Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0083%/8h= +9.0% APRpaid last 24h +0.033%

Price spread now: RISEx against Binance+0.019%55s7-day average +0.039% · 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—prices read too far apart to compare

costs, in and out, $10k−$220.220% of the position

Long on Binance Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.275%+$28 on $10k

Price spread, last 4 days (all we have)+0.052%+$5 · spread now +0.019%, 7d avg +0.039%

Together, before fees+0.328%+$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.020% cheaper against Binance than usual: you would sell low and buy high (spread +0.019% now, against its 7-day average of +0.039%). If the spread goes back, that is −$2 on $10k: about 20 hours of funding at the current rate (+$2 a day). At the pace of the last 4 days (+0.275% in total) that is about 6 hours. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CRCLUSDT	91.873	0.0025	pay 0.0025% / 8h	3h 04m	$104.7M	$392.7M	50x
Short	RISEx CRCL/USDC	91.890	0.0107	get 0.0013% / 1h	4m 50s	$418K	$299K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Binance. 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 BinancebpFee RISExbpOrdersPrice spread, now +0.019%Rate

Funding earned: $17.33
Price spread: +0.019% → +0.039%: −$2.03
Slippage, 4 orders: −$6.01
Fee Binance: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$6.71
Costs to cover: 0.220%
Break-even: 9.7 days

Slippage from Binance: live order book, 9 min ago; RISEx: live order book, 48 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 Binance live order book, 9 min ago	0.54 bp	6.2 bp −$6	10.2 bp −$102	32.2 bp −$3,223	doesn't fit
Sell RISEx live order book, 48 min ago	1.63 bp	4.6 bp −$5	5.2 bp −$52	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	−0.0675%	8h	91.940	+0.073%	$16.6M	$35.8M	25x	as long as short
Vest CRCL-USD-PERP	−0.0062%	1h	91.650	−0.242%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.880	+0.008%	$14.7M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.970	+0.106%	$7.4M	$27.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.949	+0.083%	$2.5M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.890	+0.019%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0015%	8h	91.883	+0.012%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	91.895	+0.024%	$1.2M	$5.6M	10x	as long as short
Binance CRCLUSDTlong	+0.0025%	8h	91.873	long leg	$104.7M	$392.7M	50x
Lighter RH CRCL	+0.0032%	1h	91.893	+0.022%	$974K	$2.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0039%	1h	91.866	−0.007%	$2K	$26K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.850	−0.025%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.770	−0.112%	$914K	$522K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.774	−0.107%	$68.1M	$42.3M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.880	+0.008%	$386K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.888	+0.017%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.890	+0.019%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.880	+0.008%	$1.3M	$1.9M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0076%	8h	91.899	+0.028%	$423	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0085%	8h	91.859	−0.015%	$70K	$1.1M	10x	as long as short
BloFin CRCL-USDT	+0.0096%	8h	91.920	+0.052%	$1.1M	$1.6M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0099%	8h	91.940	+0.073%	$22.4M	$61.9M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.900	+0.030%	$136K	$160K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.890	+0.019%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.800	−0.079%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.900	+0.030%	$916	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.890	+0.019%	$4	—	10x	as long as short
RISEx CRCL/USDCshort	+0.0107%	1h	91.890	+0.019%	$418K	$299K	10x
Phoenix CRCL	+0.0182%	1h	91.893	+0.022%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0248%	1h	91.862	−0.011%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0348%	1h	91.853	−0.021%	$134K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.531%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0512%	1h	91.900	+0.030%	$4K	$768K	10x	as long as short
edgeX CRCLUSDC	+0.0757%	4h	91.849	−0.026%	$51K	$276K	10x	as long as short