CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC−0.0375%/8h= −41.0% APRnext payment −$3.75 per $10,000 · paid last 24h −0.076%

Price spread now: Bitget against BloFin−0.188%65s7-day average +0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$430.430% of the position

Long on BloFin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.161%−$16 on $10k

Price spread, last 4 days (all we have)+0.214%+$21 · spread now −0.188%, 7d avg +0.041%

Together, before fees+0.053%+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Bitget is 0.230% cheaper against BloFin than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of +0.041%). Swap the legs. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.161% in total (about -8.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.75 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin CRCL-USDT	95.540	0.0375	pay 0.0375% / 8h	4h 50m	$1.1M	$1.8M	20x
Short	Bitget CRCLUSDT	95.360	0	get 0.0000% / 8h	4h 50m	$19.2M	$39.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against BloFin. 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 BloFinbpFee BitgetbpOrdersPrice spread, now −0.188%Rate

Funding earned: −$78.71
Price spread: −0.188% → +0.041%: −$22.97
Slippage, 4 orders: −$18.98
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$144.66
Costs to cover: 0.430%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Bitget: 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 BloFin live order book, 6 min ago	1.05 bp	11.8 bp −$12	20.0 bp −$200	26.9 bp −$2,688	doesn't fit
Sell Bitget live order book, 2 min ago	1.57 bp	11.0 bp −$11	18.6 bp −$186	doesn't fit	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	−0.0024%	1h	95.490	−0.052%	$871K	$805K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	95.390	−0.157%	$15.7M	$28.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	95.671	+0.137%	$425K	$228K	10x	as long as short
Bitget CRCLUSDTshort	0.0000%	8h	95.360	−0.188%	$19.2M	$39.3M	25x
Phemex CRCLUSDT	0.0000%	4h	95.320	−0.230%	$1.1M	$47K	10x	as long as short
QFEX CRCL-USD	+0.0014%	1h	95.610	+0.073%	$1.4M	$1.7M	10x	as long as short
Gate CRCL_USDT	+0.0028%	8h	95.510	−0.031%	$7.7M	$26.4M	50x	as long as short
Injective CRCL/USDC PERP	+0.0033%	1h	95.630	+0.094%	$39K	$172K	30x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	95.146	−0.413%	$2K	$29K	5x	as long as short
Lighter RH CRCL	+0.0040%	1h	95.389	−0.158%	$1.0M	$2.6M	10x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest CRCL-USD-PERP	+0.0046%	1h	95.690	+0.157%	—	$29K	25x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	95.601	+0.064%	$69.5M	$44.2M	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	95.470	−0.073%	$1.1M	$4.3M	10x	as long as short
Arcus CRCL-USD	+0.0057%	1h	95.620	+0.084%	$96K	$233K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	95.625	+0.089%	$142K	$149K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	95.380	−0.167%	$2.5M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	95.850	+0.324%	$98K	$26K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	95.440	−0.105%	$752	$2K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0103%	8h	95.600	+0.063%	$440	$477	5x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	95.562	+0.023%	$4	—	10x	as long as short
Phoenix CRCL	+0.0136%	1h	95.413	−0.133%	$28K	$94K	10x	as long as short
Variational Omni CRCL	+0.0157%	8h	95.650	+0.115%	$2.7M	$3.3M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0209%	8h	95.370	−0.178%	$23.6M	$67.0M	50x	as long as short
Extended CRCL_24_5-USD	+0.0256%	1h	95.467	−0.077%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0260%	8h	95.380	−0.167%	$111.9M	$392.1M	50x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0274%	1h	95.420	−0.126%	$5K	$415K	10x	as long as short
Aster CRCLUSDT	+0.0277%	8h	95.345	−0.204%	$1.2M	$4.7M	20x	as long as short
edgeX CRCLUSDC	+0.0287%	4h	95.658	+0.124%	$55K	$278K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0324%	8h	95.670	+0.136%	$66K	$1.0M	10x	as long as short
Nado CRCL-PERP	+0.0357%	1h	95.607	+0.071%	$153K	$93K	3x	as long as short
BloFin CRCL-USDTlong	+0.0375%	8h	95.540	long leg	$1.1M	$1.8M	20x
Polymarket Perps CRCL-USD	+0.0393%	1h	95.700	+0.167%	$284K	$1.1M	10x	as long as short
Lighter CRCL	+0.0424%	1h	95.521	−0.020%	$3.3M	$2.4M	10x	as long as short
SoDEX CRCL-USD	+0.2373%	1h	95.462	−0.082%	$48K	$3K	10x	as long as short