Funding you earn now, next payment 02:00 UTC+0.0198%/8h= +21.6% APRnext payment +$0.25 per $10,000 · paid last 24h −0.027%
Price spread now: Nado against Deribit−0.298%46s7-day average −0.007% · you buy dearer than you sell
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−$340.338% of the position
Funding, last 3 days (all we have)−0.032%−$3 on $10k
+Price spread, last 3 days (all we have)+0.306%+$31 · spread now −0.298%, 7d avg −0.007%
=Together, before fees+0.274%+ Points / potential airdropNado: Active · farm board+$27 on $10k · with fees, hour by hour
Funding pays, the price is against you. Nado is 0.291% cheaper against Deribit than usual: you would sell low and buy high (spread −0.298% now, against its 7-day average of −0.007%). If the spread goes back, that is −$29 on $10k: about 4.9 days of funding at the current rate (+$6 a day). The two prices were read 46 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 -0.032% in total (about -3.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.25 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 | Deribit CRCL_USDC-PERPETUAL | 91.900 | 0 | get 0.0000% / 1h | 40m 29s | $4K | $769K | 10x |
| Short | Nado CRCL-PERP | 91.627 | 0.0198 | get 0.0025% / 1h | 40m 29s | $141K | $94K | 3x |
Deribit CRCL_USDC-PERPETUAL
Nado CRCL-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $41.49
- Price spread: −0.298% → −0.007%
- −$29.09
- Slippage, 4 orders
- −$19.85
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$21.44
- Costs to cover
- 0.338%
- Break-even
- 10.6 days
Slippage from Deribit: live order book, 28 min ago; Nado: live order book, 27 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, 28 min ago | 0.53 bp | 5.1 bp −$5 | 8.6 bp −$86 | doesn't fit | doesn't fit |
| Sell Nado live order book, 27 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 | −0.0162% | 8h | 91.790 | −0.120% | $16.0M | $35.3M | 25x | as long as short |
| Coinbase International CRCL-PERP-INTX | −0.0008% | 1h | 91.890 | −0.011% | $915K | $585K | 10x | as long as short |
| Bybit CRCLUSDT | 0.0000% | 8h | 91.690 | −0.229% | $15.0M | $25.8M | 50x | as long as short |
| RISEx CRCL/USDC | 0.0000% | 1h | 91.770 | −0.141% | $419K | $301K | 10x | as long as short |
| Gate CRCL_USDT | 0.0000% | 8h | 91.620 | −0.305% | $7.1M | $26.3M | 50x | as long as short |
| GRVT CRCL_USDT_Perp | 0.0000% | 8h | 92.081 | +0.197% | $63K | $1.1M | 10x | as long as short |
| Deribit CRCL_USDC-PERPETUALlong | 0.0000% | 1h | 91.900 | long leg | $4K | $769K | 10x | |
| Phemex CRCLUSDT | 0.0000% | 4h | 91.970 | +0.076% | $1.0M | $49K | 10x | as long as short |
| Variational Omni CRCL | +0.0004% | 8h | 91.891 | −0.010% | $2.5M | $3.2M | — | as long as short |
| Vest CRCL-USD-PERP | +0.0012% | 1h | 91.480 | −0.457% | — | $37K | 25x | as long as short |
Bitget CRCLUSDT
Coinbase International CRCL-PERP-INTX
Bybit CRCLUSDT
RISEx CRCL/USDC
Gate CRCL_USDT
GRVT CRCL_USDT_Perp
Phemex CRCLUSDT
Variational Omni CRCL
Vest CRCL-USD-PERPShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps CRCLUSD | +0.0027% | 1h | 92.150 | +0.273% | $2K | $22K | 5x | as long as short |
| Lighter RH CRCL | +0.0032% | 1h | 91.813 | −0.095% | $971K | $2.9M | 10x | as long as short |
| Arcus CRCL-USD | +0.0040% | 1h | 92.030 | +0.141% | $93K | $272K | 10x | as long as short |
| tradeXYZ xyz:CRCL | +0.0050% | 1h | 91.590 | −0.337% | $69.1M | $41.9M | 10x | as long as short |
| Polymarket Perps CRCL-USD | +0.0050% | 1h | 91.575 | −0.354% | $354K | $1.1M | 10x | as long as short |
| SoDEX CRCL-USD | +0.0050% | 1h | 91.910 | +0.011% | $46K | $3K | 10x | as long as short |
| Ondo Perps CRCL-USD.P | +0.0050% | 1h | 91.700 | −0.218% | $1.0M | $5.5M | 10x | as long as short |
| QFEX CRCL-USD | +0.0057% | 1h | 91.760 | −0.152% | $1.3M | $2.4M | 10x | as long as short |
| OKX CRCL-USDT-SWAP | +0.0083% | 8h | 91.760 | −0.152% | $21.6M | $60.0M | 50x | as long as short |
| Paradex CRCL-USD-PERP | +0.0085% | 8h | 91.780 | −0.131% | $753 | $740 | 5x | as long as short |
| Binance CRCLUSDT | +0.0085% | 8h | 91.657 | −0.264% | $104.9M | $392.5M | 50x | as long as short |
| Aster CRCLUSDT | +0.0086% | 8h | 91.799 | −0.110% | $1.1M | $4.9M | 20x | as long as short |
| Extended CRCL_24_5-USD | +0.0088% | 1h | 91.749 | −0.164% | $1.1M | $5.7M | 10x | as long as short |
| Pacifica CRCL | +0.0100% | 1h | 91.792 | −0.117% | $129K | $154K | 10x | as long as short |
| KuCoin CRCLUSDTM | +0.0100% | 8h | 91.680 | −0.239% | $2.9M | $1.9M | 20x | as long as short |
| ApeX Omni CRCLUSDT | +0.0100% | 1h | 92.210 | +0.337% | $68K | $4K | 50x | as long as short |
| Orderly PERP_CRCL_USDC_mythos | +0.0100% | 8h | 91.680 | −0.239% | $914 | $3K | 10x | as long as short |
| Aevo CRCL-PERP | +0.0104% | 1h | 91.696 | −0.222% | $4 | — | 10x | as long as short |
| Nado CRCL-PERPshort | +0.0198% | 1h | 91.627 | −0.298% | $141K | $94K | 3x | |
| Lighter CRCL | +0.0216% | 1h | 91.819 | −0.088% | $3.0M | $2.3M | 10x | as long as short |
| BloFin CRCL-USDT | +0.0222% | 8h | 92.330 | +0.468% | $1.1M | $1.1M | 20x | as long as short |
| Phoenix CRCL | +0.0231% | 1h | 91.994 | +0.102% | $27K | $92K | 10x | as long as short |
| Injective CRCL/USDC PERP | +0.0440% | 1h | 93.910 | +2.187% | $5K | $19K | 30x | as long as short |
| edgeX CRCLUSDC | +0.0628% | 4h | 92.314 | +0.451% | $23K | $267K | 10x | as long as short |
Aftermath Perps CRCLUSD
Lighter RH CRCL
Arcus CRCL-USD
tradeXYZ xyz:CRCL
Polymarket Perps CRCL-USD
SoDEX CRCL-USD
Ondo Perps CRCL-USD.P
QFEX CRCL-USD
OKX CRCL-USDT-SWAP
Paradex CRCL-USD-PERP
Binance CRCLUSDT
Aster CRCLUSDT
Extended CRCL_24_5-USD
Pacifica CRCL
KuCoin CRCLUSDTM
ApeX Omni CRCLUSDT
Orderly PERP_CRCL_USDC_mythos
Aevo CRCL-PERP
Lighter CRCL
BloFin CRCL-USDT
Phoenix CRCL
Injective CRCL/USDC PERP
edgeX CRCLUSDC