CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0018%/8h= +2.0% APRnext payment +$0.02 per $10,000 · paid last 24h +0.018%

Price spread now: Ondo Perps against Lighter RH−0.093%56s7-day average −0.152% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter RH Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 7 days−0.248%−$25 · spread now −0.093%, 7d avg −0.152%

Together, before fees−0.245%+ Points / potential airdropLighter RH: Points live · Ondo Perps: Active · farm board−$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Ondo Perps is 0.059% dearer against Lighter RH than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.152%. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH CRCL	94.648	0.0032	pay 0.0004% / 1h	15m 46s	$894K	$2.9M	10x
Short	Ondo Perps CRCL-USD.P	94.560	0.0050	get 0.0006% / 1h	15m 46s	$1.1M	$5.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Lighter RH. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.093%Rate

Funding earned: $3.86
Price spread: −0.093% → −0.152%: $5.87
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $4.73
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Lighter RH: live order book, 2 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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, 2 min ago	2.90 bp	3.6 bp −$4	7.1 bp −$71	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Gate CRCL_USDT	0.0000%	8h	94.670	+0.023%	$7.2M	$27.8M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.620	−0.030%	$1.0M	$52K	10x	as long as short
QFEX CRCL-USD	+0.0022%	1h	94.660	+0.013%	$1.4M	$2.8M	10x	as long as short
Lighter RH CRCLlong	+0.0032%	1h	94.648	long leg	$894K	$2.9M	10x
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	94.510	−0.146%	$940K	$723K	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.630	−0.019%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.645	−0.003%	$367K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.627	−0.022%	$48K	$3K	10x	as long as short
Ondo Perps CRCL-USD.Pshort	+0.0050%	1h	94.560	−0.093%	$1.1M	$5.9M	10x
Aftermath Perps CRCLUSD	+0.0053%	1h	94.670	+0.023%	$2K	$21K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica CRCL	+0.0100%	1h	94.680	+0.034%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.690	+0.044%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.650	+0.002%	$70K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.640	−0.008%	$944	$3K	10x	as long as short
Bybit CRCLUSDT	+0.0101%	8h	94.650	+0.002%	$15.6M	$25.9M	50x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.644	−0.005%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0119%	8h	94.701	+0.056%	$777	$740	5x	as long as short
tradeXYZ xyz:CRCL	+0.0158%	1h	94.620	−0.030%	$71.7M	$43.6M	10x	as long as short
Variational Omni CRCL	+0.0193%	8h	94.671	+0.025%	$2.5M	$3.1M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0194%	8h	94.620	−0.030%	$22.9M	$60.8M	50x	as long as short
edgeX CRCLUSDC	+0.0206%	4h	94.751	+0.109%	$24K	$268K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0247%	8h	94.799	+0.160%	$55K	$1.1M	10x	as long as short
Extended CRCL_24_5-USD	+0.0248%	1h	94.622	−0.027%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0252%	8h	94.620	−0.030%	$109.7M	$390.7M	50x	as long as short
Aster CRCLUSDT	+0.0253%	8h	94.650	+0.002%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0269%	1h	94.658	+0.011%	$133K	$76K	3x	as long as short
Phoenix CRCL	+0.0288%	1h	94.711	+0.067%	$28K	$92K	10x	as long as short
Bitget CRCLUSDT	+0.0303%	8h	94.660	+0.013%	$16.9M	$35.5M	25x	as long as short
Lighter CRCL	+0.0344%	1h	94.665	+0.018%	$3.1M	$2.2M	10x	as long as short
BloFin CRCL-USDT	+0.0370%	8h	94.610	−0.040%	$1.1M	$600K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	95.560	+0.964%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0533%	1h	94.650	+0.002%	$97K	$276K	10x	as long as short
RISEx CRCL/USDC	+0.0534%	1h	94.710	+0.066%	$432K	$303K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0701%	1h	94.680	+0.034%	$4K	$772K	10x	as long as short