CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0943%/8h= +103.2% APRnext payment +$1.18 per $10,000 · paid last 24h +0.027%

Price spread now: Deribit against RISEx−0.016%7-day average −0.040% · 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−$27as in the Price arb table

costs, in and out, $10k−$290.294% of the position

Long on RISEx Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.104%−$10 on $10k

Price spread, last 4 days (all we have)−0.046%−$5 · spread now −0.016%, 7d avg −0.040%

Together, before fees−0.150%−$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$28 a day on $10k at the current rate, and Deribit is 0.023% dearer against RISEx than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.040%. Mind the row above: over the last 4 days funding on this pair cost −0.104%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.104% in total (about -10.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.18 per $10,000. 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	RISEx CRCL/USDC	91.735	0.0117	pay 0.0015% / 1h	7m 37s	$418K	$283K	10x
Short	Deribit CRCL_USDC-PERPETUAL	91.720	0.1060	get 0.0133% / 1h	7m 37s	$4K	$768K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.016%Rate

Funding earned: $197.96
Price spread: −0.016% → −0.040%: $2.34
Slippage, 4 orders: −$16.37
Fee RISEx: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $170.93
Costs to cover: 0.294%
Break-even: 1.0 days

Slippage from RISEx: live order book, 41 min ago; Deribit: live order book, 41 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, 41 min ago	2.18 bp	5.2 bp −$5	6.9 bp −$69	doesn't fit	doesn't fit
Sell Deribit live order book, 41 min ago	5.45 bp	10.0 bp −$10	13.2 bp −$132	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	−0.0899%	8h	91.790	+0.060%	$17.2M	$36.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0081%	1h	91.420	−0.343%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.740	+0.005%	$14.7M	$26.8M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.760	+0.027%	$7.7M	$27.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.539	−0.214%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.700	−0.038%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.728	−0.008%	$978K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.426	−0.337%	$2K	$27K	5x	as long as short
Aster CRCLUSDT	+0.0038%	8h	91.621	−0.124%	$1.0M	$5.1M	20x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.560	−0.191%	$93K	$289K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps CRCL-USD	+0.0050%	1h	91.712	−0.025%	$384K	$1.3M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.714	−0.023%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.570	−0.180%	$1.1M	$5.2M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	91.720	−0.016%	$1.3M	$1.8M	10x	as long as short
Binance CRCLUSDT	+0.0056%	8h	91.740	+0.005%	$104.5M	$397.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0056%	1h	91.714	−0.023%	$1.0M	$5.7M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0067%	1h	91.676	−0.064%	$67.9M	$44.3M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	91.590	−0.158%	$892K	$606K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.720	−0.016%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.640	−0.104%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.470	−0.289%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.710	−0.027%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.726	−0.010%	$4	—	10x	as long as short
RISEx CRCL/USDClong	+0.0117%	1h	91.735	long leg	$418K	$283K	10x
GRVT CRCL_USDT_Perp	+0.0134%	8h	91.536	−0.217%	$65K	$1.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0142%	8h	91.725	−0.011%	$422	$905	5x	as long as short
OKX CRCL-USDT-SWAP	+0.0153%	8h	91.760	+0.027%	$22.3M	$62.8M	50x	as long as short
BloFin CRCL-USDT	+0.0169%	8h	91.700	−0.038%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0210%	1h	91.229	−0.552%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0256%	1h	91.740	+0.005%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0329%	1h	91.607	−0.140%	$134K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.770	+0.038%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0552%	4h	91.496	−0.261%	$52K	$277K	10x	as long as short
Deribit CRCL_USDC-PERPETUALshort	+0.1060%	1h	91.720	−0.016%	$4K	$768K	10x