Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0087%/8h= −9.6% APRpaid last 24h +0.018%

Price spread now: Aster against Pacifica+0.002%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$740.742% of the position

Long on Pacifica Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.065%+$6 on $10k

Price spread, last 4 days (all we have)+0.036%+$4 · spread now +0.002%, 7d avg +0.028%

Together, before fees+0.101%+ Points / potential airdropPacifica: Active · Aster: Stage 5 · farm board+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Aster is 0.026% cheaper against Pacifica than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.028%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.065%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica CRCL	90.970	0.0100	pay 0.0013% / 1h	28m 17s	$133K	$161K	10x
Short	Aster CRCLUSDT	90.972	0.0013	get 0.0013% / 8h	2h 28m	$1.0M	$5.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Pacifica. 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 PacificabpFee AsterbpOrdersPrice spread, now +0.002%Rate

Funding earned: −$18.32
Price spread: +0.002% → +0.028%: −$2.57
Slippage, 4 orders: −$58.24
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$95.13
Costs to cover: 0.742%
Break-even: never at this rate

Slippage from Pacifica: live order book, 1 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 Pacifica live order book, 1 min ago	18.69 bp	30.6 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	2.19 bp	6.8 bp −$7	14.0 bp −$140	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	−0.0907%	8h	90.980	+0.011%	$16.7M	$36.4M	25x	as long as short
Vest CRCL-USD-PERP	−0.0072%	1h	90.700	−0.297%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	90.920	−0.055%	$14.5M	$26.9M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	90.960	−0.011%	$7.5M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.161	+0.210%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	90.960	−0.011%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDTshort	+0.0013%	8h	90.972	+0.002%	$1.0M	$5.1M	20x
Extended CRCL_24_5-USD	+0.0024%	1h	90.885	−0.094%	$1.0M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0026%	8h	90.910	−0.066%	$103.3M	$395.6M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	90.915	−0.060%	$969K	$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
Arcus CRCL-USD	+0.0040%	1h	91.140	+0.187%	$93K	$291K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	91.138	+0.185%	$2K	$26K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	90.860	−0.121%	$67.9M	$43.4M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	90.890	−0.088%	$381K	$1.3M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	90.910	−0.066%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	90.840	−0.143%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	90.890	−0.088%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	90.790	−0.198%	$909K	$527K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0080%	1h	90.910	−0.066%	$4K	$768K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0091%	8h	90.910	−0.066%	$418	$905	5x	as long as short
BloFin CRCL-USDT	+0.0100%	8h	91.250	+0.308%	$1.1M	$1.6M	20x	as long as short
Pacifica CRCLlong	+0.0100%	1h	90.970	long leg	$133K	$161K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	90.940	−0.033%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.170	+0.220%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	90.910	−0.066%	$906	$2K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0101%	8h	91.190	+0.242%	$62K	$1.1M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	90.901	−0.076%	$4	—	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0111%	8h	90.920	−0.055%	$22.0M	$61.8M	50x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	90.900	−0.077%	$414K	$294K	10x	as long as short
Phoenix CRCL	+0.0210%	1h	91.148	+0.196%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0216%	1h	90.930	−0.044%	$2.9M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0308%	1h	90.919	−0.057%	$132K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.040	+1.176%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0917%	4h	91.164	+0.213%	$52K	$278K	10x	as long as short