CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0203%/8h= −22.2% APRnext payment −$0.25 per $10,000 · paid last 24h −0.060%

Price spread now: QFEX against RISEx−0.011%7-day average −0.041% · 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−$20as in the Price arb table

costs, in and out, $10k−$230.226% of the position

Long on RISEx Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.287%−$29 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now −0.011%, 7d avg −0.041%

Together, before fees−0.355%−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.030% dearer against RISEx than usual: you sell high and buy low (spread −0.011% now, against its 7-day average of −0.041%): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx CRCL/USDC	91.450	0.0271	pay 0.0034% / 1h	44m 18s	$416K	$268K	10x
Short	QFEX CRCL-USD	91.440	0.0068	get 0.0009% / 1h	44m 18s	$1.3M	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$42.56
Price spread: −0.011% → −0.041%: $3.02
Slippage, 4 orders: −$6.56
Fee RISEx: 3 bp × 2 orders: −$6
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$62.09
Costs to cover: 0.226%
Break-even: never at this rate

Slippage from RISEx: live order book, 64 min ago; QFEX: 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, 64 min ago	2.18 bp	5.2 bp −$5	6.9 bp −$69	doesn't fit	doesn't fit
Sell QFEX live order book, 3 min ago	1.10 bp	6.1 bp −$6	6.3 bp −$63	14.6 bp −$1,460	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	−0.0724%	8h	91.470	+0.022%	$17.4M	$37.1M	25x	as long as short
Vest CRCL-USD-PERP	−0.0085%	1h	91.120	−0.361%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.380	−0.077%	$14.7M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.420	−0.033%	$7.8M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.309	−0.154%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.440	−0.011%	$1.0M	$48K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	91.366	−0.092%	$2K	$27K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.360	−0.098%	$93K	$289K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.378	−0.079%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.310	−0.153%	$1.1M	$5.2M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International CRCL-PERP-INTX	+0.0056%	1h	91.310	−0.153%	$889K	$604K	10x	as long as short
QFEX CRCL-USDshort	+0.0068%	1h	91.440	−0.011%	$1.3M	$1.8M	10x
Aster CRCLUSDT	+0.0078%	8h	91.415	−0.038%	$1.0M	$5.1M	20x	as long as short
Extended CRCL_24_5-USD	+0.0088%	1h	91.340	−0.120%	$1.0M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0090%	8h	91.380	−0.077%	$104.5M	$397.5M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.410	−0.044%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.420	−0.033%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.240	−0.230%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.350	−0.109%	$911	$2K	10x	as long as short
Lighter RH CRCL	+0.0104%	1h	91.458	+0.009%	$977K	$2.7M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.354	−0.105%	$4	—	10x	as long as short
tradeXYZ xyz:CRCL	+0.0136%	1h	91.318	−0.144%	$67.6M	$44.4M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0165%	1h	91.371	−0.086%	$383K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0170%	8h	91.425	−0.028%	$421	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0181%	8h	91.343	−0.117%	$67K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0186%	8h	91.380	−0.077%	$22.2M	$62.7M	50x	as long as short
BloFin CRCL-USDT	+0.0208%	8h	91.490	+0.044%	$1.1M	$1.7M	20x	as long as short
Phoenix CRCL	+0.0245%	1h	91.384	−0.072%	$27K	$82K	10x	as long as short
RISEx CRCL/USDClong	+0.0271%	1h	91.450	long leg	$416K	$268K	10x
Deribit CRCL_USDC-PERPETUAL	+0.0297%	1h	91.390	−0.066%	$5K	$769K	10x	as long as short
Lighter CRCL	+0.0304%	1h	91.453	+0.003%	$2.9M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0435%	1h	91.330	−0.131%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.930	+0.525%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0926%	4h	91.343	−0.117%	$52K	$278K	10x	as long as short