Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0017%/8h= −1.8% APRpaid last 24h −0.035%

Price spread now: QFEX against Aster−0.064%7-day average −0.047% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$300.302% of the position

Long on Aster Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.038%−$4 on $10k

Price spread, last 7 days+0.081%+$8 · spread now −0.064%, 7d avg −0.047%

Together, before fees+0.043%+ Points / potential airdropAster: Stage 5 · farm board+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.047%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster CRCLUSDT	91.319	0.0085	pay 0.0085% / 8h	1h 32m	$1.0M	$5.1M	20x
Short	QFEX CRCL-USD	91.260	0.0068	get 0.0009% / 1h	32m 22s	$1.3M	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.064%Rate

Funding earned: −$3.48
Price spread: −0.064% → −0.047%: −$1.69
Slippage, 4 orders: −$12.2
Fee Aster: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$35.36
Costs to cover: 0.302%
Break-even: never at this rate

Slippage from Aster: live order book, 1 min ago; QFEX: live order book, 9 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, 1 min ago	1.64 bp	10.0 bp −$10	40.9 bp −$409	doesn't fit	doesn't fit
Sell QFEX live order book, 9 min ago	1.64 bp	6.6 bp −$7	8.5 bp −$85	16.2 bp −$1,624	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	−0.0723%	8h	91.390	+0.078%	$17.4M	$37.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0087%	1h	90.980	−0.371%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.320	+0.001%	$14.6M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.350	+0.034%	$7.8M	$27.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.259	−0.065%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.370	+0.056%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.288	−0.034%	$976K	$2.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.254	−0.071%	$2K	$27K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.260	−0.064%	$94K	$291K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.290	−0.031%	$46K	$3K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.120	−0.218%	$1.1M	$5.2M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0056%	1h	91.200	−0.130%	$888K	$603K	10x	as long as short
QFEX CRCL-USDshort	+0.0068%	1h	91.260	−0.064%	$1.3M	$1.8M	10x
tradeXYZ xyz:CRCL	+0.0075%	1h	91.237	−0.089%	$67.5M	$44.4M	10x	as long as short
Aster CRCLUSDTlong	+0.0085%	8h	91.319	long leg	$1.0M	$5.1M	20x
Extended CRCL_24_5-USD	+0.0096%	1h	91.259	−0.066%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0098%	8h	91.305	−0.015%	$104.3M	$397.4M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.285	−0.037%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.280	−0.042%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.190	−0.141%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.300	−0.020%	$910	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.302	−0.018%	$4	—	10x	as long as short
Polymarket Perps CRCL-USD	+0.0129%	1h	91.290	−0.031%	$382K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0159%	8h	91.327	+0.010%	$420	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0189%	8h	91.330	+0.012%	$67K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0196%	8h	91.330	+0.012%	$22.2M	$62.6M	50x	as long as short
BloFin CRCL-USDT	+0.0217%	8h	91.350	+0.034%	$1.1M	$1.7M	20x	as long as short
Phoenix CRCL	+0.0245%	1h	91.232	−0.095%	$27K	$82K	10x	as long as short
RISEx CRCL/USDC	+0.0271%	1h	91.314	−0.006%	$416K	$268K	10x	as long as short
Lighter CRCL	+0.0296%	1h	91.377	+0.064%	$2.9M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0407%	1h	91.340	+0.023%	$5K	$769K	10x	as long as short
Nado CRCL-PERP	+0.0410%	1h	91.182	−0.150%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.700	+0.418%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0904%	4h	91.319	0.000%	$52K	$277K	10x	as long as short