Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.055%

Price spread now: Gate against RISEx−0.080%7-day average −0.013% · 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−$49as in the Price arb table

costs, in and out, $10k−$420.425% of the position

Long on RISEx Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.298%−$30 on $10k

Price spread, last 4 days (all we have)+0.077%+$8 · spread now −0.080%, 7d avg −0.013%

Together, before fees−0.221%−$22 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.067% cheaper against RISEx than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx CRCL/USDC	92.024	0	get 0.0000% / 1h	40m 54s	$420K	$300K	10x
Short	Gate CRCL_USDT	91.950	0	get 0.0000% / 8h	6h 40m	$7.2M	$26.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.080%Rate

Funding earned: $0
Price spread: −0.080% → −0.013%: −$6.71
Slippage, 4 orders: −$21.49
Fee RISEx: 3 bp × 2 orders: −$6
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$49.2
Costs to cover: 0.425%
Break-even: never at this rate

Slippage from RISEx: live order book, 28 min ago; Gate: live order book, 3 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, 28 min ago	2.65 bp	5.7 bp −$6	6.1 bp −$61	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	1.62 bp	18.0 bp −$18	34.4 bp −$344	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	−0.0107%	8h	91.970	−0.059%	$16.2M	$35.2M	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.890	−0.146%	$915K	$585K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.870	−0.167%	$15.1M	$25.7M	50x	as long as short
RISEx CRCL/USDClong	0.0000%	1h	92.024	long leg	$420K	$300K	10x
Gate CRCL_USDTshort	0.0000%	8h	91.950	−0.080%	$7.2M	$26.2M	50x
GRVT CRCL_USDT_Perp	0.0000%	8h	92.081	+0.062%	$63K	$1.1M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	0.0000%	1h	91.900	−0.135%	$4K	$769K	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.970	−0.059%	$1.0M	$49K	10x	as long as short
Variational Omni CRCL	+0.0004%	8h	91.891	−0.145%	$2.5M	$3.2M	—	as long as short
Vest CRCL-USD-PERP	+0.0014%	1h	91.790	−0.254%	—	$37K	25x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0027%	1h	92.234	+0.229%	$2K	$22K	5x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.934	−0.098%	$972K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.110	+0.094%	$94K	$272K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.880	−0.156%	$69.4M	$41.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.980	−0.048%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.910	−0.124%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.950	−0.080%	$1.0M	$5.5M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.980	−0.048%	$1.3M	$2.4M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0083%	8h	91.900	−0.135%	$21.7M	$59.9M	50x	as long as short
Paradex CRCL-USD-PERP	+0.0086%	8h	92.051	+0.030%	$755	$740	5x	as long as short
Extended CRCL_24_5-USD	+0.0088%	1h	91.857	−0.181%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0088%	8h	91.830	−0.211%	$105.1M	$391.8M	50x	as long as short
Aster CRCLUSDT	+0.0089%	8h	91.938	−0.093%	$1.1M	$4.9M	20x	as long as short
Pacifica CRCL	+0.0100%	1h	92.020	−0.004%	$129K	$154K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.960	−0.069%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.210	+0.202%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.910	−0.124%	$916	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.880	−0.157%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0207%	1h	92.063	+0.042%	$142K	$94K	3x	as long as short
BloFin CRCL-USDT	+0.0222%	8h	92.330	+0.333%	$1.1M	$1.1M	20x	as long as short
Lighter CRCL	+0.0224%	1h	91.943	−0.088%	$3.0M	$2.3M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	91.994	−0.032%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	93.910	+2.050%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0628%	4h	92.314	+0.315%	$23K	$267K	10x	as long as short