Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0112%/8h= −12.2% APRpaid last 24h −0.029%

Price spread now: Aster against Nado+0.079%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$320.325% of the position

Long on Nado Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.081%−$8 on $10k

Price spread, last 4 days (all we have)−0.265%−$27 · spread now +0.079%, 7d avg +0.026%

Together, before fees−0.346%+ Points / potential airdropNado: Active · Aster: Stage 5 · farm board−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.053% dearer against Nado than usual: you sell high and buy low (spread +0.079% now, against its 7-day average of +0.026%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 38 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado CRCL-PERP	91.627	0.0198	pay 0.0025% / 1h	40m 06s	$141K	$94K	3x
Short	Aster CRCLUSDT	91.699	0.0086	get 0.0086% / 8h	6h 40m	$1.1M	$4.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Nado. 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 NadobpFee AsterbpOrdersPrice spread, now +0.079%Rate

Funding earned: −$23.45
Price spread: +0.079% → +0.026%: $5.32
Slippage, 4 orders: −$17.46
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$50.59
Costs to cover: 0.325%
Break-even: never at this rate

Slippage from Nado: live order book, 27 min ago; Aster: live order book, 4 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 Nado live order book, 27 min ago	1.60 bp	9.0 bp −$9	29.0 bp −$290	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	2.71 bp	7.8 bp −$8	11.8 bp −$118	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	−0.0162%	8h	91.890	+0.288%	$16.1M	$35.4M	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.650	+0.026%	$912K	$584K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.830	+0.222%	$15.1M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.770	+0.157%	$419K	$301K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.880	+0.277%	$7.2M	$26.3M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	92.081	+0.496%	$63K	$1.1M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	0.0000%	1h	91.710	+0.091%	$4K	$769K	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.850	+0.244%	$1.0M	$49K	10x	as long as short
Variational Omni CRCL	+0.0004%	8h	91.891	+0.288%	$2.5M	$3.2M	—	as long as short
Vest CRCL-USD-PERP	+0.0012%	1h	91.480	−0.160%	—	$37K	25x	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	+0.0027%	1h	92.150	+0.572%	$2K	$22K	5x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.734	+0.117%	$971K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.030	+0.440%	$93K	$272K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.807	+0.197%	$69.3M	$41.9M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.575	−0.056%	$354K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.818	+0.209%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.700	+0.080%	$1.0M	$5.5M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.760	+0.146%	$1.3M	$2.4M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0085%	8h	91.780	+0.167%	$753	$740	5x	as long as short
Binance CRCLUSDT	+0.0085%	8h	91.807	+0.196%	$105.1M	$392.7M	50x	as long as short
Aster CRCLUSDTshort	+0.0086%	8h	91.699	+0.079%	$1.1M	$4.9M	20x
OKX CRCL-USDT-SWAP	+0.0087%	8h	91.840	+0.233%	$21.7M	$60.0M	50x	as long as short
Extended CRCL_24_5-USD	+0.0088%	1h	91.679	+0.057%	$1.1M	$5.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.792	+0.181%	$129K	$154K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.780	+0.167%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.210	+0.637%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.680	+0.058%	$914	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.696	+0.076%	$4	—	10x	as long as short
Nado CRCL-PERPlong	+0.0198%	1h	91.627	long leg	$141K	$94K	3x
Lighter CRCL	+0.0200%	1h	91.920	+0.320%	$3.0M	$2.3M	10x	as long as short
BloFin CRCL-USDT	+0.0222%	8h	92.330	+0.768%	$1.1M	$1.1M	20x	as long as short
Phoenix CRCL	+0.0231%	1h	91.994	+0.401%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	93.910	+2.492%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0628%	4h	92.314	+0.750%	$23K	$267K	10x	as long as short