Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.057%

Price spread now: Orderly against RISEx−0.010%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on RISEx Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), 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	92.160	0	get 0.0000% / 1h	9m 33s	$419K	$299K	10x
Short	Orderly PERP_CRCL_USDC_mythos	92.150	0.0100	get 0.0100% / 8h	4h 09m	$919	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.010%Rate

Funding earned: $21
Price spread: −0.010% → 0.000%: −$1.04
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Orderly: 3 bp × 2 orders: −$6
Net: $7.96
Costs to cover: 0.120%
Break-even: 4.3 days

Slippage unknown: RISEx: live order book, 49 min ago; Orderly: no order-book sample. Net counts fees only.

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, 49 min ago	1.09 bp	4.1 bp −$4	6.0 bp −$60	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0899%	8h	92.220	+0.066%	$16.6M	$35.2M	25x	as long as short
Vest CRCL-USD-PERP	−0.0069%	1h	91.910	−0.271%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	92.075	−0.092%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	92.132	−0.030%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	92.183	+0.025%	$105.0M	$390.0M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.180	+0.022%	$14.9M	$26.4M	50x	as long as short
RISEx CRCL/USDClong	0.0000%	1h	92.160	long leg	$419K	$299K	10x
Gate CRCL_USDT	0.0000%	8h	92.230	+0.076%	$7.3M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.128	−0.034%	$2.5M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.150	−0.010%	$1.0M	$49K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT CRCL_USDT_Perp	+0.0008%	8h	92.126	−0.037%	$64K	$1.1M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.990	−0.184%	$908K	$491K	10x	as long as short
QFEX CRCL-USD	+0.0028%	1h	92.160	0.000%	$1.3M	$2.0M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.176	+0.018%	$977K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0036%	1h	92.003	−0.170%	$2K	$25K	5x	as long as short
OKX CRCL-USDT-SWAP	+0.0037%	8h	92.180	+0.022%	$22.3M	$61.5M	50x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.040	−0.130%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.111	−0.053%	$68.6M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.130	−0.032%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.131	−0.031%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.000	−0.173%	$1.0M	$5.2M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.130	−0.032%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.070	−0.097%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.030	−0.141%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythosshort	+0.0100%	8h	92.150	−0.010%	$919	$2K	10x
Aevo CRCL-PERP	+0.0104%	1h	92.140	−0.021%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0114%	8h	92.140	−0.022%	$424	$905	5x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	92.100	−0.065%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	92.044	−0.125%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0216%	1h	92.176	+0.018%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0312%	1h	92.076	−0.091%	$131K	$104K	3x	as long as short
edgeX CRCLUSDC	+0.0342%	4h	92.128	−0.034%	$51K	$275K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.560	+0.434%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0728%	1h	92.150	−0.010%	$4K	$767K	10x	as long as short