Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0042%/8h= +4.5% APRpaid last 24h −0.020%

Price spread now: Aster against Extended−0.084%7-day average +0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

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

costs, in and out, $10k−$290.294% of the position

Long on Extended Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 4 days (all we have)+0.158%+$16 · spread now −0.084%, 7d avg +0.045%

Together, before fees+0.116%+ Points / potential airdropExtended: Active · Aster: Stage 5 · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.129% cheaper against Extended than usual: you would sell low and buy high (spread −0.084% now, against its 7-day average of +0.045%). If the spread goes back, that is −$13 on $10k: about 10 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended CRCL_24_5-USD	94.547	0	get 0.0000% / 1h	23m 43s	$1.1M	$3.8M	10x
Short	Aster CRCLUSDT	94.468	0.0042	get 0.0042% / 8h	2h 23m	$1.1M	$4.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Extended. 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 ExtendedbpFee AsterbpOrdersPrice spread, now −0.084%Rate

Funding earned: $8.72
Price spread: −0.084% → +0.045%: −$12.87
Slippage, 4 orders: −$16.44
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$33.59
Costs to cover: 0.294%
Break-even: 34.0 days

Slippage from Extended: live order book, 5 min ago; Aster: live order book, 5 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 Extended live order book, 5 min ago	2.12 bp	7.5 bp −$7	85.3 bp −$853	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	1.59 bp	8.6 bp −$9	18.0 bp −$180	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
Extended CRCL_24_5-USDlong	0.0000%	1h	94.547	long leg	$1.1M	$3.8M	10x
RISEx CRCL/USDC	0.0000%	1h	94.560	+0.013%	$431K	$310K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.580	+0.034%	$7.2M	$27.8M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	94.532	−0.017%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.450	−0.103%	$50K	$1.2M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.480	−0.071%	$1.0M	$50K	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	94.570	+0.024%	$108.6M	$389.3M	50x	as long as short
QFEX CRCL-USD	+0.0020%	1h	94.540	−0.008%	$1.4M	$2.7M	10x	as long as short
Bybit CRCLUSDT	+0.0023%	8h	94.580	+0.034%	$15.5M	$25.9M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.607	+0.063%	$882K	$2.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster CRCLUSDTshort	+0.0042%	8h	94.468	−0.084%	$1.1M	$4.8M	20x
Aftermath Perps CRCLUSD	+0.0043%	1h	94.383	−0.174%	$2K	$19K	5x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.510	−0.040%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.426	−0.128%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.574	+0.028%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.480	−0.071%	$1.1M	$5.9M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0051%	1h	94.680	+0.140%	$71.1M	$42.8M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.601	+0.057%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.520	−0.029%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.300	−0.262%	$69K	$5K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.520	−0.029%	$942	$3K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0102%	8h	94.642	+0.100%	$719	$428	5x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.545	−0.002%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	94.530	−0.018%	$1.1M	$589K	20x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0144%	1h	94.390	−0.167%	$939K	$743K	10x	as long as short
Nado CRCL-PERP	+0.0201%	1h	94.409	−0.147%	$126K	$73K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0225%	8h	94.560	+0.013%	$22.8M	$60.8M	50x	as long as short
Phoenix CRCL	+0.0228%	1h	94.600	+0.056%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0256%	1h	94.602	+0.058%	$3.1M	$2.4M	10x	as long as short
Bitget CRCLUSDT	+0.0335%	8h	94.570	+0.024%	$16.8M	$35.2M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.830	+0.299%	$5K	$20K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0490%	1h	94.700	+0.161%	$4K	$771K	10x	as long as short
Arcus CRCL-USD	+0.0560%	1h	94.580	+0.034%	$97K	$272K	10x	as long as short
edgeX CRCLUSDC	+0.0931%	4h	94.439	−0.115%	$24K	$266K	10x	as long as short