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: edgeX against RISEx−0.032%7-day average −0.028% · 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−$320.323% of the position

Long on RISEx Short on edgeX

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	RISEx CRCL/USDC	91.894	0.0107	pay 0.0013% / 1h	37m 11s	$418K	$299K	10x
Short	edgeX CRCLUSDC	91.865	0.0938	get 0.0469% / 4h	3h 37m	$51K	$276K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.032%Rate

Funding earned: $174.44
Price spread: −0.032% → −0.028%: −$0.36
Slippage, 4 orders: −$17.25
Fee RISEx: 3 bp × 2 orders: −$6
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $141.83
Costs to cover: 0.323%
Break-even: 1.3 days

Slippage from RISEx: live order book, 16 min ago; edgeX: 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 RISEx live order book, 16 min ago	1.63 bp	4.6 bp −$5	6.6 bp −$66	doesn't fit	doesn't fit
Sell edgeX live order book, 16 min ago	5.97 bp	11.5 bp −$12	23.9 bp −$239	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	+0.147%	$16.8M	$35.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0066%	1h	91.640	−0.277%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.000	+0.115%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.980	+0.093%	$7.3M	$27.3M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.849	−0.050%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.950	+0.060%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0012%	8h	91.950	+0.061%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0016%	1h	91.922	+0.030%	$1.2M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0019%	8h	91.962	+0.073%	$104.7M	$391.3M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.933	+0.042%	$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	+0.087%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.850	−0.048%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.890	−0.005%	$907K	$510K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.879	−0.017%	$68.2M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.840	−0.059%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.922	+0.030%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.680	−0.233%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.910	+0.017%	$1.3M	$1.9M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0074%	8h	91.870	−0.026%	$70K	$1.1M	10x	as long as short
BloFin CRCL-USDT	+0.0075%	8h	91.920	+0.028%	$1.1M	$1.6M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0084%	8h	92.010	+0.126%	$22.3M	$61.6M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.891	−0.003%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.910	+0.017%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.770	−0.135%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.930	+0.039%	$917	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.965	+0.076%	$4	—	10x	as long as short
RISEx CRCL/USDClong	+0.0107%	1h	91.894	long leg	$418K	$299K	10x
Paradex CRCL-USD-PERP	+0.0133%	8h	91.891	−0.004%	$423	$905	5x	as long as short
Phoenix CRCL	+0.0182%	1h	91.828	−0.072%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0312%	1h	91.980	+0.093%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0375%	1h	91.826	−0.075%	$134K	$106K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.390	+0.539%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0839%	1h	91.960	+0.071%	$4K	$768K	10x	as long as short
edgeX CRCLUSDCshort	+0.0938%	4h	91.865	−0.032%	$51K	$276K	10x