Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0013%/8h= −1.4% APRpaid last 24h +0.021%

Price spread now: Aster against tradeXYZ+0.118%7-day average +0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$400.396% of the position

Long on tradeXYZ Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 7 days−0.054%−$5 · spread now +0.118%, 7d avg +0.064%

Together, before fees+0.026%+ Points / potential airdroptradeXYZ: Active · Aster: Stage 5 · farm board+$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.055% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.118% now, against its 7-day average of +0.064%): +$5 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 14 days. Mind the row above: over the last 7 days funding on this pair paid +0.079%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:CRCL	91.175	0.0095	pay 0.0012% / 1h	38m 20s	$67.4M	$44.4M	10x
Short	Aster CRCLUSDT	91.283	0.0082	get 0.0082% / 8h	1h 38m	$1.0M	$5.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against tradeXYZ. 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 tradeXYZbpFee AsterbpOrdersPrice spread, now +0.118%Rate

Funding earned: −$2.7
Price spread: +0.118% → +0.064%: $5.47
Slippage, 4 orders: −$13.58
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Aster: 4 bp × 2 orders: −$8
Net: −$36.81
Costs to cover: 0.396%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 11 min ago; Aster: live order book, 5 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 tradeXYZ live order book, 11 min ago	1.10 bp	10.7 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	2.19 bp	8.6 bp −$9	11.2 bp −$112	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	−0.0723%	8h	91.320	+0.159%	$17.4M	$37.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0086%	1h	90.950	−0.247%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.270	+0.104%	$14.6M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.280	+0.115%	$7.8M	$27.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.349	+0.191%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.250	+0.082%	$1.0M	$48K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	91.239	+0.070%	$2K	$27K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.270	+0.104%	$93K	$289K	10x	as long as short
Lighter RH CRCL	+0.0048%	1h	91.292	+0.128%	$975K	$2.7M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.251	+0.083%	$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	91.140	−0.038%	$1.1M	$5.2M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0056%	1h	91.200	+0.027%	$888K	$603K	10x	as long as short
QFEX CRCL-USD	+0.0068%	1h	91.230	+0.060%	$1.3M	$1.8M	10x	as long as short
Aster CRCLUSDTshort	+0.0082%	8h	91.283	+0.118%	$1.0M	$5.1M	20x
tradeXYZ xyz:CRCLlong	+0.0095%	1h	91.175	long leg	$67.4M	$44.4M	10x
Binance CRCLUSDT	+0.0095%	8h	91.259	+0.092%	$104.3M	$397.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0096%	1h	91.229	+0.059%	$1.0M	$5.1M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.200	+0.027%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.230	+0.060%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.200	+0.027%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.240	+0.071%	$910	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.258	+0.091%	$4	—	10x	as long as short
Polymarket Perps CRCL-USD	+0.0136%	1h	91.216	+0.045%	$382K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0164%	8h	91.228	+0.059%	$420	$905	5x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0189%	1h	91.230	+0.060%	$5K	$769K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0189%	8h	91.388	+0.233%	$67K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0190%	8h	91.340	+0.181%	$22.2M	$62.6M	50x	as long as short
BloFin CRCL-USDT	+0.0216%	8h	91.280	+0.115%	$1.1M	$1.7M	20x	as long as short
Phoenix CRCL	+0.0245%	1h	91.215	+0.044%	$27K	$82K	10x	as long as short
RISEx CRCL/USDC	+0.0271%	1h	91.255	+0.088%	$415K	$268K	10x	as long as short
Lighter CRCL	+0.0296%	1h	91.294	+0.131%	$2.9M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0422%	1h	91.193	+0.019%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.810	+0.696%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0709%	4h	91.353	+0.195%	$52K	$277K	10x	as long as short