Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0023%/8h= +2.5% APRpaid last 24h −0.038%

Price spread now: Lighter RH against Aster+0.059%7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$260.257% of the position

Long on Aster Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.162%−$16 on $10k

Price spread, last 7 days+0.004%$0 · spread now +0.059%, 7d avg +0.001%

Together, before fees−0.158%+ Points / potential airdropAster: Stage 5 · Lighter RH: Points live · farm board−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH is 0.058% dearer against Aster than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.001%. Mind the row above: over the last 7 days funding on this pair cost −0.162%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster CRCLUSDT	90.880	0.0009	pay 0.0009% / 8h	2h 25m	$1.0M	$5.1M	20x
Short	Lighter RH CRCL	90.934	0.0032	get 0.0004% / 1h	25m 00s	$970K	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.059%Rate

Funding earned: $4.88
Price spread: +0.059% → +0.001%: $5.8
Slippage, 4 orders: −$17.66
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$14.98
Costs to cover: 0.257%
Break-even: 28.5 days

Slippage from Aster: live order book, 4 min ago; Lighter RH: live order book, 3 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	2.20 bp	10.7 bp −$11	50.1 bp −$501	doesn't fit	doesn't fit
Sell Lighter RH live order book, 3 min ago	1.10 bp	5.7 bp −$6	9.7 bp −$97	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	−0.0969%	8h	91.010	+0.143%	$16.7M	$36.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0074%	1h	90.640	−0.264%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	90.880	0.000%	$14.5M	$26.9M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	90.980	+0.110%	$7.5M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	90.870	−0.011%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	90.940	+0.066%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDTlong	+0.0009%	8h	90.880	long leg	$1.0M	$5.1M	20x
Binance CRCLUSDT	+0.0023%	8h	90.890	+0.011%	$103.3M	$395.8M	50x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	90.905	+0.027%	$1.0M	$5.7M	10x	as long as short
Lighter RH CRCLshort	+0.0032%	1h	90.934	+0.059%	$970K	$2.9M	10x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0039%	1h	90.985	+0.115%	$2K	$26K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	90.920	+0.044%	$92K	$290K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	90.813	−0.074%	$67.9M	$43.5M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	90.944	+0.070%	$381K	$1.3M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	90.872	−0.009%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	90.840	−0.044%	$999K	$5.2M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	90.960	+0.088%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	90.700	−0.198%	$883K	$598K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0090%	8h	90.972	+0.101%	$418	$905	5x	as long as short
BloFin CRCL-USDT	+0.0092%	8h	90.870	−0.011%	$1.1M	$1.6M	20x	as long as short
Pacifica CRCL	+0.0100%	1h	90.970	+0.099%	$133K	$161K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	90.950	+0.077%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	90.750	−0.143%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	90.910	+0.033%	$906	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	90.918	+0.041%	$4	—	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0105%	8h	91.230	+0.384%	$62K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0111%	8h	90.900	+0.022%	$22.0M	$61.9M	50x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	90.950	+0.077%	$414K	$294K	10x	as long as short
edgeX CRCLUSDC	+0.0136%	4h	90.812	−0.075%	$52K	$277K	10x	as long as short
Lighter CRCL	+0.0208%	1h	90.941	+0.067%	$2.9M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0210%	1h	91.148	+0.294%	$27K	$82K	10x	as long as short
Nado CRCL-PERP	+0.0299%	1h	90.945	+0.072%	$133K	$109K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0300%	1h	90.930	+0.055%	$4K	$768K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.650	+0.847%	$5K	$19K	30x	as long as short