Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0131%/8h= +14.3% APRpaid last 24h +0.133%

Price spread now: edgeX against Vest+0.557%7-day average — · you sell dearer than you buy

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

Long on Vest Short on edgeX

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 airdropVest: Active · edgeX: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and edgeX is 0.557% dearer against Vest than usual: you sell high and buy low: +$56 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest CRCL-USD-PERP	90.870	−0.0076	get 0.0009% / 1h	49m 16s	—	$35K	25x
Short	edgeX CRCLUSDC	91.376	0.0055	get 0.0028% / 4h	1h 49m	$23K	$267K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Vest. 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 VestbpFee edgeXbpOrdersPrice spread, now +0.557%Rate

Funding earned: $27.48
Price spread: +0.557% → 0.000%: $55.71
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $72.19
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; edgeX: live order book, 13 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 Vest no order-book sample	—	—	—	—	—
Sell edgeX live order book, 13 min ago	5.98 bp	11.4 bp −$11	23.5 bp −$235	doesn't fit	doesn't fit

Vest: 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 33 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	−0.1192%	8h	91.160	+0.319%	$15.6M	$34.5M	25x	as long as short
Vest CRCL-USD-PERPlong	−0.0076%	1h	90.870	long leg	—	$35K	25x
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.160	+0.319%	$900K	$539K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.100	+0.253%	$14.9M	$25.7M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.110	+0.264%	$416K	$297K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.140	+0.297%	$7.0M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.307	+0.481%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.340	+0.517%	$66K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.100	+0.253%	$1.0M	$49K	10x	as long as short
Binance CRCLUSDT	+0.0014%	8h	91.086	+0.238%	$103.5M	$383.6M	50x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CRCL_24_5-USD	+0.0016%	1h	91.052	+0.201%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0021%	8h	91.076	+0.227%	$1.1M	$4.9M	20x	as long as short
Aftermath Perps CRCLUSD	+0.0022%	1h	91.379	+0.560%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.100	+0.253%	$1.3M	$2.2M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0027%	8h	91.100	+0.253%	$21.4M	$58.9M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.126	+0.282%	$969K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.320	+0.495%	$93K	$271K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.042	+0.189%	$68.2M	$41.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.086	+0.238%	$353K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.093	+0.245%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.160	+0.319%	$973K	$5.1M	10x	as long as short
edgeX CRCLUSDCshort	+0.0055%	4h	91.376	+0.557%	$23K	$267K	10x
Paradex CRCL-USD-PERP	+0.0070%	8h	91.133	+0.289%	$747	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.118	+0.273%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.190	+0.352%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.500	+0.693%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.070	+0.220%	$908	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.056	+0.204%	$4	—	10x	as long as short
Phoenix CRCL	+0.0183%	1h	91.079	+0.230%	$27K	$84K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0189%	1h	91.090	+0.242%	$4K	$767K	10x	as long as short
Nado CRCL-PERP	+0.0202%	1h	91.154	+0.313%	$130K	$103K	3x	as long as short
Lighter CRCL	+0.0280%	1h	91.137	+0.294%	$2.9M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.820	+1.045%	$5K	$19K	30x	as long as short