Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0527%/8h= −57.7% APRpaid last 24h −0.093%

Price spread now: Vest against BloFin−0.226%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Vest

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 against this trade now: funding costs −$16 a day on $10k at the current rate, and Vest is 0.226% cheaper against BloFin than usual: you would sell low and buy high (−$23 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin CRCL-USDT	93.070	0.0508	pay 0.0508% / 8h	5h 59m	$1.1M	$1.7M	20x
Short	Vest CRCL-USD-PERP	92.860	−0.0019	pay 0.0002% / 1h	59m 37s	—	$30K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against BloFin. 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 BloFinbpFee VestbpOrdersPrice spread, now −0.226%Rate

Funding earned: −$110.71
Price spread: −0.226% → 0.000%: −$22.56
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Vest: 1 bp × 2 orders: −$2
Net: −$147.28
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 1 min ago; Vest: no order-book sample. 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 BloFin live order book, 1 min ago	1.61 bp	9.2 bp −$9	10.8 bp −$108	26.1 bp −$2,608	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

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-PERPshort	−0.0019%	1h	92.860	−0.226%	—	$30K	25x
Bybit CRCLUSDT	0.0000%	8h	93.240	+0.183%	$15.1M	$25.1M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	93.250	+0.193%	$18.3M	$33.5M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	93.170	+0.107%	$1.0M	$45K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0008%	1h	92.990	−0.086%	$861K	$702K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	93.207	+0.147%	$1.0M	$2.5M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0042%	1h	92.917	−0.164%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	93.153	+0.089%	$68.1M	$40.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	93.164	+0.101%	$383K	$847K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	93.113	+0.046%	$47K	$3K	10x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0080%	1h	92.980	−0.097%	$1.3M	$1.6M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	93.138	+0.073%	$139K	$141K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0100%	1h	93.130	+0.064%	$1.0M	$3.8M	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	93.130	+0.064%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.870	−0.215%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	93.160	+0.097%	$929	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	93.200	+0.139%	$4	—	10x	as long as short
Gate CRCL_USDT	+0.0123%	8h	93.300	+0.247%	$7.5M	$25.1M	50x	as long as short
Paradex CRCL-USD-PERP	+0.0133%	8h	93.190	+0.129%	$429	$477	5x	as long as short
Phoenix CRCL	+0.0199%	1h	92.945	−0.134%	$27K	$66K	10x	as long as short
edgeX CRCLUSDC	+0.0201%	4h	92.956	−0.123%	$53K	$269K	10x	as long as short
Lighter CRCL	+0.0248%	1h	93.281	+0.227%	$3.0M	$2.1M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0287%	1h	93.170	+0.107%	$5K	$454K	10x	as long as short
Variational Omni CRCL	+0.0309%	8h	92.973	−0.104%	$2.5M	$3.3M	—	as long as short
Nado CRCL-PERP	+0.0314%	1h	93.171	+0.108%	$153K	$92K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0340%	8h	93.200	+0.140%	$23.1M	$57.3M	50x	as long as short
Arcus CRCL-USD	+0.0368%	1h	93.140	+0.075%	$94K	$214K	10x	as long as short
Aster CRCLUSDT	+0.0386%	8h	93.140	+0.075%	$1.1M	$4.5M	20x	as long as short
Extended CRCL_24_5-USD	+0.0392%	1h	93.169	+0.107%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0396%	8h	93.210	+0.150%	$107.8M	$354.0M	50x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.090	−1.053%	$38K	$172K	30x	as long as short
BloFin CRCL-USDTlong	+0.0508%	8h	93.070	long leg	$1.1M	$1.7M	20x
RISEx CRCL/USDC	+0.0528%	1h	93.180	+0.118%	$418K	$239K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0805%	8h	93.020	−0.054%	$62K	$1.0M	10x	as long as short