CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0180%/8h= −19.7% APRnext payment −$0.22 per $10,000 · paid last 24h −0.031%

Price spread now: Lighter RH against Phoenix+0.091%7-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 RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.164%−$16 on $10k

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

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

The price spread pays, funding is against you. Lighter RH is 0.091% dearer against Phoenix than usual: you sell high and buy low (spread +0.091% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 41 hours. At the pace of the last 7 days (−0.164% in total) that is about 3.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix CRCL	94.180	0.0212	pay 0.0026% / 1h	5m 27s	$28K	$92K	10x
Short	Lighter RH CRCL	94.266	0.0032	get 0.0004% / 1h	5m 27s	$888K	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.091%Rate

Funding earned: −$37.77
Price spread: +0.091% → 0.000%: $9.13
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$35.63
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Phoenix: no order-book sample; Lighter RH: live order book, 3 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 RH live order book, 3 min ago	3.24 bp	3.4 bp −$3	6.5 bp −$65	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	94.230	+0.053%	$7.2M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.180	0.000%	$1.0M	$52K	10x	as long as short
Lighter RH CRCLshort	+0.0032%	1h	94.266	+0.091%	$888K	$2.9M	10x
QFEX CRCL-USD	+0.0033%	1h	94.150	−0.032%	$1.4M	$2.7M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.130	−0.053%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0048%	1h	94.229	+0.052%	$2K	$20K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.233	+0.056%	$365K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.209	+0.031%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.160	−0.021%	$1.1M	$5.9M	10x	as long as short
Bybit CRCLUSDT	+0.0076%	8h	94.260	+0.085%	$15.5M	$25.8M	50x	as long as short

Show 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	−0.085%	$936K	$720K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.180	0.000%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.250	+0.074%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.190	+0.011%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.210	+0.032%	$939	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.256	+0.081%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0124%	8h	94.218	+0.041%	$773	$740	5x	as long as short
Variational Omni CRCL	+0.0128%	8h	94.142	−0.040%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	+0.0132%	8h	94.200	+0.021%	$62K	$1.1M	10x	as long as short
RISEx CRCL/USDC	+0.0159%	1h	94.237	+0.061%	$430K	$310K	10x	as long as short
Extended CRCL_24_5-USD	+0.0160%	1h	94.210	+0.032%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0161%	8h	94.240	+0.064%	$108.4M	$388.4M	50x	as long as short
tradeXYZ xyz:CRCL	+0.0172%	1h	94.217	+0.039%	$70.6M	$42.7M	10x	as long as short
Aster CRCLUSDT	+0.0178%	8h	94.202	+0.024%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0190%	8h	94.260	+0.085%	$22.7M	$60.4M	50x	as long as short
Phoenix CRCLlong	+0.0212%	1h	94.180	long leg	$28K	$92K	10x
Arcus CRCL-USD	+0.0214%	1h	94.180	0.000%	$96K	$275K	10x	as long as short
Nado CRCL-PERP	+0.0253%	1h	94.174	−0.007%	$126K	$73K	3x	as long as short
BloFin CRCL-USDT	+0.0284%	8h	94.260	+0.085%	$1.1M	$580K	20x	as long as short
Lighter CRCL	+0.0288%	1h	94.260	+0.085%	$3.0M	$2.3M	10x	as long as short
Bitget CRCLUSDT	+0.0305%	8h	94.270	+0.096%	$16.6M	$35.1M	25x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0387%	1h	94.230	+0.053%	$4K	$772K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.760	+0.616%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0698%	4h	94.147	−0.036%	$24K	$267K	10x	as long as short