Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0107%/8h= −11.7% APRpaid last 24h −0.035%

Price spread now: Gate against RISEx−0.022%7-day average −0.010% · 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−$37as in the Price arb table

costs, in and out, $10k−$360.361% of the position

Long on RISEx Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.297%−$30 on $10k

Price spread, last 4 days (all we have)+0.031%+$3 · spread now −0.022%, 7d avg −0.010%

Together, before fees−0.266%−$27 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.010%, so right now this pair is about funding alone: −$3 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	91.810	0.0107	pay 0.0013% / 1h	41m 53s	$417K	$299K	10x
Short	Gate CRCL_USDT	91.790	0	get 0.0000% / 8h	3h 41m	$7.3M	$27.3M	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 −0.022%Rate

Funding earned: −$22.51
Price spread: −0.022% → −0.010%: −$1.16
Slippage, 4 orders: −$15.13
Fee RISEx: 3 bp × 2 orders: −$6
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$59.8
Costs to cover: 0.361%
Break-even: never at this rate

Slippage from RISEx: live order book, 11 min ago; Gate: 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 RISEx live order book, 11 min ago	1.63 bp	4.6 bp −$5	6.6 bp −$66	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.17 bp	15.1 bp −$15	33.3 bp −$333	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	−0.0697%	8h	91.850	+0.044%	$16.7M	$35.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.600	−0.229%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.830	+0.022%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDTshort	0.0000%	8h	91.790	−0.022%	$7.3M	$27.3M	50x
Variational Omni CRCL	0.0000%	8h	91.979	+0.184%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.810	0.000%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0009%	8h	91.798	−0.013%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0014%	8h	91.791	−0.021%	$104.6M	$391.2M	50x	as long as short
Extended CRCL_24_5-USD	+0.0016%	1h	91.765	−0.049%	$1.2M	$5.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.896	+0.093%	$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
Arcus CRCL-USD	+0.0040%	1h	91.920	+0.120%	$93K	$272K	10x	as long as short
Lighter RH CRCL	+0.0048%	1h	91.818	+0.009%	$973K	$2.9M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.890	+0.087%	$907K	$510K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.730	−0.087%	$68.1M	$41.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.778	−0.035%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.790	−0.022%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.900	+0.098%	$1.0M	$5.2M	10x	as long as short
BloFin CRCL-USDT	+0.0059%	8h	92.050	+0.261%	$1.1M	$1.6M	20x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.820	+0.011%	$1.3M	$1.9M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0072%	8h	91.949	+0.152%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0074%	8h	91.830	+0.022%	$22.3M	$61.5M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.807	−0.003%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.790	−0.022%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.900	+0.098%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.760	−0.054%	$915	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.785	−0.027%	$4	—	10x	as long as short
RISEx CRCL/USDClong	+0.0107%	1h	91.810	long leg	$417K	$299K	10x
Paradex CRCL-USD-PERP	+0.0128%	8h	91.816	+0.006%	$422	$905	5x	as long as short
Phoenix CRCL	+0.0182%	1h	91.939	+0.141%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0280%	1h	91.810	0.000%	$3.0M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0295%	1h	91.790	−0.022%	$4K	$768K	10x	as long as short
Nado CRCL-PERP	+0.0370%	1h	91.735	−0.081%	$134K	$106K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.599%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0529%	4h	92.039	+0.249%	$51K	$277K	10x	as long as short