CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.04 per $10,000 · paid last 24h +0.086%

Price spread now: RISEx against Lighter RH−0.036%7-day average +0.009% · 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−$21as in the Price arb table

costs, in and out, $10k−$170.166% of the position

Long on Lighter RH Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.264%+$26 on $10k

Price spread, last 4 days (all we have)−0.070%−$7 · spread now −0.036%, 7d avg +0.009%

Together, before fees+0.194%+ Points / potential airdropLighter RH: Points live · farm board+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and RISEx is 0.044% cheaper against Lighter RH than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.009%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.264%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH CRCL	91.527	0.0032	pay 0.0004% / 1h	51m 27s	$971K	$2.9M	10x
Short	RISEx CRCL/USDC	91.494	0	get 0.0000% / 1h	51m 27s	$418K	$297K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$6.72
Price spread: −0.036% → +0.009%: −$4.42
Slippage, 4 orders: −$10.57
Fee Lighter RH: 0 bp × 2 orders: $0
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$27.71
Costs to cover: 0.166%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 2 min ago; RISEx: live order book, 12 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, 2 min ago	3.28 bp	4.0 bp −$4	8.3 bp −$83	doesn't fit	doesn't fit
Sell RISEx live order book, 12 min ago	1.63 bp	4.6 bp −$5	6.4 bp −$64	doesn't fit	doesn't fit

CRCL on 33 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
Bitget CRCLUSDT	−0.1146%	8h	91.530	+0.003%	$15.7M	$34.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0074%	1h	91.250	−0.303%	—	$38K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.330	−0.215%	$901K	$540K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.400	−0.139%	$14.9M	$25.7M	50x	as long as short
RISEx CRCL/USDCshort	0.0000%	1h	91.494	−0.036%	$418K	$297K	10x
Gate CRCL_USDT	0.0000%	8h	91.390	−0.150%	$7.1M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.580	+0.058%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.480	−0.051%	$67K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.490	−0.040%	$1.0M	$49K	10x	as long as short
Extended CRCL_24_5-USD	+0.0016%	1h	91.463	−0.070%	$1.1M	$5.7M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CRCLUSDT	+0.0017%	8h	91.361	−0.182%	$103.8M	$383.3M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0023%	1h	91.516	−0.012%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.460	−0.073%	$1.3M	$2.2M	10x	as long as short
Aster CRCLUSDT	+0.0027%	8h	91.490	−0.041%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0031%	8h	91.420	−0.117%	$21.7M	$58.8M	50x	as long as short
Lighter RH CRCLlong	+0.0032%	1h	91.527	long leg	$971K	$2.9M	10x
Arcus CRCL-USD	+0.0040%	1h	91.470	−0.062%	$93K	$270K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.226	−0.329%	$68.3M	$41.0M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.474	−0.058%	$355K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.461	−0.072%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.400	−0.139%	$973K	$5.2M	10x	as long as short
edgeX CRCLUSDC	+0.0055%	4h	91.376	−0.165%	$23K	$267K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0070%	8h	91.555	+0.031%	$751	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.551	+0.026%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.560	+0.036%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.500	−0.029%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.410	−0.128%	$911	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.372	−0.169%	$4	—	10x	as long as short
Phoenix CRCL	+0.0183%	1h	91.382	−0.158%	$27K	$84K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0188%	1h	91.420	−0.117%	$4K	$767K	10x	as long as short
Nado CRCL-PERP	+0.0191%	1h	91.465	−0.068%	$130K	$103K	3x	as long as short
Lighter CRCL	+0.0288%	1h	91.553	+0.028%	$2.9M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.900	+0.408%	$5K	$19K	30x	as long as short