Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0295%/8h= −32.4% APRpaid last 24h −0.010%

Price spread now: Aster against RISEx−0.026%7-day average −0.013% · 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−$28as in the Price arb table

costs, in and out, $10k−$270.269% of the position

Long on RISEx Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.238%−$24 on $10k

Price spread, last 4 days (all we have)+0.601%+$60 · spread now −0.026%, 7d avg −0.013%

Together, before fees+0.363%+ Points / potential airdropAster: Stage 5 · farm board+$36 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx CRCL/USDC	90.854	0.0501	pay 0.0063% / 1h	29m 37s	$410K	$258K	10x
Short	Aster CRCLUSDT	90.830	0.0206	get 0.0206% / 8h	7h 29m	$1.0M	$5.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against RISEx. 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 RISExbpFee AsterbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$62.05
Price spread: −0.026% → −0.013%: −$1.24
Slippage, 4 orders: −$12.9
Fee RISEx: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: −$90.18
Costs to cover: 0.269%
Break-even: never at this rate

Slippage from RISEx: live order book, 4 min ago; Aster: live order book, 4 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 RISEx live order book, 4 min ago	1.65 bp	4.6 bp −$5	6.6 bp −$66	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	2.74 bp	7.6 bp −$8	12.1 bp −$121	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
Vest CRCL-USD-PERP	−0.0099%	1h	90.680	−0.191%	—	$31K	25x	as long as short
Bitget CRCLUSDT	−0.0034%	8h	90.900	+0.051%	$17.4M	$36.2M	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	90.850	−0.004%	$14.9M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	90.910	+0.062%	$7.8M	$26.5M	50x	as long as short
Deribit CRCL_USDC-PERPETUAL	0.0000%	1h	90.830	−0.026%	$5K	$764K	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	90.920	+0.073%	$1.0M	$47K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	90.866	+0.013%	$977K	$2.4M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	90.900	+0.051%	$937K	$571K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.008	+0.170%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	90.800	−0.059%	$94K	$283K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CRCL	+0.0050%	1h	90.783	−0.078%	$66.9M	$44.3M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	90.875	+0.023%	$375K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	90.861	+0.008%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	90.790	−0.070%	$1.1M	$4.7M	10x	as long as short
QFEX CRCL-USD	+0.0065%	1h	90.890	+0.040%	$1.3M	$1.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	90.830	−0.026%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	90.840	−0.015%	$2.6M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	90.980	+0.139%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	90.870	+0.018%	$906	$1K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0104%	8h	91.175	+0.354%	$71K	$1.1M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	90.892	+0.043%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0125%	8h	90.796	−0.064%	$418	$766	5x	as long as short
Variational Omni CRCL	+0.0148%	8h	90.940	+0.095%	$2.4M	$3.3M	—	as long as short
Aster CRCLUSDTshort	+0.0206%	8h	90.830	−0.026%	$1.0M	$5.0M	20x
Lighter CRCL	+0.0208%	1h	90.874	+0.022%	$2.9M	$2.1M	10x	as long as short
edgeX CRCLUSDC	+0.0217%	4h	91.065	+0.232%	$52K	$270K	10x	as long as short
Binance CRCLUSDT	+0.0220%	8h	90.824	−0.033%	$104.4M	$386.3M	50x	as long as short
Extended CRCL_24_5-USD	+0.0224%	1h	90.806	−0.052%	$1.1M	$5.1M	10x	as long as short
Phoenix CRCL	+0.0254%	1h	91.098	+0.269%	$27K	$66K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0285%	8h	90.850	−0.004%	$22.2M	$61.2M	50x	as long as short
BloFin CRCL-USDT	+0.0346%	8h	90.990	+0.150%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0367%	1h	90.899	+0.050%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.170	+1.449%	$5K	$19K	30x	as long as short
RISEx CRCL/USDClong	+0.0501%	1h	90.854	long leg	$410K	$258K	10x