CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0155%/8h= −16.9% APRnext payment −$0.19 per $10,000 · paid last 24h −0.097%

Price spread now: Lighter RH against Deribit+0.014%7-day average +0.024% · 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−$26as in the Price arb table

costs, in and out, $10k−$250.253% of the position

Long on Deribit Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.157%−$16 on $10k

Price spread, last 4 days (all we have)+0.053%+$5 · spread now +0.014%, 7d avg +0.024%

Together, before fees−0.104%+ Points / potential airdropLighter RH: Points live · farm board−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.024%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit CRCL_USDC-PERPETUAL	91.620	0.0187	pay 0.0023% / 1h	49m 14s	$4K	$768K	10x
Short	Lighter RH CRCL	91.633	0.0032	get 0.0004% / 1h	49m 14s	$975K	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$32.5
Price spread: +0.014% → +0.024%: −$1.02
Slippage, 4 orders: −$18.32
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$58.84
Costs to cover: 0.253%
Break-even: never at this rate

Slippage from Deribit: live order book, 65 min ago; Lighter RH: 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, 65 min ago	0.54 bp	7.3 bp −$7	10.3 bp −$103	doesn't fit	doesn't fit
Sell Lighter RH live order book, 4 min ago	3.60 bp	3.6 bp −$4	5.5 bp −$55	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	−0.0749%	8h	91.670	+0.055%	$16.7M	$36.1M	25x	as long as short
Vest CRCL-USD-PERP	−0.0068%	1h	91.370	−0.273%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.630	+0.011%	$14.7M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.630	+0.011%	$7.4M	$27.0M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.669	+0.053%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.630	+0.011%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0025%	8h	91.676	+0.061%	$1.0M	$5.1M	20x	as long as short
Lighter RH CRCLshort	+0.0032%	1h	91.633	+0.014%	$975K	$2.9M	10x
Extended CRCL_24_5-USD	+0.0032%	1h	91.605	−0.016%	$1.1M	$5.6M	10x	as long as short
Binance CRCLUSDT	+0.0035%	8h	91.620	0.000%	$104.4M	$393.6M	50x	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	91.600	−0.022%	$93K	$291K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0042%	1h	91.612	−0.008%	$2K	$26K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.620	0.000%	$384K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.602	−0.020%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.600	−0.022%	$1.0M	$5.1M	10x	as long as short
edgeX CRCLUSDC	+0.0053%	4h	91.553	−0.073%	$51K	$276K	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	91.610	−0.011%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	91.400	−0.240%	$911K	$521K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0074%	1h	91.591	−0.032%	$68.2M	$42.8M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0095%	8h	91.611	−0.010%	$421	$905	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.616	−0.004%	$134K	$162K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.630	+0.011%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.600	−0.022%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.610	−0.011%	$913	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.621	+0.001%	$4	—	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0110%	8h	91.680	+0.065%	$62K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0115%	8h	91.640	+0.022%	$22.2M	$61.9M	50x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	91.640	+0.022%	$417K	$299K	10x	as long as short
BloFin CRCL-USDT	+0.0138%	8h	91.620	0.000%	$1.1M	$1.6M	20x	as long as short
Deribit CRCL_USDC-PERPETUALlong	+0.0187%	1h	91.620	long leg	$4K	$768K	10x
Phoenix CRCL	+0.0210%	1h	91.658	+0.041%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0328%	1h	91.635	+0.016%	$2.9M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0361%	1h	91.575	−0.049%	$133K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.050	+0.469%	$5K	$19K	30x	as long as short