Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0021%/8h= −2.3% APRpaid last 24h +0.030%

Price spread now: Arcus against Aster+0.093%7-day average −0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on Aster Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.050%+$5 on $10k

Price spread, last 4 days (all we have)−0.308%−$31 · spread now +0.093%, 7d avg −0.080%

Together, before fees−0.258%+ Points / potential airdropAster: Stage 5 · farm board−$26 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.173% dearer against Aster than usual: you sell high and buy low (spread +0.093% now, against its 7-day average of −0.080%): +$17 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 28 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster CRCLUSDT	91.735	0.0061	pay 0.0061% / 8h	6h 19m	$1.1M	$4.9M	20x
Short	Arcus CRCL-USD	91.820	0.0040	get 0.0005% / 1h	19m 30s	$93K	$273K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now +0.093%Rate

Funding earned: −$4.35
Price spread: +0.093% → −0.080%: $17.25
Slippage, 4 orders: −$27.36
Fee Aster: 4 bp × 2 orders: −$8
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$26.96
Costs to cover: 0.399%
Break-even: never at this rate

Slippage from Aster: live order book, 4 min ago; Arcus: live order book, 49 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, 4 min ago	1.63 bp	10.9 bp −$11	195.0 bp −$1,950	doesn't fit	doesn't fit
Sell Arcus live order book, 49 min ago	3.19 bp	10.1 bp −$10	14.3 bp −$143	doesn't fit	doesn't fit

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	−0.0760%	8h	91.810	+0.082%	$15.9M	$35.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0035%	1h	91.530	−0.223%	—	$40K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.700	−0.038%	$913K	$581K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.740	+0.006%	$15.0M	$25.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.713	−0.023%	$419K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.730	−0.005%	$7.1M	$26.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.938	+0.222%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.906	+0.186%	$63K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.830	+0.104%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0024%	1h	91.893	+0.172%	$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	91.747	+0.013%	$976K	$2.9M	10x	as long as short
Arcus CRCL-USDshort	+0.0040%	1h	91.820	+0.093%	$93K	$273K	10x
tradeXYZ xyz:CRCL	+0.0050%	1h	91.698	−0.040%	$68.9M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.682	−0.057%	$355K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.700	−0.038%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.770	+0.039%	$999K	$5.5M	10x	as long as short
Binance CRCLUSDT	+0.0052%	8h	91.719	−0.018%	$104.6M	$393.8M	50x	as long as short
Extended CRCL_24_5-USD	+0.0056%	1h	91.702	−0.036%	$1.1M	$5.7M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.710	−0.027%	$1.3M	$2.3M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0060%	8h	91.730	−0.005%	$21.7M	$60.2M	50x	as long as short
Aster CRCLUSDTlong	+0.0061%	8h	91.735	long leg	$1.1M	$4.9M	20x
Paradex CRCL-USD-PERP	+0.0074%	8h	91.724	−0.012%	$752	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.720	−0.017%	$132K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.770	+0.039%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.820	+0.093%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.710	−0.027%	$914	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.705	−0.032%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0153%	1h	91.744	+0.010%	$130K	$103K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0186%	1h	91.710	−0.027%	$4K	$769K	10x	as long as short
Lighter CRCL	+0.0208%	1h	91.757	+0.024%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	91.850	+0.126%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.500	+0.834%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0811%	4h	91.882	+0.161%	$23K	$267K	10x	as long as short