Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0189%/8h= −20.7% APRpaid last 24h −0.026%

Price spread now: Aster against RISEx−0.047%7-day average −0.014% · you buy dearer than you sell

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

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

costs, in and out, $10k−$280.280% of the position

Long on RISEx Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.249%−$25 on $10k

Price spread, last 4 days (all we have)+0.149%+$15 · spread now −0.047%, 7d avg −0.014%

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

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Aster is 0.033% cheaper against RISEx than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.014%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx CRCL/USDC	91.365	0.0271	pay 0.0034% / 1h	40m 09s	$416K	$268K	10x
Short	Aster CRCLUSDT	91.322	0.0082	get 0.0082% / 8h	1h 40m	$1.0M	$5.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against RISEx. 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 RISExbpFee AsterbpOrdersPrice spread, now −0.047%Rate

Funding earned: −$39.7
Price spread: −0.047% → −0.014%: −$3.34
Slippage, 4 orders: −$14.01
Fee RISEx: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: −$71.05
Costs to cover: 0.280%
Break-even: never at this rate

Slippage from RISEx: live order book, 3 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 RISEx live order book, 3 min ago	1.64 bp	4.6 bp −$5	7.1 bp −$71	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	2.19 bp	8.6 bp −$9	11.2 bp −$112	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	−0.0719%	8h	91.390	+0.027%	$17.4M	$37.1M	25x	as long as short
Vest CRCL-USD-PERP	−0.0086%	1h	91.060	−0.334%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.270	−0.104%	$14.6M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.380	+0.016%	$7.8M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.349	−0.017%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.280	−0.093%	$1.0M	$48K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	91.280	−0.093%	$2K	$27K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.320	−0.049%	$93K	$289K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.243	−0.134%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.310	−0.060%	$1.1M	$5.2M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International CRCL-PERP-INTX	+0.0056%	1h	91.300	−0.071%	$889K	$604K	10x	as long as short
QFEX CRCL-USD	+0.0068%	1h	91.340	−0.027%	$1.3M	$1.8M	10x	as long as short
Lighter RH CRCL	+0.0080%	1h	91.286	−0.086%	$975K	$2.7M	10x	as long as short
Aster CRCLUSDTshort	+0.0082%	8h	91.322	−0.047%	$1.0M	$5.1M	20x
Binance CRCLUSDT	+0.0095%	8h	91.270	−0.104%	$104.4M	$397.6M	50x	as long as short
Extended CRCL_24_5-USD	+0.0096%	1h	91.260	−0.115%	$1.0M	$5.2M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.310	−0.060%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.280	−0.093%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.350	−0.016%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.270	−0.104%	$910	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.263	−0.111%	$4	—	10x	as long as short
tradeXYZ xyz:CRCL	+0.0111%	1h	91.224	−0.154%	$67.6M	$44.4M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0150%	1h	91.293	−0.079%	$382K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0168%	8h	91.331	−0.037%	$420	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0187%	8h	91.384	+0.021%	$67K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0190%	8h	91.290	−0.082%	$22.2M	$62.6M	50x	as long as short
BloFin CRCL-USDT	+0.0213%	8h	91.390	+0.027%	$1.1M	$1.7M	20x	as long as short
Phoenix CRCL	+0.0245%	1h	91.381	+0.018%	$27K	$82K	10x	as long as short
RISEx CRCL/USDClong	+0.0271%	1h	91.365	long leg	$416K	$268K	10x
Lighter CRCL	+0.0296%	1h	91.292	−0.080%	$2.9M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0433%	1h	91.250	−0.126%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.810	+0.487%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0627%	1h	91.290	−0.082%	$5K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0765%	4h	91.348	−0.019%	$52K	$278K	10x	as long as short