Funding you earn now, next payment 22:00 UTC−0.0028%/8h= −3.0% APRnext payment −$0.03 per $10,000 · paid last 24h +0.001%
Price spread now: Extended against Phoenix−0.137%68s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.018%+$2 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Extended is 0.137% cheaper against Phoenix than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 68 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 | 94.411 | 0.0212 | pay 0.0026% / 1h | 20m 13s | $28K | $92K | 10x |
| Short | Extended CRCL_24_5-USD | 94.282 | 0.0184 | get 0.0023% / 1h | 20m 13s | $1.1M | $3.8M | 10x |
Phoenix CRCL
Extended CRCL_24_5-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- −$5.85
- Price spread: −0.137% → 0.000%
- −$13.7
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$31.55
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Extended: 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 Extended live order book, 4 min ago | 0.48 bp | 5.1 bp −$5 | 23.5 bp −$235 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Gate CRCL_USDT | 0.0000% | 8h | 94.350 | −0.065% | $7.2M | $27.6M | 50x | as long as short |
| Phemex CRCLUSDT | 0.0000% | 4h | 94.310 | −0.107% | $1.0M | $50K | 10x | as long as short |
| Lighter RH CRCL | +0.0032% | 1h | 94.337 | −0.078% | $889K | $2.9M | 10x | as long as short |
| QFEX CRCL-USD | +0.0033% | 1h | 94.370 | −0.043% | $1.4M | $2.8M | 10x | as long as short |
| Vest CRCL-USD-PERP | +0.0046% | 1h | 94.320 | −0.096% | — | $45K | 25x | as long as short |
| Aftermath Perps CRCLUSD | +0.0047% | 1h | 94.341 | −0.074% | $2K | $20K | 5x | as long as short |
| Polymarket Perps CRCL-USD | +0.0050% | 1h | 94.317 | −0.100% | $365K | $1.1M | 10x | as long as short |
| SoDEX CRCL-USD | +0.0050% | 1h | 94.286 | −0.132% | $47K | $3K | 10x | as long as short |
| Ondo Perps CRCL-USD.P | +0.0050% | 1h | 94.260 | −0.160% | $1.1M | $5.9M | 10x | as long as short |
| Bybit CRCLUSDT | +0.0078% | 8h | 94.350 | −0.065% | $15.5M | $25.9M | 50x | as long as short |
Gate CRCL_USDT
Phemex CRCLUSDT
Lighter RH CRCL
QFEX CRCL-USD
Vest CRCL-USD-PERP
Aftermath Perps CRCLUSD
Polymarket Perps CRCL-USD
SoDEX CRCL-USD
Ondo Perps CRCL-USD.P
Bybit CRCLUSDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International CRCL-PERP-INTX | +0.0080% | 1h | 94.100 | −0.329% | $936K | $740K | 10x | as long as short |
| Pacifica CRCL | +0.0100% | 1h | 94.290 | −0.128% | $75K | $99K | 10x | as long as short |
| KuCoin CRCLUSDTM | +0.0100% | 8h | 94.340 | −0.075% | $3.0M | $1.8M | 20x | as long as short |
| ApeX Omni CRCLUSDT | +0.0100% | 1h | 94.190 | −0.234% | $69K | $4K | 50x | as long as short |
| Orderly PERP_CRCL_USDC_mythos | +0.0100% | 8h | 94.310 | −0.107% | $940 | $3K | 10x | as long as short |
| Aevo CRCL-PERP | +0.0104% | 1h | 94.314 | −0.103% | $4 | — | 10x | as long as short |
| GRVT CRCL_USDT_Perp | +0.0129% | 8h | 94.323 | −0.093% | $59K | $1.2M | 10x | as long as short |
| Variational Omni CRCL | +0.0132% | 8h | 94.333 | −0.082% | $2.5M | $3.1M | — | as long as short |
| Paradex CRCL-USD-PERP | +0.0145% | 8h | 94.370 | −0.044% | $774 | $740 | 5x | as long as short |
| RISEx CRCL/USDC | +0.0159% | 1h | 94.350 | −0.065% | $430K | $310K | 10x | as long as short |
| tradeXYZ xyz:CRCL | +0.0165% | 1h | 94.318 | −0.099% | $70.7M | $42.8M | 10x | as long as short |
| Extended CRCL_24_5-USDshort | +0.0184% | 1h | 94.282 | −0.137% | $1.1M | $3.8M | 10x | |
| Binance CRCLUSDT | +0.0186% | 8h | 94.310 | −0.107% | $108.4M | $388.5M | 50x | as long as short |
| Aster CRCLUSDT | +0.0205% | 8h | 94.330 | −0.086% | $1.1M | $4.9M | 20x | as long as short |
| OKX CRCL-USDT-SWAP | +0.0208% | 8h | 94.300 | −0.118% | $22.8M | $60.4M | 50x | as long as short |
| Phoenix CRCLlong | +0.0212% | 1h | 94.411 | long leg | $28K | $92K | 10x | |
| Arcus CRCL-USD | +0.0214% | 1h | 94.310 | −0.107% | $97K | $275K | 10x | as long as short |
| Nado CRCL-PERP | +0.0256% | 1h | 94.308 | −0.109% | $126K | $73K | 3x | as long as short |
| Deribit CRCL_USDC-PERPETUAL | +0.0281% | 1h | 94.280 | −0.139% | $4K | $772K | 10x | as long as short |
| Lighter CRCL | +0.0288% | 1h | 94.343 | −0.072% | $3.0M | $2.3M | 10x | as long as short |
| BloFin CRCL-USDT | +0.0303% | 8h | 94.350 | −0.065% | $1.1M | $580K | 20x | as long as short |
| Bitget CRCLUSDT | +0.0319% | 8h | 94.330 | −0.086% | $16.6M | $35.1M | 25x | as long as short |
| Injective CRCL/USDC PERP | +0.0440% | 1h | 94.760 | +0.370% | $5K | $19K | 30x | as long as short |
| edgeX CRCLUSDC | +0.0911% | 4h | 94.259 | −0.161% | $24K | $267K | 10x | as long as short |
Coinbase International CRCL-PERP-INTX
Pacifica CRCL
KuCoin CRCLUSDTM
ApeX Omni CRCLUSDT
Orderly PERP_CRCL_USDC_mythos
Aevo CRCL-PERP
GRVT CRCL_USDT_Perp
Variational Omni CRCL
Paradex CRCL-USD-PERP
RISEx CRCL/USDC
tradeXYZ xyz:CRCL
Binance CRCLUSDT
Aster CRCLUSDT
OKX CRCL-USDT-SWAP
Arcus CRCL-USD
Nado CRCL-PERP
Deribit CRCL_USDC-PERPETUAL
Lighter CRCL
BloFin CRCL-USDT
Bitget CRCLUSDT
Injective CRCL/USDC PERP
edgeX CRCLUSDC