Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0070%/8h= −7.7% APRpaid last 24h +0.001%

Price spread now: Aster against Aevo−0.129%7-day average — · you buy dearer than you sell

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

Long on Aevo Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Aster is 0.129% cheaper against Aevo than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo CRCL-PERP	94.536	0.0104	pay 0.0013% / 1h	24m 59s	$4	—	10x
Short	Aster CRCLUSDT	94.415	0.0034	get 0.0034% / 8h	2h 24m	$1.1M	$4.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Aevo. 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 AevobpFee AsterbpOrdersPrice spread, now −0.129%Rate

Funding earned: −$14.7
Price spread: −0.129% → 0.000%: −$12.87
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Aster: 4 bp × 2 orders: −$8
Net: −$51.57
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Aster: 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 Aevo no order-book sample	—	—	—	—	—
Sell Aster live order book, 4 min ago	1.59 bp	8.6 bp −$9	18.0 bp −$180	doesn't fit	doesn't fit

Aevo: 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
Extended CRCL_24_5-USD	0.0000%	1h	94.511	−0.026%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	94.535	−0.001%	$108.6M	$389.2M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	94.530	−0.007%	$431K	$310K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.550	+0.014%	$7.2M	$27.8M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	94.532	−0.005%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.450	−0.091%	$50K	$1.2M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	0.0000%	1h	94.490	−0.049%	$4K	$771K	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.480	−0.060%	$1.0M	$50K	10x	as long as short
QFEX CRCL-USD	+0.0020%	1h	94.510	−0.028%	$1.4M	$2.7M	10x	as long as short
Bybit CRCLUSDT	+0.0027%	8h	94.530	−0.007%	$15.5M	$25.9M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	94.551	+0.016%	$882K	$2.9M	10x	as long as short
Aster CRCLUSDTshort	+0.0034%	8h	94.415	−0.129%	$1.1M	$4.8M	20x
Aftermath Perps CRCLUSD	+0.0043%	1h	94.288	−0.263%	$2K	$19K	5x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.410	−0.134%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.481	−0.059%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.534	−0.002%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.350	−0.197%	$1.1M	$5.9M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0052%	1h	94.575	+0.041%	$71.0M	$42.8M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.544	+0.008%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.490	−0.049%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.300	−0.250%	$69K	$5K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.530	−0.007%	$942	$3K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0101%	8h	94.598	+0.065%	$719	$428	5x	as long as short
Aevo CRCL-PERPlong	+0.0104%	1h	94.536	long leg	$4	—	10x
BloFin CRCL-USDT	+0.0120%	8h	94.530	−0.007%	$1.1M	$589K	20x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0144%	1h	94.390	−0.155%	$939K	$743K	10x	as long as short
Nado CRCL-PERP	+0.0198%	1h	94.459	−0.082%	$127K	$73K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0223%	8h	94.520	−0.017%	$22.8M	$60.7M	50x	as long as short
Phoenix CRCL	+0.0228%	1h	94.600	+0.067%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0264%	1h	94.573	+0.039%	$3.1M	$2.4M	10x	as long as short
Bitget CRCLUSDT	+0.0335%	8h	94.520	−0.017%	$16.8M	$35.2M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.830	+0.311%	$5K	$20K	30x	as long as short
Arcus CRCL-USD	+0.0560%	1h	94.550	+0.014%	$97K	$272K	10x	as long as short
edgeX CRCLUSDC	+0.0931%	4h	94.439	−0.103%	$24K	$266K	10x	as long as short