CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0215%/8h= −23.5% APRnext payment −$0.27 per $10,000 · paid last 24h −0.051%

Price spread now: Coinbase International against Nado−0.187%7-day average −0.025% · 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−$51as in the Price arb table

costs, in and out, $10k−$350.348% of the position

Long on Nado Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.034%−$3 on $10k

Price spread, last 3 days (all we have)+0.163%+$16 · spread now −0.187%, 7d avg −0.025%

Together, before fees+0.129%+ Points / potential airdropNado: Active · farm board+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Coinbase International is 0.163% cheaper against Nado than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.025%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.034% in total (about -3.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.27 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	92.063	0.0207	pay 0.0026% / 1h	40m 45s	$142K	$94K	3x
Short	Coinbase International CRCL-PERP-INTX	91.890	−0.0008	pay 0.0001% / 1h	40m 45s	$915K	$585K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.187%Rate

Funding earned: −$45.1
Price spread: −0.187% → −0.025%: −$16.29
Slippage, 4 orders: −$17.8
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$96.19
Costs to cover: 0.348%
Break-even: never at this rate

Slippage from Nado: live order book, 27 min ago; Coinbase International: live order book, 28 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, 27 min ago	1.60 bp	9.0 bp −$9	29.0 bp −$290	doesn't fit	doesn't fit
Sell Coinbase International live order book, 28 min ago	1.06 bp	13.5 bp −$13	21.8 bp −$218	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	−0.0107%	8h	91.910	−0.166%	$16.2M	$35.2M	25x	as long as short
Coinbase International CRCL-PERP-INTXshort	−0.0008%	1h	91.890	−0.187%	$915K	$585K	10x
Bybit CRCLUSDT	0.0000%	8h	91.790	−0.296%	$15.0M	$25.7M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.024	−0.042%	$420K	$300K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.950	−0.122%	$7.2M	$26.2M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	92.081	+0.020%	$63K	$1.1M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	0.0000%	1h	91.900	−0.177%	$4K	$769K	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.970	−0.101%	$1.0M	$49K	10x	as long as short
Variational Omni CRCL	+0.0004%	8h	91.891	−0.187%	$2.5M	$3.2M	—	as long as short
Vest CRCL-USD-PERP	+0.0014%	1h	91.790	−0.296%	—	$37K	25x	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	+0.0027%	1h	92.234	+0.187%	$2K	$22K	5x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.813	−0.271%	$971K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.110	+0.052%	$94K	$272K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.759	−0.330%	$69.3M	$41.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.980	−0.090%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.910	−0.166%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.950	−0.122%	$1.0M	$5.5M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.980	−0.090%	$1.3M	$2.4M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0083%	8h	91.750	−0.340%	$21.7M	$59.9M	50x	as long as short
Binance CRCLUSDT	+0.0085%	8h	91.789	−0.298%	$105.1M	$392.1M	50x	as long as short
Paradex CRCL-USD-PERP	+0.0086%	8h	92.051	−0.012%	$755	$740	5x	as long as short
Aster CRCLUSDT	+0.0086%	8h	91.912	−0.164%	$1.1M	$4.9M	20x	as long as short
Extended CRCL_24_5-USD	+0.0088%	1h	91.857	−0.223%	$1.1M	$5.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.792	−0.293%	$129K	$154K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.960	−0.111%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.210	+0.160%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.910	−0.166%	$916	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.880	−0.199%	$4	—	10x	as long as short
Nado CRCL-PERPlong	+0.0207%	1h	92.063	long leg	$142K	$94K	3x
Lighter CRCL	+0.0216%	1h	91.819	−0.265%	$3.0M	$2.3M	10x	as long as short
BloFin CRCL-USDT	+0.0222%	8h	92.330	+0.291%	$1.1M	$1.1M	20x	as long as short
Phoenix CRCL	+0.0231%	1h	91.994	−0.074%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	93.910	+2.007%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0628%	4h	92.314	+0.273%	$23K	$267K	10x	as long as short