In response of Vitaliy's MSE post for generating chromostereopsis visual illusion, I am Providing an updated version of code using more sophisticated transformation function. For different angle rot a bit different the animation is.

im = Rasterize[
  ImageApply[#*RandomChoice[{0, 1}] &, 
   Rasterize[
    Graphics[{Riffle[{Red, Black, Blue, Black, Red}, 
       Disk[{0, 0}, #] & /@ ({10, 7, 6, 4, 3}/10)]}, PlotRange -> 1.1,
      Background -> Black], RasterSize -> 240]], RasterSize -> 2*240]

rot = 2 Pi - Pi/4;

tr[r_] := 
 Evaluate[RotationMatrix[fi] . {-(Sin[(r - 1) rot]/(2 rot)), (
    1 - Cos[(r - 1) rot])/(2 rot)}]

Table[ImageForwardTransformation[im, # + tr[Norm[#]] &, 
   DataRange -> {{-1, 1}, {-1, 1}}], {fi, 0, 2 Pi - 2 Pi/30, 2 Pi/30}];

Export["C:\\ill.gif", %]

Old version

This is very slow for resolution 480 x 480 pixels and 30 frames. Maybe someone knows how to take advantage of GPU to do the transformations.

Also the transformation function needs finer tuning by changing parameters to resemble the original better but as a start point it is good I think.

im = Rasterize[
  ImageApply[#*RandomChoice[{0, 1}] &, 
   Rasterize[
    Graphics[{Riffle[{Red, Black, Blue, Black, Red}, 
       Disk[{0, 0}, #] & /@ ({10, 7, 6, 4, 3}/10)]}, PlotRange -> 1.3,
      Background -> Black], RasterSize -> 240]], RasterSize -> 2*240]

Table[ImageForwardTransformation[
   im, ((f |-> # + 
         1/5 {Cos[fi + (Pi + Pi Cos[2 Pi Sqrt[2] f])/3], 
           Sin[fi + (Pi + Pi Cos[2 Pi Sqrt[2] f])/3]} (f + 0.1))@Sqrt[
      Total[(# - 1/2)^2]]) &], {fi, 0, 2 Pi - 2 Pi/30, 2 Pi/30}];

Export["C:\\ill.gif", %]

Random dots free.

n = 0.25;
Manipulate[
 Graphics[{Point[{0, 0}], 
   Riffle[{Red, Black, Blue, Black, Red}, 
    Table[Disk[0.1 Sum[{Cos[a + q n Pi], Sin[a + q n Pi]}, {q, i}], 
      1 - i/6], {i, 5}]]}, PlotRange -> 1], {a, 0, 2 Pi}]