CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0502%/8h= +55.0% APRnext payment +$0.63 per $10,000 · paid last 24h +0.091%

Price spread now: RISEx against Coinbase International+0.180%7-day average +0.071% · 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−$17as in the Price arb table

costs, in and out, $10k−$280.282% of the position

Long on Coinbase International Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.166%+$17 on $10k

Price spread, last 3 days (all we have)−0.144%−$14 · spread now +0.180%, 7d avg +0.071%

Together, before fees+0.022%+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and RISEx is 0.109% dearer against Coinbase International than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.071%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.166% in total (about 17.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.63 per $10,000. 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	Coinbase International CRCL-PERP-INTX	94.690	0.0032	pay 0.0004% / 1h	43m 33s	$942K	$724K	10x
Short	RISEx CRCL/USDC	94.860	0.0534	get 0.0067% / 1h	43m 33s	$433K	$312K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Coinbase International. 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 Coinbase InternationalbpFee RISExbpOrdersPrice spread, now +0.180%Rate

Funding earned: $105.44
Price spread: +0.180% → +0.071%: $10.86
Slippage, 4 orders: −$12.17
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: $88.13
Costs to cover: 0.282%
Break-even: 1.1 days

Slippage from Coinbase International: live order book, 35 min ago; RISEx: live order book, 35 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 Coinbase International live order book, 35 min ago	4.24 bp	9.7 bp −$10	15.7 bp −$157	doesn't fit	doesn't fit
Sell RISEx live order book, 35 min ago	1.59 bp	4.6 bp −$5	5.6 bp −$56	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
Gate CRCL_USDT	0.0000%	8h	94.900	+0.222%	$7.3M	$27.5M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.780	+0.095%	$1.0M	$52K	10x	as long as short
QFEX CRCL-USD	+0.0022%	1h	94.840	+0.158%	$1.4M	$2.7M	10x	as long as short
Coinbase International CRCL-PERP-INTXlong	+0.0032%	1h	94.690	long leg	$942K	$724K	10x
Vest CRCL-USD-PERP	+0.0046%	1h	94.770	+0.084%	—	$45K	25x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.864	+0.184%	$48K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.730	+0.042%	$1.1M	$5.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0052%	1h	94.627	−0.066%	$2K	$21K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0071%	1h	94.781	+0.096%	$367K	$1.1M	10x	as long as short
Lighter RH CRCL	+0.0088%	1h	94.926	+0.249%	$895K	$2.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica CRCL	+0.0100%	1h	94.900	+0.222%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.770	+0.084%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.720	+0.032%	$70K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.830	+0.148%	$945	$3K	10x	as long as short
Bybit CRCLUSDT	+0.0104%	8h	94.850	+0.169%	$15.6M	$25.9M	50x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.923	+0.246%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0122%	8h	94.663	−0.028%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0136%	8h	94.871	+0.191%	$778	$740	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0165%	8h	94.850	+0.169%	$62K	$1.1M	10x	as long as short
Extended CRCL_24_5-USD	+0.0184%	1h	94.843	+0.162%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0186%	8h	94.840	+0.158%	$109.7M	$389.6M	50x	as long as short
Aster CRCLUSDT	+0.0199%	8h	94.800	+0.116%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0206%	8h	94.850	+0.169%	$22.9M	$60.8M	50x	as long as short
edgeX CRCLUSDC	+0.0223%	4h	94.814	+0.131%	$24K	$269K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0284%	1h	94.871	+0.191%	$71.3M	$42.8M	10x	as long as short
Phoenix CRCL	+0.0288%	1h	94.878	+0.199%	$28K	$92K	10x	as long as short
BloFin CRCL-USDT	+0.0296%	8h	94.830	+0.148%	$1.1M	$595K	20x	as long as short
Nado CRCL-PERP	+0.0310%	1h	94.807	+0.123%	$127K	$73K	3x	as long as short
Bitget CRCLUSDT	+0.0317%	8h	94.850	+0.169%	$17.0M	$35.4M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	95.260	+0.602%	$5K	$19K	30x	as long as short
Lighter CRCL	+0.0456%	1h	94.937	+0.261%	$3.1M	$2.2M	10x	as long as short
Arcus CRCL-USD	+0.0533%	1h	94.840	+0.158%	$97K	$275K	10x	as long as short
RISEx CRCL/USDCshort	+0.0534%	1h	94.860	+0.180%	$433K	$312K	10x
Deribit CRCL_USDC-PERPETUAL	+0.0910%	1h	94.920	+0.243%	$4K	$772K	10x	as long as short