CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0216%/8h= −23.6% APRnext payment −$0.27 per $10,000 · paid last 24h −0.013%

Price spread now: Arcus against Lighter−0.104%7-day average −0.145% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$290.289% of the position

Long on Lighter Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.036%−$4 on $10k

Price spread, last 4 days (all we have)−0.157%−$16 · spread now −0.104%, 7d avg −0.145%

Together, before fees−0.192%+ Points / potential airdropLighter: Season 3 · farm board−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.041% dearer against Lighter than usual: you sell high and buy low (spread −0.104% now, against its 7-day average of −0.145%): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 15 hours. At the pace of the last 3 days (−0.036% in total) that is about 4.0 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.036% in total (about -3.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.27 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	Lighter CRCL	92.276	0.0256	pay 0.0032% / 1h	44m 18s	$3.0M	$2.3M	10x
Short	Arcus CRCL-USD	92.180	0.0040	get 0.0005% / 1h	44m 18s	$94K	$272K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Lighter. 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 LighterbpFee ArcusbpOrdersPrice spread, now −0.104%Rate

Funding earned: −$45.3
Price spread: −0.104% → −0.145%: $4.1
Slippage, 4 orders: −$24.36
Fee Lighter: 0 bp × 2 orders: $0
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$70.07
Costs to cover: 0.289%
Break-even: never at this rate

Slippage from Lighter: live order book, 8 min ago; Arcus: live order book, 24 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 Lighter live order book, 8 min ago	2.31 bp	5.3 bp −$5	10.2 bp −$102	39.8 bp −$3,978	doesn't fit
Sell Arcus live order book, 24 min ago	3.19 bp	10.1 bp −$10	14.3 bp −$143	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-INTX	−0.0008%	1h	91.840	−0.472%	$919K	$581K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.280	+0.004%	$15.2M	$25.7M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.210	−0.072%	$421K	$300K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.330	+0.059%	$7.2M	$26.0M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.380	+0.113%	$16.4M	$34.9M	25x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	92.668	+0.425%	$61K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.040	−0.256%	$1.0M	$49K	10x	as long as short
Variational Omni CRCL	+0.0014%	8h	91.991	−0.309%	$2.5M	$3.2M	—	as long as short
Vest CRCL-USD-PERP	+0.0020%	1h	91.960	−0.342%	—	$38K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0030%	1h	92.378	+0.110%	$2K	$22K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	92.242	−0.037%	$974K	$2.9M	10x	as long as short
edgeX CRCLUSDC	+0.0036%	4h	92.112	−0.178%	$23K	$268K	10x	as long as short
Arcus CRCL-USDshort	+0.0040%	1h	92.180	−0.104%	$94K	$272K	10x
tradeXYZ xyz:CRCL	+0.0050%	1h	92.215	−0.066%	$69.7M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.195	−0.088%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.123	−0.166%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.180	−0.104%	$998K	$5.5M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	92.180	−0.104%	$1.3M	$2.4M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0088%	8h	92.206	−0.076%	$756	$740	5x	as long as short
OKX CRCL-USDT-SWAP	+0.0092%	8h	92.330	+0.059%	$21.9M	$59.9M	50x	as long as short
Aster CRCLUSDT	+0.0094%	8h	92.209	−0.073%	$1.1M	$4.9M	20x	as long as short
Binance CRCLUSDT	+0.0095%	8h	92.258	−0.019%	$105.6M	$390.8M	50x	as long as short
Extended CRCL_24_5-USD	+0.0096%	1h	92.252	−0.026%	$1.1M	$5.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.236	−0.044%	$129K	$154K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.310	+0.037%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.900	−0.407%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.230	−0.050%	$920	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.269	−0.007%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0222%	8h	92.330	+0.059%	$1.1M	$1.1M	20x	as long as short
Nado CRCL-PERP	+0.0227%	1h	92.193	−0.090%	$152K	$89K	3x	as long as short
Phoenix CRCL	+0.0231%	1h	91.994	−0.306%	$27K	$92K	10x	as long as short
Lighter CRCLlong	+0.0256%	1h	92.276	long leg	$3.0M	$2.3M	10x
Deribit CRCL_USDC-PERPETUAL	+0.0401%	1h	92.270	−0.007%	$4K	$769K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	93.910	+1.771%	$5K	$19K	30x	as long as short