CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0022%/8h= −2.4% APRnext payment −$0.03 per $10,000 · paid last 24h −0.004%

Price spread now: Ondo Perps against Coinbase International−0.099%7-day average −0.061% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.190%−$19 on $10k

Price spread, last 4 days (all we have)+0.055%+$5 · spread now −0.099%, 7d avg −0.061%

Together, before fees−0.135%+ Points / potential airdropOndo Perps: Active · farm board−$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Ondo Perps is 0.038% cheaper against Coinbase International than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.061%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International CRCL-PERP-INTX	91.180	0.0072	pay 0.0009% / 1h	30m 21s	$913K	$529K	10x
Short	Ondo Perps CRCL-USD.P	91.090	0.0050	get 0.0006% / 1h	30m 21s	$1.0M	$5.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.099%Rate

Funding earned: −$4.54
Price spread: −0.099% → −0.061%: −$3.76
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$23.3
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 18 min ago; Ondo Perps: 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 Coinbase International live order book, 18 min ago	4.92 bp	10.0 bp −$10	15.1 bp −$151	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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 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	−0.0890%	8h	91.260	+0.088%	$16.7M	$36.3M	25x	as long as short
Vest CRCL-USD-PERP	−0.0072%	1h	90.880	−0.329%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.180	0.000%	$14.5M	$26.9M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.210	+0.033%	$7.6M	$27.3M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.161	−0.021%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.180	0.000%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0011%	8h	91.190	+0.011%	$1.0M	$5.1M	20x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	91.165	−0.016%	$1.1M	$5.6M	10x	as long as short
Binance CRCLUSDT	+0.0024%	8h	91.200	+0.021%	$103.7M	$395.0M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.196	+0.018%	$971K	$2.9M	10x	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	91.190	+0.011%	$93K	$291K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	91.194	+0.016%	$2K	$26K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.110	−0.077%	$68.1M	$43.3M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.160	−0.022%	$382K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.166	−0.015%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.Pshort	+0.0050%	1h	91.090	−0.099%	$1.0M	$5.1M	10x
QFEX CRCL-USD	+0.0054%	1h	91.160	−0.022%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTXlong	+0.0072%	1h	91.180	long leg	$913K	$529K	10x
Paradex CRCL-USD-PERP	+0.0089%	8h	91.151	−0.032%	$419	$905	5x	as long as short
BloFin CRCL-USDT	+0.0097%	8h	91.230	+0.055%	$1.1M	$1.6M	20x	as long as short
Pacifica CRCL	+0.0100%	1h	91.150	−0.033%	$133K	$162K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.190	+0.011%	$2.7M	$1.8M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0100%	8h	91.150	−0.033%	$62K	$1.1M	10x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.170	−0.011%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.170	−0.011%	$909	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.154	−0.028%	$4	—	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0112%	8h	91.220	+0.044%	$22.1M	$61.9M	50x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	91.180	0.000%	$415K	$294K	10x	as long as short
Phoenix CRCL	+0.0210%	1h	91.110	−0.077%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0224%	1h	91.191	+0.012%	$2.9M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0303%	1h	91.115	−0.072%	$133K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.040	+0.943%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0518%	1h	91.170	−0.011%	$4K	$768K	10x	as long as short
edgeX CRCLUSDC	+0.0917%	4h	91.164	−0.018%	$52K	$278K	10x	as long as short