Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0069%/8h= +7.6% APRpaid last 24h +0.022%

Price spread now: Aster against Coinbase International+0.048%7-day average +0.053% · 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−$39as in the Price arb table

costs, in and out, $10k−$380.383% of the position

Long on Coinbase International Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 3 days (all we have)−0.060%−$6 · spread now +0.048%, 7d avg +0.053%

Together, before fees−0.096%+ Points / potential airdropAster: Stage 5 · farm board−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.053%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International CRCL-PERP-INTX	91.700	−0.0008	get 0.0001% / 1h	18m 57s	$913K	$580K	10x
Short	Aster CRCLUSDT	91.744	0.0061	get 0.0061% / 8h	6h 18m	$1.1M	$4.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Coinbase International. 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 Coinbase InternationalbpFee AsterbpOrdersPrice spread, now +0.048%Rate

Funding earned: $14.49
Price spread: +0.048% → +0.053%: −$0.52
Slippage, 4 orders: −$20.29
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$24.32
Costs to cover: 0.383%
Break-even: 18.7 days

Slippage from Coinbase International: live order book, 49 min ago; Aster: 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 Coinbase International live order book, 49 min ago	1.06 bp	6.1 bp −$6	10.6 bp −$106	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	1.63 bp	7.8 bp −$8	12.2 bp −$122	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	91.860	+0.174%	$15.9M	$35.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0035%	1h	91.530	−0.185%	—	$40K	25x	as long as short
Coinbase International CRCL-PERP-INTXlong	−0.0008%	1h	91.700	long leg	$913K	$580K	10x
Bybit CRCLUSDT	0.0000%	8h	91.830	+0.142%	$15.0M	$25.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.713	+0.015%	$419K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.800	+0.109%	$7.1M	$26.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.938	+0.260%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.906	+0.224%	$63K	$1.1M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	0.0000%	1h	91.710	+0.011%	$4K	$769K	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.840	+0.153%	$1.0M	$49K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0024%	1h	91.893	+0.210%	$2K	$23K	5x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.760	+0.065%	$976K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.820	+0.131%	$93K	$273K	10x	as long as short
Extended CRCL_24_5-USD	+0.0048%	1h	91.739	+0.043%	$1.1M	$5.7M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.717	+0.019%	$68.9M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.682	−0.020%	$355K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.707	+0.008%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.770	+0.076%	$999K	$5.5M	10x	as long as short
Binance CRCLUSDT	+0.0052%	8h	91.807	+0.117%	$104.7M	$393.8M	50x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.710	+0.011%	$1.3M	$2.3M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0059%	8h	91.890	+0.207%	$21.7M	$60.3M	50x	as long as short
Aster CRCLUSDTshort	+0.0061%	8h	91.744	+0.048%	$1.1M	$4.9M	20x
Paradex CRCL-USD-PERP	+0.0074%	8h	91.724	+0.026%	$752	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.720	+0.021%	$132K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.820	+0.131%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.820	+0.131%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.710	+0.011%	$914	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.710	+0.011%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0153%	1h	91.744	+0.048%	$130K	$103K	3x	as long as short
Lighter CRCL	+0.0200%	1h	91.767	+0.073%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	91.850	+0.164%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.500	+0.872%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0811%	4h	91.882	+0.199%	$23K	$267K	10x	as long as short