Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0008%/8h= +0.9% APRpaid last 24h +0.033%

Price spread now: Aster against Ondo Perps+0.336%7-day average +0.148% · you sell dearer than you buy

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

Long on Ondo Perps Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.160%+$16 on $10k

Price spread, last 7 days−0.022%−$2 · spread now +0.336%, 7d avg +0.148%

Together, before fees+0.138%+ Points / potential airdropOndo Perps: Active · Aster: Stage 5 · farm board+$14 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: Aster is 0.188% dearer against Ondo Perps than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of +0.148%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps CRCL-USD.P	91.730	0.0050	pay 0.0006% / 1h	14m 58s	$999K	$5.5M	10x
Short	Aster CRCLUSDT	92.038	0.0059	get 0.0059% / 8h	6h 14m	$1.1M	$4.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Ondo Perps. 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 Ondo PerpsbpFee AsterbpOrdersPrice spread, now +0.336%Rate

Funding earned: $1.78
Price spread: +0.336% → +0.148%: $18.81
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: $7.6
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Ondo Perps: no order-book sample; Aster: live order book, 4 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Aster live order book, 4 min ago	2.17 bp	7.7 bp −$8	11.4 bp −$114	doesn't fit	doesn't fit

Ondo Perps: 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 33 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	−0.0835%	8h	92.120	+0.425%	$16.1M	$35.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0042%	1h	91.800	+0.076%	—	$40K	25x	as long as short
Gate CRCL_USDT	−0.0012%	8h	92.060	+0.360%	$7.1M	$26.8M	50x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.700	−0.033%	$913K	$580K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.040	+0.338%	$15.0M	$25.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.974	+0.266%	$420K	$299K	10x	as long as short
Variational Omni CRCL	0.0000%	8h	91.928	+0.216%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.730	0.000%	$69K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.010	+0.305%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0024%	1h	91.908	+0.194%	$2K	$23K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	92.063	+0.363%	$975K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.890	+0.174%	$93K	$273K	10x	as long as short
Extended CRCL_24_5-USD	+0.0048%	1h	91.993	+0.287%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0050%	8h	92.014	+0.309%	$104.9M	$394.3M	50x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.991	+0.285%	$69.1M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.952	+0.242%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.995	+0.289%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.Plong	+0.0050%	1h	91.730	long leg	$999K	$5.5M	10x
OKX CRCL-USDT-SWAP	+0.0056%	8h	92.040	+0.338%	$21.8M	$60.5M	50x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.970	+0.262%	$1.3M	$2.3M	10x	as long as short
Aster CRCLUSDTshort	+0.0059%	8h	92.038	+0.336%	$1.1M	$4.9M	20x
Paradex CRCL-USD-PERP	+0.0073%	8h	91.975	+0.267%	$754	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.982	+0.275%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.000	+0.294%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.720	−0.011%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.000	+0.294%	$917	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.014	+0.309%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0153%	1h	91.972	+0.264%	$131K	$104K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0185%	1h	92.040	+0.338%	$4K	$769K	10x	as long as short
Lighter CRCL	+0.0200%	1h	92.073	+0.374%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	91.952	+0.242%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.500	+0.839%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0678%	4h	91.707	−0.025%	$23K	$268K	10x	as long as short