CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0227%/8h= +24.8% APRnext payment +$0.28 per $10,000 · paid last 24h +0.051%

Price spread now: Nado against Coinbase International+0.166%45s7-day average +0.025% · 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—prices read too far apart to compare

costs, in and out, $10k−$350.348% of the position

Long on Coinbase International Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.034%+$3 on $10k

Price spread, last 3 days (all we have)−0.141%−$14 · spread now +0.166%, 7d avg +0.025%

Together, before fees−0.107%+ Points / potential airdropNado: Active · farm board−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Nado is 0.141% dearer against Coinbase International than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.025%. The two prices were read 45 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 3 days it paid 0.034% in total (about 3.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.28 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	Coinbase International CRCL-PERP-INTX	91.840	−0.0008	get 0.0001% / 1h	42m 35s	$919K	$581K	10x
Short	Nado CRCL-PERP	91.992	0.0219	get 0.0027% / 1h	42m 35s	$152K	$89K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.166%Rate

Funding earned: $47.63
Price spread: +0.166% → +0.025%: $14.13
Slippage, 4 orders: −$17.8
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $26.97
Costs to cover: 0.348%
Break-even: 3.0 days

Slippage from Coinbase International: live order book, 26 min ago; Nado: live order book, 25 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, 26 min ago	1.06 bp	6.1 bp −$6	10.6 bp −$106	doesn't fit	doesn't fit
Sell Nado live order book, 25 min ago	1.60 bp	6.1 bp −$6	23.9 bp −$239	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	−0.0053%	8h	92.090	+0.272%	$16.4M	$35.0M	25x	as long as short
Coinbase International CRCL-PERP-INTXlong	−0.0008%	1h	91.840	long leg	$919K	$581K	10x
Bybit CRCLUSDT	0.0000%	8h	92.020	+0.196%	$15.1M	$25.7M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.995	+0.169%	$420K	$300K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.070	+0.250%	$7.2M	$26.1M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	92.081	+0.262%	$63K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.110	+0.294%	$1.0M	$49K	10x	as long as short
Variational Omni CRCL	+0.0014%	8h	91.991	+0.164%	$2.5M	$3.2M	—	as long as short
Vest CRCL-USD-PERP	+0.0016%	1h	91.830	−0.011%	—	$37K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0029%	1h	92.360	+0.566%	$2K	$22K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	92.020	+0.196%	$972K	$2.9M	10x	as long as short
edgeX CRCLUSDC	+0.0036%	4h	92.112	+0.296%	$23K	$268K	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.180	+0.370%	$94K	$272K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.968	+0.139%	$69.5M	$41.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.317	+0.519%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.202	+0.394%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.270	+0.468%	$998K	$5.5M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.980	+0.152%	$1.3M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0076%	1h	92.160	+0.348%	$4K	$769K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0086%	8h	92.010	+0.185%	$21.8M	$59.8M	50x	as long as short
Paradex CRCL-USD-PERP	+0.0087%	8h	91.989	+0.162%	$754	$740	5x	as long as short
Extended CRCL_24_5-USD	+0.0088%	1h	91.968	+0.139%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0090%	8h	91.990	+0.163%	$105.3M	$391.1M	50x	as long as short
Aster CRCLUSDT	+0.0094%	8h	92.039	+0.216%	$1.1M	$4.9M	20x	as long as short
Pacifica CRCL	+0.0100%	1h	92.018	+0.194%	$129K	$154K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.100	+0.283%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.900	+0.065%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.260	+0.457%	$920	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.230	+0.424%	$4	—	10x	as long as short
Nado CRCL-PERPshort	+0.0219%	1h	91.992	+0.166%	$152K	$89K	3x
BloFin CRCL-USDT	+0.0222%	8h	92.330	+0.534%	$1.1M	$1.1M	20x	as long as short
Phoenix CRCL	+0.0231%	1h	91.994	+0.168%	$27K	$92K	10x	as long as short
Lighter CRCL	+0.0232%	1h	92.038	+0.216%	$3.0M	$2.3M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	93.910	+2.254%	$5K	$19K	30x	as long as short