CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0320%/8h= −35.0% APRnext payment −$0.40 per $10,000 · paid last 24h +0.001%

Price spread now: Arcus against Nado+0.113%7-day average −0.042% · you sell dearer than you buy

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−$370.369% of the position

Long on Nado Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.041%−$4 on $10k

Price spread, last 4 days (all we have)−0.229%−$23 · spread now +0.113%, 7d avg −0.042%

Together, before fees−0.269%+ Points / potential airdropNado: Active · farm board−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.155% dearer against Nado than usual: you sell high and buy low (spread +0.113% now, against its 7-day average of −0.042%): +$16 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 39 hours. At the pace of the last 3 days (−0.041% in total) that is about 13 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.041% in total (about -4.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.40 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado CRCL-PERP	91.776	0.0360	pay 0.0045% / 1h	24m 05s	$134K	$107K	3x
Short	Arcus CRCL-USD	91.880	0.0040	get 0.0005% / 1h	24m 05s	$93K	$273K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Nado. 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 NadobpFee ArcusbpOrdersPrice spread, now +0.113%Rate

Funding earned: −$67.13
Price spread: +0.113% → −0.042%: $15.54
Slippage, 4 orders: −$25.4
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$88.49
Costs to cover: 0.369%
Break-even: never at this rate

Slippage from Nado: live order book, 28 min ago; Arcus: live order book, 29 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 Nado live order book, 28 min ago	2.71 bp	7.6 bp −$8	27.5 bp −$275	doesn't fit	doesn't fit
Sell Arcus live order book, 29 min ago	2.71 bp	10.4 bp −$10	11.7 bp −$117	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
Bitget CRCLUSDT	−0.0690%	8h	91.880	+0.113%	$16.6M	$35.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0061%	1h	91.590	−0.203%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.840	+0.070%	$14.9M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.900	+0.135%	$7.3M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.918	+0.155%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.860	+0.091%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0021%	8h	91.894	+0.129%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0029%	8h	91.840	+0.070%	$104.7M	$392.5M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.855	+0.086%	$974K	$2.9M	10x	as long as short
Extended CRCL_24_5-USD	+0.0032%	1h	91.809	+0.036%	$1.2M	$5.7M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0039%	1h	91.852	+0.082%	$2K	$25K	5x	as long as short
Arcus CRCL-USDshort	+0.0040%	1h	91.880	+0.113%	$93K	$273K	10x
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.730	−0.050%	$905K	$514K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.767	−0.010%	$68.2M	$41.9M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.822	+0.050%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.798	+0.024%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.950	+0.189%	$1.0M	$5.2M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.840	+0.070%	$1.3M	$1.9M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0061%	8h	91.791	+0.016%	$422	$905	5x	as long as short
OKX CRCL-USDT-SWAP	+0.0094%	8h	91.850	+0.080%	$22.3M	$61.7M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.840	+0.070%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.860	+0.091%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.980	+0.222%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.860	+0.091%	$916	$2K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0101%	8h	92.040	+0.287%	$70K	$1.1M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.812	+0.039%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.860	+0.091%	$418K	$299K	10x	as long as short
BloFin CRCL-USDT	+0.0126%	8h	91.840	+0.070%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0182%	1h	91.950	+0.189%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0272%	1h	91.848	+0.078%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERPlong	+0.0360%	1h	91.776	long leg	$134K	$107K	3x
Injective CRCL/USDC PERP	+0.0440%	1h	92.480	+0.767%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0513%	1h	91.830	+0.059%	$4K	$768K	10x	as long as short
edgeX CRCLUSDC	+0.0944%	4h	92.023	+0.269%	$51K	$275K	10x	as long as short