CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0017%/8h= +1.8% APRnext payment +$0.02 per $10,000 · paid last 24h −0.064%

Price spread now: QFEX against Arcus−0.206%7-day average +0.048% · 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−$61as in the Price arb table

costs, in and out, $10k−$360.355% of the position

Long on Arcus Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.091%−$9 on $10k

Price spread, last 4 days (all we have)+0.264%+$26 · spread now −0.206%, 7d avg +0.048%

Together, before fees+0.173%+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.254% cheaper against Arcus than usual: you would sell low and buy high (spread −0.206% now, against its 7-day average of +0.048%). If the spread goes back, that is −$25 on $10k: about 51 days of funding at the current rate (+$1 a day). Mind the row above: over the last 3 days funding on this pair cost −0.091%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus CRCL-USD	92.230	0.0040	pay 0.0005% / 1h	45m 43s	$94K	$272K	10x
Short	QFEX CRCL-USD	92.040	0.0057	get 0.0007% / 1h	45m 43s	$1.3M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.206%Rate

Funding earned: $3.5
Price spread: −0.206% → +0.048%: −$25.36
Slippage, 4 orders: −$21.04
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$57.4
Costs to cover: 0.355%
Break-even: 121.7 days

Slippage from Arcus: live order book, 23 min ago; QFEX: live order book, 1 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, 23 min ago	3.19 bp	11.0 bp −$11	13.9 bp −$139	doesn't fit	doesn't fit
Sell QFEX live order book, 1 min ago	2.17 bp	7.2 bp −$7	7.6 bp −$76	14.9 bp −$1,494	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
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.840	−0.423%	$919K	$581K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.070	−0.173%	$15.1M	$25.6M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.037	−0.209%	$420K	$300K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.120	−0.119%	$7.2M	$26.0M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.100	−0.141%	$16.4M	$34.9M	25x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	92.668	+0.475%	$61K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.020	−0.228%	$1.0M	$49K	10x	as long as short
Variational Omni CRCL	+0.0014%	8h	91.991	−0.259%	$2.5M	$3.2M	—	as long as short
Vest CRCL-USD-PERP	+0.0024%	1h	91.790	−0.477%	—	$38K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0031%	1h	92.535	+0.331%	$2K	$22K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	92.055	−0.190%	$971K	$2.9M	10x	as long as short
edgeX CRCLUSDC	+0.0036%	4h	92.112	−0.128%	$23K	$268K	10x	as long as short
Arcus CRCL-USDlong	+0.0040%	1h	92.230	long leg	$94K	$272K	10x
tradeXYZ xyz:CRCL	+0.0050%	1h	91.950	−0.304%	$69.5M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.992	−0.258%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.032	−0.215%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.910	−0.347%	$998K	$5.5M	10x	as long as short
QFEX CRCL-USDshort	+0.0057%	1h	92.040	−0.206%	$1.3M	$2.4M	10x
Paradex CRCL-USD-PERP	+0.0088%	8h	92.011	−0.237%	$754	$740	5x	as long as short
Aster CRCLUSDT	+0.0094%	8h	92.020	−0.228%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0095%	8h	92.050	−0.195%	$21.8M	$59.7M	50x	as long as short
Extended CRCL_24_5-USD	+0.0096%	1h	92.033	−0.214%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0097%	8h	92.050	−0.195%	$105.7M	$390.6M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	92.036	−0.210%	$129K	$154K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.070	−0.173%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.480	+0.271%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.010	−0.239%	$917	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.009	−0.240%	$4	—	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0185%	1h	92.020	−0.228%	$4K	$769K	10x	as long as short
BloFin CRCL-USDT	+0.0222%	8h	92.330	+0.108%	$1.1M	$1.1M	20x	as long as short
Phoenix CRCL	+0.0231%	1h	92.695	+0.504%	$27K	$92K	10x	as long as short
Nado CRCL-PERP	+0.0241%	1h	91.968	−0.284%	$152K	$89K	3x	as long as short
Lighter CRCL	+0.0248%	1h	92.044	−0.202%	$3.0M	$2.3M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	93.910	+1.822%	$5K	$19K	30x	as long as short