CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.06 per $10,000 · paid last 24h −0.003%

Price spread now: tradeXYZ against Pacifica−0.067%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$670.670% of the position

Long on Pacifica Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$2 on $10k

Price spread, last 4 days (all we have)+0.072%+$7 · spread now −0.067%, 7d avg −0.021%

Together, before fees+0.057%+ Points / potential airdropPacifica: Active · tradeXYZ: Active · farm board+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and tradeXYZ is 0.045% cheaper against Pacifica than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.021%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica CRCL	91.656	0.0100	pay 0.0013% / 1h	28m 15s	$132K	$157K	10x
Short	tradeXYZ xyz:CRCL	91.595	0.0050	get 0.0006% / 1h	28m 15s	$68.4M	$41.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.067%Rate

Funding earned: −$10.5
Price spread: −0.067% → −0.021%: −$4.54
Slippage, 4 orders: −$40.96
Fee Pacifica: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$82
Costs to cover: 0.670%
Break-even: never at this rate

Slippage from Pacifica: live order book, 16 min ago; tradeXYZ: live order book, 11 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, 16 min ago	10.93 bp	21.6 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 11 min ago	1.04 bp	11.1 bp −$11	doesn't fit	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	−0.1308%	8h	91.710	+0.059%	$15.9M	$34.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0076%	1h	91.440	−0.236%	—	$35K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.690	+0.037%	$905K	$529K	10x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.624	−0.035%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.639	−0.019%	$104.6M	$385.0M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.670	+0.015%	$15.0M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.669	+0.014%	$418K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.690	+0.037%	$7.1M	$26.6M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.746	+0.098%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.777	+0.132%	$65K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.660	+0.004%	$1.0M	$49K	10x	as long as short
Aster CRCLUSDT	+0.0002%	8h	91.678	+0.023%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0009%	8h	91.670	+0.015%	$21.6M	$59.4M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0018%	1h	91.639	−0.019%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.630	−0.029%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.639	−0.019%	$973K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.620	−0.040%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCLshort	+0.0050%	1h	91.595	−0.067%	$68.4M	$41.2M	10x
Polymarket Perps CRCL-USD	+0.0050%	1h	91.672	+0.017%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.640	−0.018%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.610	−0.050%	$970K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0068%	8h	91.704	+0.052%	$752	$740	5x	as long as short
Pacifica CRCLlong	+0.0100%	1h	91.656	long leg	$132K	$157K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	91.680	+0.026%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.820	+0.179%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.660	+0.004%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.664	+0.008%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.660	+0.004%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0183%	1h	91.684	+0.030%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0183%	1h	91.626	−0.033%	$131K	$104K	3x	as long as short
Lighter CRCL	+0.0216%	1h	91.645	−0.012%	$3.0M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.330	+0.735%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0590%	4h	91.601	−0.061%	$23K	$268K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0623%	1h	91.680	+0.026%	$4K	$767K	10x	as long as short