Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0013%/8h= +1.4% APRpaid last 24h −0.028%

Price spread now: OKX against RISEx+0.098%7-day average −0.016% · 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−$10as in the Price arb table

costs, in and out, $10k−$210.214% of the position

Long on RISEx Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.252%−$25 on $10k

Price spread, last 4 days (all we have)+0.145%+$14 · spread now +0.098%, 7d avg −0.016%

Together, before fees−0.108%−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and OKX is 0.114% dearer against RISEx than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.016%. Mind the row above: over the last 4 days funding on this pair cost −0.252%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx CRCL/USDC	91.580	0	get 0.0000% / 1h	33m 11s	$416K	$299K	10x
Short	OKX CRCL-USDT-SWAP	91.670	0.0013	get 0.0013% / 8h	4h 33m	$21.9M	$60.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.098%Rate

Funding earned: $2.78
Price spread: +0.098% → −0.016%: $11.39
Slippage, 4 orders: −$5.36
Fee RISEx: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$7.19
Costs to cover: 0.214%
Break-even: 25.1 days

Slippage from RISEx: live order book, 25 min ago; OKX: live order book, 6 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, 25 min ago	1.09 bp	4.1 bp −$4	6.0 bp −$60	doesn't fit	doesn't fit
Sell OKX live order book, 6 min ago	0.55 bp	6.3 bp −$6	11.4 bp −$114	158.2 bp −$15.8K	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	−0.1035%	8h	91.670	+0.098%	$16.2M	$34.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0068%	1h	91.320	−0.284%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.601	+0.023%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.592	+0.013%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.650	+0.076%	$104.4M	$388.9M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.690	+0.120%	$14.9M	$26.4M	50x	as long as short
RISEx CRCL/USDClong	0.0000%	1h	91.580	long leg	$416K	$299K	10x
Gate CRCL_USDT	0.0000%	8h	91.650	+0.076%	$7.2M	$27.1M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.439	−0.154%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.541	−0.043%	$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 CRCLUSDT	0.0000%	4h	91.600	+0.022%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAPshort	+0.0013%	8h	91.670	+0.098%	$21.9M	$60.8M	50x
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.500	−0.087%	$903K	$489K	10x	as long as short
QFEX CRCL-USD	+0.0028%	1h	91.550	−0.033%	$1.3M	$2.0M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0029%	1h	91.617	+0.040%	$2K	$24K	5x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.678	+0.107%	$972K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.530	−0.055%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.554	−0.028%	$68.3M	$41.6M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.551	−0.032%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.534	−0.050%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.410	−0.186%	$992K	$5.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0086%	8h	91.538	−0.046%	$421	$905	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.529	−0.055%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.620	+0.044%	$2.7M	$2.0M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.500	−0.087%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.610	+0.033%	$913	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.592	+0.013%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.660	+0.087%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	91.525	−0.060%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0152%	1h	91.685	+0.115%	$3.0M	$2.4M	10x	as long as short
edgeX CRCLUSDC	+0.0281%	4h	91.498	−0.090%	$51K	$276K	10x	as long as short
Nado CRCL-PERP	+0.0290%	1h	91.483	−0.106%	$130K	$104K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.090	+0.557%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0843%	1h	91.610	+0.033%	$4K	$767K	10x	as long as short