Funding you earn now, next payment 01:00 UTC−0.0308%/8h= −33.8% APRpaid last 24h −0.151%
Price spread now: Lighter RH against edgeX−0.174%50s7-day average +0.016% · you buy dearer than you sell
Net, funding: paid 7d − costs−$113as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$300.303% of the position
Funding, last 7 days−0.829%−$83 on $10k
+Price spread, last 3 days (all we have)+0.063%+$6 · spread now −0.174%, 7d avg +0.016%
=Together, before fees−0.765%+ Points / potential airdropedgeX: Active · Lighter RH: Points live · farm board−$77 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Lighter RH is 0.191% cheaper against edgeX than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.016%). Swap the legs. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | edgeX CRCLUSDC | 94.103 | 0.0340 | pay 0.0170% / 4h | 3h 04m | $24K | $267K | 10x |
| Short | Lighter RH CRCL | 93.939 | 0.0032 | get 0.0004% / 1h | 4m 41s | $982K | $2.9M | 10x |
edgeX CRCLUSDC
Lighter RH CRCLFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against edgeX. 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
- −$64.74
- Price spread: −0.174% → +0.016%
- −$19.09
- Slippage, 4 orders
- −$21.34
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$114.17
- Costs to cover
- 0.303%
- Break-even
- never at this rate
Slippage from edgeX: live order book, 3 min ago; Lighter RH: live order book, 3 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 edgeX live order book, 3 min ago | 6.38 bp | 11.6 bp −$12 | 22.8 bp −$228 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 3 min ago | 3.03 bp | 3.2 bp −$3 | 6.1 bp −$61 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International CRCL-PERP-INTX | −0.0064% | 1h | 94.000 | −0.110% | $940K | $620K | 10x | as long as short |
| Bybit CRCLUSDT | 0.0000% | 8h | 93.980 | −0.131% | $15.4M | $25.4M | 50x | as long as short |
| Gate CRCL_USDT | 0.0000% | 8h | 94.030 | −0.078% | $7.2M | $27.1M | 50x | as long as short |
| Bitget CRCLUSDT | 0.0000% | 8h | 93.990 | −0.120% | $16.7M | $34.3M | 25x | as long as short |
| Phemex CRCLUSDT | 0.0000% | 4h | 93.920 | −0.195% | $1.0M | $49K | 10x | as long as short |
| Lighter RH CRCLshort | +0.0032% | 1h | 93.939 | −0.174% | $982K | $2.9M | 10x | |
| GRVT CRCL_USDT_Perp | +0.0035% | 8h | 94.270 | +0.177% | $62K | $1.1M | 10x | as long as short |
| Aftermath Perps CRCLUSD | +0.0038% | 1h | 94.059 | −0.047% | $2K | $22K | 5x | as long as short |
| QFEX CRCL-USD | +0.0042% | 1h | 93.960 | −0.152% | $1.4M | $2.5M | 10x | as long as short |
| Vest CRCL-USD-PERP | +0.0046% | 1h | 93.850 | −0.269% | — | $37K | 25x | as long as short |
Coinbase International CRCL-PERP-INTX
Bybit CRCLUSDT
Gate CRCL_USDT
Bitget CRCLUSDT
Phemex CRCLUSDT
GRVT CRCL_USDT_Perp
Aftermath Perps CRCLUSD
QFEX CRCL-USD
Vest CRCL-USD-PERPShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:CRCL | +0.0050% | 1h | 93.889 | −0.228% | $71.5M | $40.6M | 10x | as long as short |
| Polymarket Perps CRCL-USD | +0.0050% | 1h | 93.953 | −0.160% | $364K | $1.1M | 10x | as long as short |
| SoDEX CRCL-USD | +0.0050% | 1h | 93.918 | −0.197% | $47K | $3K | 10x | as long as short |
| Ondo Perps CRCL-USD.P | +0.0050% | 1h | 93.880 | −0.237% | $1.1M | $5.7M | 10x | as long as short |
| Variational Omni CRCL | +0.0078% | 8h | 93.978 | −0.133% | $2.5M | $3.1M | — | as long as short |
| Paradex CRCL-USD-PERP | +0.0099% | 8h | 93.954 | −0.159% | $770 | $740 | 5x | as long as short |
| Pacifica CRCL | +0.0100% | 1h | 93.930 | −0.184% | $75K | $96K | 10x | as long as short |
| KuCoin CRCLUSDTM | +0.0100% | 8h | 94.010 | −0.099% | $3.0M | $1.9M | 20x | as long as short |
| ApeX Omni CRCLUSDT | +0.0100% | 1h | 94.140 | +0.039% | $69K | $4K | 50x | as long as short |
| Orderly PERP_CRCL_USDC_mythos | +0.0100% | 8h | 93.970 | −0.142% | $937 | $3K | 10x | as long as short |
| Aevo CRCL-PERP | +0.0104% | 1h | 93.915 | −0.200% | $4 | — | 10x | as long as short |
| OKX CRCL-USDT-SWAP | +0.0128% | 8h | 93.990 | −0.120% | $22.7M | $58.8M | 50x | as long as short |
| Binance CRCLUSDT | +0.0153% | 8h | 94.000 | −0.110% | $108.9M | $385.1M | 50x | as long as short |
| Aster CRCLUSDT | +0.0156% | 8h | 94.035 | −0.073% | $1.1M | $4.9M | 20x | as long as short |
| Extended CRCL_24_5-USD | +0.0160% | 1h | 93.958 | −0.154% | $1.1M | $5.7M | 10x | as long as short |
| Nado CRCL-PERP | +0.0226% | 1h | 93.914 | −0.201% | $131K | $76K | 3x | as long as short |
| BloFin CRCL-USDT | +0.0278% | 8h | 93.940 | −0.173% | $1.1M | $576K | 20x | as long as short |
| Deribit CRCL_USDC-PERPETUAL | +0.0283% | 1h | 93.870 | −0.248% | $4K | $769K | 10x | as long as short |
| Phoenix CRCL | +0.0296% | 1h | 93.980 | −0.131% | $28K | $92K | 10x | as long as short |
| Lighter CRCL | +0.0320% | 1h | 93.964 | −0.148% | $3.0M | $2.3M | 10x | as long as short |
| edgeX CRCLUSDClong | +0.0340% | 4h | 94.103 | long leg | $24K | $267K | 10x | |
| Injective CRCL/USDC PERP | +0.0440% | 1h | 94.670 | +0.602% | $5K | $19K | 30x | as long as short |
| Arcus CRCL-USD | +0.0521% | 1h | 94.030 | −0.078% | $96K | $271K | 10x | as long as short |
| RISEx CRCL/USDC | +0.0677% | 1h | 93.990 | −0.120% | $428K | $297K | 10x | as long as short |
tradeXYZ xyz:CRCL
Polymarket Perps CRCL-USD
SoDEX CRCL-USD
Ondo Perps CRCL-USD.P
Variational Omni CRCL
Paradex CRCL-USD-PERP
Pacifica CRCL
KuCoin CRCLUSDTM
ApeX Omni CRCLUSDT
Orderly PERP_CRCL_USDC_mythos
Aevo CRCL-PERP
OKX CRCL-USDT-SWAP
Binance CRCLUSDT
Aster CRCLUSDT
Extended CRCL_24_5-USD
Nado CRCL-PERP
BloFin CRCL-USDT
Deribit CRCL_USDC-PERPETUAL
Phoenix CRCL
Lighter CRCL
Injective CRCL/USDC PERP
Arcus CRCL-USD
RISEx CRCL/USDC