Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −11.0% APRpaid last 24h −0.021%

Price spread now: tradeXYZ against Aster−0.103%7-day average −0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$380.381% of the position

Long on Aster Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.079%−$8 on $10k

Price spread, last 7 days−0.004%$0 · spread now −0.103%, 7d avg −0.065%

Together, before fees−0.082%+ Points / potential airdropAster: Stage 5 · tradeXYZ: Active · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and tradeXYZ is 0.038% cheaper against Aster than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.065%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster CRCLUSDT	91.240	0.0190	pay 0.0190% / 8h	10m 54s	$1.0M	$5.0M	20x
Short	tradeXYZ xyz:CRCL	91.146	0.0090	get 0.0011% / 1h	10m 54s	$67.2M	$44.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.103%Rate

Funding earned: −$21.08
Price spread: −0.103% → −0.065%: −$3.79
Slippage, 4 orders: −$12.06
Fee Aster: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$62.93
Costs to cover: 0.381%
Break-even: never at this rate

Slippage from Aster: live order book, 3 min ago; tradeXYZ: 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, 3 min ago	3.28 bp	10.3 bp −$10	53.9 bp −$539	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 9 min ago	0.49 bp	9.9 bp −$10	doesn't fit	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	−0.0354%	8h	91.280	+0.044%	$17.5M	$36.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0080%	1h	90.930	−0.339%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.250	+0.011%	$7.8M	$27.9M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.230	−0.011%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.212	−0.030%	$982K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.174	−0.072%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.220	−0.021%	$95K	$296K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.200	−0.043%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.210	−0.032%	$1.1M	$4.8M	10x	as long as short
Bybit CRCLUSDT	+0.0057%	8h	91.250	+0.011%	$14.8M	$26.5M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.220	−0.021%	$1.3M	$1.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.070	−0.186%	$871K	$500K	10x	as long as short
tradeXYZ xyz:CRCLshort	+0.0090%	1h	91.146	−0.103%	$67.2M	$44.3M	10x
Pacifica CRCL	+0.0100%	1h	91.170	−0.076%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.200	−0.043%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.230	−0.011%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.200	−0.043%	$909	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.212	−0.030%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0128%	8h	91.194	−0.050%	$2.4M	$3.3M	—	as long as short
Polymarket Perps CRCL-USD	+0.0154%	1h	91.208	−0.035%	$377K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0157%	8h	91.188	−0.057%	$419	$905	5x	as long as short
Aster CRCLUSDTlong	+0.0190%	8h	91.240	long leg	$1.0M	$5.0M	20x
Binance CRCLUSDT	+0.0207%	8h	91.217	−0.025%	$104.7M	$389.3M	50x	as long as short
Extended CRCL_24_5-USD	+0.0208%	1h	91.187	−0.058%	$1.0M	$5.0M	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.164	−0.083%	$27K	$74K	10x	as long as short
Lighter CRCL	+0.0232%	1h	91.217	−0.025%	$2.9M	$2.4M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0251%	8h	91.335	+0.105%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0281%	8h	91.220	−0.021%	$22.3M	$61.6M	50x	as long as short
BloFin CRCL-USDT	+0.0327%	8h	91.210	−0.032%	$1.1M	$1.7M	20x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0409%	1h	91.160	−0.087%	$5K	$769K	10x	as long as short
Nado CRCL-PERP	+0.0432%	1h	91.152	−0.096%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.740	+0.548%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.240	0.000%	$412K	$270K	10x	as long as short
edgeX CRCLUSDC	+0.0610%	4h	91.186	−0.059%	$52K	$271K	10x	as long as short