CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0018%/8h= +2.0% APRnext payment +$0.02 per $10,000 · paid last 24h +0.017%

Price spread now: tradeXYZ against Lighter RH−0.092%7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$300.300% of the position

Long on Lighter RH Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.082%+$8 on $10k

Price spread, last 7 days+0.011%+$1 · spread now −0.092%, 7d avg −0.064%

Together, before fees+0.093%+ Points / potential airdropLighter RH: Points live · tradeXYZ: Active · farm board+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.028% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.092% now, against its 7-day average of −0.064%). If the spread goes back, that is −$3 on $10k: about 5.2 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.082% in total) that is about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH CRCL	91.126	0.0032	pay 0.0004% / 1h	49m 13s	$969K	$2.9M	10x
Short	tradeXYZ xyz:CRCL	91.042	0.0050	get 0.0006% / 1h	49m 13s	$68.2M	$41.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.092%Rate

Funding earned: $3.78
Price spread: −0.092% → −0.064%: −$2.79
Slippage, 4 orders: −$12.04
Fee Lighter RH: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$29.05
Costs to cover: 0.300%
Break-even: 60.8 days

Slippage from Lighter RH: live order book, 4 min ago; tradeXYZ: live order book, 10 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	3.28 bp	4.0 bp −$4	8.3 bp −$83	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 10 min ago	1.03 bp	12.1 bp −$12	doesn't fit	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	−0.1192%	8h	91.160	+0.037%	$15.6M	$34.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0076%	1h	90.870	−0.281%	—	$35K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.160	+0.037%	$900K	$539K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.100	−0.029%	$14.9M	$25.7M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.110	−0.018%	$416K	$297K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.140	+0.015%	$7.0M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.307	+0.199%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.340	+0.235%	$66K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.100	−0.029%	$1.0M	$49K	10x	as long as short
Binance CRCLUSDT	+0.0014%	8h	91.086	−0.043%	$103.5M	$383.6M	50x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CRCL_24_5-USD	+0.0016%	1h	91.052	−0.081%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0021%	8h	91.076	−0.055%	$1.1M	$4.9M	20x	as long as short
Aftermath Perps CRCLUSD	+0.0022%	1h	91.379	+0.277%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.100	−0.029%	$1.3M	$2.2M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0027%	8h	91.100	−0.029%	$21.4M	$58.9M	50x	as long as short
Lighter RH CRCLlong	+0.0032%	1h	91.126	long leg	$969K	$2.9M	10x
Arcus CRCL-USD	+0.0040%	1h	91.320	+0.213%	$93K	$271K	10x	as long as short
tradeXYZ xyz:CRCLshort	+0.0050%	1h	91.042	−0.092%	$68.2M	$41.1M	10x
Polymarket Perps CRCL-USD	+0.0050%	1h	91.086	−0.044%	$353K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.093	−0.036%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.160	+0.037%	$973K	$5.1M	10x	as long as short
edgeX CRCLUSDC	+0.0055%	4h	91.376	+0.275%	$23K	$267K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0070%	8h	91.133	+0.007%	$747	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.118	−0.009%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.190	+0.070%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.500	+0.410%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.070	−0.061%	$908	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.056	−0.077%	$4	—	10x	as long as short
Phoenix CRCL	+0.0183%	1h	91.079	−0.052%	$27K	$84K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0189%	1h	91.090	−0.040%	$4K	$767K	10x	as long as short
Nado CRCL-PERP	+0.0202%	1h	91.154	+0.031%	$130K	$103K	3x	as long as short
Lighter CRCL	+0.0280%	1h	91.137	+0.012%	$2.9M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.820	+0.762%	$5K	$19K	30x	as long as short