CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0187%/8h= −20.5% APRnext payment −$0.23 per $10,000 · paid last 24h +0.016%

Price spread now: Arcus against Phoenix−0.036%49s7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Arcus

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—needs both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Arcus is 0.036% cheaper against Phoenix than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 49 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	Phoenix CRCL	91.113	0.0227	pay 0.0028% / 1h	22m 42s	$27K	$74K	10x
Short	Arcus CRCL-USD	91.080	0.0040	get 0.0005% / 1h	22m 42s	$94K	$296K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Phoenix. 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 PhoenixbpFee ArcusbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$39.27
Price spread: −0.036% → 0.000%: −$3.62
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$54.39
Costs to cover: 0.115%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Arcus: live order book, 16 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 Phoenix no order-book sample	—	—	—	—	—
Sell Arcus live order book, 16 min ago	1.64 bp	10.8 bp −$11	15.7 bp −$157	doesn't fit	doesn't fit

Phoenix: 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	−0.0343%	8h	91.200	+0.095%	$17.4M	$36.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0075%	1h	90.760	−0.387%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.150	+0.041%	$7.8M	$27.4M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.040	−0.080%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.140	+0.030%	$981K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	91.119	+0.006%	$2K	$28K	5x	as long as short
Arcus CRCL-USDshort	+0.0040%	1h	91.080	−0.036%	$94K	$296K	10x
Bybit CRCLUSDT	+0.0041%	8h	91.140	+0.030%	$14.7M	$26.5M	50x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.031	−0.090%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	90.980	−0.146%	$1.1M	$4.8M	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	91.020	−0.102%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.000	−0.124%	$875K	$494K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.120	+0.008%	$133K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.090	−0.025%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.020	−0.102%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.030	−0.091%	$908	$1K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0100%	1h	91.051	−0.068%	$67.2M	$44.3M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.067	−0.050%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0110%	8h	91.108	−0.005%	$2.4M	$3.2M	—	as long as short
Paradex CRCL-USD-PERP	+0.0150%	8h	91.099	−0.015%	$419	$905	5x	as long as short
Polymarket Perps CRCL-USD	+0.0151%	1h	91.032	−0.089%	$377K	$1.3M	10x	as long as short
Aster CRCLUSDT	+0.0176%	8h	91.132	+0.021%	$1.0M	$5.0M	20x	as long as short
edgeX CRCLUSDC	+0.0180%	4h	91.082	−0.034%	$52K	$270K	10x	as long as short
Extended CRCL_24_5-USD	+0.0192%	1h	91.061	−0.057%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0192%	8h	91.115	+0.002%	$104.6M	$389.6M	50x	as long as short
Phoenix CRCLlong	+0.0227%	1h	91.113	long leg	$27K	$74K	10x
Lighter CRCL	+0.0248%	1h	91.140	+0.030%	$2.9M	$2.4M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0248%	8h	91.117	+0.005%	$61K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0266%	8h	91.160	+0.052%	$22.2M	$61.6M	50x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0300%	1h	91.040	−0.080%	$5K	$769K	10x	as long as short
BloFin CRCL-USDT	+0.0313%	8h	91.050	−0.069%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0428%	1h	90.994	−0.130%	$133K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.570	+0.502%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.144	+0.034%	$411K	$272K	10x	as long as short