Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0073%/8hpaid last 24h +0.028%

Price spread now: SoDEX against Variational Omni+0.053%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 SoDEX

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 pays, funding is against you. SoDEX is 0.053% dearer against Variational Omni than usual: you sell high and buy low (spread +0.053% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CRCL	94.715	0.0123	pay 0.0123% / 8h	4h 21m	$2.5M	$3.2M	—
Short	SoDEX CRCL-USD	94.765	0.0050	get 0.0006% / 1h	21m 43s	$48K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.053%Rate

Funding earned: −$15.25
Price spread: +0.053% → 0.000%: $5.33
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$17.92
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; SoDEX: 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, 2 min ago	3.42 bp	doesn't fit	18.0 bp −$180	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	94.810	+0.101%	$7.2M	$26.8M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.780	+0.069%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.867	+0.161%	$816K	$2.8M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.720	+0.006%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.766	+0.054%	$357K	$1.0M	10x	as long as short
SoDEX CRCL-USDshort	+0.0050%	1h	94.765	+0.053%	$48K	$3K	10x
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.700	−0.015%	$1.1M	$5.8M	10x	as long as short
QFEX CRCL-USD	+0.0071%	1h	94.860	+0.154%	$1.4M	$2.7M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0073%	1h	94.809	+0.100%	$71.2M	$41.2M	10x	as long as short
Bybit CRCLUSDT	+0.0086%	8h	94.840	+0.132%	$15.5M	$25.5M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex CRCL-USD-PERP	+0.0097%	8h	94.879	+0.173%	$721	$428	5x	as long as short
Pacifica CRCL	+0.0100%	1h	94.850	+0.143%	$78K	$97K	10x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.800	+0.090%	$70K	$5K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.780	+0.069%	$945	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.791	+0.081%	$4	—	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0113%	8h	94.887	+0.182%	$48K	$1.2M	10x	as long as short
Variational Omni CRCLlong	+0.0123%	8h	94.715	long leg	$2.5M	$3.2M	—
KuCoin CRCLUSDTM	+0.0136%	8h	94.820	+0.111%	$2.9M	$1.7M	20x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0144%	1h	94.790	+0.080%	$947K	$730K	10x	as long as short
Aster CRCLUSDT	+0.0162%	8h	94.867	+0.161%	$1.1M	$4.7M	20x	as long as short
Phoenix CRCL	+0.0162%	1h	94.827	+0.119%	$28K	$92K	10x	as long as short
Extended CRCL_24_5-USD	+0.0168%	1h	94.833	+0.125%	$1.2M	$3.5M	10x	as long as short
Binance CRCLUSDT	+0.0169%	8h	94.840	+0.132%	$108.9M	$376.9M	50x	as long as short
RISEx CRCL/USDC	+0.0224%	1h	94.870	+0.164%	$421K	$312K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0290%	8h	94.860	+0.154%	$23.0M	$59.5M	50x	as long as short
BloFin CRCL-USDT	+0.0290%	8h	94.860	+0.154%	$1.1M	$576K	20x	as long as short
Lighter CRCL	+0.0304%	1h	94.892	+0.187%	$3.0M	$2.1M	10x	as long as short
Nado CRCL-PERP	+0.0318%	1h	94.720	+0.006%	$132K	$67K	3x	as long as short
Aftermath Perps CRCLUSD	+0.0359%	1h	94.681	−0.036%	$2K	$16K	5x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0384%	1h	94.760	+0.048%	$4K	$802K	10x	as long as short
Bitget CRCLUSDT	+0.0413%	8h	94.860	+0.154%	$17.0M	$34.3M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	95.200	+0.513%	$5K	$20K	30x	as long as short
Arcus CRCL-USD	+0.0748%	1h	94.840	+0.132%	$102K	$257K	10x	as long as short
edgeX CRCLUSDC	+0.0859%	4h	94.832	+0.124%	$24K	$265K	10x	as long as short