CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC−0.0288%/8h= −31.5% APRnext payment −$2.88 per $10,000 · paid last 24h +0.022%

Price spread now: Bitget against Bybit−0.022%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$400.396% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.090%+$9 on $10k

Price spread, last 7 days+0.041%+$4 · spread now −0.022%, 7d avg 0.000%

Together, before fees+0.130%+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Bitget is 0.022% cheaper against Bybit than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of 0.000%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.090%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.090% in total (about 4.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.88 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	Bybit CRCLUSDT	91.280	0	get 0.0000% / 8h	7h 55m	$14.8M	$26.5M	50x
Short	Bitget CRCLUSDT	91.260	−0.0288	pay 0.0288% / 8h	7h 55m	$17.3M	$36.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Bybit. 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 BybitbpFee BitgetbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$60.48
Price spread: −0.022% → 0.000%: −$2.22
Slippage, 4 orders: −$16.62
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$102.32
Costs to cover: 0.396%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Bitget: live order book, 3 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 Bybit live order book, 3 min ago	0.55 bp	10.5 bp −$11	29.3 bp −$293	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	1.64 bp	9.4 bp −$9	14.4 bp −$144	45.5 bp −$4,552	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
GRVT CRCL_USDT_Perp	−0.1007%	8h	91.321	+0.044%	$70K	$1.1M	10x	as long as short
Bitget CRCLUSDTshort	−0.0288%	8h	91.260	−0.022%	$17.3M	$36.7M	25x
Vest CRCL-USD-PERP	−0.0088%	1h	91.250	−0.033%	—	$31K	25x	as long as short
tradeXYZ xyz:CRCL	−0.0053%	1h	91.223	−0.062%	$67.3M	$44.4M	10x	as long as short
Bybit CRCLUSDTlong	0.0000%	8h	91.280	long leg	$14.8M	$26.5M	50x
Gate CRCL_USDT	0.0000%	8h	91.320	+0.044%	$7.8M	$26.2M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.500	+0.241%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.291	+0.012%	$983K	$2.4M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	91.360	+0.088%	$874K	$502K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.344	+0.070%	$2K	$29K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus CRCL-USD	+0.0040%	1h	91.280	0.000%	$95K	$294K	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.426	+0.160%	$378K	$1.3M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.450	+0.186%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.430	+0.164%	$1.1M	$4.8M	10x	as long as short
QFEX CRCL-USD	+0.0065%	1h	91.240	−0.044%	$1.3M	$1.7M	10x	as long as short
Lighter CRCL	+0.0080%	1h	91.328	+0.053%	$2.9M	$2.1M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.260	−0.022%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.270	−0.011%	$2.6M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.400	+0.131%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.480	+0.219%	$912	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.445	+0.181%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0111%	1h	91.494	+0.234%	$134K	$109K	3x	as long as short
Variational Omni CRCL	+0.0147%	8h	91.470	+0.208%	$2.4M	$3.3M	—	as long as short
Paradex CRCL-USD-PERP	+0.0149%	8h	91.274	−0.007%	$420	$905	5x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0188%	1h	91.450	+0.186%	$5K	$769K	10x	as long as short
Aster CRCLUSDT	+0.0207%	8h	91.332	+0.057%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0223%	8h	91.284	+0.004%	$104.9M	$389.0M	50x	as long as short
Extended CRCL_24_5-USD	+0.0224%	1h	91.264	−0.017%	$1.0M	$5.0M	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.541	+0.286%	$27K	$66K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0288%	8h	91.330	+0.055%	$22.2M	$61.8M	50x	as long as short
BloFin CRCL-USDT	+0.0340%	8h	91.570	+0.318%	$1.1M	$1.7M	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.960	+0.745%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0501%	1h	91.320	+0.044%	$412K	$259K	10x	as long as short
edgeX CRCLUSDC	+0.0896%	4h	91.303	+0.026%	$52K	$269K	10x	as long as short