CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0098%/8h= +10.7% APRnext payment +$0.12 per $10,000 · paid last 24h +0.028%

Price spread now: Lighter against Phoenix+0.020%74s7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.510%+$51 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 74 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	91.924	0.0182	pay 0.0023% / 1h	25m 58s	$27K	$82K	10x
Short	Lighter CRCL	91.942	0.0280	get 0.0035% / 1h	25m 58s	$3.0M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.020%Rate

Funding earned: $20.52
Price spread: +0.020% → 0.000%: $1.96
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: $15.48
Costs to cover: 0.070%
Break-even: 1.7 days

Slippage unknown: Phoenix: no order-book sample; Lighter: live order book, 11 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 Lighter live order book, 11 min ago	1.85 bp	2.0 bp −$2	5.6 bp −$56	46.9 bp −$4,689	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	−0.0688%	8h	91.960	+0.039%	$16.6M	$35.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0061%	1h	91.710	−0.233%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.910	−0.015%	$14.9M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.990	+0.072%	$7.3M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.918	−0.007%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.930	+0.007%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0023%	8h	91.968	+0.048%	$1.1M	$5.0M	20x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.950	+0.028%	$975K	$2.9M	10x	as long as short
Extended CRCL_24_5-USD	+0.0032%	1h	91.893	−0.033%	$1.2M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0032%	8h	91.927	+0.003%	$104.8M	$392.4M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0039%	1h	91.899	−0.027%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.960	+0.039%	$93K	$273K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.890	−0.037%	$907K	$510K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.856	−0.074%	$68.3M	$41.9M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.886	−0.041%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.912	−0.013%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.950	+0.028%	$1.0M	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0059%	8h	91.923	−0.001%	$423	$905	5x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.930	+0.007%	$1.3M	$1.9M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0096%	8h	91.940	+0.017%	$22.3M	$61.8M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.933	+0.010%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.930	+0.007%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.970	+0.050%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.940	+0.017%	$917	$2K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0101%	8h	92.040	+0.126%	$70K	$1.1M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.910	−0.015%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.945	+0.023%	$418K	$299K	10x	as long as short
BloFin CRCL-USDT	+0.0131%	8h	92.010	+0.094%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCLlong	+0.0182%	1h	91.924	long leg	$27K	$82K	10x
edgeX CRCLUSDC	+0.0275%	4h	92.028	+0.113%	$51K	$275K	10x	as long as short
Lighter CRCLshort	+0.0280%	1h	91.942	+0.020%	$3.0M	$2.4M	10x
Deribit CRCL_USDC-PERPETUAL	+0.0294%	1h	91.930	+0.007%	$4K	$768K	10x	as long as short
Nado CRCL-PERP	+0.0359%	1h	91.897	−0.030%	$134K	$107K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.350	+0.463%	$5K	$19K	30x	as long as short