Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0081%/8h= +8.9% APRpaid last 24h +0.038%

Price spread now: Gate against Vest+0.352%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 Gate

What this pair did over the last

the charts below follow

Funding, last 4 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 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Gate is 0.352% dearer against Vest than usual: you sell high and buy low: +$35 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	90.930	−0.0081	get 0.0010% / 1h	9m 25s	—	$31K	25x
Short	Gate CRCL_USDT	91.250	0	get 0.0000% / 8h	9m 25s	$7.8M	$28.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.352%Rate

Funding earned: $17.04
Price spread: +0.352% → 0.000%: $35.19
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $35.23
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; Gate: live order book, 4 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 Gate live order book, 4 min ago	1.64 bp	13.0 bp −$13	25.4 bp −$254	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 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	−0.0354%	8h	91.290	+0.396%	$17.4M	$36.6M	25x	as long as short
Vest CRCL-USD-PERPlong	−0.0081%	1h	90.930	long leg	—	$31K	25x
Gate CRCL_USDTshort	0.0000%	8h	91.250	+0.352%	$7.8M	$28.0M	50x
Phemex CRCLUSDT	0.0000%	4h	91.240	+0.341%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.225	+0.324%	$982K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.179	+0.273%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.200	+0.297%	$95K	$296K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.210	+0.308%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.150	+0.242%	$1.1M	$4.8M	10x	as long as short
Bybit CRCLUSDT	+0.0060%	8h	91.240	+0.341%	$14.8M	$26.5M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.220	+0.319%	$1.3M	$1.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.070	+0.154%	$871K	$500K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0090%	1h	91.137	+0.228%	$67.2M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.190	+0.286%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.210	+0.308%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.120	+0.209%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.230	+0.330%	$910	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.242	+0.343%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0128%	8h	91.194	+0.290%	$2.4M	$3.3M	—	as long as short
Polymarket Perps CRCL-USD	+0.0154%	1h	91.201	+0.298%	$377K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0158%	8h	91.193	+0.289%	$419	$905	5x	as long as short
Aster CRCLUSDT	+0.0193%	8h	91.232	+0.332%	$1.0M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0208%	1h	91.188	+0.284%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0209%	8h	91.210	+0.308%	$104.7M	$389.4M	50x	as long as short
Phoenix CRCL	+0.0227%	1h	91.187	+0.283%	$27K	$74K	10x	as long as short
Lighter CRCL	+0.0248%	1h	91.221	+0.320%	$2.9M	$2.4M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0250%	8h	91.217	+0.315%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0284%	8h	91.230	+0.330%	$22.3M	$61.6M	50x	as long as short
BloFin CRCL-USDT	+0.0327%	8h	91.210	+0.308%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0435%	1h	91.122	+0.211%	$133K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.740	+0.891%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.227	+0.327%	$412K	$269K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0738%	1h	91.230	+0.330%	$5K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0810%	4h	91.207	+0.305%	$52K	$269K	10x	as long as short