Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h −0.033%

Price spread now: Ondo Perps against Aster−0.199%47s7-day average −0.144% · you buy dearer than you sell

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

Long on Aster Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.159%−$16 on $10k

Price spread, last 7 days−0.004%$0 · spread now −0.199%, 7d avg −0.144%

Together, before fees−0.163%+ Points / potential airdropAster: Stage 5 · Ondo Perps: Active · farm board−$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.054% cheaper against Aster than usual: you would sell low and buy high (spread −0.199% now, against its 7-day average of −0.144%). If the spread goes back, that is −$5 on $10k: about 5.5 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.159%, so the current rate has only just turned in your favour. The two prices were read 47 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	Aster CRCLUSDT	91.943	0.0017	pay 0.0017% / 8h	3h 17m	$1.1M	$5.0M	20x
Short	Ondo Perps CRCL-USD.P	91.760	0.0050	get 0.0006% / 1h	17m 57s	$1.0M	$5.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.199%Rate

Funding earned: $6.97
Price spread: −0.199% → −0.144%: −$5.43
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$11.46
Costs to cover: 0.130%
Break-even: 18.5 days

Slippage unknown: Aster: live order book, 6 min ago; Ondo Perps: no order-book sample. 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 Aster live order book, 6 min ago	1.63 bp	9.8 bp −$10	21.2 bp −$212	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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	−0.0689%	8h	91.940	−0.003%	$16.7M	$35.8M	25x	as long as short
Vest CRCL-USD-PERP	−0.0061%	1h	91.620	−0.351%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.930	−0.014%	$14.9M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.960	+0.019%	$7.3M	$27.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.999	+0.061%	$2.5M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.900	−0.047%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDTlong	+0.0017%	8h	91.943	long leg	$1.1M	$5.0M	20x
Extended CRCL_24_5-USD	+0.0024%	1h	91.891	−0.056%	$1.2M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0025%	8h	91.951	+0.009%	$104.8M	$392.5M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.909	−0.037%	$974K	$2.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0039%	1h	91.814	−0.140%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.860	−0.090%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.770	−0.188%	$911K	$519K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.835	−0.117%	$68.2M	$42.0M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.836	−0.116%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.878	−0.070%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.Pshort	+0.0050%	1h	91.760	−0.199%	$1.0M	$5.1M	10x
QFEX CRCL-USD	+0.0060%	1h	91.830	−0.123%	$1.3M	$1.9M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0067%	8h	91.791	−0.165%	$422	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0087%	8h	92.030	+0.095%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0095%	8h	91.930	−0.014%	$22.3M	$61.8M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.824	−0.129%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.890	−0.057%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.910	−0.036%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.870	−0.079%	$916	$2K	10x	as long as short
BloFin CRCL-USDT	+0.0101%	8h	91.880	−0.068%	$1.1M	$1.6M	20x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.875	−0.073%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.815	−0.138%	$418K	$299K	10x	as long as short
Phoenix CRCL	+0.0182%	1h	91.770	−0.188%	$27K	$82K	10x	as long as short
edgeX CRCLUSDC	+0.0226%	4h	91.934	−0.009%	$51K	$276K	10x	as long as short
Lighter CRCL	+0.0264%	1h	91.901	−0.045%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0358%	1h	91.785	−0.171%	$134K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.440	+0.541%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0512%	1h	91.880	−0.068%	$4K	$768K	10x	as long as short