Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0831%/8h= −91.0% APRpaid last 24h −0.085%

Price spread now: RISEx against edgeX+0.032%7-day average +0.028% · 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−$32as in the Price arb table

costs, in and out, $10k−$320.323% of the position

Long on edgeX Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.268%−$27 on $10k

Price spread, last 4 days (all we have)−0.222%−$22 · spread now +0.032%, 7d avg +0.028%

Together, before fees−0.490%+ Points / potential airdropedgeX: Active · farm board−$49 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.028%, so right now this pair is about funding alone: −$25 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.268% in total (about -27.2% 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	edgeX CRCLUSDC	91.865	0.0938	pay 0.0469% / 4h	3h 37m	$51K	$276K	10x
Short	RISEx CRCL/USDC	91.894	0.0107	get 0.0013% / 1h	37m 12s	$418K	$299K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against edgeX. 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 edgeXbpFee RISExbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$174.44
Price spread: +0.032% → +0.028%: $0.36
Slippage, 4 orders: −$17.25
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$206.33
Costs to cover: 0.323%
Break-even: never at this rate

Slippage from edgeX: live order book, 15 min ago; RISEx: live order book, 16 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 edgeX live order book, 15 min ago	5.97 bp	11.5 bp −$11	23.7 bp −$237	doesn't fit	doesn't fit
Sell RISEx live order book, 16 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 CRCLUSDT	−0.0711%	8h	92.030	+0.179%	$16.8M	$35.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0066%	1h	91.640	−0.245%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.000	+0.147%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.980	+0.125%	$7.3M	$27.3M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.849	−0.018%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.950	+0.092%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0012%	8h	91.950	+0.093%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0016%	1h	91.922	+0.061%	$1.2M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0019%	8h	91.962	+0.105%	$104.7M	$391.3M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.933	+0.074%	$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	91.974	+0.118%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.850	−0.017%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.890	+0.027%	$907K	$510K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.879	+0.015%	$68.2M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.840	−0.028%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.922	+0.062%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.680	−0.202%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.910	+0.049%	$1.3M	$1.9M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0074%	8h	91.870	+0.005%	$70K	$1.1M	10x	as long as short
BloFin CRCL-USDT	+0.0075%	8h	91.920	+0.059%	$1.1M	$1.6M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0084%	8h	92.010	+0.157%	$22.3M	$61.6M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.891	+0.028%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.910	+0.049%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.770	−0.104%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.930	+0.070%	$917	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.965	+0.108%	$4	—	10x	as long as short
RISEx CRCL/USDCshort	+0.0107%	1h	91.894	+0.032%	$418K	$299K	10x
Paradex CRCL-USD-PERP	+0.0133%	8h	91.891	+0.027%	$423	$905	5x	as long as short
Phoenix CRCL	+0.0182%	1h	91.828	−0.041%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0312%	1h	91.980	+0.125%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0375%	1h	91.826	−0.043%	$134K	$106K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.390	+0.571%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0839%	1h	91.960	+0.103%	$4K	$768K	10x	as long as short
edgeX CRCLUSDClong	+0.0938%	4h	91.865	long leg	$51K	$276K	10x