Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0235%/8h= +25.8% APRpaid last 24h +0.041%

Price spread now: RISEx against GRVT−0.041%55s7-day average −0.010% · 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—prices read too far apart to compare

costs, in and out, $10k−$220.225% of the position

Long on GRVT Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.321%+$32 on $10k

Price spread, last 4 days (all we have)+0.097%+$10 · spread now −0.041%, 7d avg −0.010%

Together, before fees+0.418%+ Points / potential airdropGRVT: Active · farm board+$42 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.031% cheaper against GRVT than usual: you would sell low and buy high (spread −0.041% now, against its 7-day average of −0.010%). If the spread goes back, that is −$3 on $10k: about 11 hours of funding at the current rate (+$7 a day). The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT CRCL_USDT_Perp	91.548	0.0231	pay 0.0231% / 8h	49m 46s	$69K	$1.1M	10x
Short	RISEx CRCL/USDC	91.510	0.0466	get 0.0058% / 1h	49m 46s	$410K	$270K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against GRVT. 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 GRVTbpFee RISExbpOrdersPrice spread, now −0.041%Rate

Funding earned: $49.4
Price spread: −0.041% → −0.010%: −$3.15
Slippage, 4 orders: −$7.49
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee RISEx: 3 bp × 2 orders: −$6
Net: $23.77
Costs to cover: 0.225%
Break-even: 3.6 days

Slippage from GRVT: live order book, 3 min ago; RISEx: live order book, 54 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 GRVT live order book, 3 min ago	1.09 bp	6.0 bp −$6	17.2 bp −$172	doesn't fit	doesn't fit
Sell RISEx live order book, 54 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	−0.0342%	8h	91.630	+0.090%	$17.6M	$37.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0080%	1h	91.210	−0.369%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.600	+0.057%	$7.8M	$27.3M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.530	−0.019%	$1.0M	$48K	10x	as long as short
Bybit CRCLUSDT	+0.0018%	8h	91.600	+0.057%	$14.8M	$26.6M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.609	+0.067%	$979K	$2.6M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.500	−0.052%	$97K	$293K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	91.464	−0.092%	$2K	$28K	5x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.516	−0.034%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.370	−0.194%	$1.1M	$5.0M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.470	−0.085%	$1.3M	$1.8M	10x	as long as short
Variational Omni CRCL	+0.0072%	8h	91.477	−0.077%	$2.4M	$3.3M	—	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.400	−0.161%	$890K	$415K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.473	−0.081%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.600	+0.057%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.420	−0.139%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.510	−0.041%	$912	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.532	−0.017%	$4	—	10x	as long as short
tradeXYZ xyz:CRCL	+0.0147%	1h	91.566	+0.020%	$67.8M	$43.8M	10x	as long as short
Aster CRCLUSDT	+0.0151%	8h	91.658	+0.121%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0166%	8h	91.610	+0.068%	$105.2M	$394.9M	50x	as long as short
Extended CRCL_24_5-USD	+0.0168%	1h	91.555	+0.008%	$1.0M	$5.0M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0179%	8h	91.476	−0.078%	$421	$905	5x	as long as short
Polymarket Perps CRCL-USD	+0.0206%	1h	91.500	−0.052%	$379K	$1.3M	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.459	−0.097%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perplong	+0.0231%	8h	91.548	long leg	$69K	$1.1M	10x
Lighter CRCL	+0.0240%	1h	91.609	+0.067%	$2.9M	$2.3M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0250%	8h	91.600	+0.057%	$22.3M	$62.1M	50x	as long as short
BloFin CRCL-USDT	+0.0284%	8h	91.520	−0.030%	$1.1M	$1.7M	20x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0297%	1h	91.510	−0.041%	$5K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0368%	4h	91.496	−0.057%	$52K	$277K	10x	as long as short
Nado CRCL-PERP	+0.0419%	1h	91.424	−0.135%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.990	+0.483%	$5K	$19K	30x	as long as short
RISEx CRCL/USDCshort	+0.0466%	1h	91.510	−0.041%	$410K	$270K	10x