Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0137%/8h= +15.0% APRpaid last 24h +0.026%

Price spread now: RISEx against Aster−0.037%7-day average +0.014% · 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−$33as in the Price arb table

costs, in and out, $10k−$280.281% of the position

Long on Aster Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.249%+$25 on $10k

Price spread, last 4 days (all we have)−0.065%−$7 · spread now −0.037%, 7d avg +0.014%

Together, before fees+0.184%+ Points / potential airdropAster: Stage 5 · farm board+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.050% cheaper against Aster than usual: you would sell low and buy high (spread −0.037% now, against its 7-day average of +0.014%). If the spread goes back, that is −$5 on $10k: about 29 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster CRCLUSDT	91.734	0.0134	pay 0.0134% / 8h	1h 02m	$1.0M	$5.1M	20x
Short	RISEx CRCL/USDC	91.700	0.0271	get 0.0034% / 1h	2m 01s	$418K	$266K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.037%Rate

Funding earned: $28.7
Price spread: −0.037% → +0.014%: −$5.02
Slippage, 4 orders: −$14.13
Fee Aster: 4 bp × 2 orders: −$8
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$4.45
Costs to cover: 0.281%
Break-even: 8.1 days

Slippage from Aster: live order book, 2 min ago; RISEx: live order book, 41 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	7.1 bp −$7	15.3 bp −$153	doesn't fit	doesn't fit
Sell RISEx live order book, 41 min ago	1.64 bp	4.6 bp −$5	5.2 bp −$52	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	−0.0351%	8h	91.750	+0.018%	$17.6M	$37.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0080%	1h	91.450	−0.309%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.710	−0.026%	$7.8M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.720	−0.015%	$1.0M	$48K	10x	as long as short
Bybit CRCLUSDT	+0.0002%	8h	91.710	−0.026%	$14.7M	$26.7M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	91.671	−0.069%	$2K	$28K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.740	+0.007%	$95K	$292K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.678	−0.061%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.610	−0.135%	$1.1M	$5.3M	10x	as long as short
Variational Omni CRCL	+0.0051%	8h	91.859	+0.137%	$2.4M	$3.2M	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0056%	1h	91.718	−0.017%	$980K	$2.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0056%	1h	91.790	+0.062%	$894K	$441K	10x	as long as short
QFEX CRCL-USD	+0.0068%	1h	91.660	−0.080%	$1.3M	$1.8M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.675	−0.064%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.710	−0.026%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.690	−0.047%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.690	−0.047%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.702	−0.034%	$4	—	10x	as long as short
tradeXYZ xyz:CRCL	+0.0111%	1h	91.641	−0.101%	$67.8M	$44.2M	10x	as long as short
Aster CRCLUSDTlong	+0.0134%	8h	91.734	long leg	$1.0M	$5.1M	20x
Polymarket Perps CRCL-USD	+0.0149%	1h	91.672	−0.067%	$384K	$1.3M	10x	as long as short
Binance CRCLUSDT	+0.0149%	8h	91.693	−0.044%	$105.0M	$397.2M	50x	as long as short
Extended CRCL_24_5-USD	+0.0152%	1h	91.671	−0.068%	$1.0M	$5.0M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0187%	8h	91.669	−0.070%	$422	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0224%	8h	91.834	+0.109%	$64K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0233%	8h	91.710	−0.026%	$22.3M	$62.4M	50x	as long as short
Phoenix CRCL	+0.0245%	1h	91.776	+0.046%	$27K	$82K	10x	as long as short
BloFin CRCL-USDT	+0.0268%	8h	91.810	+0.083%	$1.1M	$1.7M	20x	as long as short
RISEx CRCL/USDCshort	+0.0271%	1h	91.700	−0.037%	$418K	$266K	10x
Lighter CRCL	+0.0304%	1h	91.703	−0.033%	$3.0M	$2.4M	10x	as long as short
edgeX CRCLUSDC	+0.0352%	4h	91.819	+0.094%	$52K	$277K	10x	as long as short
Nado CRCL-PERP	+0.0429%	1h	91.616	−0.128%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.270	+0.585%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0514%	1h	91.680	−0.058%	$5K	$769K	10x	as long as short