Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0016%/8h= +1.8% APRpaid last 24h −0.028%

Price spread now: Coinbase International against Aster−0.080%7-day average −0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$390.394% of the position

Long on Aster Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.033%+$3 on $10k

Price spread, last 4 days (all we have)+0.042%+$4 · spread now −0.080%, 7d avg −0.053%

Together, before fees+0.075%+ Points / potential airdropAster: Stage 5 · farm board+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.028% cheaper against Aster than usual: you would sell low and buy high (spread −0.080% now, against its 7-day average of −0.053%). If the spread goes back, that is −$3 on $10k: about 5.8 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster CRCLUSDT	91.774	0	get 0.0000% / 8h	4h 40m	$1.1M	$5.0M	20x
Short	Coinbase International CRCL-PERP-INTX	91.700	0.0016	get 0.0002% / 1h	40m 10s	$905K	$490K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.080%Rate

Funding earned: $3.36
Price spread: −0.080% → −0.053%: −$2.79
Slippage, 4 orders: −$21.42
Fee Aster: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$38.85
Costs to cover: 0.394%
Break-even: 87.9 days

Slippage from Aster: live order book, 4 min ago; Coinbase International: live order book, 18 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	10.7 bp −$11	39.8 bp −$398	doesn't fit	doesn't fit
Sell Coinbase International live order book, 18 min ago	5.44 bp	10.4 bp −$10	16.9 bp −$169	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	−0.0970%	8h	91.750	−0.026%	$16.2M	$34.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.490	−0.309%	—	$31K	25x	as long as short
Aster CRCLUSDTlong	0.0000%	8h	91.774	long leg	$1.1M	$5.0M	20x
Extended CRCL_24_5-USD	0.0000%	1h	91.706	−0.074%	$1.1M	$5.6M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.660	−0.124%	$104.5M	$388.2M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.660	−0.124%	$14.9M	$26.3M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.776	+0.003%	$418K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.730	−0.048%	$7.2M	$27.0M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.678	−0.104%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.820	+0.050%	$64K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.690	−0.091%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0015%	8h	91.660	−0.124%	$22.0M	$60.6M	50x	as long as short
Coinbase International CRCL-PERP-INTXshort	+0.0016%	1h	91.700	−0.080%	$905K	$490K	10x
edgeX CRCLUSDC	+0.0023%	4h	91.866	+0.101%	$51K	$275K	10x	as long as short
QFEX CRCL-USD	+0.0028%	1h	91.750	−0.026%	$1.3M	$2.0M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0029%	1h	91.744	−0.032%	$2K	$24K	5x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.662	−0.122%	$973K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.930	+0.170%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.600	−0.189%	$68.3M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.723	−0.055%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.635	−0.151%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.750	−0.026%	$992K	$5.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0088%	8h	91.713	−0.066%	$422	$905	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.730	−0.048%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.710	−0.070%	$2.7M	$2.0M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.740	−0.037%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.720	−0.059%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.722	−0.056%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.670	−0.113%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	91.674	−0.109%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0192%	1h	91.680	−0.102%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0304%	1h	91.644	−0.142%	$130K	$104K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.190	+0.453%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0514%	1h	91.750	−0.026%	$4K	$767K	10x	as long as short