CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0114%/8h= +12.4% APRnext payment +$0.14 per $10,000 · paid last 24h +0.002%

Price spread now: Lighter against Arcus+0.074%7-day average +0.135% · 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−$26as in the Price arb table

costs, in and out, $10k−$200.204% of the position

Long on Arcus Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.057%+$6 on $10k

Price spread, last 4 days (all we have)+0.413%+$41 · spread now +0.074%, 7d avg +0.135%

Together, before fees+0.469%+ Points / potential airdropLighter: Season 3 · farm board+$47 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.061% cheaper against Arcus than usual: you would sell low and buy high (spread +0.074% now, against its 7-day average of +0.135%). If the spread goes back, that is −$6 on $10k: about 43 hours of funding at the current rate (+$3 a day). At the pace of the last 4 days (+0.057% in total) that is about 4.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus CRCL-USD	93.120	0.0214	pay 0.0027% / 1h	55m 10s	$94K	$214K	10x
Short	Lighter CRCL	93.189	0.0328	get 0.0041% / 1h	55m 10s	$3.0M	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Arcus. 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 ArcusbpFee LighterbpOrdersPrice spread, now +0.074%Rate

Funding earned: $23.87
Price spread: +0.074% → +0.135%: −$6.1
Slippage, 4 orders: −$15.85
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$2.59
Costs to cover: 0.204%
Break-even: 7.8 days

Slippage from Arcus: live order book, 56 min ago; Lighter: live order book, 5 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 Arcus live order book, 56 min ago	2.72 bp	8.9 bp −$9	12.0 bp −$120	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	1.56 bp	3.9 bp −$4	9.6 bp −$96	44.3 bp −$4,430	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
Coinbase International CRCL-PERP-INTX	−0.0048%	1h	92.950	−0.183%	$869K	$749K	10x	as long as short
Vest CRCL-USD-PERP	−0.0015%	1h	93.000	−0.129%	—	$30K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	93.160	+0.043%	$15.1M	$25.1M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	93.200	+0.086%	$18.4M	$33.4M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	93.150	+0.032%	$1.0M	$45K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	93.154	+0.037%	$1.0M	$2.5M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	93.028	−0.099%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	93.100	−0.021%	$68.0M	$40.3M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	93.134	+0.015%	$383K	$847K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	93.124	+0.004%	$47K	$3K	10x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	93.050	−0.075%	$1.0M	$3.8M	10x	as long as short
QFEX CRCL-USD	+0.0055%	1h	93.100	−0.021%	$1.3M	$1.6M	10x	as long as short
Injective CRCL/USDC PERP	+0.0072%	1h	92.090	−1.106%	$38K	$172K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0072%	1h	93.120	0.000%	$5K	$419K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	93.082	−0.040%	$139K	$141K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	93.110	−0.011%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	93.070	−0.054%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	93.140	+0.021%	$929	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	93.162	+0.045%	$4	—	10x	as long as short
Gate CRCL_USDT	+0.0113%	8h	93.200	+0.086%	$7.5M	$25.2M	50x	as long as short
Paradex CRCL-USD-PERP	+0.0125%	8h	93.113	−0.007%	$428	$477	5x	as long as short
Phoenix CRCL	+0.0199%	1h	93.194	+0.079%	$28K	$66K	10x	as long as short
Arcus CRCL-USDlong	+0.0214%	1h	93.120	long leg	$94K	$214K	10x
Nado CRCL-PERP	+0.0276%	1h	93.096	−0.026%	$155K	$94K	3x	as long as short
Variational Omni CRCL	+0.0312%	8h	93.131	+0.012%	$2.5M	$3.3M	—	as long as short
Lighter CRCLshort	+0.0328%	1h	93.189	+0.074%	$3.0M	$2.1M	10x
OKX CRCL-USDT-SWAP	+0.0331%	8h	93.160	+0.043%	$23.0M	$57.1M	50x	as long as short
Aster CRCLUSDT	+0.0386%	8h	93.140	+0.021%	$1.1M	$4.5M	20x	as long as short
Extended CRCL_24_5-USD	+0.0392%	1h	93.122	+0.002%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0395%	8h	93.140	+0.021%	$107.7M	$352.7M	50x	as long as short
BloFin CRCL-USDT	+0.0515%	8h	93.160	+0.043%	$1.1M	$1.7M	20x	as long as short
RISEx CRCL/USDC	+0.0528%	1h	93.160	+0.043%	$418K	$238K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0813%	8h	93.170	+0.054%	$61K	$1.0M	10x	as long as short
edgeX CRCLUSDC	+0.0973%	4h	93.108	−0.013%	$53K	$268K	10x	as long as short