Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.021%

Price spread now: Aster against tradeXYZ+0.097%7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$360.355% of the position

Long on tradeXYZ Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.080%+$8 on $10k

Price spread, last 7 days−0.034%−$3 · spread now +0.097%, 7d avg +0.065%

Together, before fees+0.046%+ Points / potential airdroptradeXYZ: Active · Aster: Stage 5 · farm board+$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.032% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.097% now, against its 7-day average of +0.065%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.1 days. Mind the row above: over the last 7 days funding on this pair paid +0.080%, 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	tradeXYZ xyz:CRCL	91.501	0.0050	pay 0.0006% / 1h	33m 36s	$68.2M	$41.6M	10x
Short	Aster CRCLUSDT	91.590	0	get 0.0000% / 8h	4h 33m	$1.1M	$5.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against tradeXYZ. 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 tradeXYZbpFee AsterbpOrdersPrice spread, now +0.097%Rate

Funding earned: −$10.5
Price spread: +0.097% → +0.065%: $3.18
Slippage, 4 orders: −$9.52
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Aster: 4 bp × 2 orders: −$8
Net: −$42.84
Costs to cover: 0.355%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 6 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 tradeXYZ live order book, 6 min ago	0.82 bp	10.7 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	1.64 bp	7.5 bp −$8	11.0 bp −$110	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	−0.1035%	8h	91.640	+0.152%	$16.2M	$34.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.260	−0.263%	—	$31K	25x	as long as short
Aster CRCLUSDTshort	0.0000%	8h	91.590	+0.097%	$1.1M	$5.0M	20x
Extended CRCL_24_5-USD	0.0000%	1h	91.537	+0.039%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.575	+0.080%	$104.3M	$388.9M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.610	+0.119%	$14.9M	$26.4M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.580	+0.086%	$416K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.610	+0.119%	$7.2M	$27.1M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.439	−0.068%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.541	+0.043%	$65K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.460	−0.045%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0011%	8h	91.640	+0.152%	$21.9M	$60.8M	50x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.500	−0.001%	$903K	$489K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0028%	1h	91.564	+0.069%	$2K	$24K	5x	as long as short
QFEX CRCL-USD	+0.0028%	1h	91.550	+0.054%	$1.3M	$2.0M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.570	+0.075%	$971K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.530	+0.032%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCLlong	+0.0050%	1h	91.501	long leg	$68.2M	$41.6M	10x
Polymarket Perps CRCL-USD	+0.0050%	1h	91.474	−0.030%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.444	−0.062%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.410	−0.099%	$992K	$5.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0086%	8h	91.538	+0.041%	$421	$905	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.529	+0.031%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.560	+0.064%	$2.7M	$2.0M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.500	−0.001%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.510	+0.010%	$912	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.449	−0.057%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.550	+0.054%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	91.525	+0.026%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0152%	1h	91.574	+0.080%	$2.9M	$2.4M	10x	as long as short
edgeX CRCLUSDC	+0.0281%	4h	91.498	−0.004%	$51K	$276K	10x	as long as short
Nado CRCL-PERP	+0.0290%	1h	91.483	−0.020%	$130K	$104K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0406%	1h	91.460	−0.045%	$4K	$767K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.090	+0.644%	$5K	$19K	30x	as long as short