CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h −0.008%

Price spread now: Lighter RH against Coinbase International−0.133%7-day average +0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$270.272% of the position

Long on Coinbase International Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.194%−$19 on $10k

Price spread, last 4 days (all we have)+0.201%+$20 · spread now −0.133%, 7d avg +0.060%

Together, before fees+0.008%+ Points / potential airdropLighter RH: Points live · farm board+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter RH is 0.193% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.133% now, against its 7-day average of +0.060%). If the spread goes back, that is −$19 on $10k: about 6.7 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.194%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International CRCL-PERP-INTX	91.470	0.0056	pay 0.0007% / 1h	46m 20s	$891K	$605K	10x
Short	Lighter RH CRCL	91.348	0.0152	get 0.0019% / 1h	46m 20s	$976K	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.133%Rate

Funding earned: $20.16
Price spread: −0.133% → +0.060%: −$19.35
Slippage, 4 orders: −$17.16
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$26.34
Costs to cover: 0.272%
Break-even: 16.1 days

Slippage from Coinbase International: live order book, 62 min ago; Lighter RH: 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 Coinbase International live order book, 62 min ago	4.92 bp	10.0 bp −$10	15.1 bp −$151	doesn't fit	doesn't fit
Sell Lighter RH live order book, 2 min ago	3.23 bp	3.4 bp −$3	4.8 bp −$48	doesn't fit	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
Bitget CRCLUSDT	−0.0727%	8h	91.380	−0.098%	$17.4M	$37.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0084%	1h	91.050	−0.459%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.320	−0.164%	$14.7M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.380	−0.098%	$7.7M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.430	−0.044%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.330	−0.153%	$1.0M	$48K	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.360	−0.120%	$93K	$289K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	91.305	−0.181%	$2K	$27K	5x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.298	−0.188%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.290	−0.197%	$1.1M	$5.2M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International CRCL-PERP-INTXlong	+0.0056%	1h	91.470	long leg	$891K	$605K	10x
QFEX CRCL-USD	+0.0068%	1h	91.340	−0.142%	$1.3M	$1.8M	10x	as long as short
Aster CRCLUSDT	+0.0074%	8h	91.346	−0.136%	$1.0M	$5.1M	20x	as long as short
Binance CRCLUSDT	+0.0087%	8h	91.320	−0.164%	$104.4M	$397.4M	50x	as long as short
Extended CRCL_24_5-USD	+0.0088%	1h	91.319	−0.165%	$1.0M	$5.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.290	−0.197%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.340	−0.142%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.290	−0.197%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.310	−0.175%	$910	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.318	−0.166%	$4	—	10x	as long as short
tradeXYZ xyz:CRCL	+0.0151%	1h	91.265	−0.224%	$67.6M	$44.4M	10x	as long as short
Lighter RH CRCLshort	+0.0152%	1h	91.348	−0.133%	$976K	$2.7M	10x
Paradex CRCL-USD-PERP	+0.0173%	8h	91.295	−0.191%	$420	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0175%	8h	91.444	−0.028%	$65K	$1.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0175%	1h	91.304	−0.181%	$382K	$1.3M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0184%	8h	91.340	−0.142%	$22.2M	$62.6M	50x	as long as short
BloFin CRCL-USDT	+0.0206%	8h	91.300	−0.186%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0245%	1h	91.384	−0.094%	$27K	$82K	10x	as long as short
RISEx CRCL/USDC	+0.0271%	1h	91.335	−0.148%	$416K	$268K	10x	as long as short
edgeX CRCLUSDC	+0.0321%	4h	91.441	−0.032%	$52K	$278K	10x	as long as short
Lighter CRCL	+0.0328%	1h	91.351	−0.130%	$2.9M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.930	+0.503%	$5K	$19K	30x	as long as short
Nado CRCL-PERP	+0.0449%	1h	91.245	−0.246%	$134K	$109K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0627%	1h	91.340	−0.142%	$5K	$769K	10x	as long as short