CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0001%/8h= −0.1% APRnext payment −$0.00 per $10,000 · paid last 24h +0.006%

Price spread now: Nado against Lighter−0.089%7-day average −0.094% · 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−$31as in the Price arb table

costs, in and out, $10k−$320.316% of the position

Long on Lighter Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.016%+$2 on $10k

Price spread, last 4 days (all we have)+0.076%+$8 · spread now −0.089%, 7d avg −0.094%

Together, before fees+0.093%+ Points / potential airdropLighter: Season 3 · Nado: Active · farm board+$9 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter CRCL	93.304	0.0272	pay 0.0034% / 1h	49m 10s	$3.0M	$2.1M	10x
Short	Nado CRCL-PERP	93.221	0.0271	get 0.0034% / 1h	49m 10s	$155K	$94K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.089%Rate

Funding earned: −$0.27
Price spread: −0.089% → −0.094%: $0.48
Slippage, 4 orders: −$24.55
Fee Lighter: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$31.35
Costs to cover: 0.316%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Nado: live order book, 61 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, 6 min ago	2.15 bp	2.1 bp −$2	8.0 bp −$80	37.9 bp −$3,789	doesn't fit
Sell Nado live order book, 61 min ago	3.80 bp	10.0 bp −$10	27.1 bp −$271	doesn't fit	doesn't fit

CRCL on 34 exchanges

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	−0.0048%	1h	92.950	−0.379%	$869K	$749K	10x	as long as short
Vest CRCL-USD-PERP	−0.0006%	1h	93.220	−0.090%	—	$30K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	93.230	−0.079%	$15.1M	$25.1M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	93.270	−0.036%	$18.6M	$33.4M	25x	as long as short
Deribit CRCL_USDC-PERPETUAL	0.0000%	1h	93.220	−0.090%	$5K	$415K	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	93.220	−0.090%	$1.0M	$45K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	93.274	−0.032%	$1.0M	$2.5M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	93.141	−0.175%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	93.189	−0.123%	$68.1M	$40.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	93.233	−0.076%	$383K	$847K	10x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX CRCL-USD	+0.0050%	1h	93.224	−0.086%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	93.200	−0.111%	$1.0M	$3.8M	10x	as long as short
QFEX CRCL-USD	+0.0055%	1h	93.230	−0.079%	$1.3M	$1.6M	10x	as long as short
Injective CRCL/USDC PERP	+0.0072%	1h	92.090	−1.301%	$38K	$172K	30x	as long as short
Gate CRCL_USDT	+0.0092%	8h	93.300	−0.004%	$7.6M	$25.3M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	93.227	−0.082%	$140K	$139K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	93.200	−0.111%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	93.110	−0.208%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	93.220	−0.090%	$929	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	93.244	−0.064%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0116%	8h	93.241	−0.067%	$429	$477	5x	as long as short
Phoenix CRCL	+0.0197%	1h	93.210	−0.101%	$28K	$66K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	93.220	−0.090%	$94K	$212K	10x	as long as short
Nado CRCL-PERPshort	+0.0271%	1h	93.221	−0.089%	$155K	$94K	3x
Lighter CRCLlong	+0.0272%	1h	93.304	long leg	$3.0M	$2.1M	10x
Variational Omni CRCL	+0.0308%	8h	93.171	−0.142%	$2.5M	$3.3M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0320%	8h	93.230	−0.079%	$23.0M	$57.1M	50x	as long as short
Aster CRCLUSDT	+0.0385%	8h	93.179	−0.134%	$1.1M	$4.5M	20x	as long as short
Extended CRCL_24_5-USD	+0.0392%	1h	93.199	−0.112%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0395%	8h	93.245	−0.063%	$107.9M	$351.8M	50x	as long as short
BloFin CRCL-USDT	+0.0514%	8h	93.230	−0.079%	$1.1M	$1.7M	20x	as long as short
RISEx CRCL/USDC	+0.0528%	1h	93.245	−0.063%	$418K	$235K	10x	as long as short
edgeX CRCLUSDC	+0.0752%	4h	93.110	−0.208%	$53K	$269K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0793%	8h	93.146	−0.170%	$61K	$1.0M	10x	as long as short