Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0814%/8h= +89.2% APRpaid last 24h +0.028%

Price spread now: RISEx against Bitget−0.056%7-day average +0.001% · 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−$33as in the Price arb table

costs, in and out, $10k−$270.274% of the position

Long on Bitget Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.266%+$27 on $10k

Price spread, last 4 days (all we have)+0.108%+$11 · spread now −0.056%, 7d avg +0.001%

Together, before fees+0.375%+$37 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.057% cheaper against Bitget than usual: you would sell low and buy high (spread −0.056% now, against its 7-day average of +0.001%). If the spread goes back, that is −$6 on $10k: about 6 hours of funding at the current rate (+$24 a day). At the pace of the last 4 days (+0.266% in total) that is about 18 hours.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.266% in total (about 27.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CRCLUSDT	91.930	−0.0707	get 0.0707% / 8h	3h 40m	$16.8M	$35.5M	25x
Short	RISEx CRCL/USDC	91.878	0.0107	get 0.0013% / 1h	40m 03s	$418K	$299K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Bitget. 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 BitgetbpFee RISExbpOrdersPrice spread, now −0.056%Rate

Funding earned: $170.98
Price spread: −0.056% → +0.001%: −$5.67
Slippage, 4 orders: −$9.37
Fee Bitget: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: $137.95
Costs to cover: 0.274%
Break-even: 1.4 days

Slippage from Bitget: live order book, 4 min ago; RISEx: live order book, 13 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 Bitget live order book, 4 min ago	1.09 bp	9.5 bp −$9	14.1 bp −$141	31.7 bp −$3,168	doesn't fit
Sell RISEx live order book, 13 min ago	1.63 bp	4.6 bp −$5	5.2 bp −$52	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 CRCLUSDTlong	−0.0707%	8h	91.930	long leg	$16.8M	$35.5M	25x
Vest CRCL-USD-PERP	−0.0067%	1h	91.610	−0.348%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.880	−0.054%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.960	+0.033%	$7.3M	$27.3M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.849	−0.088%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.820	−0.120%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0005%	8h	91.841	−0.097%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0013%	8h	91.880	−0.054%	$104.7M	$391.3M	50x	as long as short
Extended CRCL_24_5-USD	+0.0016%	1h	91.854	−0.083%	$1.2M	$5.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.861	−0.075%	$2K	$25K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0040%	1h	91.860	−0.076%	$973K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.850	−0.087%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.890	−0.044%	$907K	$510K	10x	as long as short
BloFin CRCL-USDT	+0.0049%	8h	91.810	−0.131%	$1.1M	$1.6M	20x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.803	−0.138%	$68.2M	$41.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.840	−0.098%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.833	−0.106%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.680	−0.272%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.860	−0.076%	$1.3M	$1.9M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0072%	8h	91.949	+0.021%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0077%	8h	91.900	−0.033%	$22.3M	$61.6M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.886	−0.048%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.820	−0.120%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.920	−0.011%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.790	−0.152%	$915	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.845	−0.092%	$4	—	10x	as long as short
RISEx CRCL/USDCshort	+0.0107%	1h	91.878	−0.056%	$418K	$299K	10x
Paradex CRCL-USD-PERP	+0.0129%	8h	91.815	−0.125%	$422	$905	5x	as long as short
Phoenix CRCL	+0.0182%	1h	91.905	−0.027%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0312%	1h	91.864	−0.072%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0367%	1h	91.746	−0.200%	$134K	$106K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.468%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0501%	4h	91.963	+0.036%	$51K	$275K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.1058%	1h	91.870	−0.065%	$4K	$768K	10x	as long as short