Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0271%/8h= +29.7% APRpaid last 24h +0.040%

Price spread now: RISEx against Bybit−0.056%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−$35as in the Price arb table

costs, in and out, $10k−$300.298% of the position

Long on Bybit Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.245%+$25 on $10k

Price spread, last 4 days (all we have)−0.079%−$8 · spread now −0.056%, 7d avg +0.001%

Together, before fees+0.166%+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.056% cheaper against Bybit than usual: you would sell low and buy high (spread −0.056% now, against its 7-day average of +0.001%). If the spread goes back, that is −$6 on $10k: about 17 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CRCLUSDT	91.800	0	get 0.0000% / 8h	1h 18m	$14.7M	$26.7M	50x
Short	RISEx CRCL/USDC	91.749	0.0271	get 0.0034% / 1h	18m 11s	$418K	$268K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Bybit. 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 BybitbpFee RISExbpOrdersPrice spread, now −0.056%Rate

Funding earned: $56.94
Price spread: −0.056% → +0.001%: −$5.62
Slippage, 4 orders: −$12.81
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee RISEx: 3 bp × 2 orders: −$6
Net: $21.51
Costs to cover: 0.298%
Break-even: 4.4 days

Slippage from Bybit: live order book, 5 min ago; RISEx: live order book, 25 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 Bybit live order book, 5 min ago	1.64 bp	10.4 bp −$10	17.1 bp −$171	doesn't fit	doesn't fit
Sell RISEx live order book, 25 min ago	1.64 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 CRCLUSDT	−0.0557%	8h	91.860	+0.065%	$17.6M	$37.1M	25x	as long as short
Vest CRCL-USD-PERP	−0.0083%	1h	91.520	−0.305%	—	$31K	25x	as long as short
Bybit CRCLUSDTlong	0.0000%	8h	91.800	long leg	$14.7M	$26.7M	50x
Gate CRCL_USDT	0.0000%	8h	91.810	+0.011%	$7.8M	$27.5M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.790	−0.011%	$1.0M	$48K	10x	as long as short
Variational Omni CRCL	+0.0013%	8h	91.789	−0.012%	$2.4M	$3.2M	—	as long as short
Lighter RH CRCL	+0.0032%	1h	91.715	−0.093%	$980K	$2.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	91.658	−0.155%	$2K	$28K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.700	−0.109%	$94K	$292K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.804	+0.004%	$46K	$3K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.690	−0.120%	$1.1M	$5.3M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0056%	1h	91.790	−0.011%	$894K	$616K	10x	as long as short
QFEX CRCL-USD	+0.0068%	1h	91.770	−0.033%	$1.3M	$1.8M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0092%	1h	91.739	−0.066%	$67.9M	$44.4M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.750	−0.054%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.670	−0.142%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.710	−0.098%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.760	−0.044%	$915	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.764	−0.039%	$4	—	10x	as long as short
Aster CRCLUSDT	+0.0106%	8h	91.760	−0.044%	$1.0M	$5.1M	20x	as long as short
Binance CRCLUSDT	+0.0119%	8h	91.818	+0.020%	$104.9M	$398.1M	50x	as long as short
Extended CRCL_24_5-USD	+0.0120%	1h	91.767	−0.036%	$1.0M	$5.0M	10x	as long as short
edgeX CRCLUSDC	+0.0127%	4h	91.661	−0.152%	$52K	$277K	10x	as long as short
Polymarket Perps CRCL-USD	+0.0136%	1h	91.769	−0.034%	$384K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0164%	8h	91.734	−0.072%	$422	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0193%	8h	91.680	−0.131%	$64K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0215%	8h	91.860	+0.065%	$22.3M	$62.9M	50x	as long as short
BloFin CRCL-USDT	+0.0239%	8h	91.810	+0.011%	$1.1M	$1.7M	20x	as long as short
Phoenix CRCL	+0.0245%	1h	91.610	−0.207%	$27K	$82K	10x	as long as short
RISEx CRCL/USDCshort	+0.0271%	1h	91.749	−0.056%	$418K	$268K	10x
Lighter CRCL	+0.0280%	1h	91.712	−0.096%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0404%	1h	91.602	−0.215%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.220	+0.458%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.1497%	1h	91.750	−0.054%	$5K	$769K	10x	as long as short