CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0021%/8h= +2.3% APRnext payment +$0.03 per $10,000 · paid last 24h −0.001%

Price spread now: QFEX against Ondo Perps−0.033%7-day average +0.100% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.046%−$5 on $10k

Price spread, last 7 days+0.869%+$87 · spread now −0.033%, 7d avg +0.100%

Together, before fees+0.823%+ Points / potential airdropOndo Perps: Active · farm board+$82 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.132% cheaper against Ondo Perps than usual: you would sell low and buy high (spread −0.033% now, against its 7-day average of +0.100%). If the spread goes back, that is −$13 on $10k: about 21 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps CRCL-USD.P	91.710	0.0050	pay 0.0006% / 1h	37m 44s	$1.1M	$4.9M	10x
Short	QFEX CRCL-USD	91.680	0.0071	get 0.0009% / 1h	37m 44s	$1.3M	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpFee QFEXbpOrdersPrice spread, now −0.033%Rate

Funding earned: $4.35
Price spread: −0.033% → +0.100%: −$13.25
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$23.9
Costs to cover: 0.150%
Break-even: 45.4 days

Slippage unknown: Ondo Perps: no order-book sample; QFEX: live order book, 4 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell QFEX live order book, 4 min ago	2.18 bp	7.2 bp −$7	8.3 bp −$83	16.1 bp −$1,614	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0244%	8h	91.650	−0.065%	$17.5M	$36.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0078%	1h	91.410	−0.327%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.610	−0.109%	$7.8M	$27.3M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.700	−0.011%	$1.0M	$48K	10x	as long as short
Bybit CRCLUSDT	+0.0029%	8h	91.540	−0.185%	$14.8M	$26.4M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.641	−0.075%	$979K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	91.650	−0.066%	$2K	$28K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.700	−0.011%	$97K	$292K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.611	−0.108%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.Plong	+0.0050%	1h	91.710	long leg	$1.1M	$4.9M	10x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USDshort	+0.0071%	1h	91.680	−0.033%	$1.3M	$1.8M	10x
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.400	−0.338%	$890K	$405K	10x	as long as short
Variational Omni CRCL	+0.0095%	8h	91.757	+0.051%	$2.4M	$3.3M	—	as long as short
Pacifica CRCL	+0.0100%	1h	91.650	−0.065%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.640	−0.076%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.700	−0.011%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.650	−0.065%	$914	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.662	−0.052%	$4	—	10x	as long as short
tradeXYZ xyz:CRCL	+0.0124%	1h	91.474	−0.257%	$67.7M	$43.8M	10x	as long as short
Aster CRCLUSDT	+0.0167%	8h	91.574	−0.148%	$1.0M	$5.0M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0172%	8h	91.691	−0.020%	$422	$905	5x	as long as short
Polymarket Perps CRCL-USD	+0.0174%	1h	91.658	−0.057%	$380K	$1.3M	10x	as long as short
Binance CRCLUSDT	+0.0182%	8h	91.517	−0.210%	$105.1M	$389.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0184%	1h	91.585	−0.136%	$1.0M	$5.0M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0187%	1h	91.660	−0.055%	$5K	$769K	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.688	−0.024%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0248%	8h	91.784	+0.080%	$61K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0259%	8h	91.540	−0.185%	$22.3M	$61.8M	50x	as long as short
Lighter CRCL	+0.0296%	1h	91.636	−0.081%	$2.9M	$2.4M	10x	as long as short
BloFin CRCL-USDT	+0.0302%	8h	91.720	+0.011%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0433%	1h	91.644	−0.072%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.170	+0.502%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.710	0.000%	$411K	$271K	10x	as long as short
edgeX CRCLUSDC	+0.0982%	4h	91.785	+0.082%	$52K	$275K	10x	as long as short