CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0264%/8h= −28.9% APRnext payment −$0.33 per $10,000 · paid last 24h −0.026%

Price spread now: Coinbase International against Extended−0.192%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$440.436% of the position

Long on Extended Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 3 days (all we have)+0.187%+$19 · spread now −0.192%, 7d avg −0.014%

Together, before fees+0.201%+ Points / potential airdropExtended: Active · farm board+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Coinbase International is 0.178% cheaper against Extended than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.014%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.014% in total (about 0.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.33 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	Extended CRCL_24_5-USD	94.281	0.0200	pay 0.0025% / 1h	33m 54s	$1.1M	$5.7M	10x
Short	Coinbase International CRCL-PERP-INTX	94.100	−0.0064	pay 0.0008% / 1h	33m 54s	$941K	$619K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Extended. 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 ExtendedbpFee Coinbase InternationalbpOrdersPrice spread, now −0.192%Rate

Funding earned: −$55.44
Price spread: −0.192% → −0.014%: −$17.8
Slippage, 4 orders: −$28.64
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$116.89
Costs to cover: 0.436%
Break-even: never at this rate

Slippage from Extended: live order book, 5 min ago; Coinbase International: live order book, 39 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 Extended live order book, 5 min ago	0.90 bp	5.7 bp −$6	51.6 bp −$516	doesn't fit	doesn't fit
Sell Coinbase International live order book, 39 min ago	5.29 bp	21.9 bp −$22	27.4 bp −$274	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-INTXshort	−0.0064%	1h	94.100	−0.192%	$941K	$619K	10x
Gate CRCL_USDT	0.0000%	8h	94.320	+0.041%	$7.2M	$27.0M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.341	+0.064%	$68K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.320	+0.041%	$1.0M	$51K	10x	as long as short
Bybit CRCLUSDT	+0.0012%	8h	94.310	+0.031%	$15.5M	$25.7M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.328	+0.050%	$891K	$2.8M	10x	as long as short
QFEX CRCL-USD	+0.0042%	1h	94.300	+0.020%	$1.4M	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0043%	1h	94.245	−0.039%	$2K	$22K	5x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.180	−0.107%	—	$37K	25x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	94.256	−0.026%	$71.7M	$42.2M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps CRCL-USD	+0.0050%	1h	94.281	0.000%	$365K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.304	+0.024%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.180	−0.107%	$1.1M	$5.8M	10x	as long as short
Bitget CRCLUSDT	+0.0052%	8h	94.370	+0.095%	$17.0M	$34.9M	25x	as long as short
Pacifica CRCL	+0.0100%	1h	94.249	−0.034%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.350	+0.073%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.230	−0.054%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.290	+0.010%	$940	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.314	+0.035%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0107%	8h	94.303	+0.023%	$773	$740	5x	as long as short
Variational Omni CRCL	+0.0137%	8h	94.330	+0.052%	$2.5M	$3.1M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0156%	8h	94.310	+0.031%	$22.8M	$59.8M	50x	as long as short
Extended CRCL_24_5-USDlong	+0.0200%	1h	94.281	long leg	$1.1M	$5.7M	10x
Binance CRCLUSDT	+0.0200%	8h	94.304	+0.025%	$109.3M	$387.1M	50x	as long as short
Aster CRCLUSDT	+0.0206%	8h	94.335	+0.058%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0226%	1h	94.229	−0.055%	$132K	$76K	3x	as long as short
Phoenix CRCL	+0.0296%	1h	94.307	+0.028%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0296%	1h	94.344	+0.067%	$3.0M	$2.2M	10x	as long as short
BloFin CRCL-USDT	+0.0323%	8h	94.320	+0.041%	$1.1M	$560K	20x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0387%	1h	94.310	+0.031%	$4K	$771K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.730	+0.476%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0464%	4h	94.309	+0.029%	$24K	$268K	10x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.280	−0.001%	$96K	$276K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	94.307	+0.028%	$430K	$299K	10x	as long as short