Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0152%/8h= +16.7% APRpaid last 24h −0.006%

Price spread now: Aster against SoDEX+0.042%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on SoDEX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Aster is 0.042% dearer against SoDEX than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX CRCL-USD	94.190	0.0050	pay 0.0006% / 1h	14m 02s	$47K	$3K	10x
Short	Aster CRCLUSDT	94.230	0.0202	get 0.0202% / 8h	1h 14m	$1.1M	$4.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against SoDEX. 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 SoDEXbpFee AsterbpOrdersPrice spread, now +0.042%Rate

Funding earned: $31.96
Price spread: +0.042% → 0.000%: $4.25
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: $20.2
Costs to cover: 0.160%
Break-even: 2.6 days

Slippage unknown: SoDEX: no order-book sample; Aster: live order book, 5 min ago. Net counts fees only.

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 SoDEX no order-book sample	—	—	—	—	—
Sell Aster live order book, 5 min ago	1.59 bp	6.5 bp −$6	14.3 bp −$143	doesn't fit	doesn't fit

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Gate CRCL_USDT	0.0000%	8h	94.220	+0.032%	$7.2M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.190	0.000%	$1.0M	$52K	10x	as long as short
edgeX CRCLUSDC	+0.0003%	4h	94.285	+0.101%	$24K	$268K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.241	+0.054%	$888K	$2.9M	10x	as long as short
QFEX CRCL-USD	+0.0033%	1h	94.220	+0.032%	$1.4M	$2.7M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.130	−0.064%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0048%	1h	94.228	+0.041%	$2K	$20K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.179	−0.012%	$365K	$1.1M	10x	as long as short
SoDEX CRCL-USDlong	+0.0050%	1h	94.190	long leg	$47K	$3K	10x
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.110	−0.085%	$1.1M	$5.8M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International CRCL-PERP-INTX	+0.0080%	1h	94.100	−0.096%	$936K	$730K	10x	as long as short
Bybit CRCLUSDT	+0.0085%	8h	94.230	+0.042%	$15.5M	$25.8M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	94.150	−0.042%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.250	+0.064%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.220	+0.032%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.200	+0.011%	$939	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.220	+0.032%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0138%	8h	94.263	+0.078%	$2.5M	$3.2M	—	as long as short
Paradex CRCL-USD-PERP	+0.0139%	8h	94.194	+0.004%	$772	$740	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0151%	8h	94.270	+0.085%	$63K	$1.2M	10x	as long as short
RISEx CRCL/USDC	+0.0159%	1h	94.200	+0.011%	$430K	$310K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0176%	1h	94.183	−0.007%	$70.6M	$42.8M	10x	as long as short
Binance CRCLUSDT	+0.0184%	8h	94.194	+0.005%	$108.3M	$388.4M	50x	as long as short
Extended CRCL_24_5-USD	+0.0184%	1h	94.176	−0.015%	$1.1M	$3.8M	10x	as long as short
Aster CRCLUSDTshort	+0.0202%	8h	94.230	+0.042%	$1.1M	$4.9M	20x
OKX CRCL-USDT-SWAP	+0.0204%	8h	94.190	0.000%	$22.7M	$60.3M	50x	as long as short
Phoenix CRCL	+0.0212%	1h	94.272	+0.087%	$28K	$92K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	94.180	−0.011%	$96K	$275K	10x	as long as short
Nado CRCL-PERP	+0.0262%	1h	94.139	−0.054%	$126K	$73K	3x	as long as short
Lighter CRCL	+0.0288%	1h	94.240	+0.053%	$3.0M	$2.3M	10x	as long as short
BloFin CRCL-USDT	+0.0306%	8h	94.170	−0.021%	$1.1M	$580K	20x	as long as short
Bitget CRCLUSDT	+0.0319%	8h	94.210	+0.021%	$16.7M	$35.1M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.760	+0.605%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0494%	1h	94.200	+0.011%	$4K	$772K	10x	as long as short