Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.073%

Price spread now: Orderly against RISEx+0.028%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on RISEx Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Orderly is 0.028% dearer against RISEx than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx CRCL/USDC	91.974	0	get 0.0000% / 1h	15m 11s	$420K	$299K	10x
Short	Orderly PERP_CRCL_USDC_mythos	92.000	0.0100	get 0.0100% / 8h	6h 15m	$917	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.028%Rate

Funding earned: $21
Price spread: +0.028% → 0.000%: $2.78
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Orderly: 3 bp × 2 orders: −$6
Net: $11.78
Costs to cover: 0.120%
Break-even: 3.1 days

Slippage unknown: RISEx: live order book, 53 min ago; Orderly: no order-book sample. Net counts fees only.

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, 53 min ago	2.65 bp	5.7 bp −$6	6.1 bp −$61	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CRCL on 33 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	−0.0835%	8h	92.060	+0.093%	$16.1M	$35.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0042%	1h	91.800	−0.190%	—	$40K	25x	as long as short
Gate CRCL_USDT	−0.0012%	8h	92.060	+0.093%	$7.1M	$26.8M	50x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.700	−0.298%	$913K	$580K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.030	+0.060%	$15.0M	$25.9M	50x	as long as short
RISEx CRCL/USDClong	0.0000%	1h	91.974	long leg	$420K	$299K	10x
Variational Omni CRCL	0.0000%	8h	91.928	−0.051%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.730	−0.266%	$69K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.010	+0.039%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0024%	1h	91.908	−0.073%	$2K	$23K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	92.063	+0.096%	$975K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.890	−0.092%	$93K	$273K	10x	as long as short
Extended CRCL_24_5-USD	+0.0048%	1h	91.991	+0.018%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0050%	8h	92.015	+0.044%	$104.9M	$394.3M	50x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.991	+0.018%	$69.1M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.952	−0.024%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.995	+0.022%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.730	−0.266%	$999K	$5.5M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0056%	8h	92.030	+0.060%	$21.8M	$60.4M	50x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.970	−0.005%	$1.3M	$2.3M	10x	as long as short
Aster CRCLUSDT	+0.0059%	8h	92.021	+0.051%	$1.1M	$4.9M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0073%	8h	91.975	+0.001%	$754	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.982	+0.009%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.000	+0.028%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.720	−0.277%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythosshort	+0.0100%	8h	92.000	+0.028%	$917	$3K	10x
Aevo CRCL-PERP	+0.0104%	1h	92.014	+0.043%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0153%	1h	91.972	−0.003%	$131K	$104K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0185%	1h	92.040	+0.071%	$4K	$769K	10x	as long as short
Lighter CRCL	+0.0200%	1h	92.073	+0.107%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	91.952	−0.024%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.500	+0.571%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0678%	4h	91.707	−0.291%	$23K	$268K	10x	as long as short