Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h −0.023%

Price spread now: Aster against Extended+0.066%7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$240.239% of the position

Long on Extended Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$5 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now +0.066%, 7d avg +0.044%

Together, before fees−0.052%+ Points / potential airdropExtended: Active · Aster: Stage 5 · farm board−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Aster is 0.022% dearer against Extended than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended CRCL_24_5-USD	94.703	0.0200	pay 0.0025% / 1h	39m 46s	$1.1M	$3.8M	10x
Short	Aster CRCLUSDT	94.766	0.0210	get 0.0210% / 8h	39m 46s	$1.1M	$4.9M	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 +0.066%Rate

Funding earned: $2.09
Price spread: +0.066% → +0.044%: $2.21
Slippage, 4 orders: −$10.91
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$19.6
Costs to cover: 0.239%
Break-even: 72.5 days

Slippage from Extended: 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 Extended live order book, 4 min ago	0.05 bp	4.7 bp −$5	29.8 bp −$298	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	1.58 bp	6.5 bp −$7	14.0 bp −$140	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
Gate CRCL_USDT	0.0000%	8h	94.740	+0.039%	$7.2M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.770	+0.070%	$1.0M	$52K	10x	as long as short
QFEX CRCL-USD	+0.0022%	1h	94.740	+0.039%	$1.4M	$2.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	94.510	−0.204%	$940K	$723K	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.710	+0.007%	—	$45K	25x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.708	+0.005%	$48K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.720	+0.018%	$1.1M	$5.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0052%	1h	94.723	+0.021%	$2K	$21K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0064%	1h	94.693	−0.011%	$367K	$1.1M	10x	as long as short
Lighter RH CRCL	+0.0072%	1h	94.741	+0.040%	$894K	$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
Pacifica CRCL	+0.0100%	1h	94.720	+0.018%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.720	+0.018%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.720	+0.018%	$70K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.720	+0.018%	$944	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.733	+0.032%	$4	—	10x	as long as short
Bybit CRCLUSDT	+0.0104%	8h	94.720	+0.018%	$15.6M	$25.9M	50x	as long as short
Paradex CRCL-USD-PERP	+0.0136%	8h	94.744	+0.042%	$777	$740	5x	as long as short
Variational Omni CRCL	+0.0139%	8h	94.783	+0.084%	$2.6M	$3.1M	—	as long as short
GRVT CRCL_USDT_Perp	+0.0177%	8h	94.871	+0.177%	$61K	$1.1M	10x	as long as short
Extended CRCL_24_5-USDlong	+0.0200%	1h	94.703	long leg	$1.1M	$3.8M	10x
Binance CRCLUSDT	+0.0202%	8h	94.720	+0.018%	$109.5M	$389.8M	50x	as long as short
OKX CRCL-USDT-SWAP	+0.0206%	8h	94.730	+0.028%	$22.9M	$60.7M	50x	as long as short
Aster CRCLUSDTshort	+0.0210%	8h	94.766	+0.066%	$1.1M	$4.9M	20x
edgeX CRCLUSDC	+0.0223%	4h	94.814	+0.117%	$24K	$269K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0250%	1h	94.688	−0.016%	$71.1M	$42.9M	10x	as long as short
Phoenix CRCL	+0.0288%	1h	94.749	+0.048%	$28K	$92K	10x	as long as short
Nado CRCL-PERP	+0.0312%	1h	94.646	−0.060%	$127K	$73K	3x	as long as short
BloFin CRCL-USDT	+0.0313%	8h	94.810	+0.113%	$1.1M	$595K	20x	as long as short
Bitget CRCLUSDT	+0.0317%	8h	94.720	+0.018%	$16.9M	$35.4M	25x	as long as short
Lighter CRCL	+0.0440%	1h	94.748	+0.047%	$3.1M	$2.2M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	95.560	+0.904%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0533%	1h	94.710	+0.007%	$97K	$275K	10x	as long as short
RISEx CRCL/USDC	+0.0534%	1h	94.744	+0.043%	$432K	$312K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0912%	1h	94.770	+0.070%	$4K	$772K	10x	as long as short