Funding you earn now, next payment 01:00 UTC+0.0231%/8h= +25.3% APRpaid last 24h +0.024%
Price spread now: Phoenix against Bybit+0.281%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.003%$0 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Phoenix is 0.281% dearer against Bybit than usual: you sell high and buy low: +$28 more if the spread goes back to zero (this spread has no 7-day history yet).
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.003% in total (about 0.2% a year). A funding rate is set anew for every payment. 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 | 91.770 | 0 | get 0.0000% / 8h | 6h 01m | $15.0M | $25.6M | 50x |
| Short | Phoenix CRCL | 92.028 | 0.0231 | get 0.0029% / 1h | 1m 12s | $27K | $92K | 10x |
Bybit CRCLUSDT
Phoenix CRCLFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $48.5
- Price spread: +0.281% → 0.000%
- $28.11
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $58.61
- Costs to cover
- 0.180%
- Break-even
- from the start
Slippage unknown: Bybit: live order book, 2 min ago; Phoenix: no order-book sample. Net counts fees only.
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, 2 min ago | 0.54 bp | 9.3 bp −$9 | 14.7 bp −$147 | doesn't fit | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
CRCL on 33 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 | −0.0971% | 8h | 91.870 | +0.109% | $15.9M | $34.5M | 25x | as long as short |
| Vest CRCL-USD-PERP | −0.0065% | 1h | 91.620 | −0.163% | — | $40K | 25x | as long as short |
| Gate CRCL_USDT | −0.0057% | 8h | 91.790 | +0.022% | $7.1M | $27.0M | 50x | as long as short |
| Coinbase International CRCL-PERP-INTX | −0.0008% | 1h | 91.840 | +0.076% | $906K | $552K | 10x | as long as short |
| Bybit CRCLUSDTlong | 0.0000% | 8h | 91.770 | long leg | $15.0M | $25.6M | 50x | |
| RISEx CRCL/USDC | 0.0000% | 1h | 91.877 | +0.116% | $420K | $297K | 10x | as long as short |
| Variational Omni CRCL | 0.0000% | 8h | 91.989 | +0.239% | $2.4M | $3.2M | — | as long as short |
| GRVT CRCL_USDT_Perp | 0.0000% | 8h | 91.980 | +0.229% | $63K | $1.1M | 10x | as long as short |
| Phemex CRCLUSDT | 0.0000% | 4h | 91.810 | +0.044% | $1.0M | $49K | 10x | as long as short |
| Aftermath Perps CRCLUSD | +0.0023% | 1h | 91.876 | +0.115% | $2K | $23K | 5x | as long as short |
Bitget CRCLUSDT
Vest CRCL-USD-PERP
Gate CRCL_USDT
Coinbase International CRCL-PERP-INTX
RISEx CRCL/USDC
Variational Omni CRCL
GRVT CRCL_USDT_Perp
Phemex CRCLUSDT
Aftermath Perps CRCLUSDShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH CRCL | +0.0032% | 1h | 91.777 | +0.008% | $972K | $2.9M | 10x | as long as short |
| Extended CRCL_24_5-USD | +0.0040% | 1h | 91.725 | −0.049% | $1.1M | $5.7M | 10x | as long as short |
| Arcus CRCL-USD | +0.0040% | 1h | 91.920 | +0.163% | $93K | $269K | 10x | as long as short |
| Binance CRCLUSDT | +0.0043% | 8h | 91.737 | −0.036% | $104.5M | $387.4M | 50x | as long as short |
| OKX CRCL-USDT-SWAP | +0.0044% | 8h | 91.780 | +0.011% | $21.7M | $58.9M | 50x | as long as short |
| tradeXYZ xyz:CRCL | +0.0050% | 1h | 91.732 | −0.041% | $68.8M | $41.1M | 10x | as long as short |
| Polymarket Perps CRCL-USD | +0.0050% | 1h | 91.757 | −0.014% | $355K | $1.1M | 10x | as long as short |
| SoDEX CRCL-USD | +0.0050% | 1h | 91.760 | −0.011% | $46K | $3K | 10x | as long as short |
| Ondo Perps CRCL-USD.P | +0.0050% | 1h | 91.750 | −0.022% | $1.0M | $5.3M | 10x | as long as short |
| Aster CRCLUSDT | +0.0052% | 8h | 91.792 | +0.024% | $1.1M | $4.9M | 20x | as long as short |
| QFEX CRCL-USD | +0.0057% | 1h | 91.840 | +0.076% | $1.3M | $2.3M | 10x | as long as short |
| Paradex CRCL-USD-PERP | +0.0072% | 8h | 91.923 | +0.167% | $754 | $740 | 5x | as long as short |
| Pacifica CRCL | +0.0100% | 1h | 91.904 | +0.146% | $133K | $158K | 10x | as long as short |
| KuCoin CRCLUSDTM | +0.0100% | 8h | 91.850 | +0.087% | $2.9M | $1.9M | 20x | as long as short |
| ApeX Omni CRCLUSDT | +0.0100% | 1h | 91.910 | +0.153% | $68K | $4K | 50x | as long as short |
| Orderly PERP_CRCL_USDC_mythos | +0.0100% | 8h | 91.740 | −0.033% | $915 | $3K | 10x | as long as short |
| Aevo CRCL-PERP | +0.0104% | 1h | 91.737 | −0.036% | $4 | — | 10x | as long as short |
| Nado CRCL-PERP | +0.0170% | 1h | 91.743 | −0.030% | $131K | $104K | 3x | as long as short |
| Lighter CRCL | +0.0208% | 1h | 91.793 | +0.025% | $3.0M | $2.4M | 10x | as long as short |
| Phoenix CRCLshort | +0.0231% | 1h | 92.028 | +0.281% | $27K | $92K | 10x | |
| Deribit CRCL_USDC-PERPETUAL | +0.0404% | 1h | 91.760 | −0.011% | $4K | $769K | 10x | as long as short |
| Injective CRCL/USDC PERP | +0.0440% | 1h | 92.370 | +0.654% | $5K | $19K | 30x | as long as short |
| edgeX CRCLUSDC | +0.0786% | 4h | 91.980 | +0.229% | $23K | $268K | 10x | as long as short |
Lighter RH CRCL
Extended CRCL_24_5-USD
Arcus CRCL-USD
Binance CRCLUSDT
OKX CRCL-USDT-SWAP
tradeXYZ xyz:CRCL
Polymarket Perps CRCL-USD
SoDEX CRCL-USD
Ondo Perps CRCL-USD.P
Aster CRCLUSDT
QFEX CRCL-USD
Paradex CRCL-USD-PERP
Pacifica CRCL
KuCoin CRCLUSDTM
ApeX Omni CRCLUSDT
Orderly PERP_CRCL_USDC_mythos
Aevo CRCL-PERP
Nado CRCL-PERP
Lighter CRCL
Deribit CRCL_USDC-PERPETUAL
Injective CRCL/USDC PERP
edgeX CRCLUSDC