CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0010%/8h= −1.1% APRnext payment −$0.01 per $10,000 · paid last 24h −0.053%

Price spread now: Nado against Injective−0.389%49s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Nado is 0.389% cheaper against Injective than usual: you would sell low and buy high (−$39 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 49 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	Injective CRCL/USDC PERP	91.570	0.0440	pay 0.0055% / 1h	18m 08s	$5K	$19K	30x
Short	Nado CRCL-PERP	91.214	0.0430	get 0.0054% / 1h	18m 08s	$134K	$109K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Injective. 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 InjectivebpFee NadobpOrdersPrice spread, now −0.389%Rate

Funding earned: −$2.02
Price spread: −0.389% → 0.000%: −$38.91
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$47.95
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Nado: live order book, 19 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Nado live order book, 19 min ago	2.18 bp	9.7 bp −$10	26.2 bp −$262	doesn't fit	doesn't fit

Injective: 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	−0.0359%	8h	91.360	−0.229%	$17.5M	$36.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0079%	1h	90.970	−0.655%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.320	−0.273%	$7.9M	$27.7M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.290	−0.306%	$1.0M	$48K	10x	as long as short
edgeX CRCLUSDC	+0.0006%	4h	91.021	−0.600%	$52K	$270K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.283	−0.313%	$983K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.184	−0.421%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.170	−0.437%	$95K	$296K	10x	as long as short
Bybit CRCLUSDT	+0.0046%	8h	91.300	−0.295%	$14.8M	$26.5M	50x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.250	−0.349%	$46K	$3K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.200	−0.404%	$1.1M	$4.8M	10x	as long as short
QFEX CRCL-USD	+0.0071%	1h	91.280	−0.317%	$1.3M	$1.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.050	−0.568%	$876K	$495K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0096%	1h	91.203	−0.401%	$67.3M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.250	−0.349%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.220	−0.382%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.040	−0.579%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.270	−0.328%	$910	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.286	−0.310%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0112%	8h	91.119	−0.492%	$2.4M	$3.3M	—	as long as short
Polymarket Perps CRCL-USD	+0.0153%	1h	91.266	−0.332%	$378K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0155%	8h	91.279	−0.318%	$420	$905	5x	as long as short
Aster CRCLUSDT	+0.0181%	8h	91.304	−0.290%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0199%	8h	91.280	−0.317%	$104.8M	$389.6M	50x	as long as short
Extended CRCL_24_5-USD	+0.0200%	1h	91.257	−0.342%	$1.0M	$5.0M	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.188	−0.417%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0244%	8h	91.144	−0.465%	$70K	$1.1M	10x	as long as short
Lighter CRCL	+0.0248%	1h	91.279	−0.318%	$2.9M	$2.4M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0275%	8h	91.300	−0.295%	$22.3M	$61.7M	50x	as long as short
BloFin CRCL-USDT	+0.0315%	8h	91.330	−0.262%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERPshort	+0.0430%	1h	91.214	−0.389%	$134K	$109K	3x
Injective CRCL/USDC PERPlong	+0.0440%	1h	91.570	long leg	$5K	$19K	30x
RISEx CRCL/USDC	+0.0466%	1h	91.295	−0.300%	$412K	$272K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0518%	1h	91.260	−0.339%	$5K	$769K	10x	as long as short