CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC+0.0057%/8h= +6.2% APRnext payment +$0.57 per $10,000 · paid last 24h +0.012%

Price spread now: Variational Omni against Orderly−0.022%48s7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.022% cheaper against Orderly than usual: you would sell low and buy high (spread −0.022% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 31 hours of funding at the current rate (+$2 a day). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_CRCL_USDC_mythos	91.370	0.0100	pay 0.0100% / 8h	7h 45m	$911	$1K	10x
Short	Variational Omni CRCL	91.350	0.0157	get 0.0157% / 8h	7h 45m	$2.4M	$3.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Orderly. 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 OrderlybpFee Variational OmnibpOrdersPrice spread, now −0.022%Rate

Funding earned: $11.94
Price spread: −0.022% → 0.000%: −$2.2
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $3.75
Costs to cover: 0.060%
Break-even: 4.8 days

Slippage unknown: Orderly: no order-book sample; Variational Omni: RFQ quote, 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 Orderly no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 4 min ago	3.46 bp	doesn't fit	21.7 bp −$217	doesn't fit	doesn't fit

Orderly: 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	−0.0183%	8h	91.430	+0.066%	$17.4M	$36.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0090%	1h	91.150	−0.241%	—	$31K	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.390	+0.022%	$1.0M	$48K	10x	as long as short
Gate CRCL_USDT	+0.0028%	8h	91.420	+0.055%	$7.8M	$26.2M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.388	+0.020%	$984K	$2.4M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	91.370	0.000%	$874K	$506K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	91.343	−0.029%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.330	−0.044%	$95K	$287K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.305	−0.071%	$67.3M	$44.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.276	−0.103%	$377K	$1.2M	10x	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	91.340	−0.033%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.320	−0.055%	$1.1M	$4.8M	10x	as long as short
QFEX CRCL-USD	+0.0065%	1h	91.350	−0.022%	$1.3M	$1.7M	10x	as long as short
Bybit CRCLUSDT	+0.0095%	8h	91.390	+0.022%	$14.9M	$26.5M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.370	0.000%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.400	+0.033%	$2.6M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.320	−0.055%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythoslong	+0.0100%	8h	91.370	long leg	$911	$1K	10x
Aevo CRCL-PERP	+0.0104%	1h	91.353	−0.018%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0145%	8h	91.338	−0.035%	$420	$766	5x	as long as short
Variational Omni CRCLshort	+0.0157%	8h	91.350	−0.022%	$2.4M	$3.3M	—
Lighter CRCL	+0.0192%	1h	91.383	+0.014%	$2.9M	$2.1M	10x	as long as short
Aster CRCLUSDT	+0.0221%	8h	91.423	+0.059%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0237%	8h	91.378	+0.008%	$105.0M	$387.9M	50x	as long as short
Extended CRCL_24_5-USD	+0.0240%	1h	91.337	−0.036%	$1.1M	$5.1M	10x	as long as short
Phoenix CRCL	+0.0254%	1h	91.375	+0.005%	$27K	$66K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0295%	8h	91.410	+0.044%	$22.3M	$61.6M	50x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0298%	1h	91.340	−0.033%	$5K	$769K	10x	as long as short
Nado CRCL-PERP	+0.0349%	1h	91.293	−0.084%	$134K	$109K	3x	as long as short
BloFin CRCL-USDT	+0.0356%	8h	91.360	−0.011%	$1.1M	$1.7M	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.900	+0.580%	$5K	$19K	30x	as long as short
GRVT CRCL_USDT_Perp	+0.0458%	8h	91.510	+0.153%	$62K	$1.1M	10x	as long as short
RISEx CRCL/USDC	+0.0501%	1h	91.380	+0.011%	$413K	$258K	10x	as long as short
edgeX CRCLUSDC	+0.0574%	4h	91.486	+0.127%	$52K	$270K	10x	as long as short