CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0196%/8h= +21.5% APRnext payment +$0.24 per $10,000 · paid last 24h +0.051%

Price spread now: Lighter against Pacifica−0.015%7-day average +0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs+$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$550.547% of the position

Long on Pacifica Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.597%+$60 on $10k

Price spread, last 4 days (all we have)+0.102%+$10 · spread now −0.015%, 7d avg +0.093%

Together, before fees+0.699%+ Points / potential airdropPacifica: Active · Lighter: Season 3 · farm board+$70 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.108% cheaper against Pacifica than usual: you would sell low and buy high (spread −0.015% now, against its 7-day average of +0.093%). If the spread goes back, that is −$11 on $10k: about 44 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica CRCL	91.650	0.0100	pay 0.0013% / 1h	37m 55s	$134K	$159K	10x
Short	Lighter CRCL	91.636	0.0296	get 0.0037% / 1h	37m 55s	$2.9M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.015%Rate

Funding earned: $41.16
Price spread: −0.015% → +0.093%: −$10.82
Slippage, 4 orders: −$46.71
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$24.37
Costs to cover: 0.547%
Break-even: 11.1 days

Slippage from Pacifica: live order book, 46 min ago; Lighter: 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 Pacifica live order book, 46 min ago	9.82 bp	23.4 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	2.18 bp	2.2 bp −$2	10.7 bp −$107	43.4 bp −$4,342	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	−0.0244%	8h	91.690	+0.044%	$17.5M	$36.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0078%	1h	91.410	−0.262%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.670	+0.022%	$7.8M	$27.3M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.700	+0.055%	$1.0M	$48K	10x	as long as short
Bybit CRCLUSDT	+0.0029%	8h	91.630	−0.022%	$14.8M	$26.4M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.641	−0.010%	$979K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	91.650	0.000%	$2K	$28K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.700	+0.055%	$97K	$292K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.611	−0.043%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.710	+0.065%	$1.1M	$4.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.680	+0.033%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.400	−0.273%	$890K	$405K	10x	as long as short
Variational Omni CRCL	+0.0095%	8h	91.757	+0.117%	$2.4M	$3.3M	—	as long as short
Pacifica CRCLlong	+0.0100%	1h	91.650	long leg	$134K	$159K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	91.660	+0.011%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.700	+0.055%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.650	0.000%	$914	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.662	+0.013%	$4	—	10x	as long as short
tradeXYZ xyz:CRCL	+0.0124%	1h	91.573	−0.084%	$67.8M	$43.8M	10x	as long as short
Aster CRCLUSDT	+0.0167%	8h	91.664	+0.015%	$1.0M	$5.0M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0172%	8h	91.691	+0.045%	$422	$905	5x	as long as short
Polymarket Perps CRCL-USD	+0.0174%	1h	91.658	+0.009%	$380K	$1.3M	10x	as long as short
Binance CRCLUSDT	+0.0182%	8h	91.612	−0.041%	$105.2M	$389.4M	50x	as long as short
Extended CRCL_24_5-USD	+0.0184%	1h	91.585	−0.070%	$1.0M	$5.0M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0187%	1h	91.660	+0.011%	$5K	$769K	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.688	+0.041%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0248%	8h	91.784	+0.146%	$61K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0259%	8h	91.650	0.000%	$22.3M	$61.8M	50x	as long as short
Lighter CRCLshort	+0.0296%	1h	91.636	−0.015%	$2.9M	$2.4M	10x
BloFin CRCL-USDT	+0.0302%	8h	91.720	+0.076%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0433%	1h	91.644	−0.006%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.170	+0.567%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.710	+0.065%	$411K	$271K	10x	as long as short
edgeX CRCLUSDC	+0.0982%	4h	91.785	+0.148%	$52K	$275K	10x	as long as short