CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0642%/8h= −70.3% APRnext payment −$3.21 per $10,000 · paid last 24h −0.180%

Price spread now: Phemex against edgeX+0.027%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$202as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$1071.067% of the position

Long on edgeX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.950%−$95 on $10k

Price spread, last 3 days (all we have)−0.170%−$17 · spread now +0.027%, 7d avg +0.004%

Together, before fees−1.120%+ Points / potential airdropedgeX: Active · farm board−$112 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.023% dearer against edgeX than usual: you sell high and buy low (spread +0.027% now, against its 7-day average of +0.004%): +$2 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 3 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CRCLUSDC	94.155	0.0642	pay 0.0321% / 4h	1h 06m	$24K	$267K	10x
Short	Phemex CRCLUSDT	94.180	0	get 0.0000% / 4h	1h 06m	$1.0M	$52K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against edgeX. 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 edgeXbpFee PhemexbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$134.74
Price spread: +0.027% → +0.004%: $2.32
Slippage, 4 orders: −$85.69
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$239.11
Costs to cover: 1.067%
Break-even: never at this rate

Slippage from edgeX: live order book, 11 min ago; Phemex: live order book, 1 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, 11 min ago	5.84 bp	11.1 bp −$11	22.7 bp −$227	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	1.06 bp	38.6 bp −$39	doesn't fit	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
Gate CRCL_USDT	0.0000%	8h	94.240	+0.091%	$7.2M	$27.6M	50x	as long as short
Phemex CRCLUSDTshort	0.0000%	4h	94.180	+0.027%	$1.0M	$52K	10x
Lighter RH CRCL	+0.0032%	1h	94.259	+0.111%	$888K	$2.9M	10x	as long as short
QFEX CRCL-USD	+0.0033%	1h	94.240	+0.091%	$1.4M	$2.7M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.220	+0.069%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0048%	1h	94.191	+0.039%	$2K	$20K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.219	+0.068%	$365K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.167	+0.013%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.050	−0.111%	$1.1M	$5.9M	10x	as long as short
Bybit CRCLUSDT	+0.0076%	8h	94.250	+0.101%	$15.5M	$25.8M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International CRCL-PERP-INTX	+0.0080%	1h	94.100	−0.058%	$936K	$720K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.180	+0.027%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.230	+0.080%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.170	+0.016%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.180	+0.027%	$939	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.214	+0.063%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0126%	8h	94.222	+0.072%	$773	$740	5x	as long as short
Variational Omni CRCL	+0.0128%	8h	94.142	−0.013%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	+0.0132%	8h	94.200	+0.048%	$62K	$1.1M	10x	as long as short
RISEx CRCL/USDC	+0.0159%	1h	94.245	+0.096%	$430K	$310K	10x	as long as short
Binance CRCLUSDT	+0.0162%	8h	94.240	+0.091%	$108.4M	$388.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0168%	1h	94.212	+0.060%	$1.1M	$3.8M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0172%	1h	94.200	+0.048%	$70.6M	$42.7M	10x	as long as short
Aster CRCLUSDT	+0.0180%	8h	94.197	+0.045%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0190%	8h	94.240	+0.091%	$22.8M	$60.4M	50x	as long as short
Phoenix CRCL	+0.0212%	1h	94.180	+0.027%	$28K	$92K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	94.200	+0.048%	$96K	$275K	10x	as long as short
Nado CRCL-PERP	+0.0253%	1h	94.159	+0.005%	$126K	$73K	3x	as long as short
BloFin CRCL-USDT	+0.0284%	8h	94.260	+0.112%	$1.1M	$580K	20x	as long as short
Lighter CRCL	+0.0288%	1h	94.270	+0.122%	$3.0M	$2.3M	10x	as long as short
Bitget CRCLUSDT	+0.0305%	8h	94.250	+0.101%	$16.6M	$35.1M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.760	+0.643%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0494%	1h	94.200	+0.048%	$4K	$772K	10x	as long as short
edgeX CRCLUSDClong	+0.0642%	4h	94.155	long leg	$24K	$267K	10x