Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0631%/8h= +69.1% APRpaid last 24h +0.133%

Price spread now: edgeX against Vest+0.226%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 edgeX

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 · edgeX: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and edgeX is 0.226% dearer against Vest than usual: you sell high and buy low: +$23 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	91.390	−0.0077	get 0.0010% / 1h	24m 54s	—	$31K	25x
Short	edgeX CRCLUSDC	91.597	0.0554	get 0.0277% / 4h	1h 24m	$23K	$248K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.226%Rate

Funding earned: $132.47
Price spread: +0.226% → 0.000%: $22.6
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $144.07
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; edgeX: live order book, 38 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 edgeX live order book, 38 min ago	5.98 bp	11.4 bp −$11	23.5 bp −$235	doesn't fit	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	−0.1307%	8h	91.710	+0.350%	$15.8M	$34.6M	25x	as long as short
Vest CRCL-USD-PERPlong	−0.0077%	1h	91.390	long leg	—	$31K	25x
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.470	+0.088%	$903K	$518K	10x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.675	+0.312%	$1.1M	$4.9M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.637	+0.270%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.690	+0.328%	$104.5M	$385.0M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.710	+0.350%	$15.1M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.626	+0.258%	$418K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.710	+0.350%	$7.1M	$26.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.576	+0.204%	$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	+0.235%	$65K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.650	+0.284%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0008%	8h	91.700	+0.339%	$21.5M	$59.4M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0020%	1h	91.625	+0.257%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.640	+0.274%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.696	+0.335%	$973K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.580	+0.208%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.639	+0.272%	$68.5M	$41.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.623	+0.255%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.630	+0.263%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.570	+0.197%	$974K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0069%	8h	91.637	+0.270%	$751	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.600	+0.230%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.650	+0.284%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.560	+0.186%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.650	+0.284%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.661	+0.297%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.670	+0.306%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0183%	1h	91.546	+0.171%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0191%	1h	91.664	+0.300%	$131K	$104K	3x	as long as short
Lighter CRCL	+0.0216%	1h	91.696	+0.335%	$3.0M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.130	+0.810%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0514%	1h	91.680	+0.317%	$4K	$767K	10x	as long as short
edgeX CRCLUSDCshort	+0.0554%	4h	91.597	+0.226%	$23K	$248K	10x