Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h −0.008%

Price spread now: BloFin against RISEx+0.023%7-day average −0.028% · 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−$22as in the Price arb table

costs, in and out, $10k−$270.271% of the position

Long on RISEx Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.140%−$14 on $10k

Price spread, last 4 days (all we have)−0.186%−$19 · spread now +0.023%, 7d avg −0.028%

Together, before fees−0.326%−$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and BloFin is 0.051% dearer against RISEx than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.028%. Mind the row above: over the last 4 days funding on this pair cost −0.140%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx CRCL/USDC	91.589	0	get 0.0000% / 1h	26m 26s	$418K	$298K	10x
Short	BloFin CRCL-USDT	91.610	0.0120	get 0.0120% / 8h	5h 26m	$1.1M	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.023%Rate

Funding earned: $25.2
Price spread: +0.023% → −0.028%: $5.1
Slippage, 4 orders: −$9.07
Fee RISEx: 3 bp × 2 orders: −$6
Fee BloFin: 6 bp × 2 orders: −$12
Net: $3.22
Costs to cover: 0.271%
Break-even: 6.1 days

Slippage from RISEx: live order book, 37 min ago; BloFin: live order book, 1 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, 37 min ago	1.63 bp	4.6 bp −$5	5.7 bp −$57	doesn't fit	doesn't fit
Sell BloFin live order book, 1 min ago	0.55 bp	9.2 bp −$9	12.5 bp −$125	24.9 bp −$2,487	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	−0.1307%	8h	91.640	+0.055%	$15.8M	$34.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0077%	1h	91.360	−0.250%	—	$35K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.470	−0.130%	$903K	$518K	10x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.565	−0.026%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.590	+0.001%	$104.5M	$384.9M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.620	+0.033%	$15.0M	$25.8M	50x	as long as short
RISEx CRCL/USDClong	0.0000%	1h	91.589	long leg	$418K	$298K	10x
Gate CRCL_USDT	0.0000%	8h	91.630	+0.044%	$7.1M	$26.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.746	+0.171%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.701	+0.122%	$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	91.600	+0.012%	$1.0M	$49K	10x	as long as short
Aster CRCLUSDT	+0.0001%	8h	91.600	+0.011%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0006%	8h	91.600	+0.012%	$21.5M	$59.4M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0019%	1h	91.582	−0.009%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.550	−0.043%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.604	+0.016%	$972K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.590	+0.001%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.553	−0.040%	$68.4M	$41.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.572	−0.019%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.560	−0.032%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.570	−0.021%	$974K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0069%	8h	91.588	−0.002%	$751	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.552	−0.041%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.580	−0.010%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.820	+0.252%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.590	+0.001%	$913	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.579	−0.011%	$4	—	10x	as long as short
BloFin CRCL-USDTshort	+0.0120%	8h	91.610	+0.023%	$1.1M	$1.3M	20x
edgeX CRCLUSDC	+0.0180%	4h	91.668	+0.086%	$23K	$248K	10x	as long as short
Phoenix CRCL	+0.0183%	1h	91.684	+0.103%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0190%	1h	91.534	−0.060%	$130K	$104K	3x	as long as short
Lighter CRCL	+0.0208%	1h	91.618	+0.031%	$3.0M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.130	+0.590%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0624%	1h	91.640	+0.055%	$4K	$767K	10x	as long as short