CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0328%/8h= −35.9% APRnext payment −$0.41 per $10,000 · paid last 24h −0.040%

Price spread now: Phoenix against Deribit+0.165%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Phoenix is 0.165% dearer against Deribit than usual: you sell high and buy low (spread +0.165% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 40 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit CRCL_USDC-PERPETUAL	92.040	0.0511	pay 0.0064% / 1h	12m 44s	$4K	$767K	10x
Short	Phoenix CRCL	92.192	0.0183	get 0.0023% / 1h	12m 44s	$27K	$84K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.165%Rate

Funding earned: −$68.94
Price spread: +0.165% → 0.000%: $16.51
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$66.43
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Deribit: live order book, 51 min ago; Phoenix: 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 Deribit live order book, 51 min ago	0.54 bp	12.7 bp −$13	15.0 bp −$150	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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	−0.1131%	8h	92.090	+0.054%	$16.0M	$34.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0077%	1h	91.880	−0.174%	—	$31K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	92.090	+0.054%	$909K	$501K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.070	+0.033%	$15.2M	$25.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.070	+0.033%	$420K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.110	+0.076%	$7.1M	$26.8M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.177	+0.149%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	92.175	+0.147%	$65K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.110	+0.076%	$1.0M	$49K	10x	as long as short
Binance CRCLUSDT	+0.0004%	8h	92.059	+0.021%	$105.2M	$386.1M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CRCL_24_5-USD	+0.0008%	1h	92.030	−0.010%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0011%	8h	92.009	−0.034%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0014%	8h	92.080	+0.043%	$21.6M	$59.7M	50x	as long as short
BloFin CRCL-USDT	+0.0017%	8h	92.020	−0.022%	$1.1M	$1.3M	20x	as long as short
Aftermath Perps CRCLUSD	+0.0023%	1h	92.017	−0.025%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	92.050	+0.011%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.080	+0.043%	$977K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.030	−0.011%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.025	−0.016%	$68.6M	$41.4M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.071	+0.034%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.032	−0.009%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.040	0.000%	$1.0M	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0086%	8h	92.072	+0.035%	$755	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	92.062	+0.024%	$133K	$156K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.050	+0.011%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.030	−0.011%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.040	0.000%	$918	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.049	+0.010%	$4	—	10x	as long as short
Phoenix CRCLshort	+0.0183%	1h	92.192	+0.165%	$27K	$84K	10x
Nado CRCL-PERP	+0.0224%	1h	92.013	−0.029%	$131K	$104K	3x	as long as short
Lighter CRCL	+0.0240%	1h	92.085	+0.049%	$3.0M	$2.4M	10x	as long as short
edgeX CRCLUSDC	+0.0305%	4h	92.149	+0.119%	$23K	$249K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.530	+0.532%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUALlong	+0.0511%	1h	92.040	long leg	$4K	$767K	10x