CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0262%/8h= +28.7% APRnext payment +$0.33 per $10,000 · paid last 24h −0.001%

Price spread now: Nado against Arcus−0.105%7-day average +0.040% · 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−$52as in the Price arb table

costs, in and out, $10k−$380.378% of the position

Long on Arcus Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.044%+$4 on $10k

Price spread, last 4 days (all we have)+0.196%+$20 · spread now −0.105%, 7d avg +0.040%

Together, before fees+0.241%+ Points / potential airdropNado: Active · farm board+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.145% cheaper against Arcus than usual: you would sell low and buy high (spread −0.105% now, against its 7-day average of +0.040%). If the spread goes back, that is −$14 on $10k: about 44 hours of funding at the current rate (+$8 a day). At the pace of the last 3 days (+0.044% in total) that is about 11 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.044% in total (about 4.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.33 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus CRCL-USD	91.210	0.0040	pay 0.0005% / 1h	30m 56s	$93K	$291K	10x
Short	Nado CRCL-PERP	91.115	0.0303	get 0.0038% / 1h	30m 56s	$133K	$108K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.105%Rate

Funding earned: $55.08
Price spread: −0.105% → +0.040%: −$14.5
Slippage, 4 orders: −$26.34
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $2.74
Costs to cover: 0.378%
Break-even: 6.7 days

Slippage from Arcus: live order book, 18 min ago; Nado: live order book, 16 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, 18 min ago	3.82 bp	12.9 bp −$13	14.9 bp −$149	doesn't fit	doesn't fit
Sell Nado live order book, 16 min ago	3.28 bp	8.8 bp −$9	28.2 bp −$282	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	−0.0880%	8h	91.250	+0.044%	$16.7M	$36.3M	25x	as long as short
Vest CRCL-USD-PERP	−0.0071%	1h	90.900	−0.340%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.170	−0.044%	$14.5M	$26.9M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.230	+0.022%	$7.6M	$27.3M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.161	−0.054%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.170	−0.044%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0011%	8h	91.185	−0.027%	$1.0M	$5.1M	20x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	91.156	−0.059%	$1.1M	$5.6M	10x	as long as short
Binance CRCLUSDT	+0.0024%	8h	91.186	−0.027%	$103.7M	$395.0M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.225	+0.016%	$972K	$2.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus CRCL-USDlong	+0.0040%	1h	91.210	long leg	$93K	$291K	10x
Aftermath Perps CRCLUSD	+0.0041%	1h	91.217	+0.008%	$2K	$26K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.109	−0.111%	$68.1M	$43.3M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.142	−0.075%	$382K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.163	−0.052%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.210	0.000%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	91.140	−0.077%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	91.180	−0.033%	$913K	$529K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0089%	8h	91.147	−0.069%	$419	$905	5x	as long as short
BloFin CRCL-USDT	+0.0097%	8h	91.230	+0.022%	$1.1M	$1.6M	20x	as long as short
Pacifica CRCL	+0.0100%	1h	91.162	−0.053%	$133K	$162K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.180	−0.033%	$2.7M	$1.8M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0100%	8h	91.150	−0.066%	$62K	$1.1M	10x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.170	−0.044%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.190	−0.022%	$909	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.165	−0.049%	$4	—	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0111%	8h	91.190	−0.022%	$22.1M	$61.9M	50x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	91.175	−0.038%	$415K	$294K	10x	as long as short
Phoenix CRCL	+0.0210%	1h	91.110	−0.110%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0224%	1h	91.219	+0.010%	$2.9M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0299%	1h	91.180	−0.033%	$4K	$768K	10x	as long as short
Nado CRCL-PERPshort	+0.0303%	1h	91.115	−0.105%	$133K	$108K	3x
Injective CRCL/USDC PERP	+0.0440%	1h	92.040	+0.910%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0917%	4h	91.164	−0.051%	$52K	$278K	10x	as long as short