CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0308%/8h= −33.7% APRnext payment −$0.39 per $10,000 · paid last 24h −0.067%

Price spread now: Lighter RH against Nado+0.071%7-day average +0.031% · 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−$22as in the Price arb table

costs, in and out, $10k−$260.260% of the position

Long on Nado Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.113%−$11 on $10k

Price spread, last 4 days (all we have)−0.059%−$6 · spread now +0.071%, 7d avg +0.031%

Together, before fees−0.172%+ Points / potential airdropNado: Active · Lighter RH: Points live · farm board−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter RH is 0.040% dearer against Nado than usual: you sell high and buy low (spread +0.071% now, against its 7-day average of +0.031%): +$4 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 3 days (−0.113% in total) that is about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado CRCL-PERP	91.596	0.0340	pay 0.0043% / 1h	4m 56s	$133K	$108K	3x
Short	Lighter RH CRCL	91.661	0.0032	get 0.0004% / 1h	4m 56s	$977K	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.071%Rate

Funding earned: −$64.7
Price spread: +0.071% → +0.031%: $3.98
Slippage, 4 orders: −$19.05
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$86.77
Costs to cover: 0.260%
Break-even: never at this rate

Slippage from Nado: live order book, 42 min ago; Lighter RH: live order book, 3 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, 42 min ago	3.28 bp	7.1 bp −$7	26.1 bp −$261	doesn't fit	doesn't fit
Sell Lighter RH live order book, 3 min ago	3.98 bp	5.0 bp −$5	7.7 bp −$77	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	−0.0861%	8h	91.730	+0.146%	$17.5M	$37.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0081%	1h	91.420	−0.192%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.640	+0.048%	$14.7M	$26.8M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.680	+0.092%	$7.7M	$27.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.719	+0.134%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.670	+0.081%	$1.0M	$48K	10x	as long as short
Lighter RH CRCLshort	+0.0032%	1h	91.661	+0.071%	$977K	$2.9M	10x
Aftermath Perps CRCLUSD	+0.0038%	1h	91.545	−0.056%	$2K	$27K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.610	+0.015%	$93K	$289K	10x	as long as short
Aster CRCLUSDT	+0.0045%	8h	91.595	−0.001%	$1.0M	$5.1M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX CRCL-USD	+0.0050%	1h	91.628	+0.035%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.630	+0.037%	$1.1M	$5.2M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	91.700	+0.113%	$1.3M	$1.8M	10x	as long as short
Extended CRCL_24_5-USD	+0.0056%	1h	91.624	+0.030%	$1.0M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0059%	8h	91.640	+0.048%	$104.7M	$397.7M	50x	as long as short
Polymarket Perps CRCL-USD	+0.0060%	1h	91.676	+0.087%	$384K	$1.3M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	91.590	−0.007%	$892K	$606K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0079%	1h	91.617	+0.023%	$67.9M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.730	+0.147%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.600	+0.004%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.570	−0.028%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.660	+0.070%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.646	+0.055%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	91.700	+0.113%	$418K	$277K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0147%	8h	91.730	+0.146%	$65K	$1.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0151%	8h	91.699	+0.112%	$422	$905	5x	as long as short
OKX CRCL-USDT-SWAP	+0.0157%	8h	91.660	+0.070%	$22.3M	$62.8M	50x	as long as short
BloFin CRCL-USDT	+0.0179%	8h	91.700	+0.113%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0210%	1h	91.654	+0.063%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0272%	1h	91.664	+0.074%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERPlong	+0.0340%	1h	91.596	long leg	$133K	$108K	3x
Injective CRCL/USDC PERP	+0.0440%	1h	92.150	+0.605%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0609%	4h	91.726	+0.142%	$52K	$277K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0733%	1h	91.620	+0.026%	$5K	$769K	10x	as long as short