CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0023%/8h= +2.5% APRnext payment +$0.03 per $10,000 · paid last 24h +0.005%

Price spread now: QFEX against Lighter RH−0.039%7-day average −0.050% · 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−$220.216% of the position

Long on Lighter RH Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.020%−$2 on $10k

Price spread, last 7 days−0.009%−$1 · spread now −0.039%, 7d avg −0.050%

Together, before fees−0.029%+ Points / potential airdropLighter RH: Points live · farm board−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.050%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH CRCL	92.616	0.0032	pay 0.0004% / 1h	27m 31s	$999K	$2.5M	10x
Short	QFEX CRCL-USD	92.580	0.0055	get 0.0007% / 1h	27m 31s	$1.3M	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.039%Rate

Funding earned: $4.87
Price spread: −0.039% → −0.050%: $1.12
Slippage, 4 orders: −$11.55
Fee Lighter RH: 0 bp × 2 orders: $0
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$15.56
Costs to cover: 0.216%
Break-even: 29.4 days

Slippage from Lighter RH: live order book, 4 min ago; QFEX: live order book, 7 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, 4 min ago	4.16 bp	4.2 bp −$4	6.7 bp −$67	doesn't fit	doesn't fit
Sell QFEX live order book, 7 min ago	1.62 bp	6.6 bp −$7	6.6 bp −$66	13.0 bp −$1,301	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	−0.0048%	1h	92.570	−0.050%	$866K	$745K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.600	−0.017%	$15.0M	$25.1M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.610	−0.006%	$18.5M	$33.5M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.580	−0.039%	$1.0M	$45K	10x	as long as short
Vest CRCL-USD-PERP	+0.0015%	1h	92.450	−0.179%	—	$30K	25x	as long as short
Lighter RH CRCLlong	+0.0032%	1h	92.616	long leg	$999K	$2.5M	10x
Aftermath Perps CRCLUSD	+0.0041%	1h	92.591	−0.027%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.539	−0.083%	$67.6M	$39.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.582	−0.037%	$329K	$951K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.576	−0.043%	$46K	$3K	10x	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	92.490	−0.136%	$999K	$3.8M	10x	as long as short
QFEX CRCL-USDshort	+0.0055%	1h	92.580	−0.039%	$1.3M	$1.6M	10x
Injective CRCL/USDC PERP	+0.0072%	1h	92.090	−0.568%	$38K	$172K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0074%	1h	92.600	−0.017%	$5K	$415K	10x	as long as short
Gate CRCL_USDT	+0.0082%	8h	92.660	+0.048%	$7.5M	$25.5M	50x	as long as short
Paradex CRCL-USD-PERP	+0.0091%	8h	92.577	−0.042%	$426	$477	5x	as long as short
Pacifica CRCL	+0.0100%	1h	92.550	−0.071%	$139K	$139K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.590	−0.028%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.530	−0.093%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.600	−0.017%	$923	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.605	−0.012%	$4	—	10x	as long as short
edgeX CRCLUSDC	+0.0125%	4h	92.613	−0.004%	$53K	$268K	10x	as long as short
Phoenix CRCL	+0.0197%	1h	92.540	−0.082%	$27K	$66K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	92.550	−0.071%	$93K	$205K	10x	as long as short
Variational Omni CRCL	+0.0256%	8h	92.573	−0.046%	$2.5M	$3.2M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0276%	8h	92.570	−0.050%	$22.7M	$56.5M	50x	as long as short
Nado CRCL-PERP	+0.0291%	1h	92.451	−0.178%	$154K	$94K	3x	as long as short
Lighter CRCL	+0.0296%	1h	92.630	+0.015%	$3.0M	$2.1M	10x	as long as short
Binance CRCLUSDT	+0.0314%	8h	92.570	−0.050%	$106.6M	$350.2M	50x	as long as short
Aster CRCLUSDT	+0.0320%	8h	92.633	+0.018%	$1.1M	$4.5M	20x	as long as short
Extended CRCL_24_5-USD	+0.0320%	1h	92.563	−0.057%	$1.1M	$4.0M	10x	as long as short
BloFin CRCL-USDT	+0.0440%	8h	92.640	+0.026%	$1.1M	$1.7M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0482%	8h	92.620	+0.004%	$68K	$979K	10x	as long as short
RISEx CRCL/USDC	+0.0528%	1h	92.597	−0.021%	$415K	$225K	10x	as long as short