Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.020%

Price spread now: Gate against Variational Omni+0.176%7-day average +0.036% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.001%$0 on $10k

Price spread, last 7 days−0.149%−$15 · spread now +0.176%, 7d avg +0.036%

Together, before fees−0.148%+ Points / potential airdropVariational Omni: Active · farm board−$15 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.140% dearer against Variational Omni than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CRCL	91.539	0	get 0.0000% / 8h	2h 07m	$2.4M	$3.2M	—
Short	Gate CRCL_USDT	91.700	0	get 0.0000% / 8h	2h 07m	$7.7M	$27.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee GatebpOrdersPrice spread, now +0.176%Rate

Funding earned: $0
Price spread: +0.176% → +0.036%: $14.01
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$0.99
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Gate: live order book, 2 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Variational Omni RFQ quote, 2 min ago	3.46 bp	doesn't fit	18.4 bp −$184	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	0.55 bp	16.5 bp −$17	30.0 bp −$300	doesn't fit	doesn't fit

CRCL on 34 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CRCLUSDT	−0.0899%	8h	91.730	+0.209%	$17.2M	$36.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0081%	1h	91.450	−0.097%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.650	+0.121%	$14.7M	$26.8M	50x	as long as short
Gate CRCL_USDTshort	0.0000%	8h	91.700	+0.176%	$7.7M	$27.7M	50x
Variational Omni CRCLlong	0.0000%	8h	91.539	long leg	$2.4M	$3.2M	—
Phemex CRCLUSDT	0.0000%	4h	91.670	+0.143%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.658	+0.130%	$977K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.491	−0.052%	$2K	$27K	5x	as long as short
Aster CRCLUSDT	+0.0038%	8h	91.560	+0.022%	$1.0M	$5.1M	20x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.560	+0.023%	$93K	$289K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX CRCL-USD	+0.0050%	1h	91.657	+0.129%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.570	+0.034%	$1.1M	$5.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0053%	1h	91.723	+0.201%	$384K	$1.3M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	91.720	+0.198%	$1.3M	$1.8M	10x	as long as short
Binance CRCLUSDT	+0.0056%	8h	91.640	+0.110%	$104.7M	$397.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0056%	1h	91.704	+0.180%	$1.0M	$5.7M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0071%	1h	91.599	+0.066%	$67.9M	$44.3M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	91.590	+0.056%	$892K	$606K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.720	+0.198%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.570	+0.034%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.470	−0.075%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.710	+0.187%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.696	+0.171%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	91.735	+0.214%	$418K	$283K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0134%	8h	91.536	−0.004%	$65K	$1.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0142%	8h	91.725	+0.203%	$422	$905	5x	as long as short
OKX CRCL-USDT-SWAP	+0.0153%	8h	91.670	+0.143%	$22.3M	$62.8M	50x	as long as short
BloFin CRCL-USDT	+0.0176%	8h	91.750	+0.231%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0210%	1h	91.699	+0.175%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0256%	1h	91.661	+0.133%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0334%	1h	91.626	+0.095%	$134K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.150	+0.667%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0552%	4h	91.496	−0.047%	$52K	$277K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.1060%	1h	91.720	+0.198%	$4K	$768K	10x	as long as short