Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0199%/8h= −21.8% APRpaid last 24h −0.035%

Price spread now: Variational Omni against RISEx−0.065%7-day average −0.026% · you buy dearer than you sell

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

Long on RISEx Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.295%−$30 on $10k

Price spread, last 4 days (all we have)−0.197%−$20 · spread now −0.065%, 7d avg −0.026%

Together, before fees−0.492%+ Points / potential airdropVariational Omni: Active · farm board−$49 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Variational Omni is 0.039% cheaper against RISEx than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.026%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx CRCL/USDC	92.615	0.0479	pay 0.0060% / 1h	15m 18s	$411K	$242K	10x
Short	Variational Omni CRCL	92.555	0.0281	get 0.0281% / 8h	6h 15m	$2.5M	$3.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against RISEx. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 RISExbpFee Variational OmnibpOrdersPrice spread, now −0.065%Rate

Funding earned: −$41.72
Price spread: −0.065% → −0.026%: −$3.91
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$51.63
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: RISEx: live order book, 36 min ago; Variational Omni: RFQ quote, 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 RISEx live order book, 36 min ago	2.71 bp	5.7 bp −$6	6.5 bp −$65	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	3.45 bp	doesn't fit	12.1 bp −$121	doesn't fit	doesn't fit

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-PERP	−0.0021%	1h	92.470	−0.157%	—	$30K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.570	−0.049%	$15.0M	$25.2M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.610	−0.005%	$18.1M	$34.0M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.500	−0.124%	$1.0M	$45K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0008%	1h	92.390	−0.243%	$856K	$699K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.573	−0.045%	$1.0M	$2.5M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	92.421	−0.209%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.505	−0.119%	$67.7M	$40.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.584	−0.033%	$380K	$850K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.540	−0.081%	$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	−0.232%	$1.1M	$3.9M	10x	as long as short
Gate CRCL_USDT	+0.0061%	8h	92.640	+0.027%	$7.4M	$25.9M	50x	as long as short
QFEX CRCL-USD	+0.0080%	1h	92.580	−0.038%	$1.3M	$1.6M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.540	−0.081%	$139K	$141K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.510	−0.113%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.330	−0.308%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.580	−0.038%	$923	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.575	−0.043%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0111%	8h	92.570	−0.048%	$426	$477	5x	as long as short
Phoenix CRCL	+0.0199%	1h	92.370	−0.265%	$27K	$66K	10x	as long as short
Lighter CRCL	+0.0248%	1h	92.606	−0.010%	$3.0M	$2.1M	10x	as long as short
Variational Omni CRCLshort	+0.0281%	8h	92.555	−0.065%	$2.5M	$3.3M	—
Nado CRCL-PERP	+0.0314%	1h	92.498	−0.127%	$151K	$112K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0328%	8h	92.570	−0.049%	$22.8M	$57.4M	50x	as long as short
Aster CRCLUSDT	+0.0355%	8h	92.560	−0.059%	$1.1M	$4.5M	20x	as long as short
Binance CRCLUSDT	+0.0360%	8h	92.570	−0.049%	$107.0M	$360.7M	50x	as long as short
Extended CRCL_24_5-USD	+0.0360%	1h	92.542	−0.079%	$1.1M	$4.2M	10x	as long as short
Arcus CRCL-USD	+0.0368%	1h	92.580	−0.038%	$96K	$226K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.090	−0.567%	$38K	$172K	30x	as long as short
BloFin CRCL-USDT	+0.0470%	8h	92.450	−0.178%	$1.1M	$1.7M	20x	as long as short
RISEx CRCL/USDClong	+0.0479%	1h	92.615	long leg	$411K	$242K	10x
Deribit CRCL_USDC-PERPETUAL	+0.0507%	1h	92.540	−0.081%	$5K	$488K	10x	as long as short
edgeX CRCLUSDC	+0.0638%	4h	92.445	−0.183%	$53K	$270K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0722%	8h	92.474	−0.153%	$70K	$1.0M	10x	as long as short