CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0146%/8h= −16.0% APRnext payment −$0.18 per $10,000 · paid last 24h −0.027%

Price spread now: Arcus against Deribit+0.033%7-day average −0.047% · 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−$420.415% of the position

Long on Deribit Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.068%−$7 on $10k

Price spread, last 3 days (all we have)−0.078%−$8 · spread now +0.033%, 7d avg −0.047%

Together, before fees−0.146%−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.080% dearer against Deribit than usual: you sell high and buy low (spread +0.033% now, against its 7-day average of −0.047%): +$8 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 44 hours. At the pace of the last 4 days (−0.068% in total) that is about 4.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit CRCL_USDC-PERPETUAL	91.790	0.0186	pay 0.0023% / 1h	59m 07s	$4K	$768K	10x
Short	Arcus CRCL-USD	91.820	0.0040	get 0.0005% / 1h	59m 07s	$93K	$269K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Deribit. 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 DeribitbpFee ArcusbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$30.6
Price spread: +0.033% → −0.047%: $7.98
Slippage, 4 orders: −$30.04
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$64.15
Costs to cover: 0.415%
Break-even: never at this rate

Slippage from Deribit: live order book, 5 min ago; Arcus: live order book, 4 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 Deribit live order book, 5 min ago	0.54 bp	12.7 bp −$13	15.0 bp −$150	doesn't fit	doesn't fit
Sell Arcus live order book, 4 min ago	3.81 bp	10.7 bp −$11	14.4 bp −$144	doesn't fit	doesn't fit

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	−0.0999%	8h	91.880	+0.098%	$15.8M	$34.3M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.590	−0.218%	—	$38K	25x	as long as short
Gate CRCL_USDT	−0.0040%	8h	91.900	+0.120%	$7.1M	$26.3M	50x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.840	+0.054%	$906K	$552K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.850	+0.065%	$15.0M	$25.6M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.809	+0.021%	$419K	$297K	10x	as long as short
Variational Omni CRCL	0.0000%	8h	91.759	−0.034%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.980	+0.207%	$63K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.800	+0.011%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0024%	1h	91.823	+0.036%	$2K	$23K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0040%	1h	91.842	+0.057%	$972K	$2.9M	10x	as long as short
Extended CRCL_24_5-USD	+0.0040%	1h	91.801	+0.012%	$1.1M	$5.7M	10x	as long as short
Arcus CRCL-USDshort	+0.0040%	1h	91.820	+0.033%	$93K	$269K	10x
OKX CRCL-USDT-SWAP	+0.0041%	8h	91.850	+0.065%	$21.7M	$58.9M	50x	as long as short
Binance CRCLUSDT	+0.0042%	8h	91.825	+0.038%	$104.5M	$383.1M	50x	as long as short
Aster CRCLUSDT	+0.0049%	8h	91.883	+0.102%	$1.1M	$4.9M	20x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.755	−0.038%	$68.8M	$41.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.801	+0.012%	$355K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.792	+0.002%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.630	−0.174%	$1.0M	$5.2M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.830	+0.044%	$1.3M	$2.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0071%	8h	91.813	+0.025%	$753	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.817	+0.030%	$133K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.880	+0.098%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.760	−0.033%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.820	+0.033%	$915	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.810	+0.022%	$4	—	10x	as long as short
edgeX CRCLUSDC	+0.0168%	4h	91.858	+0.074%	$23K	$268K	10x	as long as short
Deribit CRCL_USDC-PERPETUALlong	+0.0186%	1h	91.790	long leg	$4K	$768K	10x
Phoenix CRCL	+0.0231%	1h	91.832	+0.046%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0272%	1h	91.822	+0.034%	$131K	$103K	3x	as long as short
Lighter CRCL	+0.0344%	1h	91.853	+0.069%	$3.0M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.240	+0.490%	$5K	$19K	30x	as long as short