CRCL

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	Kraken FuturesPF_CRCLXUSD	67.130	−0.0322	get 0.0040% / 1h	45m 33s	$1.3M	$5.6M	20x	Long Kraken Futures
SHORT	BackpackCRCL.US_USDC_PERP	67.300	+0.1499	get 0.0187% / 1h	45m 33s	$294K	$425K	10x	Short Backpack

Price gap+0.254%

Funding gap+0.1821% /8h

Both sides work: funding pays +$55 a day on $10k, and the gap is 0.358% above its 7d average: +$36 more if it goes back.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding+$47+0.1821% /8h now · paid +0.471% over the last 7D

Price+$36spread +0.254% now, avg −0.104% → +0.358% if it goes back

Costs−$700.701% of $10k · taker + slippage, in and out

Result+$13+0.13%no points

The current funding rate is far above what this pair has been paying: over the last 7 days it paid +0.471% in total, about +0.0224%/8h on average.

Price and funding

1h · history

Entry / Exit

Price spread

Prices

Fundingper 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now+0.254%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

CRCL on 45 exchanges

lowest funding first

Before you open

2 ok · 3 to watch

Watch: Thin at this size19.1 / 14.9 bp
At $10k entering Kraken Futures costs 19.1 bp, fee and slippage, 1.3× Backpack’s.
Note: Margin at max leverage$500 + $1,000
Kraken Futures 20x, Backpack 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
OK: Same payment interval1h / 1h
Both legs pay at the same time.
Next 24h at the current rates, on $10k a leg: +$54.63Long Kraken Futures: 24 payments, +$9.65; short Backpack: 24 payments, +$44.97.
OK: Entry gap works for you+0.254% vs −0.104%
You short the dearer leg. If the gap goes back to average, the short gains.
Watch: Short leg is thinner$294K vs $1.3M OI
Backpack sets your exit cost. Check its book before closing.
Note: No points program—
Neither exchange runs points right now.
Watch: KYCKraken Futures Yes · Backpack Yes
Full verification; not offered in the US (a separate US product), Canada, Australia (wholesale only) or to retail UK clients.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned+0.0224%/8h × 21 periods+$47.07

Price spread+0.254% → −0.104% (7d avg)+$35.81

Slippage, 4 orderslive order books−$50.08

Fee Kraken Futures bp × 2 orders−$10.00

Fee Backpack bp × 2 orders−$10.00

Net · 7 days · $10k+$12.81

Costs to cover0.701%Break-even5.1 days

Slippage: Kraken Futures: live order book, 1 min ago; Backpack: live order book, 36 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGKraken Futures12.6619.1 bp−$1940.9 bp−$409doesn’t fitdoesn’t fit

SELL · SHORTBackpack5.8314.9 bp−$15doesn’t fitdoesn’t fitdoesn’t fit

Closing costs about the same again.

CRCL news

posts that mention CRCL or Circle Internet Group, from every exchange

11-04 19:06	Ondo Perps	Other	Eligible perps markets for the Liquidity Pool: ▸ Stocks: NVDA, TSLA, META, AMD, INTC, MU, SNDK, COIN, MSTR, CRCL, SPCX ▸ Indices: US 500, US 100 ▸ ETFs: DRAM, SOXL ▸ Commodities: Gold, Silver, WTI ▸ Crypto: BTC, ETH Rewards are paid in USDC directly to your trading account within 48 hours of each week’s close. Trade Now → @OndoPerps on X ↗
11-04 16:01	Phoenix	Other	$13.9T of USDC moved onchain last quarter, up 49% from a year ago. Circle reported Q3 revenue of $865M this morning, up 17%. Trade $CRCL on Phoenix, 24/7. @PhoenixTrade on X ↗
11-03 16:43	Entropy	Listing	New Listing: Circle ($CRCL) at 15x Leverage. @entropyIO on X ↗
11-03 16:03	Entropy	Listing	new market io:CRCL ($CRCL) seen by our collector
11-03 12:30	OKX	Other	This week, $SHOP, $AMD, $CRCL & $QCOM report earnings after market close. Trade both names 24/7 with Tokenized Stocks, or take a long or short view with up to 10x leverage on X-Perps. Markets move. You do too. @okx on X ↗
11-03 11:10	Bulk	Other	STOCK SZN CONTINUES Trade $NVDA, $CRCL and $MSTR up to 10x leverage! >Fees are 55% off on all RWAs >This weeks gauntlet is stock szn >You get to tell your parents your an equities investor What are you waiting for? @bulktrade on X ↗