CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0263%/8h= +28.8% APRnext payment +$0.33 per $10,000 · paid last 24h +0.052%

Price spread now: Nado against Pacifica+0.105%7-day average +0.001% · 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−$49as in the Price arb table

costs, in and out, $10k−$590.594% of the position

Long on Pacifica Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.062%+$6 on $10k

Price spread, last 4 days (all we have)−0.035%−$3 · spread now +0.105%, 7d avg +0.001%

Together, before fees+0.027%+ Points / potential airdropPacifica: Active · Nado: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Nado is 0.104% dearer against Pacifica than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.001%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.062% in total (about 6.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.33 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	92.553	0.0100	pay 0.0013% / 1h	0m 49s	$136K	$140K	10x
Short	Nado CRCL-PERP	92.650	0.0363	get 0.0045% / 1h	0m 49s	$149K	$111K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.105%Rate

Funding earned: $55.21
Price spread: +0.105% → +0.001%: $10.38
Slippage, 4 orders: −$44.4
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $6.2
Costs to cover: 0.594%
Break-even: 6.2 days

Slippage from Pacifica: live order book, 13 min ago; Nado: live order book, 32 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, 13 min ago	10.24 bp	21.1 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 32 min ago	3.30 bp	8.7 bp −$9	26.7 bp −$267	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
Vest CRCL-USD-PERP	−0.0074%	1h	92.540	−0.014%	—	$31K	25x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.680	+0.137%	$17.9M	$35.1M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.620	+0.072%	$1.0M	$46K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.667	+0.123%	$994K	$2.5M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	92.580	+0.029%	$891K	$682K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	92.692	+0.150%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.700	+0.158%	$97K	$270K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.550	−0.004%	$67.9M	$42.7M	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.620	+0.072%	$1.1M	$4.3M	10x	as long as short
QFEX CRCL-USD	+0.0065%	1h	92.650	+0.104%	$1.4M	$1.7M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CRCL_USDT	+0.0075%	8h	92.660	+0.115%	$7.3M	$28.1M	50x	as long as short
Polymarket Perps CRCL-USD	+0.0090%	1h	92.739	+0.201%	$381K	$964K	10x	as long as short
Pacifica CRCLlong	+0.0100%	1h	92.553	long leg	$136K	$140K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	92.640	+0.094%	$2.7M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.710	+0.169%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.660	+0.115%	$924	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.663	+0.118%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0169%	8h	92.704	+0.163%	$426	$766	5x	as long as short
Bybit CRCLUSDT	+0.0193%	8h	92.660	+0.115%	$15.1M	$26.1M	50x	as long as short
Lighter CRCL	+0.0208%	1h	92.584	+0.033%	$3.0M	$2.2M	10x	as long as short
Phoenix CRCL	+0.0254%	1h	92.745	+0.207%	$27K	$66K	10x	as long as short
Variational Omni CRCL	+0.0257%	8h	92.578	+0.026%	$2.4M	$3.2M	—	as long as short
Aster CRCLUSDT	+0.0310%	8h	92.655	+0.110%	$1.1M	$5.0M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0311%	8h	92.690	+0.148%	$22.6M	$59.6M	50x	as long as short
Extended CRCL_24_5-USD	+0.0320%	1h	92.573	+0.021%	$1.1M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0323%	8h	92.638	+0.091%	$106.8M	$378.0M	50x	as long as short
Nado CRCL-PERPshort	+0.0363%	1h	92.650	+0.105%	$149K	$111K	3x
Injective CRCL/USDC PERP	+0.0440%	1h	93.200	+0.699%	$39K	$172K	30x	as long as short
BloFin CRCL-USDT	+0.0443%	8h	92.620	+0.072%	$1.1M	$1.7M	20x	as long as short
RISEx CRCL/USDC	+0.0501%	1h	92.770	+0.234%	$415K	$255K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0506%	1h	92.610	+0.061%	$5K	$628K	10x	as long as short
SoDEX CRCL-USD	+0.0683%	1h	92.620	+0.072%	$46K	$3K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0771%	8h	92.761	+0.225%	$70K	$1.1M	10x	as long as short
edgeX CRCLUSDC	+0.0825%	4h	92.817	+0.285%	$53K	$269K	10x	as long as short