CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0489%/8h= +53.5% APRnext payment +$0.61 per $10,000 · paid last 24h +0.062%

Price spread now: Arcus against Lighter RH−0.084%7-day average −0.085% · 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−$20as in the Price arb table

costs, in and out, $10k−$200.204% of the position

Long on Lighter RH Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.062%+$6 on $10k

Price spread, last 4 days (all we have)−0.170%−$17 · spread now −0.084%, 7d avg −0.085%

Together, before fees−0.107%+ Points / potential airdropLighter RH: Points live · farm board−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.085%, so right now this pair is about funding alone: +$15 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.062% in total (about 6.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.61 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 RH CRCL	94.499	0.0032	pay 0.0004% / 1h	25m 25s	$890K	$2.8M	10x
Short	Arcus CRCL-USD	94.420	0.0521	get 0.0065% / 1h	25m 25s	$96K	$273K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Lighter RH. 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 Lighter RHbpFee ArcusbpOrdersPrice spread, now −0.084%Rate

Funding earned: $102.6
Price spread: −0.084% → −0.085%: $0.17
Slippage, 4 orders: −$15.87
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $82.4
Costs to cover: 0.204%
Break-even: 1.4 days

Slippage from Lighter RH: live order book, 3 min ago; Arcus: live order book, 48 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 RH live order book, 3 min ago	2.81 bp	3.0 bp −$3	9.9 bp −$99	doesn't fit	doesn't fit
Sell Arcus live order book, 48 min ago	2.12 bp	6.3 bp −$6	9.0 bp −$90	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	−0.0064%	1h	94.210	−0.306%	$942K	$622K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	94.500	+0.001%	$15.5M	$25.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.510	+0.012%	$7.3M	$27.0M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.500	+0.001%	$67K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.480	−0.020%	$1.0M	$49K	10x	as long as short
Bitget CRCLUSDT	+0.0030%	8h	94.490	−0.010%	$17.0M	$34.6M	25x	as long as short
Lighter RH CRCLlong	+0.0032%	1h	94.499	long leg	$890K	$2.8M	10x
Aftermath Perps CRCLUSD	+0.0042%	1h	94.402	−0.103%	$2K	$22K	5x	as long as short
QFEX CRCL-USD	+0.0042%	1h	94.460	−0.041%	$1.4M	$2.6M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.390	−0.115%	—	$37K	25x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CRCL	+0.0050%	1h	94.458	−0.043%	$71.8M	$42.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.460	−0.041%	$366K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.499	0.000%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.390	−0.115%	$1.0M	$5.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.420	−0.084%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.460	−0.041%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.410	−0.094%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.480	−0.020%	$942	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.507	+0.008%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0106%	8h	94.494	−0.006%	$775	$740	5x	as long as short
Variational Omni CRCL	+0.0117%	8h	94.489	−0.010%	$2.5M	$3.1M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0149%	8h	94.480	−0.020%	$22.8M	$59.5M	50x	as long as short
Binance CRCLUSDT	+0.0188%	8h	94.480	−0.020%	$109.4M	$386.0M	50x	as long as short
Extended CRCL_24_5-USD	+0.0192%	1h	94.459	−0.042%	$1.1M	$5.9M	10x	as long as short
Aster CRCLUSDT	+0.0195%	8h	94.475	−0.025%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0234%	1h	94.411	−0.093%	$132K	$76K	3x	as long as short
Phoenix CRCL	+0.0296%	1h	94.424	−0.079%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0304%	1h	94.514	+0.016%	$3.1M	$2.2M	10x	as long as short
BloFin CRCL-USDT	+0.0311%	8h	94.510	+0.012%	$1.1M	$561K	20x	as long as short
edgeX CRCLUSDC	+0.0385%	4h	94.442	−0.061%	$24K	$267K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.890	+0.414%	$5K	$19K	30x	as long as short
Arcus CRCL-USDshort	+0.0521%	1h	94.420	−0.084%	$96K	$273K	10x
Deribit CRCL_USDC-PERPETUAL	+0.0597%	1h	94.480	−0.020%	$4K	$769K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	94.490	−0.010%	$431K	$299K	10x	as long as short