CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0122%/8h= +13.4% APRnext payment +$0.15 per $10,000 · paid last 24h +0.113%

Price spread now: Deribit against Coinbase International+0.032%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$340.337% of the position

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.060%+$6 on $10k

Price spread, last 4 days (all we have)−0.040%−$4 · spread now +0.032%, 7d avg +0.037%

Together, before fees+0.021%+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.037%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International CRCL-PERP-INTX	92.570	−0.0048	get 0.0006% / 1h	28m 04s	$866K	$745K	10x
Short	Deribit CRCL_USDC-PERPETUAL	92.600	0.0074	get 0.0009% / 1h	28m 04s	$5K	$415K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Coinbase International. 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 Coinbase InternationalbpFee DeribitbpOrdersPrice spread, now +0.032%Rate

Funding earned: $25.64
Price spread: +0.032% → +0.037%: −$0.47
Slippage, 4 orders: −$16.68
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$8.51
Costs to cover: 0.337%
Break-even: 9.3 days

Slippage from Coinbase International: live order book, 18 min ago; Deribit: live order book, 19 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 Coinbase International live order book, 18 min ago	2.15 bp	7.2 bp −$7	14.7 bp −$147	doesn't fit	doesn't fit
Sell Deribit live order book, 19 min ago	5.91 bp	9.4 bp −$9	11.5 bp −$115	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-INTXlong	−0.0048%	1h	92.570	long leg	$866K	$745K	10x
Bybit CRCLUSDT	0.0000%	8h	92.630	+0.065%	$15.0M	$25.1M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.650	+0.086%	$18.5M	$33.5M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.580	+0.011%	$1.0M	$45K	10x	as long as short
Vest CRCL-USD-PERP	+0.0014%	1h	92.440	−0.140%	—	$30K	25x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.635	+0.070%	$999K	$2.5M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	92.591	+0.022%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.564	−0.006%	$67.6M	$39.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.582	+0.013%	$329K	$951K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.576	+0.006%	$46K	$3K	10x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.480	−0.097%	$999K	$3.8M	10x	as long as short
QFEX CRCL-USD	+0.0055%	1h	92.600	+0.032%	$1.3M	$1.6M	10x	as long as short
Injective CRCL/USDC PERP	+0.0072%	1h	92.090	−0.519%	$38K	$172K	30x	as long as short
Deribit CRCL_USDC-PERPETUALshort	+0.0074%	1h	92.600	+0.032%	$5K	$415K	10x
Gate CRCL_USDT	+0.0081%	8h	92.670	+0.108%	$7.5M	$25.5M	50x	as long as short
Paradex CRCL-USD-PERP	+0.0092%	8h	92.571	+0.001%	$426	$477	5x	as long as short
Pacifica CRCL	+0.0100%	1h	92.570	0.000%	$139K	$139K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.600	+0.032%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.570	0.000%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.600	+0.032%	$923	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.605	+0.038%	$4	—	10x	as long as short
Phoenix CRCL	+0.0197%	1h	92.540	−0.032%	$27K	$66K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	92.540	−0.032%	$93K	$208K	10x	as long as short
Variational Omni CRCL	+0.0256%	8h	92.573	+0.004%	$2.5M	$3.2M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0276%	8h	92.610	+0.043%	$22.7M	$56.6M	50x	as long as short
Nado CRCL-PERP	+0.0293%	1h	92.566	−0.005%	$154K	$94K	3x	as long as short
Lighter CRCL	+0.0296%	1h	92.642	+0.078%	$3.0M	$2.1M	10x	as long as short
Binance CRCLUSDT	+0.0316%	8h	92.610	+0.043%	$106.7M	$350.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0320%	1h	92.579	+0.010%	$1.1M	$4.0M	10x	as long as short
Aster CRCLUSDT	+0.0323%	8h	92.635	+0.071%	$1.1M	$4.5M	20x	as long as short
BloFin CRCL-USDT	+0.0440%	8h	92.640	+0.076%	$1.1M	$1.7M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0482%	8h	92.620	+0.054%	$68K	$979K	10x	as long as short
RISEx CRCL/USDC	+0.0528%	1h	92.601	+0.034%	$415K	$225K	10x	as long as short
edgeX CRCLUSDC	+0.0621%	4h	92.571	+0.001%	$53K	$270K	10x	as long as short