Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.096%

Price spread now: RISEx against Phemex+0.075%7-day average +0.036% · 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−$86as in the Price arb table

costs, in and out, $10k−$900.897% of the position

Long on Phemex Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.305%+$30 on $10k

Price spread, last 4 days (all we have)+0.055%+$6 · spread now +0.075%, 7d avg +0.036%

Together, before fees+0.360%+$36 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: RISEx is 0.039% dearer against Phemex than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex CRCLUSDT	91.740	0	get 0.0000% / 4h	1h 22m	$1.0M	$49K	10x
Short	RISEx CRCL/USDC	91.809	0	get 0.0000% / 1h	22m 54s	$419K	$298K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Phemex. 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 PhemexbpFee RISExbpOrdersPrice spread, now +0.075%Rate

Funding earned: $0
Price spread: +0.075% → +0.036%: $3.93
Slippage, 4 orders: −$71.67
Fee Phemex: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$85.74
Costs to cover: 0.897%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; RISEx: live order book, 40 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 Phemex live order book, 5 min ago	2.18 bp	41.1 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell RISEx live order book, 40 min ago	1.63 bp	4.6 bp −$5	6.4 bp −$64	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	−0.1299%	8h	91.800	+0.065%	$15.9M	$34.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0077%	1h	91.520	−0.240%	—	$31K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.470	−0.294%	$903K	$518K	10x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.746	+0.006%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.770	+0.033%	$104.6M	$385.0M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.800	+0.065%	$15.1M	$25.8M	50x	as long as short
RISEx CRCL/USDCshort	0.0000%	1h	91.809	+0.075%	$419K	$298K	10x
Gate CRCL_USDT	0.0000%	8h	91.800	+0.065%	$7.1M	$26.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.576	−0.179%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.605	−0.147%	$65K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDTlong	0.0000%	4h	91.740	long leg	$1.0M	$49K	10x
Aster CRCLUSDT	+0.0001%	8h	91.749	+0.009%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0006%	8h	91.770	+0.033%	$21.5M	$59.4M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0019%	1h	91.652	−0.096%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.810	+0.076%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.786	+0.050%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.640	−0.109%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.699	−0.045%	$68.5M	$41.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.730	−0.011%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.740	0.000%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.550	−0.207%	$974K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0071%	8h	91.819	+0.086%	$753	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.770	+0.033%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.710	−0.033%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.600	−0.153%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.720	−0.022%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.745	+0.006%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.760	+0.022%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0183%	1h	91.546	−0.211%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0194%	1h	91.764	+0.026%	$131K	$104K	3x	as long as short
Lighter CRCL	+0.0224%	1h	91.793	+0.058%	$3.0M	$2.4M	10x	as long as short
edgeX CRCLUSDC	+0.0300%	4h	91.627	−0.123%	$23K	$248K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.180	+0.480%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0623%	1h	91.770	+0.033%	$4K	$767K	10x	as long as short