CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0248%/8h= −27.2% APRnext payment −$0.31 per $10,000 · paid last 24h −0.078%

Price spread now: Lighter RH against Lighter−0.005%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

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

costs, in and out, $10k−$130.128% of the position

Long on Lighter Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.670%−$67 on $10k

Price spread, last 7 days−0.051%−$5 · spread now −0.005%, 7d avg −0.059%

Together, before fees−0.721%+ Points / potential airdropLighter: Season 3 · Lighter RH: Points live · farm board−$72 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter RH is 0.053% dearer against Lighter than usual: you sell high and buy low (spread −0.005% now, against its 7-day average of −0.059%): +$5 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter CRCL	94.507	0.0384	pay 0.0048% / 1h	45m 09s	$3.1M	$2.2M	10x
Short	Lighter RH CRCL	94.502	0.0136	get 0.0017% / 1h	45m 09s	$891K	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.005%Rate

Funding earned: −$52.08
Price spread: −0.005% → −0.059%: $5.34
Slippage, 4 orders: −$12.76
Fee Lighter: 0 bp × 2 orders: $0
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$59.5
Costs to cover: 0.128%
Break-even: never at this rate

Slippage from Lighter: live order book, 2 min ago; Lighter RH: live order book, 3 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, 2 min ago	2.01 bp	2.2 bp −$2	14.0 bp −$140	41.5 bp −$4,150	doesn't fit
Sell Lighter RH live order book, 3 min ago	3.70 bp	3.9 bp −$4	6.7 bp −$67	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
Gate CRCL_USDT	0.0000%	8h	94.490	−0.018%	$7.2M	$27.5M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.440	−0.071%	$1.0M	$50K	10x	as long as short
QFEX CRCL-USD	+0.0033%	1h	94.440	−0.071%	$1.4M	$2.7M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.390	−0.124%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0046%	1h	94.446	−0.064%	$2K	$19K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.462	−0.048%	$362K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.452	−0.058%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.300	−0.219%	$1.1M	$5.8M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0056%	8h	94.380	−0.135%	$50K	$1.2M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0080%	1h	94.290	−0.230%	$938K	$742K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CRCLUSDT	+0.0081%	8h	94.490	−0.018%	$15.5M	$25.9M	50x	as long as short
Variational Omni CRCL	+0.0085%	8h	94.386	−0.128%	$2.5M	$3.2M	—	as long as short
Pacifica CRCL	+0.0100%	1h	94.480	−0.029%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.450	−0.060%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.260	−0.261%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.440	−0.071%	$942	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.487	−0.021%	$4	—	10x	as long as short
Extended CRCL_24_5-USD	+0.0128%	1h	94.472	−0.037%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0132%	8h	94.470	−0.039%	$108.5M	$388.4M	50x	as long as short
Lighter RH CRCLshort	+0.0136%	1h	94.502	−0.005%	$891K	$2.9M	10x
RISEx CRCL/USDC	+0.0159%	1h	94.475	−0.034%	$431K	$310K	10x	as long as short
Aster CRCLUSDT	+0.0160%	8h	94.444	−0.067%	$1.1M	$4.8M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0173%	8h	94.487	−0.021%	$775	$740	5x	as long as short
Phoenix CRCL	+0.0212%	1h	94.406	−0.107%	$28K	$92K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	94.480	−0.029%	$97K	$275K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0221%	8h	94.480	−0.029%	$22.8M	$60.5M	50x	as long as short
BloFin CRCL-USDT	+0.0252%	8h	94.500	−0.007%	$1.1M	$581K	20x	as long as short
tradeXYZ xyz:CRCL	+0.0262%	1h	94.445	−0.066%	$70.8M	$42.9M	10x	as long as short
Nado CRCL-PERP	+0.0327%	1h	94.452	−0.058%	$127K	$74K	3x	as long as short
Bitget CRCLUSDT	+0.0327%	8h	94.500	−0.007%	$16.7M	$35.1M	25x	as long as short
Lighter CRCLlong	+0.0384%	1h	94.507	long leg	$3.1M	$2.2M	10x
Injective CRCL/USDC PERP	+0.0440%	1h	94.850	+0.363%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0684%	4h	94.406	−0.106%	$24K	$268K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0703%	1h	94.490	−0.018%	$4K	$771K	10x	as long as short