Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.030%

Price spread now: Arcus against Aster+0.186%7-day average −0.077% · 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−$15as in the Price arb table

costs, in and out, $10k−$410.410% of the position

Long on Aster Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.052%+$5 on $10k

Price spread, last 4 days (all we have)−0.588%−$59 · spread now +0.186%, 7d avg −0.077%

Together, before fees−0.536%+ Points / potential airdropAster: Stage 5 · farm board−$54 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 Arcus is 0.263% dearer against Aster than usual: you sell high and buy low: +$26 more if the spread goes back to its 7-day average of −0.077%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster CRCLUSDT	91.759	0	get 0.0000% / 8h	4h 46m	$1.1M	$5.0M	20x
Short	Arcus CRCL-USD	91.930	0.0040	get 0.0005% / 1h	46m 40s	$93K	$273K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Aster. 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 AsterbpFee ArcusbpOrdersPrice spread, now +0.186%Rate

Funding earned: $8.46
Price spread: +0.186% → −0.077%: $26.34
Slippage, 4 orders: −$28.47
Fee Aster: 4 bp × 2 orders: −$8
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$6.17
Costs to cover: 0.410%
Break-even: 12.1 days

Slippage from Aster: live order book, 2 min ago; Arcus: live order book, 12 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 Aster live order book, 2 min ago	2.18 bp	7.2 bp −$7	22.9 bp −$229	doesn't fit	doesn't fit
Sell Arcus live order book, 12 min ago	1.63 bp	11.4 bp −$11	14.3 bp −$143	doesn't fit	doesn't fit

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	−0.0945%	8h	91.850	+0.099%	$16.2M	$34.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0068%	1h	91.550	−0.228%	—	$31K	25x	as long as short
Aster CRCLUSDTlong	0.0000%	8h	91.759	long leg	$1.1M	$5.0M	20x
Extended CRCL_24_5-USD	0.0000%	1h	91.778	+0.020%	$1.1M	$5.6M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.794	+0.037%	$104.6M	$387.6M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.790	+0.033%	$15.0M	$26.3M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.802	+0.047%	$419K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.790	+0.033%	$7.3M	$26.9M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.929	+0.185%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.879	+0.130%	$64K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.790	+0.033%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0008%	8h	91.800	+0.044%	$21.9M	$60.5M	50x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.800	+0.044%	$906K	$490K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0028%	1h	91.870	+0.120%	$2K	$24K	5x	as long as short
QFEX CRCL-USD	+0.0028%	1h	91.750	−0.010%	$1.3M	$2.0M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.824	+0.070%	$973K	$2.9M	10x	as long as short
Arcus CRCL-USDshort	+0.0040%	1h	91.930	+0.186%	$93K	$273K	10x
tradeXYZ xyz:CRCL	+0.0050%	1h	91.735	−0.027%	$68.4M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.762	+0.003%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.751	−0.009%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.790	+0.033%	$992K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0087%	8h	91.774	+0.016%	$422	$905	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.760	+0.001%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.760	+0.001%	$2.7M	$2.0M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.780	+0.022%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.750	−0.010%	$915	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.773	+0.015%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.820	+0.066%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	91.884	+0.136%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0216%	1h	91.823	+0.069%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0308%	1h	91.699	−0.066%	$131K	$104K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0404%	1h	91.780	+0.022%	$4K	$767K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.330	+0.622%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0952%	4h	91.850	+0.098%	$51K	$276K	10x	as long as short