Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0013%/8h= +1.4% APRpaid last 24h −0.010%

Price spread now: Aster against Extended+0.023%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$290.288% of the position

Long on Extended Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$3 on $10k

Price spread, last 4 days (all we have)+0.043%+$4 · spread now +0.023%, 7d avg +0.043%

Together, before fees+0.018%+ Points / potential airdropExtended: Active · Aster: Stage 5 · farm board+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.043%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended CRCL_24_5-USD	91.693	0.0048	pay 0.0006% / 1h	19m 02s	$1.1M	$5.7M	10x
Short	Aster CRCLUSDT	91.715	0.0061	get 0.0061% / 8h	6h 19m	$1.1M	$4.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Extended. 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 ExtendedbpFee AsterbpOrdersPrice spread, now +0.023%Rate

Funding earned: $2.73
Price spread: +0.023% → +0.043%: −$1.91
Slippage, 4 orders: −$15.82
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$28
Costs to cover: 0.288%
Break-even: 78.8 days

Slippage from Extended: live order book, 5 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 Extended live order book, 5 min ago	0.05 bp	5.0 bp −$5	29.9 bp −$299	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	91.850	+0.171%	$15.9M	$35.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0035%	1h	91.530	−0.178%	—	$40K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.700	+0.008%	$913K	$580K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.790	+0.106%	$15.0M	$25.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.713	+0.022%	$419K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.780	+0.095%	$7.1M	$26.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.938	+0.267%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.906	+0.232%	$63K	$1.1M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	0.0000%	1h	91.710	+0.018%	$4K	$769K	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.840	+0.160%	$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	+0.218%	$2K	$23K	5x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.760	+0.073%	$976K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.820	+0.138%	$93K	$273K	10x	as long as short
Extended CRCL_24_5-USDlong	+0.0048%	1h	91.693	long leg	$1.1M	$5.7M	10x
tradeXYZ xyz:CRCL	+0.0050%	1h	91.717	+0.026%	$68.9M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.682	−0.012%	$355K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.707	+0.015%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.770	+0.084%	$999K	$5.5M	10x	as long as short
Binance CRCLUSDT	+0.0052%	8h	91.758	+0.071%	$104.7M	$393.8M	50x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.710	+0.018%	$1.3M	$2.3M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0059%	8h	91.820	+0.138%	$21.7M	$60.2M	50x	as long as short
Aster CRCLUSDTshort	+0.0061%	8h	91.715	+0.023%	$1.1M	$4.9M	20x
Paradex CRCL-USD-PERP	+0.0074%	8h	91.724	+0.033%	$752	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.720	+0.029%	$132K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.780	+0.095%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.820	+0.138%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.710	+0.018%	$914	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.710	+0.018%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0153%	1h	91.744	+0.055%	$130K	$103K	3x	as long as short
Lighter CRCL	+0.0200%	1h	91.767	+0.081%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	91.850	+0.171%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.500	+0.880%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0811%	4h	91.882	+0.206%	$23K	$267K	10x	as long as short