Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0677%/8h= −74.1% APRpaid last 24h −0.055%

Price spread now: Gate against RISEx−0.005%7-day average −0.015% · 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−$340.338% of the position

Long on RISEx Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.289%−$29 on $10k

Price spread, last 4 days (all we have)+0.007%+$1 · spread now −0.005%, 7d avg −0.015%

Together, before fees−0.282%−$28 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.015%, so right now this pair is about funding alone: −$20 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx CRCL/USDC	94.265	0.0677	pay 0.0085% / 1h	45m 27s	$430K	$303K	10x
Short	Gate CRCL_USDT	94.260	0	get 0.0000% / 8h	7h 45m	$7.2M	$26.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.005%Rate

Funding earned: −$142.14
Price spread: −0.005% → −0.015%: $0.92
Slippage, 4 orders: −$12.77
Fee RISEx: 3 bp × 2 orders: −$6
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$174.99
Costs to cover: 0.338%
Break-even: never at this rate

Slippage from RISEx: live order book, 28 min ago; Gate: live order book, 3 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, 28 min ago	1.06 bp	4.1 bp −$4	5.1 bp −$51	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	0.53 bp	13.4 bp −$13	26.1 bp −$261	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
Coinbase International CRCL-PERP-INTX	−0.0064%	1h	94.100	−0.175%	$941K	$724K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	94.300	+0.037%	$15.5M	$25.9M	50x	as long as short
Gate CRCL_USDTshort	0.0000%	8h	94.260	−0.005%	$7.2M	$26.9M	50x
GRVT CRCL_USDT_Perp	0.0000%	8h	94.241	−0.026%	$64K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.250	−0.016%	$1.0M	$52K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.235	−0.032%	$890K	$2.8M	10x	as long as short
QFEX CRCL-USD	+0.0042%	1h	94.220	−0.048%	$1.4M	$2.7M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.150	−0.122%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0046%	1h	94.218	−0.050%	$2K	$21K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	94.230	−0.037%	$71.6M	$42.3M	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	94.274	+0.010%	$365K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.196	−0.073%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.130	−0.143%	$1.1M	$5.8M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.181	−0.089%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.310	+0.048%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.230	−0.037%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.240	−0.027%	$940	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.207	−0.062%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0109%	8h	94.234	−0.033%	$773	$740	5x	as long as short
Bitget CRCLUSDT	+0.0145%	8h	94.320	+0.058%	$16.9M	$35.1M	25x	as long as short
OKX CRCL-USDT-SWAP	+0.0157%	8h	94.320	+0.058%	$22.8M	$60.4M	50x	as long as short
Variational Omni CRCL	+0.0162%	8h	94.220	−0.047%	$2.5M	$3.1M	—	as long as short
edgeX CRCLUSDC	+0.0200%	4h	94.169	−0.101%	$24K	$268K	10x	as long as short
Nado CRCL-PERP	+0.0218%	1h	94.159	−0.112%	$131K	$76K	3x	as long as short
Binance CRCLUSDT	+0.0220%	8h	94.255	−0.011%	$109.2M	$389.0M	50x	as long as short
Extended CRCL_24_5-USD	+0.0224%	1h	94.228	−0.039%	$1.1M	$4.3M	10x	as long as short
Aster CRCLUSDT	+0.0226%	8h	94.250	−0.016%	$1.1M	$4.9M	20x	as long as short
Lighter CRCL	+0.0280%	1h	94.248	−0.018%	$3.0M	$2.2M	10x	as long as short
Phoenix CRCL	+0.0296%	1h	94.205	−0.064%	$28K	$92K	10x	as long as short
BloFin CRCL-USDT	+0.0346%	8h	94.250	−0.016%	$1.1M	$561K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.650	+0.408%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.210	−0.058%	$96K	$276K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0600%	1h	94.180	−0.090%	$4K	$772K	10x	as long as short
RISEx CRCL/USDClong	+0.0677%	1h	94.265	long leg	$430K	$303K	10x