CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0186%/8h= +20.3% APRnext payment +$0.23 per $10,000 · paid last 24h −0.050%

Price spread now: RISEx against Deribit+0.011%7-day average +0.042% · 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−$36as in the Price arb table

costs, in and out, $10k−$330.326% of the position

Long on Deribit Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.090%+$9 on $10k

Price spread, last 4 days (all we have)+0.142%+$14 · spread now +0.011%, 7d avg +0.042%

Together, before fees+0.232%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.031% cheaper against Deribit than usual: you would sell low and buy high (spread +0.011% now, against its 7-day average of +0.042%). If the spread goes back, that is −$3 on $10k: about 13 hours of funding at the current rate (+$6 a day). At the pace of the last 4 days (+0.090% in total) that is about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit CRCL_USDC-PERPETUAL	92.010	0.0294	pay 0.0037% / 1h	49m 07s	$5K	$617K	10x
Short	RISEx CRCL/USDC	92.020	0.0479	get 0.0060% / 1h	49m 07s	$411K	$253K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Deribit. 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 DeribitbpFee RISExbpOrdersPrice spread, now +0.011%Rate

Funding earned: $38.96
Price spread: +0.011% → +0.042%: −$3.1
Slippage, 4 orders: −$19.55
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee RISEx: 3 bp × 2 orders: −$6
Net: $3.31
Costs to cover: 0.326%
Break-even: 6.4 days

Slippage from Deribit: live order book, 2 min ago; RISEx: live order book, 2 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 Deribit live order book, 2 min ago	7.06 bp	10.6 bp −$11	13.5 bp −$135	doesn't fit	doesn't fit
Sell RISEx live order book, 2 min ago	2.71 bp	5.7 bp −$6	7.8 bp −$78	doesn't fit	doesn't fit

CRCL on 34 exchanges

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
Vest CRCL-USD-PERP	−0.0058%	1h	92.070	+0.065%	—	$30K	25x	as long as short
Ondo Perps CRCL-USD.P	−0.0034%	1h	91.910	−0.109%	$1.1M	$4.2M	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.030	+0.022%	$7.3M	$25.5M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.050	+0.043%	$17.9M	$35.1M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.030	+0.022%	$1.0M	$46K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0008%	1h	91.860	−0.163%	$860K	$695K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.958	−0.057%	$977K	$2.3M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0036%	1h	92.062	+0.056%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.000	−0.011%	$67.3M	$41.4M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.036	+0.028%	$378K	$944K	10x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX CRCL-USD	+0.0050%	1h	92.018	+0.009%	$46K	$3K	10x	as long as short
Bybit CRCLUSDT	+0.0055%	8h	92.070	+0.065%	$14.9M	$25.7M	50x	as long as short
QFEX CRCL-USD	+0.0080%	1h	92.010	0.000%	$1.3M	$1.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.036	+0.028%	$135K	$137K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.000	−0.011%	$2.6M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.160	+0.163%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.980	−0.033%	$917	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.055	+0.049%	$4	—	10x	as long as short
Lighter CRCL	+0.0144%	1h	92.036	+0.028%	$3.0M	$2.0M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0146%	8h	92.079	+0.075%	$424	$766	5x	as long as short
Phoenix CRCL	+0.0199%	1h	92.089	+0.086%	$27K	$66K	10x	as long as short
Variational Omni CRCL	+0.0208%	8h	92.046	+0.039%	$2.4M	$3.2M	—	as long as short
Aster CRCLUSDT	+0.0270%	8h	91.970	−0.044%	$1.1M	$4.9M	20x	as long as short
Binance CRCLUSDT	+0.0271%	8h	92.038	+0.031%	$105.9M	$376.7M	50x	as long as short
Extended CRCL_24_5-USD	+0.0272%	1h	91.995	−0.016%	$1.1M	$5.0M	10x	as long as short
Deribit CRCL_USDC-PERPETUALlong	+0.0294%	1h	92.010	long leg	$5K	$617K	10x
Nado CRCL-PERP	+0.0296%	1h	92.005	−0.006%	$148K	$111K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0308%	8h	92.100	+0.098%	$22.5M	$59.0M	50x	as long as short
Arcus CRCL-USD	+0.0368%	1h	91.960	−0.054%	$95K	$268K	10x	as long as short
edgeX CRCLUSDC	+0.0375%	4h	91.860	−0.163%	$52K	$269K	10x	as long as short
BloFin CRCL-USDT	+0.0391%	8h	92.030	+0.022%	$1.1M	$1.7M	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	93.200	+1.293%	$39K	$172K	30x	as long as short
RISEx CRCL/USDCshort	+0.0479%	1h	92.020	+0.011%	$411K	$253K	10x
GRVT CRCL_USDT_Perp	+0.0581%	8h	92.547	+0.583%	$62K	$1.1M	10x	as long as short