CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0324%/8h= −35.5% APRnext payment −$0.41 per $10,000 · paid last 24h −0.051%

Price spread now: Pacifica against Lighter+0.109%7-day average −0.095% · you sell dearer than you buy

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$520.516% of the position

Long on Lighter Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.595%−$59 on $10k

Price spread, last 4 days (all we have)−0.221%−$22 · spread now +0.109%, 7d avg −0.095%

Together, before fees−0.816%+ Points / potential airdropLighter: Season 3 · Pacifica: Active · farm board−$82 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.204% dearer against Lighter than usual: you sell high and buy low (spread +0.109% now, against its 7-day average of −0.095%): +$20 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter CRCL	95.521	0.0424	pay 0.0053% / 1h	50m 11s	$3.3M	$2.4M	10x
Short	Pacifica CRCL	95.625	0.0100	get 0.0013% / 1h	50m 11s	$142K	$149K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.109%Rate

Funding earned: −$68.04
Price spread: +0.109% → −0.095%: $20.39
Slippage, 4 orders: −$43.61
Fee Lighter: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$99.26
Costs to cover: 0.516%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; Pacifica: live order book, 55 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, 5 min ago	2.14 bp	3.1 bp −$3	8.0 bp −$80	34.4 bp −$3,438	doesn't fit
Sell Pacifica live order book, 55 min ago	8.07 bp	25.7 bp −$26	doesn't fit	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	−0.0024%	1h	95.490	−0.032%	$871K	$805K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	95.390	−0.137%	$15.7M	$28.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	95.671	+0.157%	$425K	$228K	10x	as long as short
Bitget CRCLUSDT	0.0000%	8h	95.360	−0.169%	$19.2M	$39.3M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	95.320	−0.210%	$1.1M	$47K	10x	as long as short
QFEX CRCL-USD	+0.0014%	1h	95.610	+0.093%	$1.4M	$1.7M	10x	as long as short
Gate CRCL_USDT	+0.0028%	8h	95.510	−0.012%	$7.7M	$26.4M	50x	as long as short
Injective CRCL/USDC PERP	+0.0033%	1h	95.630	+0.114%	$39K	$172K	30x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	95.146	−0.393%	$2K	$29K	5x	as long as short
Lighter RH CRCL	+0.0040%	1h	95.389	−0.138%	$1.0M	$2.6M	10x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest CRCL-USD-PERP	+0.0046%	1h	95.690	+0.177%	—	$29K	25x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	95.601	+0.084%	$69.5M	$44.2M	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	95.470	−0.053%	$1.1M	$4.3M	10x	as long as short
Arcus CRCL-USD	+0.0057%	1h	95.620	+0.104%	$96K	$233K	10x	as long as short
Pacifica CRCLshort	+0.0100%	1h	95.625	+0.109%	$142K	$149K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	95.380	−0.148%	$2.5M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	95.850	+0.344%	$98K	$26K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	95.440	−0.085%	$752	$2K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0103%	8h	95.600	+0.083%	$440	$477	5x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	95.562	+0.042%	$4	—	10x	as long as short
Phoenix CRCL	+0.0136%	1h	95.413	−0.113%	$28K	$94K	10x	as long as short
Variational Omni CRCL	+0.0157%	8h	95.650	+0.135%	$2.7M	$3.3M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0209%	8h	95.370	−0.158%	$23.6M	$67.0M	50x	as long as short
Extended CRCL_24_5-USD	+0.0256%	1h	95.467	−0.057%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0260%	8h	95.380	−0.148%	$111.9M	$392.1M	50x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0274%	1h	95.420	−0.106%	$5K	$415K	10x	as long as short
Aster CRCLUSDT	+0.0277%	8h	95.345	−0.184%	$1.2M	$4.7M	20x	as long as short
edgeX CRCLUSDC	+0.0287%	4h	95.658	+0.144%	$55K	$278K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0324%	8h	95.670	+0.156%	$66K	$1.0M	10x	as long as short
Nado CRCL-PERP	+0.0357%	1h	95.607	+0.090%	$153K	$93K	3x	as long as short
BloFin CRCL-USDT	+0.0375%	8h	95.540	+0.020%	$1.1M	$1.8M	20x	as long as short
Polymarket Perps CRCL-USD	+0.0393%	1h	95.700	+0.187%	$284K	$1.1M	10x	as long as short
Lighter CRCLlong	+0.0424%	1h	95.521	long leg	$3.3M	$2.4M	10x
SoDEX CRCL-USD	+0.2373%	1h	95.462	−0.062%	$48K	$3K	10x	as long as short