CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0112%/8h= +12.3% APRnext payment +$0.14 per $10,000 · paid last 24h +0.032%

Price spread now: Lighter against Extended+0.008%7-day average +0.108% · you sell dearer than you buy

Net, funding: paid 7d − costs+$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$140.144% of the position

Long on Extended Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.489%+$49 on $10k

Price spread, last 4 days (all we have)+0.111%+$11 · spread now +0.008%, 7d avg +0.108%

Together, before fees+0.601%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board+$60 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.100% cheaper against Extended than usual: you would sell low and buy high (spread +0.008% now, against its 7-day average of +0.108%). If the spread goes back, that is −$10 on $10k: about 3.0 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.489% in total) that is about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended CRCL_24_5-USD	94.428	0.0192	pay 0.0024% / 1h	30m 10s	$1.1M	$5.9M	10x
Short	Lighter CRCL	94.436	0.0304	get 0.0038% / 1h	30m 10s	$3.1M	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.008%Rate

Funding earned: $23.52
Price spread: +0.008% → +0.108%: −$9.97
Slippage, 4 orders: −$9.42
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$0.87
Costs to cover: 0.144%
Break-even: 7.3 days

Slippage from Extended: live order book, 4 min ago; Lighter: live order book, 2 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, 4 min ago	0.58 bp	5.3 bp −$5	43.2 bp −$432	doesn't fit	doesn't fit
Sell Lighter live order book, 2 min ago	1.11 bp	1.2 bp −$1	5.0 bp −$50	37.8 bp −$3,782	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	94.210	−0.231%	$942K	$622K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	94.440	+0.012%	$15.5M	$25.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.430	+0.002%	$7.2M	$27.0M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.300	−0.136%	$68K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.340	−0.093%	$1.0M	$51K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.412	−0.017%	$889K	$2.8M	10x	as long as short
Bitget CRCLUSDT	+0.0035%	8h	94.450	+0.023%	$17.0M	$34.7M	25x	as long as short
Aftermath Perps CRCLUSD	+0.0042%	1h	94.325	−0.109%	$2K	$22K	5x	as long as short
QFEX CRCL-USD	+0.0042%	1h	94.410	−0.019%	$1.4M	$2.6M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.310	−0.125%	—	$37K	25x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CRCLUSDC	+0.0047%	4h	94.288	−0.148%	$24K	$268K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	94.336	−0.098%	$71.7M	$42.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.402	−0.028%	$366K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.404	−0.026%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.320	−0.115%	$1.0M	$5.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.400	−0.030%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.400	−0.030%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.300	−0.136%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.430	+0.002%	$941	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.433	+0.005%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0105%	8h	94.438	+0.011%	$774	$740	5x	as long as short
Variational Omni CRCL	+0.0127%	8h	94.450	+0.023%	$2.5M	$3.1M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0153%	8h	94.430	+0.002%	$22.8M	$59.5M	50x	as long as short
Extended CRCL_24_5-USDlong	+0.0192%	1h	94.428	long leg	$1.1M	$5.9M	10x
Binance CRCLUSDT	+0.0194%	8h	94.425	−0.003%	$109.4M	$386.2M	50x	as long as short
Aster CRCLUSDT	+0.0201%	8h	94.419	−0.009%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0226%	1h	94.360	−0.072%	$132K	$76K	3x	as long as short
Phoenix CRCL	+0.0296%	1h	94.328	−0.106%	$28K	$92K	10x	as long as short
Lighter CRCLshort	+0.0304%	1h	94.436	+0.008%	$3.1M	$2.2M	10x
BloFin CRCL-USDT	+0.0314%	8h	94.460	+0.034%	$1.1M	$561K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.890	+0.489%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0492%	1h	94.430	+0.002%	$4K	$769K	10x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.350	−0.083%	$96K	$273K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	94.432	+0.004%	$431K	$299K	10x	as long as short