Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0078%/8h= +8.6% APRpaid last 24h +0.038%

Price spread now: Gate against Vest+0.274%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 Gate

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 +$2 a day on $10k at the current rate, and Gate is 0.274% dearer against Vest than usual: you sell high and buy low: +$27 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	91.130	−0.0078	get 0.0010% / 1h	33m 52s	—	$31K	25x
Short	Gate CRCL_USDT	91.380	0	get 0.0000% / 8h	33m 52s	$7.8M	$27.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.274%Rate

Funding earned: $16.43
Price spread: +0.274% → 0.000%: $27.43
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $26.86
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; Gate: live order book, 5 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 Gate live order book, 5 min ago	2.73 bp	15.3 bp −$15	28.4 bp −$284	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	−0.0247%	8h	91.410	+0.307%	$17.5M	$36.7M	25x	as long as short
Vest CRCL-USD-PERPlong	−0.0078%	1h	91.130	long leg	—	$31K	25x
Gate CRCL_USDTshort	0.0000%	8h	91.380	+0.274%	$7.8M	$27.4M	50x
Phemex CRCLUSDT	0.0000%	4h	91.340	+0.230%	$1.0M	$48K	10x	as long as short
Bybit CRCLUSDT	+0.0025%	8h	91.340	+0.230%	$14.8M	$26.5M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.349	+0.240%	$980K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.476	+0.379%	$2K	$28K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.490	+0.395%	$97K	$292K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.340	+0.230%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.310	+0.198%	$1.1M	$4.8M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.360	+0.252%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.400	+0.296%	$890K	$402K	10x	as long as short
Variational Omni CRCL	+0.0097%	8h	91.457	+0.359%	$2.4M	$3.2M	—	as long as short
Pacifica CRCL	+0.0100%	1h	91.360	+0.252%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.340	+0.230%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.460	+0.362%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.360	+0.252%	$911	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.388	+0.283%	$4	—	10x	as long as short
tradeXYZ xyz:CRCL	+0.0116%	1h	91.273	+0.157%	$67.6M	$43.9M	10x	as long as short
edgeX CRCLUSDC	+0.0124%	4h	91.531	+0.441%	$52K	$275K	10x	as long as short
Polymarket Perps CRCL-USD	+0.0158%	1h	91.372	+0.266%	$379K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0163%	8h	91.338	+0.228%	$420	$905	5x	as long as short
Aster CRCLUSDT	+0.0167%	8h	91.363	+0.255%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0183%	8h	91.348	+0.240%	$105.0M	$389.7M	50x	as long as short
Extended CRCL_24_5-USD	+0.0184%	1h	91.322	+0.211%	$1.0M	$5.0M	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.689	+0.613%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0247%	8h	91.730	+0.658%	$61K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0258%	8h	91.370	+0.263%	$22.2M	$61.7M	50x	as long as short
Lighter CRCL	+0.0264%	1h	91.388	+0.283%	$2.9M	$2.4M	10x	as long as short
BloFin CRCL-USDT	+0.0302%	8h	91.370	+0.263%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0425%	1h	91.345	+0.236%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.010	+0.966%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.391	+0.286%	$413K	$273K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0626%	1h	91.360	+0.252%	$5K	$769K	10x	as long as short