CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0257%/8h= −28.2% APRnext payment −$0.32 per $10,000 · paid last 24h −0.058%

Price spread now: Pacifica against Nado−0.241%50s7-day average 0.000% · 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—prices read too far apart to compare

costs, in and out, $10k−$610.614% of the position

Long on Nado Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.068%−$7 on $10k

Price spread, last 4 days (all we have)+0.206%+$21 · spread now −0.241%, 7d avg 0.000%

Together, before fees+0.139%+ Points / potential airdropNado: Active · Pacifica: Active · farm board+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Pacifica is 0.240% cheaper against Nado than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of 0.000%). Swap the legs. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.068% in total (about -6.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.32 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado CRCL-PERP	95.607	0.0357	pay 0.0045% / 1h	49m 36s	$153K	$93K	3x
Short	Pacifica CRCL	95.377	0.0100	get 0.0013% / 1h	49m 36s	$142K	$151K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.241%Rate

Funding earned: −$54.07
Price spread: −0.241% → 0.000%: −$24.05
Slippage, 4 orders: −$46.4
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$139.52
Costs to cover: 0.614%
Break-even: never at this rate

Slippage from Nado: live order book, 56 min ago; Pacifica: live order book, 56 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, 56 min ago	2.15 bp	6.0 bp −$6	23.7 bp −$237	doesn't fit	doesn't fit
Sell Pacifica live order book, 56 min ago	8.07 bp	25.7 bp −$26	doesn't fit	doesn't fit	doesn't fit

CRCL on 34 exchanges

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
Coinbase International CRCL-PERP-INTX	−0.0024%	1h	95.490	−0.123%	$871K	$805K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	95.380	−0.238%	$15.7M	$28.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	95.440	−0.175%	$424K	$228K	10x	as long as short
Bitget CRCLUSDT	0.0000%	8h	95.470	−0.144%	$19.4M	$39.3M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	95.320	−0.301%	$1.1M	$47K	10x	as long as short
QFEX CRCL-USD	+0.0014%	1h	95.400	−0.217%	$1.4M	$1.7M	10x	as long as short
Gate CRCL_USDT	+0.0031%	8h	95.450	−0.165%	$7.7M	$26.5M	50x	as long as short
Injective CRCL/USDC PERP	+0.0033%	1h	95.630	+0.024%	$39K	$172K	30x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	95.146	−0.483%	$2K	$29K	5x	as long as short
Lighter RH CRCL	+0.0040%	1h	95.423	−0.193%	$1.0M	$2.7M	10x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest CRCL-USD-PERP	+0.0046%	1h	95.690	+0.086%	—	$29K	25x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	95.234	−0.391%	$69.2M	$44.3M	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	95.470	−0.144%	$1.1M	$4.3M	10x	as long as short
Arcus CRCL-USD	+0.0057%	1h	95.360	−0.259%	$96K	$239K	10x	as long as short
Pacifica CRCLshort	+0.0100%	1h	95.377	−0.241%	$142K	$151K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	95.300	−0.322%	$2.5M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	95.850	+0.254%	$98K	$26K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	95.440	−0.175%	$752	$2K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0104%	8h	95.298	−0.323%	$438	$477	5x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	95.562	−0.048%	$4	—	10x	as long as short
Phoenix CRCL	+0.0136%	1h	95.413	−0.203%	$28K	$94K	10x	as long as short
Variational Omni CRCL	+0.0157%	8h	95.650	+0.044%	$2.7M	$3.3M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0209%	8h	95.460	−0.154%	$23.5M	$67.1M	50x	as long as short
Extended CRCL_24_5-USD	+0.0256%	1h	95.418	−0.198%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0262%	8h	95.383	−0.234%	$111.9M	$392.8M	50x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0274%	1h	95.420	−0.196%	$5K	$415K	10x	as long as short
Aster CRCLUSDT	+0.0281%	8h	95.351	−0.268%	$1.2M	$4.8M	20x	as long as short
edgeX CRCLUSDC	+0.0287%	4h	95.658	+0.053%	$55K	$278K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0324%	8h	95.670	+0.065%	$66K	$1.0M	10x	as long as short
Nado CRCL-PERPlong	+0.0357%	1h	95.607	long leg	$153K	$93K	3x
BloFin CRCL-USDT	+0.0375%	8h	95.540	−0.071%	$1.1M	$1.8M	20x	as long as short
Polymarket Perps CRCL-USD	+0.0393%	1h	95.700	+0.097%	$284K	$1.1M	10x	as long as short
Lighter CRCL	+0.0424%	1h	95.472	−0.142%	$3.3M	$2.4M	10x	as long as short
SoDEX CRCL-USD	+0.2373%	1h	95.462	−0.152%	$48K	$3K	10x	as long as short