Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0037%/8h= +4.1% APRpaid last 24h +0.049%

Price spread now: Arcus against Variational Omni+0.001%7-day average −0.065% · you sell dearer than you buy

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

Long on Variational Omni Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.104%+$10 on $10k

Price spread, last 4 days (all we have)−0.031%−$3 · spread now +0.001%, 7d avg −0.065%

Together, before fees+0.073%+ Points / potential airdropVariational Omni: Active · farm board+$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Arcus is 0.066% dearer against Variational Omni than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CRCL	91.579	0.0003	pay 0.0003% / 8h	1h 22m	$2.4M	$3.2M	—
Short	Arcus CRCL-USD	91.580	0.0040	get 0.0005% / 1h	22m 27s	$95K	$291K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now +0.001%Rate

Funding earned: $7.79
Price spread: +0.001% → −0.065%: $6.57
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $9.86
Costs to cover: 0.045%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Arcus: live order book, 21 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 Variational Omni RFQ quote, 2 min ago	3.46 bp	doesn't fit	22.0 bp −$220	doesn't fit	doesn't fit
Sell Arcus live order book, 21 min ago	4.38 bp	9.3 bp −$9	11.9 bp −$119	doesn't fit	doesn't fit

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	−0.0631%	8h	91.770	+0.209%	$17.5M	$37.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0086%	1h	91.410	−0.185%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.690	+0.121%	$14.7M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.720	+0.154%	$7.8M	$27.5M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.640	+0.067%	$1.0M	$48K	10x	as long as short
Variational Omni CRCLlong	+0.0003%	8h	91.579	long leg	$2.4M	$3.2M	—
Lighter RH CRCL	+0.0032%	1h	91.689	+0.120%	$979K	$2.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.527	−0.057%	$2K	$28K	5x	as long as short
Arcus CRCL-USDshort	+0.0040%	1h	91.580	+0.001%	$95K	$291K	10x
SoDEX CRCL-USD	+0.0050%	1h	91.683	+0.114%	$46K	$3K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.560	−0.021%	$1.1M	$5.2M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0056%	1h	91.560	−0.021%	$891K	$615K	10x	as long as short
QFEX CRCL-USD	+0.0068%	1h	91.680	+0.110%	$1.3M	$1.8M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0082%	1h	91.624	+0.049%	$67.8M	$44.4M	10x	as long as short
Aster CRCLUSDT	+0.0098%	8h	91.678	+0.108%	$1.0M	$5.1M	20x	as long as short
Pacifica CRCL	+0.0100%	1h	91.650	+0.078%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.580	+0.001%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.430	−0.163%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.630	+0.056%	$914	$2K	10x	as long as short
Extended CRCL_24_5-USD	+0.0104%	1h	91.682	+0.113%	$1.0M	$5.0M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.669	+0.098%	$4	—	10x	as long as short
Binance CRCLUSDT	+0.0109%	8h	91.700	+0.132%	$104.7M	$397.6M	50x	as long as short
Polymarket Perps CRCL-USD	+0.0132%	1h	91.676	+0.106%	$384K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0158%	8h	91.671	+0.100%	$422	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0185%	8h	91.500	−0.086%	$67K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0207%	8h	91.700	+0.132%	$22.3M	$62.7M	50x	as long as short
BloFin CRCL-USDT	+0.0228%	8h	91.700	+0.132%	$1.1M	$1.7M	20x	as long as short
Phoenix CRCL	+0.0245%	1h	91.587	+0.009%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0264%	1h	91.686	+0.117%	$2.9M	$2.4M	10x	as long as short
RISEx CRCL/USDC	+0.0271%	1h	91.706	+0.138%	$418K	$268K	10x	as long as short
edgeX CRCLUSDC	+0.0376%	4h	91.464	−0.126%	$52K	$277K	10x	as long as short
Nado CRCL-PERP	+0.0398%	1h	91.592	+0.014%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.100	+0.569%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0514%	1h	91.650	+0.078%	$5K	$769K	10x	as long as short