CRCL

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	BackpackCRCL.US_USDC_PERP	68.150	+0.1347	pay 0.0168% / 1h	39m 34s	$294K	$425K	10x	Long Backpack
SHORT	Kraken FuturesPF_CRCLXUSD	68.049	−0.0317	pay 0.0040% / 1h	39m 34s	$1.3M	$5.7M	20x	Short Kraken Futures

Price gap−0.148%

Funding gap−0.1664% /8h

Both sides work against this direction now: funding costs $50 a day on $10k and the gap is 0.253% under its 7d average. Swap the legs.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding−$47−0.1664% /8h now · paid −0.471% over the last 7D

Price−$25spread −0.148% now, avg +0.105% → −0.253% if it goes back

Costs−$590.590% of $10k · taker + slippage, in and out

Result−$131−1.31%no points

The current funding rate is far below what this pair has been paying: over the last 7 days it paid −0.471% in total, about −0.0224%/8h on average.

Price and funding

1h · history

Entry / Exit

Price spread

Prices

Fundingper 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now−0.148%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

CRCL on 45 exchanges

lowest funding first

Before you open

1 ok · 4 to watch

Watch: Thin at this size18.3 / 13.3 bp
At $10k entering Backpack costs 18.3 bp, fee and slippage, 1.4× Kraken Futures’s.
Note: Margin at max leverage$1,000 + $500
Backpack 10x, Kraken Futures 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
OK: Same payment interval1h / 1h
Both legs pay at the same time.
Next 24h at the current rates, on $10k a leg: −$49.93Long Backpack: 24 payments, −$40.40; short Kraken Futures: 24 payments, −$9.52.
Watch: Gap narrower than usual−0.148% vs +0.105%
Less room for the price leg to pay you. If it goes back to average, the short loses.
Watch: Long leg is thinner$294K vs $1.3M OI
Backpack sets your exit cost. Check its book before closing.
Note: No points program—
Neither exchange runs points right now.
Watch: KYCBackpack Yes · Kraken Futures Yes
KYC (ID, face scan, residency and source of income) before any trading.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned−0.0224%/8h × 21 periods−$47.07

Price spread−0.148% → +0.105% (7d avg)−$25.29

Slippage, 4 orderslive order books−$39.03

Fee Backpack bp × 2 orders−$10.00

Fee Kraken Futures bp × 2 orders−$10.00

Net · 7 days · $10k−$131.39

Costs to cover0.590%Break-evennever at this rate

Slippage: Backpack: live order book, 42 min ago; Kraken Futures: live order book, 2 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGBackpack5.8318.3 bp−$18755.4 bp−$7,554doesn’t fitdoesn’t fit

SELL · SHORTKraken Futures0.7313.3 bp−$1369.3 bp−$693doesn’t fitdoesn’t fit

Closing costs about the same again.

CRCL news

posts that mention CRCL or Circle Internet Group, from every exchange

11-04 19:06	Ondo Perps	Other	Eligible perps markets for the Liquidity Pool: ▸ Stocks: NVDA, TSLA, META, AMD, INTC, MU, SNDK, COIN, MSTR, CRCL, SPCX ▸ Indices: US 500, US 100 ▸ ETFs: DRAM, SOXL ▸ Commodities: Gold, Silver, WTI ▸ Crypto: BTC, ETH Rewards are paid in USDC directly to your trading account within 48 hours of each week’s close. Trade Now → @OndoPerps on X ↗
11-04 16:01	Phoenix	Other	$13.9T of USDC moved onchain last quarter, up 49% from a year ago. Circle reported Q3 revenue of $865M this morning, up 17%. Trade $CRCL on Phoenix, 24/7. @PhoenixTrade on X ↗
11-03 16:43	Entropy	Listing	New Listing: Circle ($CRCL) at 15x Leverage. @entropyIO on X ↗
11-03 16:03	Entropy	Listing	new market io:CRCL ($CRCL) seen by our collector
11-03 12:30	OKX	Other	This week, $SHOP, $AMD, $CRCL & $QCOM report earnings after market close. Trade both names 24/7 with Tokenized Stocks, or take a long or short view with up to 10x leverage on X-Perps. Markets move. You do too. @okx on X ↗
11-03 11:10	Bulk	Other	STOCK SZN CONTINUES Trade $NVDA, $CRCL and $MSTR up to 10x leverage! >Fees are 55% off on all RWAs >This weeks gauntlet is stock szn >You get to tell your parents your an equities investor What are you waiting for? @bulktrade on X ↗