CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0417%/8h= +45.7% APRnext payment +$0.52 per $10,000 · paid last 24h +0.090%

Price spread now: Deribit against Pacifica−0.054%7-day average +0.007% · 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−$71as in the Price arb table

costs, in and out, $10k−$650.649% of the position

Long on Pacifica Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.085%+$8 on $10k

Price spread, last 4 days (all we have)+0.030%+$3 · spread now −0.054%, 7d avg +0.007%

Together, before fees+0.114%+ Points / potential airdropPacifica: Active · farm board+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.061% cheaper against Pacifica than usual: you would sell low and buy high (spread −0.054% now, against its 7-day average of +0.007%). If the spread goes back, that is −$6 on $10k: about 12 hours of funding at the current rate (+$13 a day). At the pace of the last 5 days (+0.085% in total) that is about 3.6 days.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid 0.085% in total (about 6.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.52 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica CRCL	91.329	0.0100	pay 0.0013% / 1h	52m 00s	$134K	$158K	10x
Short	Deribit CRCL_USDC-PERPETUAL	91.280	0.0517	get 0.0065% / 1h	52m 00s	$5K	$769K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Pacifica. 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 PacificabpFee DeribitbpOrdersPrice spread, now −0.054%Rate

Funding earned: $87.67
Price spread: −0.054% → +0.007%: −$6.07
Slippage, 4 orders: −$49.95
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $16.65
Costs to cover: 0.649%
Break-even: 5.7 days

Slippage from Pacifica: live order book, 27 min ago; Deribit: live order book, 47 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 Pacifica live order book, 27 min ago	7.66 bp	20.8 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 47 min ago	6.00 bp	9.5 bp −$9	12.2 bp −$122	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	−0.0257%	8h	91.330	+0.001%	$17.3M	$36.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0089%	1h	91.070	−0.284%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.330	+0.001%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.340	+0.012%	$7.8M	$26.2M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.250	−0.087%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.271	−0.064%	$983K	$2.4M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	91.270	−0.065%	$873K	$502K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	91.304	−0.028%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.280	−0.054%	$95K	$288K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.259	−0.077%	$67.3M	$44.2M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps CRCL-USD	+0.0050%	1h	91.268	−0.067%	$377K	$1.3M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.240	−0.098%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.430	+0.110%	$1.1M	$4.8M	10x	as long as short
QFEX CRCL-USD	+0.0065%	1h	91.360	+0.034%	$1.3M	$1.7M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0073%	8h	91.347	+0.020%	$70K	$1.1M	10x	as long as short
Pacifica CRCLlong	+0.0100%	1h	91.329	long leg	$134K	$158K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	91.300	−0.032%	$2.6M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.260	−0.076%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.300	−0.032%	$910	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.267	−0.068%	$4	—	10x	as long as short
edgeX CRCLUSDC	+0.0126%	4h	91.321	−0.009%	$52K	$269K	10x	as long as short
Variational Omni CRCL	+0.0147%	8h	91.470	+0.154%	$2.4M	$3.3M	—	as long as short
Paradex CRCL-USD-PERP	+0.0148%	8h	91.303	−0.029%	$420	$905	5x	as long as short
Lighter CRCL	+0.0160%	1h	91.246	−0.091%	$2.9M	$2.1M	10x	as long as short
Aster CRCLUSDT	+0.0207%	8h	91.330	+0.001%	$1.0M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0224%	1h	91.267	−0.068%	$1.1M	$5.1M	10x	as long as short
Binance CRCLUSDT	+0.0224%	8h	91.334	+0.005%	$104.9M	$388.4M	50x	as long as short
Phoenix CRCL	+0.0254%	1h	91.239	−0.099%	$27K	$66K	10x	as long as short
Nado CRCL-PERP	+0.0282%	1h	91.328	−0.001%	$134K	$109K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0291%	8h	91.360	+0.034%	$22.2M	$61.6M	50x	as long as short
BloFin CRCL-USDT	+0.0342%	8h	91.420	+0.100%	$1.1M	$1.7M	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.810	+0.527%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0501%	1h	91.396	+0.073%	$413K	$259K	10x	as long as short
Deribit CRCL_USDC-PERPETUALshort	+0.0517%	1h	91.280	−0.054%	$5K	$769K	10x