Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0039%/8h= +4.3% APRpaid last 24h −0.030%

Price spread now: Aster against Arcus+0.156%46s7-day average +0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$370.373% of the position

Long on Arcus Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.050%−$5 on $10k

Price spread, last 4 days (all we have)+0.060%+$6 · spread now +0.156%, 7d avg +0.080%

Together, before fees+0.010%+ Points / potential airdropAster: Stage 5 · farm board+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Aster is 0.076% dearer against Arcus than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.080%. The two prices were read 46 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	Arcus CRCL-USD	92.160	0.0040	pay 0.0005% / 1h	25m 52s	$94K	$273K	10x
Short	Aster CRCLUSDT	92.303	0.0079	get 0.0079% / 8h	6h 25m	$1.1M	$4.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Arcus. 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 ArcusbpFee AsterbpOrdersPrice spread, now +0.156%Rate

Funding earned: $8.22
Price spread: +0.156% → +0.080%: $7.62
Slippage, 4 orders: −$24.78
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$21.44
Costs to cover: 0.373%
Break-even: 25.2 days

Slippage from Arcus: live order book, 43 min ago; Aster: live order book, 3 min ago.

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 Arcus live order book, 43 min ago	3.19 bp	11.0 bp −$11	13.9 bp −$139	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	1.08 bp	6.7 bp −$7	10.1 bp −$101	doesn't fit	doesn't fit

CRCL on 33 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	−0.0597%	8h	92.230	+0.076%	$16.0M	$35.4M	25x	as long as short
Vest CRCL-USD-PERP	−0.0020%	1h	91.970	−0.206%	—	$37K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	92.050	−0.119%	$916K	$583K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.090	−0.076%	$15.0M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.193	+0.036%	$421K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.200	+0.043%	$7.2M	$26.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.310	+0.163%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	92.306	+0.158%	$71K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.300	+0.152%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0025%	1h	92.151	−0.009%	$2K	$23K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	92.351	+0.207%	$982K	$2.9M	10x	as long as short
Arcus CRCL-USDlong	+0.0040%	1h	92.160	long leg	$94K	$273K	10x
tradeXYZ xyz:CRCL	+0.0050%	1h	92.051	−0.118%	$69.3M	$42.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.173	+0.014%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.210	+0.054%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.130	−0.033%	$1.0M	$5.5M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	92.130	−0.033%	$1.3M	$2.4M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0071%	8h	92.090	−0.076%	$21.8M	$60.3M	50x	as long as short
Extended CRCL_24_5-USD	+0.0072%	1h	92.146	−0.015%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0073%	8h	92.128	−0.035%	$105.1M	$393.1M	50x	as long as short
Paradex CRCL-USD-PERP	+0.0077%	8h	92.146	−0.015%	$756	$740	5x	as long as short
Aster CRCLUSDTshort	+0.0079%	8h	92.303	+0.156%	$1.1M	$4.9M	20x
Pacifica CRCL	+0.0100%	1h	92.153	−0.007%	$129K	$153K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.240	+0.087%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.240	+0.087%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.260	+0.109%	$920	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.307	+0.160%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0156%	1h	92.194	+0.037%	$131K	$103K	3x	as long as short
Lighter CRCL	+0.0224%	1h	92.350	+0.206%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	92.258	+0.106%	$27K	$92K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0400%	1h	92.310	+0.163%	$4K	$769K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.640	+0.521%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0920%	4h	92.305	+0.157%	$23K	$266K	10x	as long as short