Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0400%/8h= +43.8% APRpaid last 24h +0.056%

Price spread now: OKX against Vest+0.546%58s7-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 OKX

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 +$12 a day on $10k at the current rate, and OKX is 0.546% dearer against Vest than usual: you sell high and buy low: +$55 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest CRCL-USD-PERP	91.630	−0.0104	get 0.0013% / 1h	19m 37s	—	$31K	25x
Short	OKX CRCL-USDT-SWAP	92.130	0.0296	get 0.0296% / 8h	7h 19m	$22.5M	$61.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.546%Rate

Funding earned: $83.99
Price spread: +0.546% → 0.000%: $54.57
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee OKX: 5 bp × 2 orders: −$10
Net: $126.56
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; OKX: 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 OKX live order book, 4 min ago	0.55 bp	7.9 bp −$8	13.8 bp −$138	119.8 bp −$12.0K	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
Vest CRCL-USD-PERPlong	−0.0104%	1h	91.630	long leg	—	$31K	25x
Bitget CRCLUSDT	0.0000%	8h	92.180	+0.600%	$17.7M	$36.0M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.990	+0.393%	$1.0M	$47K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.065	+0.475%	$989K	$2.4M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	92.020	+0.426%	$947K	$567K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0036%	1h	91.351	−0.304%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.120	+0.535%	$96K	$276K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.043	+0.451%	$67.7M	$43.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.754	+0.135%	$379K	$999K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.900	+0.295%	$1.1M	$4.7M	10x	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	+0.0065%	1h	92.130	+0.546%	$1.4M	$1.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.070	+0.480%	$135K	$143K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.930	+0.327%	$2.6M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.010	+0.415%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.960	+0.360%	$917	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.977	+0.379%	$4	—	10x	as long as short
Bybit CRCLUSDT	+0.0121%	8h	92.120	+0.535%	$15.1M	$26.8M	50x	as long as short
Paradex CRCL-USD-PERP	+0.0138%	8h	92.132	+0.548%	$424	$766	5x	as long as short
Gate CRCL_USDT	+0.0142%	8h	92.120	+0.535%	$7.9M	$26.7M	50x	as long as short
Variational Omni CRCL	+0.0176%	8h	92.182	+0.602%	$2.4M	$3.3M	—	as long as short
Lighter CRCL	+0.0184%	1h	92.131	+0.547%	$3.0M	$2.1M	10x	as long as short
Aster CRCLUSDT	+0.0239%	8h	92.187	+0.608%	$1.0M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0248%	1h	92.095	+0.508%	$1.1M	$5.1M	10x	as long as short
Binance CRCLUSDT	+0.0252%	8h	92.110	+0.524%	$106.0M	$385.9M	50x	as long as short
Phoenix CRCL	+0.0254%	1h	91.817	+0.204%	$27K	$66K	10x	as long as short
OKX CRCL-USDT-SWAPshort	+0.0296%	8h	92.130	+0.546%	$22.5M	$61.8M	50x
Nado CRCL-PERP	+0.0357%	1h	92.072	+0.483%	$135K	$109K	3x	as long as short
BloFin CRCL-USDT	+0.0359%	8h	92.300	+0.731%	$1.1M	$1.7M	20x	as long as short
SoDEX CRCL-USD	+0.0402%	1h	91.960	+0.360%	$46K	$3K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0406%	8h	92.320	+0.753%	$72K	$1.1M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.920	+0.316%	$40K	$170K	30x	as long as short
RISEx CRCL/USDC	+0.0501%	1h	92.090	+0.502%	$416K	$256K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0729%	1h	91.990	+0.393%	$5K	$749K	10x	as long as short
edgeX CRCLUSDC	+0.0880%	4h	92.076	+0.486%	$52K	$270K	10x	as long as short