Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0226%/8h= −24.8% APRpaid last 24h −0.046%

Price spread now: Ondo Perps against Aster+0.151%7-day average −0.142% · you sell dearer than you buy

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

Long on Aster Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.179%−$18 on $10k

Price spread, last 7 days−1.049%−$105 · spread now +0.151%, 7d avg −0.142%

Together, before fees−1.228%+ Points / potential airdropAster: Stage 5 · Ondo Perps: Active · farm board−$123 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Ondo Perps is 0.294% dearer against Aster than usual: you sell high and buy low (spread +0.151% now, against its 7-day average of −0.142%): +$29 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 4.3 days. At the pace of the last 7 days (−0.179% in total) that is about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster CRCLUSDT	95.326	0.0277	pay 0.0277% / 8h	4h 50m	$1.2M	$4.7M	20x
Short	Ondo Perps CRCL-USD.P	95.470	0.0050	get 0.0006% / 1h	50m 03s	$1.1M	$4.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Aster. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now +0.151%Rate

Funding earned: −$47.49
Price spread: +0.151% → −0.142%: $29.36
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$31.13
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Aster: live order book, 2 min ago; Ondo Perps: no order-book sample. 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 Aster live order book, 2 min ago	2.09 bp	8.4 bp −$8	243.2 bp −$2,432	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo 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 exchanges

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
Coinbase International CRCL-PERP-INTX	−0.0024%	1h	95.490	+0.172%	$871K	$805K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	95.360	+0.036%	$15.7M	$28.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	95.671	+0.363%	$425K	$228K	10x	as long as short
Bitget CRCLUSDT	0.0000%	8h	95.300	−0.027%	$19.3M	$39.3M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	95.320	−0.006%	$1.1M	$47K	10x	as long as short
QFEX CRCL-USD	+0.0014%	1h	95.610	+0.298%	$1.4M	$1.7M	10x	as long as short
Gate CRCL_USDT	+0.0028%	8h	95.510	+0.193%	$7.7M	$26.4M	50x	as long as short
Injective CRCL/USDC PERP	+0.0033%	1h	95.630	+0.319%	$39K	$172K	30x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	95.146	−0.189%	$2K	$29K	5x	as long as short
Lighter RH CRCL	+0.0040%	1h	95.389	+0.066%	$1.0M	$2.6M	10x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest CRCL-USD-PERP	+0.0046%	1h	95.690	+0.382%	—	$29K	25x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	95.254	−0.075%	$69.2M	$44.2M	10x	as long as short
Ondo Perps CRCL-USD.Pshort	+0.0050%	1h	95.470	+0.151%	$1.1M	$4.3M	10x
Arcus CRCL-USD	+0.0057%	1h	95.620	+0.309%	$96K	$233K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	95.625	+0.314%	$142K	$149K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	95.380	+0.057%	$2.5M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	95.850	+0.550%	$98K	$26K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	95.440	+0.120%	$752	$2K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0103%	8h	95.600	+0.288%	$440	$477	5x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	95.562	+0.247%	$4	—	10x	as long as short
Phoenix CRCL	+0.0136%	1h	95.413	+0.092%	$28K	$94K	10x	as long as short
Variational Omni CRCL	+0.0157%	8h	95.650	+0.340%	$2.7M	$3.3M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0209%	8h	95.320	−0.006%	$23.6M	$66.9M	50x	as long as short
Extended CRCL_24_5-USD	+0.0256%	1h	95.288	−0.040%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0260%	8h	95.380	+0.057%	$111.9M	$392.4M	50x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0274%	1h	95.420	+0.099%	$5K	$415K	10x	as long as short
Aster CRCLUSDTlong	+0.0277%	8h	95.326	long leg	$1.2M	$4.7M	20x
edgeX CRCLUSDC	+0.0287%	4h	95.658	+0.349%	$55K	$278K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0324%	8h	95.670	+0.361%	$66K	$1.0M	10x	as long as short
Nado CRCL-PERP	+0.0357%	1h	95.607	+0.296%	$153K	$93K	3x	as long as short
BloFin CRCL-USDT	+0.0375%	8h	95.540	+0.225%	$1.1M	$1.8M	20x	as long as short
Polymarket Perps CRCL-USD	+0.0393%	1h	95.700	+0.393%	$284K	$1.1M	10x	as long as short
Lighter CRCL	+0.0424%	1h	95.521	+0.205%	$3.3M	$2.4M	10x	as long as short
SoDEX CRCL-USD	+0.2373%	1h	95.462	+0.143%	$48K	$3K	10x	as long as short