Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h +0.029%

Price spread now: Aftermath Perps against Variational Omni+0.013%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Aftermath Perps

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 airdropVariational Omni: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CRCL	94.407	0.0066	pay 0.0066% / 8h	1h 48m	$2.5M	$3.2M	—
Short	Aftermath Perps CRCLUSD	94.419	0.0046	get 0.0006% / 1h	48m 47s	$2K	$19K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Variational Omni. 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 Variational OmnibpFee Aftermath PerpsbpOrdersPrice spread, now +0.013%Rate

Funding earned: −$4.17
Price spread: +0.013% → 0.000%: $1.3
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$11.88
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, just now; Aftermath Perps: 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 Variational Omni RFQ quote, just now	3.43 bp	doesn't fit	25.3 bp −$253	doesn't fit	doesn't fit
Sell Aftermath Perps no order-book sample	—	—	—	—	—

Aftermath Perps: 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
Gate CRCL_USDT	0.0000%	8h	94.390	−0.018%	$7.2M	$27.5M	50x	as long as short
Deribit CRCL_USDC-PERPETUAL	0.0000%	1h	94.400	−0.007%	$4K	$771K	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.400	−0.007%	$1.0M	$50K	10x	as long as short
QFEX CRCL-USD	+0.0033%	1h	94.390	−0.018%	$1.4M	$2.7M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0041%	8h	94.433	+0.028%	$50K	$1.2M	10x	as long as short
Aftermath Perps CRCLUSDshort	+0.0046%	1h	94.419	+0.013%	$2K	$19K	5x
Vest CRCL-USD-PERP	+0.0046%	1h	94.370	−0.039%	—	$45K	25x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.399	−0.008%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.280	−0.134%	$1.1M	$5.9M	10x	as long as short
Variational Omni CRCLlong	+0.0066%	8h	94.407	long leg	$2.5M	$3.2M	—

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CRCLUSDT	+0.0070%	8h	94.370	−0.039%	$15.5M	$25.9M	50x	as long as short
Polymarket Perps CRCL-USD	+0.0074%	1h	94.382	−0.026%	$357K	$1.1M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0080%	1h	94.290	−0.124%	$938K	$742K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.340	−0.071%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.400	−0.007%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.260	−0.156%	$69K	$5K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.400	−0.007%	$941	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.414	+0.007%	$4	—	10x	as long as short
Extended CRCL_24_5-USD	+0.0120%	1h	94.340	−0.071%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0122%	8h	94.335	−0.076%	$108.3M	$388.5M	50x	as long as short
Aster CRCLUSDT	+0.0153%	8h	94.392	−0.016%	$1.1M	$4.8M	20x	as long as short
RISEx CRCL/USDC	+0.0159%	1h	94.410	+0.003%	$431K	$309K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0177%	8h	94.450	+0.046%	$774	$740	5x	as long as short
Lighter RH CRCL	+0.0184%	1h	94.373	−0.036%	$880K	$2.9M	10x	as long as short
Phoenix CRCL	+0.0212%	1h	94.486	+0.084%	$28K	$92K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	94.430	+0.024%	$97K	$275K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0217%	8h	94.390	−0.018%	$22.8M	$60.5M	50x	as long as short
edgeX CRCLUSDC	+0.0225%	4h	94.409	+0.002%	$24K	$267K	10x	as long as short
BloFin CRCL-USDT	+0.0241%	8h	94.390	−0.018%	$1.1M	$581K	20x	as long as short
tradeXYZ xyz:CRCL	+0.0277%	1h	94.313	−0.100%	$70.7M	$42.8M	10x	as long as short
Bitget CRCLUSDT	+0.0330%	8h	94.350	−0.060%	$16.7M	$35.1M	25x	as long as short
Nado CRCL-PERP	+0.0358%	1h	94.385	−0.023%	$126K	$74K	3x	as long as short
Lighter CRCL	+0.0408%	1h	94.387	−0.021%	$3.1M	$2.2M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.850	+0.469%	$5K	$19K	30x	as long as short