Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0130%/8h= −14.2% APRpaid last 24h −0.013%

Price spread now: Aster against Phoenix−0.005%85s7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

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

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$4 a day on $10k at the current rate. The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix CRCL	91.779	0.0245	pay 0.0031% / 1h	16m 10s	$27K	$82K	10x
Short	Aster CRCLUSDT	91.774	0.0115	get 0.0115% / 8h	1h 16m	$1.0M	$5.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Phoenix. 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 PhoenixbpFee AsterbpOrdersPrice spread, now −0.005%Rate

Funding earned: −$27.3
Price spread: −0.005% → 0.000%: −$0.53
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$42.83
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Aster: live order book, 3 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 Phoenix no order-book sample	—	—	—	—	—
Sell Aster live order book, 3 min ago	1.63 bp	7.5 bp −$8	10.9 bp −$109	doesn't fit	doesn't fit

Phoenix: 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
Bitget CRCLUSDT	−0.0524%	8h	91.810	+0.034%	$17.6M	$37.1M	25x	as long as short
Vest CRCL-USD-PERP	−0.0083%	1h	91.480	−0.326%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.780	+0.001%	$14.7M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.780	+0.001%	$7.8M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.750	−0.032%	$1.0M	$48K	10x	as long as short
Variational Omni CRCL	+0.0013%	8h	91.789	+0.011%	$2.4M	$3.2M	—	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.683	−0.104%	$2K	$28K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.720	−0.064%	$94K	$292K	10x	as long as short
Lighter RH CRCL	+0.0048%	1h	91.779	0.000%	$981K	$2.7M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.730	−0.053%	$46K	$3K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.670	−0.119%	$1.1M	$5.3M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0056%	1h	91.790	+0.012%	$894K	$616K	10x	as long as short
QFEX CRCL-USD	+0.0068%	1h	91.690	−0.097%	$1.3M	$1.8M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0097%	1h	91.715	−0.070%	$67.9M	$44.4M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.765	−0.016%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.700	−0.086%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.710	−0.075%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.730	−0.053%	$915	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.742	−0.040%	$4	—	10x	as long as short
Aster CRCLUSDTshort	+0.0115%	8h	91.774	−0.005%	$1.0M	$5.1M	20x
Binance CRCLUSDT	+0.0128%	8h	91.766	−0.014%	$105.0M	$398.1M	50x	as long as short
Extended CRCL_24_5-USD	+0.0128%	1h	91.734	−0.049%	$1.0M	$5.0M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0137%	1h	91.730	−0.053%	$384K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0176%	8h	91.764	−0.016%	$422	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0201%	8h	91.760	−0.021%	$64K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0216%	8h	91.780	+0.001%	$22.3M	$62.9M	50x	as long as short
BloFin CRCL-USDT	+0.0242%	8h	91.820	+0.045%	$1.1M	$1.7M	20x	as long as short
Phoenix CRCLlong	+0.0245%	1h	91.779	long leg	$27K	$82K	10x
edgeX CRCLUSDC	+0.0267%	4h	91.778	−0.001%	$52K	$278K	10x	as long as short
RISEx CRCL/USDC	+0.0271%	1h	91.730	−0.053%	$418K	$268K	10x	as long as short
Lighter CRCL	+0.0312%	1h	91.769	−0.011%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0419%	1h	91.691	−0.096%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.210	+0.470%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0732%	1h	91.750	−0.032%	$5K	$769K	10x	as long as short