CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0361%/8h= −39.6% APRnext payment −$0.45 per $10,000 · paid last 24h −0.065%

Price spread now: QFEX against Nado+0.108%7-day average +0.009% · 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−$20as in the Price arb table

costs, in and out, $10k−$300.297% of the position

Long on Nado Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.143%−$14 on $10k

Price spread, last 4 days (all we have)−0.336%−$34 · spread now +0.108%, 7d avg +0.009%

Together, before fees−0.479%+ Points / potential airdropNado: Active · farm board−$48 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.098% dearer against Nado than usual: you sell high and buy low (spread +0.108% now, against its 7-day average of +0.009%): +$10 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 22 hours. At the pace of the last 4 days (−0.143% in total) that is about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado CRCL-PERP	91.222	0.0433	pay 0.0054% / 1h	12m 44s	$134K	$109K	3x
Short	QFEX CRCL-USD	91.320	0.0071	get 0.0009% / 1h	12m 44s	$1.3M	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.108%Rate

Funding earned: −$75.9
Price spread: +0.108% → +0.009%: $9.85
Slippage, 4 orders: −$12.7
Fee Nado: 3.5 bp × 2 orders: −$7
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$95.75
Costs to cover: 0.297%
Break-even: never at this rate

Slippage from Nado: live order book, 25 min ago; QFEX: live order book, 4 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, 25 min ago	2.18 bp	6.8 bp −$7	25.0 bp −$250	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	1.64 bp	6.6 bp −$7	8.0 bp −$80	15.7 bp −$1,566	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	−0.0355%	8h	91.360	+0.151%	$17.5M	$36.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0080%	1h	91.010	−0.232%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.340	+0.129%	$7.9M	$27.8M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.310	+0.097%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.311	+0.098%	$983K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.209	−0.014%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.230	+0.009%	$95K	$296K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.280	+0.064%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.210	−0.013%	$1.1M	$4.8M	10x	as long as short
Bybit CRCLUSDT	+0.0056%	8h	91.320	+0.108%	$14.8M	$26.5M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USDshort	+0.0071%	1h	91.320	+0.108%	$1.3M	$1.7M	10x
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.070	−0.167%	$871K	$500K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0091%	1h	91.227	+0.006%	$67.3M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.280	+0.064%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.250	+0.031%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.130	−0.101%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.320	+0.108%	$910	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.314	+0.101%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0120%	8h	91.211	−0.012%	$2.4M	$3.2M	—	as long as short
Polymarket Perps CRCL-USD	+0.0156%	1h	91.310	+0.097%	$378K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0157%	8h	91.295	+0.080%	$420	$905	5x	as long as short
Aster CRCLUSDT	+0.0189%	8h	91.344	+0.133%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0206%	8h	91.300	+0.086%	$104.8M	$389.3M	50x	as long as short
Extended CRCL_24_5-USD	+0.0208%	1h	91.278	+0.061%	$1.0M	$5.0M	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.164	−0.063%	$27K	$74K	10x	as long as short
Lighter CRCL	+0.0240%	1h	91.309	+0.095%	$2.9M	$2.4M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0249%	8h	91.199	−0.025%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0278%	8h	91.310	+0.097%	$22.3M	$61.7M	50x	as long as short
BloFin CRCL-USDT	+0.0325%	8h	91.340	+0.129%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERPlong	+0.0433%	1h	91.222	long leg	$134K	$109K	3x
Injective CRCL/USDC PERP	+0.0440%	1h	91.740	+0.568%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.293	+0.078%	$412K	$270K	10x	as long as short
edgeX CRCLUSDC	+0.0610%	4h	91.186	−0.040%	$52K	$271K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0737%	1h	91.320	+0.108%	$5K	$769K	10x	as long as short