Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0311%/8h= −34.0% APRpaid last 24h +0.051%

Price spread now: edgeX against RISEx+0.091%7-day average −0.035% · 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−$19as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on RISEx Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.248%+$25 on $10k

Price spread, last 3 days (all we have)+0.056%+$6 · spread now +0.091%, 7d avg −0.035%

Together, before fees+0.304%+ Points / potential airdropedgeX: Active · farm board+$30 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.126% dearer against RISEx than usual: you sell high and buy low (spread +0.091% now, against its 7-day average of −0.035%): +$13 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 32 hours. Mind the row above: over the last 3 days funding on this pair paid +0.248%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx CRCL/USDC	94.728	0.0534	pay 0.0067% / 1h	41m 12s	$432K	$312K	10x
Short	edgeX CRCLUSDC	94.814	0.0223	get 0.0112% / 4h	41m 12s	$24K	$269K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.091%Rate

Funding earned: −$65.28
Price spread: +0.091% → −0.035%: $12.56
Slippage, 4 orders: −$16.81
Fee RISEx: 3 bp × 2 orders: −$6
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$84.53
Costs to cover: 0.318%
Break-even: never at this rate

Slippage from RISEx: live order book, 37 min ago; edgeX: live order book, 36 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	1.59 bp	4.6 bp −$5	5.0 bp −$50	doesn't fit	doesn't fit
Sell edgeX live order book, 36 min ago	5.84 bp	11.5 bp −$12	23.5 bp −$235	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	94.780	+0.055%	$7.2M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.770	+0.044%	$1.0M	$52K	10x	as long as short
QFEX CRCL-USD	+0.0022%	1h	94.730	+0.002%	$1.4M	$2.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	94.510	−0.230%	$940K	$723K	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.740	+0.013%	—	$45K	25x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.757	+0.030%	$48K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.720	−0.009%	$1.1M	$5.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0052%	1h	94.731	+0.003%	$2K	$21K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0059%	1h	94.703	−0.027%	$367K	$1.1M	10x	as long as short
Lighter RH CRCL	+0.0080%	1h	94.774	+0.048%	$894K	$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	94.700	−0.030%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.720	−0.009%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.720	−0.009%	$70K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.750	+0.023%	$945	$3K	10x	as long as short
Bybit CRCLUSDT	+0.0104%	8h	94.740	+0.013%	$15.6M	$25.9M	50x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.773	+0.048%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0122%	8h	94.663	−0.069%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0134%	8h	94.724	−0.005%	$777	$740	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0177%	8h	94.871	+0.151%	$61K	$1.1M	10x	as long as short
Extended CRCL_24_5-USD	+0.0192%	1h	94.739	+0.012%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0193%	8h	94.765	+0.039%	$109.6M	$390.0M	50x	as long as short
Aster CRCLUSDT	+0.0205%	8h	94.772	+0.046%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0206%	8h	94.750	+0.023%	$22.9M	$60.7M	50x	as long as short
edgeX CRCLUSDCshort	+0.0223%	4h	94.814	+0.091%	$24K	$269K	10x
tradeXYZ xyz:CRCL	+0.0264%	1h	94.709	−0.020%	$71.1M	$42.9M	10x	as long as short
Phoenix CRCL	+0.0288%	1h	94.749	+0.022%	$28K	$92K	10x	as long as short
Nado CRCL-PERP	+0.0306%	1h	94.657	−0.075%	$127K	$73K	3x	as long as short
BloFin CRCL-USDT	+0.0313%	8h	94.810	+0.086%	$1.1M	$595K	20x	as long as short
Bitget CRCLUSDT	+0.0315%	8h	94.760	+0.034%	$16.9M	$35.4M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	95.560	+0.878%	$5K	$19K	30x	as long as short
Lighter CRCL	+0.0448%	1h	94.789	+0.064%	$3.1M	$2.2M	10x	as long as short
Arcus CRCL-USD	+0.0533%	1h	94.710	−0.019%	$97K	$275K	10x	as long as short
RISEx CRCL/USDClong	+0.0534%	1h	94.728	long leg	$432K	$312K	10x
Deribit CRCL_USDC-PERPETUAL	+0.1123%	1h	94.780	+0.055%	$4K	$772K	10x	as long as short