Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0927%/8h= +101.5% APRpaid last 24h +0.140%

Price spread now: edgeX against Variational Omni−0.059%7-day average −0.008% · you buy dearer than you sell

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

Long on Variational Omni Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.561%+$56 on $10k

Price spread, last 4 days (all we have)+0.129%+$13 · spread now −0.059%, 7d avg −0.008%

Together, before fees+0.690%+ Points / potential airdropVariational Omni: Active · edgeX: Active · farm board+$69 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.051% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.059% now, against its 7-day average of −0.008%). If the spread goes back, that is −$5 on $10k: about 4 hours of funding at the current rate (+$28 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CRCL	91.669	0	get 0.0000% / 8h	2h 46m	$2.4M	$3.2M	—
Short	edgeX CRCLUSDC	91.615	0.0927	get 0.0464% / 4h	2h 46m	$52K	$278K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.059%Rate

Funding earned: $194.7
Price spread: −0.059% → −0.008%: −$5.1
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $180.6
Costs to cover: 0.090%
Break-even: 0.5 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; edgeX: live order book, 1 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	19.3 bp −$193	doesn't fit	doesn't fit
Sell edgeX live order book, 1 min ago	6.01 bp	11.6 bp −$12	23.6 bp −$236	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	−0.0755%	8h	91.620	−0.053%	$16.7M	$36.1M	25x	as long as short
Vest CRCL-USD-PERP	−0.0069%	1h	91.310	−0.392%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.560	−0.119%	$14.7M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.580	−0.097%	$7.4M	$27.1M	50x	as long as short
Variational Omni CRCLlong	0.0000%	8h	91.669	long leg	$2.4M	$3.2M	—
Phemex CRCLUSDT	0.0000%	4h	91.590	−0.086%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0023%	8h	91.571	−0.107%	$1.0M	$5.1M	20x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.573	−0.105%	$974K	$2.9M	10x	as long as short
Extended CRCL_24_5-USD	+0.0032%	1h	91.522	−0.160%	$1.1M	$5.6M	10x	as long as short
Binance CRCLUSDT	+0.0034%	8h	91.547	−0.133%	$104.3M	$393.6M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus CRCL-USD	+0.0040%	1h	91.580	−0.097%	$93K	$291K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0042%	1h	91.553	−0.126%	$2K	$26K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.551	−0.129%	$383K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.542	−0.138%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.540	−0.141%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	91.560	−0.119%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	91.400	−0.293%	$911K	$521K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0075%	1h	91.501	−0.183%	$68.1M	$42.9M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0078%	1h	91.540	−0.141%	$4K	$768K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0094%	8h	91.531	−0.151%	$421	$905	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.549	−0.131%	$134K	$162K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.530	−0.152%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.600	−0.075%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.560	−0.119%	$913	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.552	−0.128%	$4	—	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0110%	8h	91.680	+0.012%	$62K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0116%	8h	91.570	−0.108%	$22.2M	$61.9M	50x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	91.550	−0.130%	$417K	$295K	10x	as long as short
BloFin CRCL-USDT	+0.0139%	8h	91.630	−0.042%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0210%	1h	91.658	−0.012%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0296%	1h	91.560	−0.119%	$2.9M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0348%	1h	91.555	−0.124%	$133K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.050	+0.416%	$5K	$19K	30x	as long as short
edgeX CRCLUSDCshort	+0.0927%	4h	91.615	−0.059%	$52K	$278K	10x