Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0021%/8h= +2.3% APRpaid last 24h +0.021%

Price spread now: Bybit against Vest+0.260%57s7-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 Bybit

What this pair did over the last

the charts below follow

Funding, last 4 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 +$1 a day on $10k at the current rate, and Bybit is 0.260% dearer against Vest than usual: you sell high and buy low: +$26 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest CRCL-USD-PERP	92.390	−0.0021	get 0.0003% / 1h	9m 29s	—	$30K	25x
Short	Bybit CRCLUSDT	92.630	0	get 0.0000% / 8h	6h 09m	$15.0M	$25.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.260%Rate

Funding earned: $4.5
Price spread: +0.260% → 0.000%: $25.98
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $17.48
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; Bybit: 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 Vest no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	0.54 bp	10.4 bp −$10	19.7 bp −$197	274.2 bp −$27.4K	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 exchanges

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
Vest CRCL-USD-PERPlong	−0.0021%	1h	92.390	long leg	—	$30K	25x
Bybit CRCLUSDTshort	0.0000%	8h	92.630	+0.260%	$15.0M	$25.1M	50x
Bitget CRCLUSDT	0.0000%	8h	92.690	+0.325%	$18.1M	$33.7M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.640	+0.271%	$1.0M	$45K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0008%	1h	92.490	+0.108%	$856K	$700K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.595	+0.222%	$1.0M	$2.5M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	92.535	+0.157%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.523	+0.144%	$67.7M	$40.0M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.574	+0.199%	$380K	$850K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.595	+0.222%	$46K	$3K	10x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.400	+0.011%	$1.1M	$3.8M	10x	as long as short
QFEX CRCL-USD	+0.0080%	1h	92.570	+0.195%	$1.3M	$1.6M	10x	as long as short
Gate CRCL_USDT	+0.0082%	8h	92.680	+0.314%	$7.4M	$26.0M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	92.614	+0.242%	$139K	$141K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.570	+0.195%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.480	+0.097%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.600	+0.227%	$923	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.607	+0.235%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0112%	8h	92.588	+0.214%	$426	$477	5x	as long as short
Phoenix CRCL	+0.0199%	1h	92.631	+0.261%	$27K	$66K	10x	as long as short
Lighter CRCL	+0.0248%	1h	92.625	+0.254%	$3.0M	$2.1M	10x	as long as short
Variational Omni CRCL	+0.0287%	8h	92.574	+0.199%	$2.5M	$3.3M	—	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0290%	1h	92.580	+0.206%	$5K	$470K	10x	as long as short
Nado CRCL-PERP	+0.0315%	1h	92.530	+0.152%	$152K	$112K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0329%	8h	92.640	+0.271%	$22.8M	$57.0M	50x	as long as short
Aster CRCLUSDT	+0.0362%	8h	92.590	+0.217%	$1.1M	$4.5M	20x	as long as short
Binance CRCLUSDT	+0.0367%	8h	92.631	+0.261%	$107.2M	$357.6M	50x	as long as short
Extended CRCL_24_5-USD	+0.0368%	1h	92.587	+0.213%	$1.1M	$4.0M	10x	as long as short
Arcus CRCL-USD	+0.0368%	1h	92.570	+0.195%	$93K	$226K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.090	−0.325%	$38K	$172K	30x	as long as short
edgeX CRCLUSDC	+0.0457%	4h	92.616	+0.245%	$53K	$269K	10x	as long as short
RISEx CRCL/USDC	+0.0479%	1h	92.604	+0.231%	$415K	$243K	10x	as long as short
BloFin CRCL-USDT	+0.0484%	8h	92.540	+0.162%	$1.1M	$1.7M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0750%	8h	92.650	+0.281%	$62K	$1.0M	10x	as long as short