CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0187%/8h= −20.5% APRnext payment −$0.23 per $10,000 · paid last 24h −0.075%

Price spread now: Extended against Deribit+0.024%7-day average −0.015% · 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−$27as in the Price arb table

costs, in and out, $10k−$310.306% of the position

Long on Deribit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.142%−$14 on $10k

Price spread, last 4 days (all we have)+0.078%+$8 · spread now +0.024%, 7d avg −0.015%

Together, before fees−0.065%+ Points / potential airdropExtended: Active · farm board−$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.039% dearer against Deribit than usual: you sell high and buy low (spread +0.024% now, against its 7-day average of −0.015%): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit CRCL_USDC-PERPETUAL	92.490	0.0507	pay 0.0063% / 1h	59m 14s	$5K	$617K	10x
Short	Extended CRCL_24_5-USD	92.512	0.0320	get 0.0040% / 1h	59m 14s	$1.1M	$5.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$39.36
Price spread: +0.024% → −0.015%: $3.94
Slippage, 4 orders: −$18.57
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$65.98
Costs to cover: 0.306%
Break-even: never at this rate

Slippage from Deribit: live order book, 35 min ago; Extended: live order book, 5 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, 35 min ago	6.59 bp	10.1 bp −$10	13.1 bp −$131	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	0.22 bp	5.6 bp −$6	24.7 bp −$247	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
Vest CRCL-USD-PERP	−0.0069%	1h	92.420	−0.076%	—	$31K	25x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.620	+0.141%	$18.0M	$35.2M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.620	+0.141%	$1.0M	$46K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0008%	1h	92.580	+0.097%	$891K	$678K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	92.585	+0.102%	$2K	$29K	5x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.545	+0.059%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.510	+0.022%	$1.1M	$4.3M	10x	as long as short
Lighter RH CRCL	+0.0056%	1h	92.611	+0.131%	$996K	$2.3M	10x	as long as short
Gate CRCL_USDT	+0.0058%	8h	92.650	+0.173%	$7.3M	$25.3M	50x	as long as short
QFEX CRCL-USD	+0.0065%	1h	92.580	+0.097%	$1.4M	$1.7M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica CRCL	+0.0100%	1h	92.550	+0.065%	$136K	$139K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.610	+0.130%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.510	+0.022%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.540	+0.054%	$923	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.539	+0.053%	$4	—	10x	as long as short
Polymarket Perps CRCL-USD	+0.0148%	1h	92.583	+0.101%	$380K	$963K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0167%	8h	92.587	+0.105%	$426	$766	5x	as long as short
Bybit CRCLUSDT	+0.0182%	8h	92.580	+0.097%	$15.1M	$26.1M	50x	as long as short
Phoenix CRCL	+0.0254%	1h	92.779	+0.312%	$27K	$64K	10x	as long as short
Variational Omni CRCL	+0.0257%	8h	92.578	+0.095%	$2.4M	$3.2M	—	as long as short
tradeXYZ xyz:CRCL	+0.0280%	1h	92.512	+0.024%	$67.8M	$42.8M	10x	as long as short
Nado CRCL-PERP	+0.0293%	1h	92.465	−0.027%	$149K	$111K	3x	as long as short
Lighter CRCL	+0.0296%	1h	92.604	+0.123%	$3.0M	$2.0M	10x	as long as short
Aster CRCLUSDT	+0.0310%	8h	92.629	+0.151%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0312%	8h	92.670	+0.195%	$22.6M	$59.5M	50x	as long as short
Extended CRCL_24_5-USDshort	+0.0320%	1h	92.512	+0.024%	$1.1M	$5.0M	10x
Binance CRCLUSDT	+0.0324%	8h	92.580	+0.097%	$106.7M	$377.6M	50x	as long as short
Arcus CRCL-USD	+0.0368%	1h	92.620	+0.141%	$96K	$269K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	93.200	+0.768%	$39K	$172K	30x	as long as short
BloFin CRCL-USDT	+0.0444%	8h	92.640	+0.162%	$1.1M	$1.7M	20x	as long as short
RISEx CRCL/USDC	+0.0479%	1h	92.565	+0.081%	$414K	$255K	10x	as long as short
Deribit CRCL_USDC-PERPETUALlong	+0.0507%	1h	92.490	long leg	$5K	$617K	10x
edgeX CRCLUSDC	+0.0674%	4h	92.700	+0.228%	$53K	$270K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0688%	8h	92.732	+0.262%	$62K	$1.1M	10x	as long as short