Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0022%/8h= +2.4% APRpaid last 24h −0.008%

Price spread now: RISEx against BloFin+0.046%7-day average +0.036% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$290.290% of the position

Long on BloFin Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.141%+$14 on $10k

Price spread, last 4 days (all we have)+0.006%+$1 · spread now +0.046%, 7d avg +0.036%

Together, before fees+0.147%+$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.036%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin CRCL-USDT	90.820	0.0096	pay 0.0096% / 8h	2h 26m	$1.1M	$1.6M	20x
Short	RISEx CRCL/USDC	90.861	0.0117	get 0.0015% / 1h	26m 00s	$414K	$294K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against BloFin. 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 BloFinbpFee RISExbpOrdersPrice spread, now +0.046%Rate

Funding earned: $4.52
Price spread: +0.046% → +0.036%: $0.94
Slippage, 4 orders: −$11.01
Fee BloFin: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$23.55
Costs to cover: 0.290%
Break-even: 43.5 days

Slippage from BloFin: live order book, 2 min ago; RISEx: live order book, 22 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 BloFin live order book, 2 min ago	1.65 bp	11.0 bp −$11	13.6 bp −$136	41.4 bp −$4,136	doesn't fit
Sell RISEx live order book, 22 min ago	2.18 bp	5.2 bp −$5	6.3 bp −$63	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	−0.0951%	8h	90.950	+0.143%	$16.6M	$36.4M	25x	as long as short
Vest CRCL-USD-PERP	−0.0073%	1h	90.590	−0.253%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	90.830	+0.011%	$14.5M	$26.8M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	90.940	+0.132%	$7.5M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	90.870	+0.055%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	90.870	+0.055%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0011%	8h	90.863	+0.047%	$1.0M	$5.1M	20x	as long as short
Binance CRCLUSDT	+0.0023%	8h	90.865	+0.050%	$103.3M	$395.7M	50x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	90.822	+0.002%	$1.0M	$5.7M	10x	as long as short
edgeX CRCLUSDC	+0.0027%	4h	91.211	+0.430%	$52K	$278K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	90.910	+0.099%	$970K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	90.950	+0.143%	$92K	$291K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	91.016	+0.216%	$2K	$26K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	90.812	−0.009%	$67.9M	$43.5M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	90.864	+0.048%	$381K	$1.3M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	90.802	−0.020%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	90.770	−0.055%	$999K	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	90.880	+0.066%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	90.670	−0.165%	$883K	$586K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0089%	8h	90.838	+0.019%	$418	$905	5x	as long as short
BloFin CRCL-USDTlong	+0.0096%	8h	90.820	long leg	$1.1M	$1.6M	20x
Pacifica CRCL	+0.0100%	1h	90.833	+0.014%	$133K	$161K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	90.860	+0.044%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.130	+0.341%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	90.860	+0.044%	$906	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	90.870	+0.055%	$4	—	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0105%	8h	91.230	+0.451%	$62K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0111%	8h	90.870	+0.055%	$21.9M	$61.8M	50x	as long as short
RISEx CRCL/USDCshort	+0.0117%	1h	90.861	+0.046%	$414K	$294K	10x
Deribit CRCL_USDC-PERPETUAL	+0.0190%	1h	90.880	+0.066%	$4K	$768K	10x	as long as short
Lighter CRCL	+0.0208%	1h	90.907	+0.096%	$2.9M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0210%	1h	91.148	+0.361%	$27K	$82K	10x	as long as short
Nado CRCL-PERP	+0.0302%	1h	90.845	+0.028%	$132K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.650	+0.914%	$5K	$19K	30x	as long as short