Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0059%/8h= −6.4% APRpaid last 24h +0.004%

Price spread now: BloFin against RISEx−0.085%97s7-day average −0.035% · 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—prices read too far apart to compare

costs, in and out, $10k−$220.225% of the position

Long on RISEx Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.140%−$14 on $10k

Price spread, last 4 days (all we have)+0.021%+$2 · spread now −0.085%, 7d avg −0.035%

Together, before fees−0.119%−$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and BloFin is 0.050% cheaper against RISEx than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.035%). Swap the legs. The two prices were read 97 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	RISEx CRCL/USDC	91.888	0.0107	pay 0.0013% / 1h	39m 23s	$418K	$299K	10x
Short	BloFin CRCL-USDT	91.810	0.0049	get 0.0049% / 8h	3h 39m	$1.1M	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.085%Rate

Funding earned: −$12.33
Price spread: −0.085% → −0.035%: −$4.98
Slippage, 4 orders: −$4.47
Fee RISEx: 3 bp × 2 orders: −$6
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$39.78
Costs to cover: 0.225%
Break-even: never at this rate

Slippage from RISEx: live order book, 14 min ago; BloFin: 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, 14 min ago	1.63 bp	4.6 bp −$5	6.6 bp −$66	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	0.54 bp	6.5 bp −$7	9.0 bp −$90	28.9 bp −$2,889	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	−0.0709%	8h	91.920	+0.035%	$16.8M	$35.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.610	−0.302%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.870	−0.019%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.950	+0.068%	$7.3M	$27.3M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.849	−0.042%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.820	−0.074%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0008%	8h	91.863	−0.027%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0015%	8h	91.860	−0.030%	$104.6M	$391.3M	50x	as long as short
Extended CRCL_24_5-USD	+0.0016%	1h	91.862	−0.028%	$1.2M	$5.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.861	−0.029%	$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	91.873	−0.016%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.850	−0.041%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.890	+0.002%	$907K	$510K	10x	as long as short
BloFin CRCL-USDTshort	+0.0049%	8h	91.810	−0.085%	$1.1M	$1.6M	20x
tradeXYZ xyz:CRCL	+0.0050%	1h	91.803	−0.092%	$68.2M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.840	−0.052%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.833	−0.060%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.680	−0.226%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.870	−0.019%	$1.3M	$1.9M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0065%	8h	91.870	−0.019%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0079%	8h	91.880	−0.009%	$22.3M	$61.6M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.864	−0.026%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.830	−0.063%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.920	+0.035%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.800	−0.096%	$915	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.842	−0.049%	$4	—	10x	as long as short
RISEx CRCL/USDClong	+0.0107%	1h	91.888	long leg	$418K	$299K	10x
Paradex CRCL-USD-PERP	+0.0132%	8h	91.860	−0.030%	$423	$905	5x	as long as short
Phoenix CRCL	+0.0182%	1h	91.905	+0.019%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0312%	1h	91.886	−0.002%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0372%	1h	91.766	−0.133%	$134K	$106K	3x	as long as short
edgeX CRCLUSDC	+0.0426%	4h	91.799	−0.097%	$51K	$275K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.514%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.1058%	1h	91.870	−0.019%	$4K	$768K	10x	as long as short