Funding you earn now, next payment 02:00 UTC−0.1507%/8h= −165.0% APRpaid last 24h −0.003%
Price spread now: Bitget against Phoenix+0.061%49s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.084%+$8 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Bitget is 0.061% dearer against Phoenix than usual: you sell high and buy low (spread +0.061% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$45 a day in funding at the current rate, which eats that in about 3 hours. Mind the row above: over the last 7 days funding on this pair paid +0.084%, so the current rate has only just turned against you. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.084% in total (about 4.4% a year). A funding rate is set anew for every payment. 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 | Phoenix CRCL | 91.604 | 0.0183 | pay 0.0023% / 1h | 34m 34s | $27K | $84K | 10x |
| Short | Bitget CRCLUSDT | 91.660 | −0.1324 | pay 0.1324% / 8h | 5h 34m | $15.8M | $34.5M | 25x |
Phoenix CRCL
Bitget CRCLUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$316.43
- Price spread: +0.061% → 0.000%
- $6.11
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$329.32
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Bitget: live order book, 4 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 Bitget live order book, 4 min ago | 1.09 bp | 8.5 bp −$8 | 13.3 bp −$133 | 62.6 bp −$6,260 | 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 CRCLUSDTshort | −0.1324% | 8h | 91.660 | +0.061% | $15.8M | $34.5M | 25x | |
| Vest CRCL-USD-PERP | −0.0076% | 1h | 91.410 | −0.212% | — | $35K | 25x | as long as short |
| Coinbase International CRCL-PERP-INTX | −0.0016% | 1h | 91.450 | −0.168% | $902K | $527K | 10x | as long as short |
| Extended CRCL_24_5-USD | 0.0000% | 1h | 91.600 | −0.004% | $1.1M | $5.7M | 10x | as long as short |
| Binance CRCLUSDT | 0.0000% | 8h | 91.627 | +0.025% | $104.3M | $384.5M | 50x | as long as short |
| Bybit CRCLUSDT | 0.0000% | 8h | 91.640 | +0.039% | $14.9M | $25.7M | 50x | as long as short |
| RISEx CRCL/USDC | 0.0000% | 1h | 91.625 | +0.023% | $418K | $297K | 10x | as long as short |
| Gate CRCL_USDT | 0.0000% | 8h | 91.630 | +0.028% | $7.1M | $26.6M | 50x | as long as short |
| Variational Omni CRCL | 0.0000% | 8h | 91.607 | +0.003% | $2.4M | $3.2M | — | as long as short |
| GRVT CRCL_USDT_Perp | 0.0000% | 8h | 91.610 | +0.007% | $65K | $1.1M | 10x | as long as short |
Vest CRCL-USD-PERP
Coinbase International CRCL-PERP-INTX
Extended CRCL_24_5-USD
Binance CRCLUSDT
Bybit CRCLUSDT
RISEx CRCL/USDC
Gate CRCL_USDT
Variational Omni CRCL
GRVT CRCL_USDT_PerpShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex CRCLUSDT | 0.0000% | 4h | 91.620 | +0.017% | $1.0M | $49K | 10x | as long as short |
| Aster CRCLUSDT | +0.0008% | 8h | 91.675 | +0.078% | $1.1M | $4.9M | 20x | as long as short |
| OKX CRCL-USDT-SWAP | +0.0014% | 8h | 91.630 | +0.028% | $21.5M | $59.4M | 50x | as long as short |
| Aftermath Perps CRCLUSD | +0.0020% | 1h | 91.513 | −0.100% | $2K | $23K | 5x | as long as short |
| QFEX CRCL-USD | +0.0023% | 1h | 91.570 | −0.037% | $1.3M | $2.1M | 10x | as long as short |
| BloFin CRCL-USDT | +0.0027% | 8h | 91.640 | +0.039% | $1.1M | $1.3M | 20x | as long as short |
| Lighter RH CRCL | +0.0032% | 1h | 91.632 | +0.031% | $973K | $2.9M | 10x | as long as short |
| Arcus CRCL-USD | +0.0040% | 1h | 91.550 | −0.059% | $93K | $273K | 10x | as long as short |
| tradeXYZ xyz:CRCL | +0.0050% | 1h | 91.585 | −0.021% | $68.5M | $41.2M | 10x | as long as short |
| Polymarket Perps CRCL-USD | +0.0050% | 1h | 91.608 | +0.004% | $355K | $1.1M | 10x | as long as short |
| SoDEX CRCL-USD | +0.0050% | 1h | 91.630 | +0.028% | $46K | $3K | 10x | as long as short |
| Ondo Perps CRCL-USD.P | +0.0050% | 1h | 91.470 | −0.146% | $996K | $5.2M | 10x | as long as short |
| Paradex CRCL-USD-PERP | +0.0067% | 8h | 91.642 | +0.041% | $751 | $740 | 5x | as long as short |
| Deribit CRCL_USDC-PERPETUAL | +0.0077% | 1h | 91.640 | +0.039% | $4K | $767K | 10x | as long as short |
| Pacifica CRCL | +0.0100% | 1h | 91.605 | +0.001% | $132K | $157K | 10x | as long as short |
| KuCoin CRCLUSDTM | +0.0100% | 8h | 91.620 | +0.017% | $2.8M | $1.9M | 20x | as long as short |
| ApeX Omni CRCLUSDT | +0.0100% | 1h | 91.560 | −0.048% | $67K | $4K | 50x | as long as short |
| Orderly PERP_CRCL_USDC_mythos | +0.0100% | 8h | 91.630 | +0.028% | $914 | $2K | 10x | as long as short |
| Aevo CRCL-PERP | +0.0104% | 1h | 91.637 | +0.036% | $4 | — | 10x | as long as short |
| Phoenix CRCLlong | +0.0183% | 1h | 91.604 | long leg | $27K | $84K | 10x | |
| Nado CRCL-PERP | +0.0183% | 1h | 91.585 | −0.021% | $130K | $104K | 3x | as long as short |
| Lighter CRCL | +0.0200% | 1h | 91.643 | +0.043% | $3.0M | $2.4M | 10x | as long as short |
| Injective CRCL/USDC PERP | +0.0440% | 1h | 92.200 | +0.651% | $5K | $19K | 30x | as long as short |
| edgeX CRCLUSDC | +0.0562% | 4h | 91.573 | −0.034% | $23K | $267K | 10x | as long as short |
Phemex CRCLUSDT
Aster CRCLUSDT
OKX CRCL-USDT-SWAP
Aftermath Perps CRCLUSD
QFEX CRCL-USD
BloFin CRCL-USDT
Lighter RH CRCL
Arcus CRCL-USD
tradeXYZ xyz:CRCL
Polymarket Perps CRCL-USD
SoDEX CRCL-USD
Ondo Perps CRCL-USD.P
Paradex CRCL-USD-PERP
Deribit CRCL_USDC-PERPETUAL
Pacifica CRCL
KuCoin CRCLUSDTM
ApeX Omni CRCLUSDT
Orderly PERP_CRCL_USDC_mythos
Aevo CRCL-PERP
Nado CRCL-PERP
Lighter CRCL
Injective CRCL/USDC PERP
edgeX CRCLUSDC