CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0517%/8h= −56.6% APRnext payment −$0.65 per $10,000 · paid last 24h −0.053%

Price spread now: tradeXYZ against Lighter+0.008%7-day average −0.122% · you sell dearer than you buy

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$400.403% of the position

Long on Lighter Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.608%−$61 on $10k

Price spread, last 7 days−0.033%−$3 · spread now +0.008%, 7d avg −0.122%

Together, before fees−0.642%+ Points / potential airdropLighter: Season 3 · tradeXYZ: Active · farm board−$64 on $10k · with fees, hour by hour

The price spread pays, funding is against you. tradeXYZ is 0.130% dearer against Lighter than usual: you sell high and buy low (spread +0.008% now, against its 7-day average of −0.122%): +$13 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter CRCL	95.501	0.0592	pay 0.0074% / 1h	56m 42s	$3.3M	$2.4M	10x
Short	tradeXYZ xyz:CRCL	95.509	0.0075	get 0.0009% / 1h	56m 42s	$69.5M	$44.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.008%Rate

Funding earned: −$108.64
Price spread: +0.008% → −0.122%: $13
Slippage, 4 orders: −$22.28
Fee Lighter: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$135.91
Costs to cover: 0.403%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; tradeXYZ: live order book, 6 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, 4 min ago	3.98 bp	4.1 bp −$4	13.1 bp −$131	42.1 bp −$4,213	doesn't fit
Sell tradeXYZ live order book, 6 min ago	3.79 bp	14.7 bp −$15	17.2 bp −$172	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	95.890	+0.407%	$875K	$808K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	95.800	+0.313%	$15.6M	$28.2M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	95.810	+0.324%	$426K	$228K	10x	as long as short
Bitget CRCLUSDT	0.0000%	8h	95.710	+0.219%	$18.9M	$37.9M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	96.000	+0.523%	$1.1M	$47K	10x	as long as short
QFEX CRCL-USD	+0.0014%	1h	95.780	+0.292%	$1.4M	$1.7M	10x	as long as short
Vest CRCL-USD-PERP	+0.0030%	1h	95.640	+0.146%	—	$30K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0032%	1h	94.234	−1.327%	$2K	$29K	5x	as long as short
Injective CRCL/USDC PERP	+0.0033%	1h	95.630	+0.135%	$39K	$172K	30x	as long as short
Gate CRCL_USDT	+0.0034%	8h	95.930	+0.449%	$7.8M	$25.6M	50x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	95.820	+0.334%	$1.0M	$4.3M	10x	as long as short
Lighter RH CRCL	+0.0056%	1h	95.457	−0.046%	$1.0M	$2.6M	10x	as long as short
Arcus CRCL-USD	+0.0057%	1h	95.740	+0.250%	$96K	$229K	10x	as long as short
tradeXYZ xyz:CRCLshort	+0.0075%	1h	95.509	+0.008%	$69.5M	$44.2M	10x
Paradex CRCL-USD-PERP	+0.0098%	8h	95.729	+0.239%	$440	$477	5x	as long as short
Pacifica CRCL	+0.0100%	1h	95.570	+0.072%	$142K	$149K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	95.540	+0.041%	$2.5M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.440	−1.111%	$88K	$21K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	95.950	+0.470%	$756	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	96.184	+0.715%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0176%	8h	94.730	−0.807%	$2.6M	$3.2M	—	as long as short
Phoenix CRCL	+0.0197%	1h	94.470	−1.080%	$28K	$94K	10x	as long as short
Nado CRCL-PERP	+0.0209%	1h	95.874	+0.390%	$156K	$90K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0232%	8h	95.850	+0.365%	$23.4M	$65.8M	50x	as long as short
Extended CRCL_24_5-USD	+0.0256%	1h	95.786	+0.299%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0266%	8h	95.866	+0.382%	$111.0M	$382.4M	50x	as long as short
Aster CRCLUSDT	+0.0279%	8h	95.690	+0.198%	$1.2M	$4.7M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0289%	8h	94.746	−0.791%	$65K	$998K	10x	as long as short
BloFin CRCL-USDT	+0.0370%	8h	96.030	+0.554%	$1.2M	$1.8M	20x	as long as short
edgeX CRCLUSDC	+0.0388%	4h	94.237	−1.324%	$54K	$277K	10x	as long as short
Lighter CRCLlong	+0.0592%	1h	95.501	long leg	$3.3M	$2.4M	10x
Polymarket Perps CRCL-USD	+0.0651%	1h	96.057	+0.582%	$309K	$1.0M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0999%	1h	96.210	+0.742%	$5K	$415K	10x	as long as short
SoDEX CRCL-USD	+0.6408%	1h	95.271	−0.241%	$48K	$3K	10x	as long as short