Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.021%

Price spread now: tradeXYZ against Aster−0.032%7-day average −0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$360.355% of the position

Long on Aster Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.080%−$8 on $10k

Price spread, last 7 days−0.031%−$3 · spread now −0.032%, 7d avg −0.065%

Together, before fees−0.111%+ Points / potential airdropAster: Stage 5 · tradeXYZ: Active · farm board−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and tradeXYZ is 0.034% dearer against Aster than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.065%. Mind the row above: over the last 7 days funding on this pair cost −0.080%, 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	91.524	0	get 0.0000% / 8h	4h 34m	$1.1M	$5.0M	20x
Short	tradeXYZ xyz:CRCL	91.495	0.0050	get 0.0006% / 1h	34m 07s	$68.2M	$41.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.032%Rate

Funding earned: $10.5
Price spread: −0.032% → −0.065%: $3.35
Slippage, 4 orders: −$9.52
Fee Aster: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$21.67
Costs to cover: 0.355%
Break-even: 21.4 days

Slippage from Aster: live order book, 5 min ago; tradeXYZ: 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 Aster live order book, 5 min ago	1.64 bp	6.6 bp −$7	11.9 bp −$119	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 5 min ago	0.82 bp	10.7 bp −$11	doesn't fit	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	−0.1024%	8h	91.600	+0.083%	$16.2M	$35.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.260	−0.289%	—	$31K	25x	as long as short
Aster CRCLUSDTlong	0.0000%	8h	91.524	long leg	$1.1M	$5.0M	20x
Extended CRCL_24_5-USD	0.0000%	1h	91.462	−0.068%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.561	+0.041%	$104.3M	$388.8M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.560	+0.039%	$14.9M	$26.4M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.492	−0.035%	$416K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.570	+0.050%	$7.2M	$27.1M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.439	−0.093%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.729	+0.224%	$65K	$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	91.460	−0.070%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0011%	8h	91.610	+0.094%	$21.9M	$60.8M	50x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.500	−0.026%	$903K	$489K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0028%	1h	91.564	+0.044%	$2K	$24K	5x	as long as short
QFEX CRCL-USD	+0.0028%	1h	91.430	−0.103%	$1.3M	$2.0M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.498	−0.028%	$971K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.550	+0.028%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCLshort	+0.0050%	1h	91.495	−0.032%	$68.2M	$41.6M	10x
Polymarket Perps CRCL-USD	+0.0050%	1h	91.474	−0.055%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.444	−0.087%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.410	−0.125%	$992K	$5.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0086%	8h	91.435	−0.097%	$421	$905	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.450	−0.081%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.490	−0.037%	$2.7M	$2.0M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.640	+0.127%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.510	−0.015%	$912	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.449	−0.082%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.550	+0.028%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	91.525	+0.001%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0152%	1h	91.503	−0.023%	$2.9M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0288%	1h	91.473	−0.056%	$130K	$104K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0406%	1h	91.460	−0.070%	$4K	$767K	10x	as long as short
edgeX CRCLUSDC	+0.0422%	4h	91.677	+0.167%	$51K	$276K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.090	+0.618%	$5K	$19K	30x	as long as short