Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0197%/8h= +21.6% APRpaid last 24h +0.069%

Price spread now: BloFin against Vest+0.208%7-day average — · you sell dearer than you buy

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

Long on Vest Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVest: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and BloFin is 0.208% dearer against Vest than usual: you sell high and buy low: +$21 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest CRCL-USD-PERP	91.480	−0.0077	get 0.0010% / 1h	23m 50s	—	$31K	25x
Short	BloFin CRCL-USDT	91.670	0.0120	get 0.0120% / 8h	5h 23m	$1.1M	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Vest. 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 VestbpFee BloFinbpOrdersPrice spread, now +0.208%Rate

Funding earned: $41.38
Price spread: +0.208% → 0.000%: $20.77
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee BloFin: 6 bp × 2 orders: −$12
Net: $48.15
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; BloFin: live order book, 4 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 Vest no order-book sample	—	—	—	—	—
Sell BloFin live order book, 4 min ago	0.55 bp	9.2 bp −$9	12.5 bp −$125	24.9 bp −$2,487	doesn't fit

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1304%	8h	91.820	+0.372%	$15.9M	$34.6M	25x	as long as short
Vest CRCL-USD-PERPlong	−0.0077%	1h	91.480	long leg	—	$31K	25x
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.470	−0.011%	$903K	$518K	10x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.730	+0.273%	$1.1M	$4.9M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.736	+0.280%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.780	+0.328%	$104.6M	$385.0M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.830	+0.383%	$15.1M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.690	+0.230%	$419K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.790	+0.339%	$7.1M	$26.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.576	+0.105%	$2.4M	$3.2M	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT CRCL_USDT_Perp	0.0000%	8h	91.605	+0.137%	$65K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.730	+0.273%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0008%	8h	91.810	+0.361%	$21.6M	$59.4M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0019%	1h	91.624	+0.158%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.680	+0.219%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.774	+0.321%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.600	+0.131%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.728	+0.271%	$68.5M	$41.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.691	+0.231%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.698	+0.238%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.550	+0.077%	$974K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0069%	8h	91.695	+0.235%	$752	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.650	+0.186%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.700	+0.240%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.560	+0.087%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.700	+0.240%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.738	+0.282%	$4	—	10x	as long as short
BloFin CRCL-USDTshort	+0.0120%	8h	91.670	+0.208%	$1.1M	$1.3M	20x
Phoenix CRCL	+0.0183%	1h	91.546	+0.072%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0192%	1h	91.633	+0.168%	$131K	$104K	3x	as long as short
Lighter CRCL	+0.0224%	1h	91.781	+0.329%	$3.0M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.130	+0.711%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0514%	1h	91.750	+0.295%	$4K	$767K	10x	as long as short
edgeX CRCLUSDC	+0.0554%	4h	91.597	+0.127%	$23K	$248K	10x	as long as short