Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0167%/8h= +18.3% APRpaid last 24h +0.010%

Price spread now: Aster against Aftermath Perps+0.114%7-day average — · you sell dearer than you buy

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

Long on Aftermath Perps Short on Aster

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 airdropAster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Aster is 0.114% dearer against Aftermath Perps than usual: you sell high and buy low: +$11 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	Aftermath Perps CRCLUSD	91.238	0.0040	pay 0.0005% / 1h	59m 57s	$2K	$29K	5x
Short	Aster CRCLUSDT	91.342	0.0207	get 0.0207% / 8h	7h 59m	$1.0M	$5.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Aftermath Perps. 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 Aftermath PerpsbpFee AsterbpOrdersPrice spread, now +0.114%Rate

Funding earned: $35.06
Price spread: +0.114% → 0.000%: $11.45
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: $29.5
Costs to cover: 0.170%
Break-even: 1.1 days

Slippage unknown: Aftermath Perps: 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Aster live order book, 4 min ago	2.19 bp	8.2 bp −$8	11.6 bp −$116	doesn't fit	doesn't fit

Aftermath Perps: 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	−0.0325%	8h	91.380	+0.156%	$17.3M	$36.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0086%	1h	91.020	−0.239%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.340	+0.112%	$7.8M	$28.0M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.310	+0.079%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.311	+0.080%	$983K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSDlong	+0.0040%	1h	91.238	long leg	$2K	$29K	5x
Arcus CRCL-USD	+0.0040%	1h	91.260	+0.025%	$95K	$296K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.290	+0.057%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.230	−0.008%	$1.1M	$4.8M	10x	as long as short
Bybit CRCLUSDT	+0.0066%	8h	91.310	+0.079%	$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	91.310	+0.079%	$1.3M	$1.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.070	−0.184%	$871K	$500K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0089%	1h	91.257	+0.021%	$67.3M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.234	−0.004%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.280	+0.046%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.220	−0.019%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.300	+0.068%	$910	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.303	+0.072%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0145%	8h	91.273	+0.038%	$2.4M	$3.2M	—	as long as short
Polymarket Perps CRCL-USD	+0.0146%	1h	91.295	+0.063%	$377K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0160%	8h	91.252	+0.015%	$420	$905	5x	as long as short
Aster CRCLUSDTshort	+0.0207%	8h	91.342	+0.114%	$1.0M	$5.0M	20x
Binance CRCLUSDT	+0.0223%	8h	91.308	+0.077%	$104.9M	$389.2M	50x	as long as short
Extended CRCL_24_5-USD	+0.0224%	1h	91.286	+0.054%	$1.0M	$5.0M	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.260	+0.025%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0256%	8h	91.309	+0.079%	$70K	$1.1M	10x	as long as short
Lighter CRCL	+0.0272%	1h	91.306	+0.075%	$2.9M	$2.4M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0294%	8h	91.320	+0.090%	$22.2M	$61.8M	50x	as long as short
BloFin CRCL-USDT	+0.0341%	8h	91.320	+0.090%	$1.1M	$1.7M	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.750	+0.562%	$5K	$19K	30x	as long as short
Nado CRCL-PERP	+0.0442%	1h	91.252	+0.016%	$134K	$109K	3x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.320	+0.090%	$412K	$260K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0518%	1h	91.270	+0.035%	$5K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0540%	4h	91.295	+0.063%	$52K	$270K	10x	as long as short