CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0251%/8h= +27.5% APRnext payment +$0.31 per $10,000 · paid last 24h +0.094%

Price spread now: Deribit against Lighter RH−0.106%7-day average −0.024% · 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−$34as in the Price arb table

costs, in and out, $10k−$250.254% of the position

Long on Lighter RH Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.125%+$12 on $10k

Price spread, last 3 days (all we have)+0.039%+$4 · spread now −0.106%, 7d avg −0.024%

Together, before fees+0.163%+ Points / potential airdropLighter RH: Points live · farm board+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.082% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.106% now, against its 7-day average of −0.024%). If the spread goes back, that is −$8 on $10k: about 26 hours of funding at the current rate (+$8 a day). At the pace of the last 5 days (+0.125% in total) that is about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH CRCL	93.970	0.0032	pay 0.0004% / 1h	5m 15s	$885K	$2.8M	10x
Short	Deribit CRCL_USDC-PERPETUAL	93.870	0.0283	get 0.0035% / 1h	5m 15s	$4K	$769K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.106%Rate

Funding earned: $52.7
Price spread: −0.106% → −0.024%: −$8.21
Slippage, 4 orders: −$18.39
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $19.1
Costs to cover: 0.254%
Break-even: 4.5 days

Slippage from Lighter RH: live order book, 3 min ago; Deribit: live order book, 4 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	3.03 bp	3.6 bp −$4	10.2 bp −$102	doesn't fit	doesn't fit
Sell Deribit live order book, 4 min ago	0.53 bp	13.6 bp −$14	16.0 bp −$160	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	94.000	+0.032%	$940K	$620K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	93.940	−0.032%	$15.4M	$25.4M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	93.990	+0.021%	$7.2M	$27.1M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	93.960	−0.011%	$16.7M	$34.4M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	93.920	−0.053%	$1.0M	$49K	10x	as long as short
Lighter RH CRCLlong	+0.0032%	1h	93.970	long leg	$885K	$2.8M	10x
GRVT CRCL_USDT_Perp	+0.0035%	8h	94.270	+0.319%	$62K	$1.1M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	94.059	+0.095%	$2K	$22K	5x	as long as short
QFEX CRCL-USD	+0.0042%	1h	93.960	−0.011%	$1.4M	$2.5M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	93.850	−0.128%	—	$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	93.841	−0.137%	$71.5M	$40.5M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	93.953	−0.018%	$364K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	93.918	−0.055%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	93.880	−0.096%	$1.1M	$5.7M	10x	as long as short
Variational Omni CRCL	+0.0078%	8h	93.978	+0.008%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0099%	8h	93.957	−0.014%	$770	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	93.952	−0.019%	$75K	$96K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.020	+0.053%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.140	+0.181%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	93.970	0.000%	$937	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	93.915	−0.058%	$4	—	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0128%	8h	93.930	−0.043%	$22.7M	$58.8M	50x	as long as short
Binance CRCLUSDT	+0.0158%	8h	93.950	−0.021%	$108.8M	$385.0M	50x	as long as short
Extended CRCL_24_5-USD	+0.0160%	1h	93.917	−0.057%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0161%	8h	94.031	+0.065%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0226%	1h	93.914	−0.060%	$131K	$76K	3x	as long as short
Deribit CRCL_USDC-PERPETUALshort	+0.0283%	1h	93.870	−0.106%	$4K	$769K	10x
BloFin CRCL-USDT	+0.0284%	8h	94.070	+0.106%	$1.1M	$576K	20x	as long as short
Phoenix CRCL	+0.0296%	1h	93.980	+0.011%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0328%	1h	93.996	+0.028%	$3.0M	$2.3M	10x	as long as short
edgeX CRCLUSDC	+0.0340%	4h	94.103	+0.142%	$24K	$267K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.670	+0.745%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.080	+0.117%	$96K	$271K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	93.965	−0.005%	$428K	$297K	10x	as long as short