Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h −0.038%

Price spread now: Lighter RH against Aster+0.020%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$210.214% of the position

Long on Aster Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.162%−$16 on $10k

Price spread, last 7 days−0.024%−$2 · spread now +0.020%, 7d avg −0.003%

Together, before fees−0.186%+ Points / potential airdropAster: Stage 5 · Lighter RH: Points live · farm board−$19 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 Lighter RH is 0.023% dearer against Aster than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.003%. Mind the row above: over the last 7 days funding on this pair cost −0.162%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster CRCLUSDT	92.252	0.0012	pay 0.0012% / 8h	5h 10m	$1.1M	$4.9M	20x
Short	Lighter RH CRCL	92.271	0.0032	get 0.0004% / 1h	10m 02s	$979K	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.020%Rate

Funding earned: $4.21
Price spread: +0.020% → −0.003%: $2.27
Slippage, 4 orders: −$13.36
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$14.87
Costs to cover: 0.214%
Break-even: 31.7 days

Slippage from Aster: live order book, 4 min ago; Lighter RH: 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 Aster live order book, 4 min ago	1.63 bp	7.0 bp −$7	14.8 bp −$148	doesn't fit	doesn't fit
Sell Lighter RH live order book, 3 min ago	2.77 bp	3.6 bp −$4	7.7 bp −$77	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	−0.1096%	8h	92.270	+0.019%	$16.1M	$34.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0076%	1h	92.040	−0.230%	—	$31K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	92.190	−0.068%	$910K	$502K	10x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	92.190	−0.068%	$1.1M	$5.7M	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.240	−0.013%	$15.2M	$25.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.309	+0.061%	$421K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.280	+0.030%	$7.2M	$26.9M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.197	−0.060%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	92.109	−0.156%	$68K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.220	−0.035%	$1.0M	$49K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CRCLUSDT	+0.0003%	8h	92.220	−0.035%	$105.4M	$386.2M	50x	as long as short
OKX CRCL-USDT-SWAP	+0.0012%	8h	92.250	−0.003%	$21.7M	$59.8M	50x	as long as short
Aster CRCLUSDTlong	+0.0012%	8h	92.252	long leg	$1.1M	$4.9M	20x
BloFin CRCL-USDT	+0.0016%	8h	92.330	+0.084%	$1.1M	$1.3M	20x	as long as short
Aftermath Perps CRCLUSD	+0.0023%	1h	92.069	−0.199%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	92.270	+0.019%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCLshort	+0.0032%	1h	92.271	+0.020%	$979K	$2.9M	10x
Arcus CRCL-USD	+0.0040%	1h	92.120	−0.143%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.184	−0.074%	$68.7M	$41.4M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.220	−0.035%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.241	−0.012%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.030	−0.241%	$1.0M	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0086%	8h	92.302	+0.054%	$757	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	92.318	+0.071%	$133K	$156K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.240	−0.013%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.980	−0.295%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.240	−0.013%	$920	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.239	−0.015%	$4	—	10x	as long as short
Phoenix CRCL	+0.0183%	1h	92.048	−0.222%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0226%	1h	92.284	+0.034%	$131K	$104K	3x	as long as short
Lighter CRCL	+0.0232%	1h	92.268	+0.017%	$3.0M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0292%	1h	92.270	+0.019%	$4K	$767K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.530	+0.301%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0965%	4h	92.084	−0.183%	$23K	$248K	10x	as long as short