Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0677%/8h= +74.1% APRpaid last 24h +0.055%

Price spread now: RISEx against Gate−0.026%7-day average +0.015% · 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−$39as in the Price arb table

costs, in and out, $10k−$350.350% of the position

Long on Gate Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.289%+$29 on $10k

Price spread, last 4 days (all we have)+0.023%+$2 · spread now −0.026%, 7d avg +0.015%

Together, before fees+0.313%+$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.040% cheaper against Gate than usual: you would sell low and buy high (spread −0.026% now, against its 7-day average of +0.015%). If the spread goes back, that is −$4 on $10k: about 5 hours of funding at the current rate (+$20 a day). At the pace of the last 3 days (+0.289% in total) that is about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CRCL_USDT	94.480	0	get 0.0000% / 8h	7h 26m	$7.2M	$27.0M	50x
Short	RISEx CRCL/USDC	94.456	0.0677	get 0.0085% / 1h	26m 54s	$431K	$299K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Gate. 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 GatebpFee RISExbpOrdersPrice spread, now −0.026%Rate

Funding earned: $142.14
Price spread: −0.026% → +0.015%: −$4.01
Slippage, 4 orders: −$14
Fee Gate: 7.5 bp × 2 orders: −$15
Fee RISEx: 3 bp × 2 orders: −$6
Net: $103.13
Costs to cover: 0.350%
Break-even: 1.9 days

Slippage from Gate: live order book, 2 min ago; RISEx: live order book, 46 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 Gate live order book, 2 min ago	1.06 bp	12.2 bp −$12	26.4 bp −$264	doesn't fit	doesn't fit
Sell RISEx live order book, 46 min ago	1.06 bp	4.1 bp −$4	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
Coinbase International CRCL-PERP-INTX	−0.0064%	1h	94.210	−0.286%	$942K	$622K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	94.480	0.000%	$15.5M	$25.7M	50x	as long as short
Gate CRCL_USDTlong	0.0000%	8h	94.480	long leg	$7.2M	$27.0M	50x
GRVT CRCL_USDT_Perp	0.0000%	8h	94.462	−0.019%	$68K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.460	−0.021%	$1.0M	$49K	10x	as long as short
Bitget CRCLUSDT	+0.0029%	8h	94.490	+0.011%	$17.0M	$34.6M	25x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.456	−0.025%	$889K	$2.8M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0042%	1h	94.362	−0.125%	$2K	$22K	5x	as long as short
QFEX CRCL-USD	+0.0042%	1h	94.390	−0.095%	$1.4M	$2.6M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.350	−0.138%	—	$37K	25x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CRCL	+0.0050%	1h	94.428	−0.055%	$71.8M	$42.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.445	−0.037%	$366K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.464	−0.017%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.310	−0.180%	$1.0M	$5.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.360	−0.127%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.430	−0.053%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.360	−0.127%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.460	−0.021%	$942	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.483	+0.003%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0105%	8h	94.437	−0.045%	$774	$740	5x	as long as short
Variational Omni CRCL	+0.0127%	8h	94.450	−0.031%	$2.5M	$3.1M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0149%	8h	94.480	0.000%	$22.8M	$59.5M	50x	as long as short
Binance CRCLUSDT	+0.0191%	8h	94.470	−0.011%	$109.4M	$386.1M	50x	as long as short
Extended CRCL_24_5-USD	+0.0192%	1h	94.440	−0.043%	$1.1M	$5.9M	10x	as long as short
Aster CRCLUSDT	+0.0196%	8h	94.457	−0.025%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0230%	1h	94.340	−0.148%	$132K	$76K	3x	as long as short
Phoenix CRCL	+0.0296%	1h	94.429	−0.054%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0304%	1h	94.471	−0.010%	$3.1M	$2.2M	10x	as long as short
BloFin CRCL-USDT	+0.0311%	8h	94.510	+0.032%	$1.1M	$561K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.890	+0.434%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.380	−0.106%	$96K	$273K	10x	as long as short
RISEx CRCL/USDCshort	+0.0677%	1h	94.456	−0.026%	$431K	$299K	10x
Deribit CRCL_USDC-PERPETUAL	+0.0810%	1h	94.460	−0.021%	$4K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0948%	4h	94.390	−0.095%	$24K	$269K	10x	as long as short