Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0001%/8h= −0.2% APRpaid last 24h +0.008%

Price spread now: Extended against Aster−0.023%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$260.263% of the position

Long on Aster Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.027%+$3 on $10k

Price spread, last 7 days−0.076%−$8 · spread now −0.023%, 7d avg −0.049%

Together, before fees−0.050%+ Points / potential airdropAster: Stage 5 · Extended: Active · farm board−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.026% dearer against Aster than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster CRCLUSDT	91.598	0.0001	pay 0.0001% / 8h	5h 25m	$1.1M	$4.9M	20x
Short	Extended CRCL_24_5-USD	91.576	0	get 0.0000% / 1h	25m 53s	$1.1M	$5.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$0.3
Price spread: −0.023% → −0.049%: $2.58
Slippage, 4 orders: −$13.29
Fee Aster: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$24.01
Costs to cover: 0.263%
Break-even: never at this rate

Slippage from Aster: live order book, 3 min ago; Extended: live order book, 3 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	1.64 bp	7.5 bp −$7	23.3 bp −$233	doesn't fit	doesn't fit
Sell Extended live order book, 3 min ago	0.65 bp	5.4 bp −$5	26.1 bp −$261	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	−0.1307%	8h	91.640	+0.046%	$15.8M	$34.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0077%	1h	91.360	−0.260%	—	$35K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.470	−0.139%	$903K	$518K	10x	as long as short
Extended CRCL_24_5-USDshort	0.0000%	1h	91.576	−0.023%	$1.1M	$5.7M	10x
Binance CRCLUSDT	0.0000%	8h	91.604	+0.007%	$104.5M	$385.0M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.640	+0.046%	$15.0M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.589	−0.009%	$418K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.650	+0.057%	$7.1M	$26.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.576	−0.023%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.701	+0.113%	$65K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.600	+0.003%	$1.0M	$49K	10x	as long as short
Aster CRCLUSDTlong	+0.0001%	8h	91.598	long leg	$1.1M	$4.9M	20x
OKX CRCL-USDT-SWAP	+0.0006%	8h	91.640	+0.046%	$21.5M	$59.4M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0019%	1h	91.582	−0.018%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.550	−0.052%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.627	+0.032%	$973K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.590	−0.008%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.577	−0.023%	$68.4M	$41.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.572	−0.028%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.560	−0.041%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.570	−0.030%	$974K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0069%	8h	91.588	−0.011%	$751	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.552	−0.050%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.590	−0.008%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.820	+0.243%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.590	−0.008%	$913	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.579	−0.020%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.610	+0.013%	$1.1M	$1.3M	20x	as long as short
edgeX CRCLUSDC	+0.0180%	4h	91.668	+0.077%	$23K	$248K	10x	as long as short
Phoenix CRCL	+0.0183%	1h	91.684	+0.094%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0190%	1h	91.534	−0.069%	$130K	$104K	3x	as long as short
Lighter CRCL	+0.0208%	1h	91.628	+0.033%	$3.0M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.130	+0.581%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0624%	1h	91.640	+0.046%	$4K	$767K	10x	as long as short