CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0063%/8h= −6.9% APRnext payment −$0.08 per $10,000 · paid last 24h −0.066%

Price spread now: QFEX against RISEx+0.055%7-day average −0.041% · 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−$14as in the Price arb table

costs, in and out, $10k−$240.236% of the position

Long on RISEx Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.286%−$29 on $10k

Price spread, last 4 days (all we have)−0.132%−$13 · spread now +0.055%, 7d avg −0.041%

Together, before fees−0.418%−$42 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.096% dearer against RISEx than usual: you sell high and buy low (spread +0.055% now, against its 7-day average of −0.041%): +$10 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.1 days. At the pace of the last 4 days (−0.286% in total) that is about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx CRCL/USDC	91.540	0.0117	pay 0.0015% / 1h	9m 53s	$417K	$283K	10x
Short	QFEX CRCL-USD	91.590	0.0054	get 0.0007% / 1h	9m 53s	$1.3M	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.055%Rate

Funding earned: −$13.21
Price spread: +0.055% → −0.041%: $9.6
Slippage, 4 orders: −$7.64
Fee RISEx: 3 bp × 2 orders: −$6
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$27.26
Costs to cover: 0.236%
Break-even: never at this rate

Slippage from RISEx: live order book, 38 min ago; QFEX: 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, 38 min ago	2.18 bp	5.2 bp −$5	6.9 bp −$69	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	1.64 bp	6.6 bp −$7	6.8 bp −$68	14.1 bp −$1,407	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	−0.0957%	8h	91.720	+0.197%	$17.2M	$36.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0080%	1h	91.220	−0.350%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.660	+0.131%	$14.7M	$26.8M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.660	+0.131%	$7.6M	$27.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.539	−0.001%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.660	+0.131%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.618	+0.085%	$976K	$2.9M	10x	as long as short
Aster CRCLUSDT	+0.0033%	8h	91.545	+0.006%	$1.0M	$5.1M	20x	as long as short
Aftermath Perps CRCLUSD	+0.0036%	1h	91.318	−0.243%	$2K	$27K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.360	−0.197%	$93K	$289K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CRCLUSDT	+0.0048%	8h	91.658	+0.129%	$104.4M	$397.1M	50x	as long as short
Extended CRCL_24_5-USD	+0.0048%	1h	91.633	+0.101%	$1.0M	$5.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.490	−0.055%	$383K	$1.3M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.564	+0.026%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.490	−0.055%	$1.1M	$5.2M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0053%	1h	91.586	+0.050%	$68.1M	$43.9M	10x	as long as short
QFEX CRCL-USDshort	+0.0054%	1h	91.590	+0.055%	$1.3M	$1.8M	10x
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	91.490	−0.055%	$891K	$605K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.560	+0.022%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.560	+0.022%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.220	−0.350%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.630	+0.098%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.660	+0.131%	$4	—	10x	as long as short
RISEx CRCL/USDClong	+0.0117%	1h	91.540	long leg	$417K	$283K	10x
GRVT CRCL_USDT_Perp	+0.0125%	8h	91.320	−0.241%	$65K	$1.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0127%	8h	91.557	+0.018%	$421	$905	5x	as long as short
OKX CRCL-USDT-SWAP	+0.0144%	8h	91.690	+0.164%	$22.2M	$62.8M	50x	as long as short
BloFin CRCL-USDT	+0.0166%	8h	91.560	+0.022%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0210%	1h	91.229	−0.340%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0248%	1h	91.622	+0.090%	$2.9M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0326%	1h	91.486	−0.059%	$133K	$108K	3x	as long as short
edgeX CRCLUSDC	+0.0328%	4h	91.321	−0.239%	$52K	$276K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.770	+0.251%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0733%	1h	91.660	+0.131%	$4K	$768K	10x	as long as short