Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0809%/8h= +88.6% APRpaid last 24h +0.028%

Price spread now: RISEx against Bitget−0.038%7-day average +0.001% · 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−$32as in the Price arb table

costs, in and out, $10k−$280.278% of the position

Long on Bitget Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.266%+$27 on $10k

Price spread, last 4 days (all we have)+0.090%+$9 · spread now −0.038%, 7d avg +0.001%

Together, before fees+0.357%+$36 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.039% cheaper against Bitget than usual: you would sell low and buy high (spread −0.038% now, against its 7-day average of +0.001%). If the spread goes back, that is −$4 on $10k: about 4 hours of funding at the current rate (+$24 a day). At the pace of the last 4 days (+0.266% in total) that is about 13 hours.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.266% in total (about 27.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CRCLUSDT	92.160	−0.0702	get 0.0702% / 8h	3h 48m	$16.8M	$35.5M	25x
Short	RISEx CRCL/USDC	92.125	0.0107	get 0.0013% / 1h	48m 24s	$419K	$299K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Bitget. 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 BitgetbpFee RISExbpOrdersPrice spread, now −0.038%Rate

Funding earned: $169.93
Price spread: −0.038% → +0.001%: −$3.86
Slippage, 4 orders: −$9.79
Fee Bitget: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: $138.29
Costs to cover: 0.278%
Break-even: 1.3 days

Slippage from Bitget: live order book, 6 min ago; RISEx: 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 Bitget live order book, 6 min ago	1.63 bp	9.5 bp −$10	15.6 bp −$156	38.0 bp −$3,800	doesn't fit
Sell RISEx live order book, 5 min ago	1.63 bp	4.6 bp −$5	5.2 bp −$52	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 CRCLUSDTlong	−0.0702%	8h	92.160	long leg	$16.8M	$35.5M	25x
Vest CRCL-USD-PERP	−0.0068%	1h	91.860	−0.326%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.090	−0.076%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.200	+0.043%	$7.3M	$27.2M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.019	−0.153%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.050	−0.119%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0010%	8h	92.066	−0.102%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0014%	8h	92.090	−0.076%	$104.9M	$390.8M	50x	as long as short
Extended CRCL_24_5-USD	+0.0016%	1h	92.065	−0.103%	$1.1M	$5.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	92.079	−0.088%	$2K	$25K	5x	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	92.020	−0.152%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.910	−0.271%	$907K	$491K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.988	−0.187%	$68.4M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.093	−0.073%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.044	−0.126%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.940	−0.239%	$1.0M	$5.2M	10x	as long as short
BloFin CRCL-USDT	+0.0056%	8h	92.040	−0.130%	$1.1M	$1.3M	20x	as long as short
QFEX CRCL-USD	+0.0060%	1h	92.120	−0.043%	$1.3M	$1.9M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0064%	8h	92.190	+0.033%	$64K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0069%	8h	92.120	−0.043%	$22.3M	$61.7M	50x	as long as short
Lighter RH CRCL	+0.0080%	1h	92.017	−0.155%	$975K	$2.9M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.073	−0.094%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.090	−0.076%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.120	−0.043%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.060	−0.109%	$918	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.058	−0.111%	$4	—	10x	as long as short
RISEx CRCL/USDCshort	+0.0107%	1h	92.125	−0.038%	$419K	$299K	10x
Paradex CRCL-USD-PERP	+0.0132%	8h	92.111	−0.053%	$424	$905	5x	as long as short
Phoenix CRCL	+0.0182%	1h	92.079	−0.088%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0304%	1h	92.020	−0.152%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0387%	1h	92.043	−0.127%	$134K	$106K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.460	+0.326%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0488%	4h	92.164	+0.004%	$51K	$276K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0946%	1h	92.080	−0.087%	$4K	$768K	10x	as long as short