Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0006%/8h= −0.6% APRpaid last 24h +0.010%

Price spread now: Extended against Aster−0.039%7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$270.271% of the position

Long on Aster Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.025%+$3 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now −0.039%, 7d avg −0.043%

Together, before fees−0.003%+ Points / potential airdropAster: Stage 5 · Extended: Active · farm board$0 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster CRCLUSDT	91.881	0.0070	pay 0.0070% / 8h	6h 23m	$1.1M	$4.9M	20x
Short	Extended CRCL_24_5-USD	91.846	0.0064	get 0.0008% / 1h	23m 05s	$1.1M	$5.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.039%Rate

Funding earned: −$1.23
Price spread: −0.039% → −0.043%: $0.39
Slippage, 4 orders: −$14.12
Fee Aster: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$27.95
Costs to cover: 0.271%
Break-even: never at this rate

Slippage from Aster: live order book, 6 min ago; Extended: live order book, 6 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, 6 min ago	1.08 bp	9.4 bp −$9	65.9 bp −$659	doesn't fit	doesn't fit
Sell Extended live order book, 6 min ago	0.54 bp	5.5 bp −$5	22.1 bp −$221	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	−0.0658%	8h	91.990	+0.118%	$16.0M	$35.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0027%	1h	91.680	−0.219%	—	$40K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.950	+0.075%	$915K	$583K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.910	+0.031%	$15.0M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.910	+0.031%	$420K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.920	+0.042%	$7.1M	$26.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.310	+0.467%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	92.096	+0.234%	$71K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.950	+0.075%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0025%	1h	92.040	+0.172%	$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	91.933	+0.056%	$977K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.030	+0.162%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.845	−0.039%	$69.1M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.832	−0.053%	$355K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.896	+0.016%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.840	−0.045%	$1.0M	$5.5M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.850	−0.034%	$1.3M	$2.4M	10x	as long as short
Binance CRCLUSDT	+0.0063%	8h	91.888	+0.008%	$104.8M	$393.2M	50x	as long as short
OKX CRCL-USDT-SWAP	+0.0063%	8h	91.900	+0.021%	$21.7M	$60.2M	50x	as long as short
Extended CRCL_24_5-USDshort	+0.0064%	1h	91.846	−0.039%	$1.1M	$5.7M	10x
Aster CRCLUSDTlong	+0.0070%	8h	91.881	long leg	$1.1M	$4.9M	20x
Paradex CRCL-USD-PERP	+0.0076%	8h	91.899	+0.020%	$754	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.914	+0.035%	$129K	$153K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.930	+0.053%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.120	+0.260%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.860	−0.023%	$916	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.877	−0.005%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0158%	1h	91.884	+0.003%	$131K	$103K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0185%	1h	91.890	+0.010%	$4K	$769K	10x	as long as short
Lighter CRCL	+0.0224%	1h	91.937	+0.061%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	92.115	+0.255%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.500	+0.674%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0566%	4h	92.183	+0.328%	$23K	$267K	10x	as long as short