As an alternative, what satire is doing the rounds? (8)
I believe the answer is:
orbiting
'doing the rounds?' is the definition.
(to orbit is to go around something)
'as an alternative what satire is' is the wordplay.
'as an alternative' becomes 'or' ('or' introduces an alternative).
'what satire is' becomes 'biting' (satire might be biting).
'or'+'biting'='ORBITING'
(Other definitions for orbiting that I've seen before include "Moving around a body in space" , "Revolving around another object" , "Going around in circles - is It boring?" , "as the moon is?" , "Travelling around" .)