Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1003%/8h= −109.8% APRpaid last 24h −0.032%

Price spread now: Bitget against RISEx+0.029%7-day average −0.001% · 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−$24as in the Price arb table

costs, in and out, $10k−$270.269% of the position

Long on RISEx Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.266%−$27 on $10k

Price spread, last 4 days (all we have)−0.058%−$6 · spread now +0.029%, 7d avg −0.001%

Together, before fees−0.324%−$32 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.030% dearer against RISEx than usual: you sell high and buy low (spread +0.029% now, against its 7-day average of −0.001%): +$3 on $10k if it goes back. Holding the pair costs −$30 a day in funding at the current rate, which eats that in about 2 hours. At the pace of the last 4 days (−0.266% in total) that is about 10 hours.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.266% in total (about -27.2% a year). A funding rate is set anew for every payment. 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	RISEx CRCL/USDC	91.873	0	get 0.0000% / 1h	20m 17s	$417K	$299K	10x
Short	Bitget CRCLUSDT	91.900	−0.1003	pay 0.1003% / 8h	4h 20m	$16.4M	$35.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against RISEx. 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 RISExbpFee BitgetbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$210.63
Price spread: +0.029% → −0.001%: $3.01
Slippage, 4 orders: −$8.91
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$234.53
Costs to cover: 0.269%
Break-even: never at this rate

Slippage from RISEx: live order book, 38 min ago; Bitget: live order book, 4 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 RISEx live order book, 38 min ago	1.09 bp	4.1 bp −$4	6.0 bp −$60	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	1.09 bp	9.2 bp −$9	13.0 bp −$130	57.3 bp −$5,728	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 CRCLUSDTshort	−0.1003%	8h	91.900	+0.029%	$16.4M	$35.0M	25x
Vest CRCL-USD-PERP	−0.0068%	1h	91.610	−0.286%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.881	+0.008%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.846	−0.030%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.860	−0.014%	$104.6M	$389.6M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.870	−0.003%	$14.9M	$26.4M	50x	as long as short
RISEx CRCL/USDClong	0.0000%	1h	91.873	long leg	$417K	$299K	10x
Gate CRCL_USDT	0.0000%	8h	91.910	+0.040%	$7.2M	$27.2M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.828	−0.049%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.950	+0.084%	$65K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.860	−0.014%	$1.0M	$49K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.790	−0.090%	$906K	$490K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0023%	8h	91.860	−0.014%	$22.1M	$61.1M	50x	as long as short
QFEX CRCL-USD	+0.0028%	1h	91.890	+0.018%	$1.3M	$2.0M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.886	+0.014%	$974K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0034%	1h	91.806	−0.073%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.800	−0.080%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.784	−0.097%	$68.4M	$41.6M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.834	−0.043%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.860	−0.014%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.820	−0.058%	$1.0M	$5.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0100%	8h	91.831	−0.046%	$422	$905	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.860	−0.014%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.820	−0.058%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.730	−0.156%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.840	−0.036%	$916	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.850	−0.025%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.860	−0.014%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	91.832	−0.045%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0184%	1h	91.884	+0.012%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0302%	1h	91.714	−0.173%	$130K	$104K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.400	+0.573%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0735%	4h	91.815	−0.063%	$51K	$276K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.1057%	1h	91.900	+0.029%	$4K	$767K	10x	as long as short