Funding you earn now, next payment 08:00 UTC−0.0204%/8h= −22.3% APRnext payment −$0.25 per $10,000 · paid last 24h −0.048%
Price spread now: Ondo Perps against Phoenix−0.132%108s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.179%−$18 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories
Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Ondo Perps is 0.132% cheaper against Phoenix than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 108 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 | 90.710 | 0.0254 | pay 0.0032% / 1h | 25m 46s | $27K | $66K | 10x |
| Short | Ondo Perps CRCL-USD.P | 90.590 | 0.0050 | get 0.0006% / 1h | 25m 46s | $1.1M | $4.7M | 10x |
Phoenix CRCL
Ondo Perps CRCL-USD.PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Ondo Perps 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
- −$42.8
- Price spread: −0.132% → 0.000%
- −$13.23
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Net
- −$68.03
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Ondo Perps: no order-book sample. 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 Ondo Perps no order-book sample | — | — | — | — | — |
Phoenix and Ondo Perps: 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 | |
|---|---|---|---|---|---|---|---|---|
| Vest CRCL-USD-PERP | −0.0103% | 1h | 90.370 | −0.375% | — | $31K | 25x | as long as short |
| Bybit CRCLUSDT | 0.0000% | 8h | 90.690 | −0.022% | $14.8M | $26.7M | 50x | as long as short |
| Gate CRCL_USDT | 0.0000% | 8h | 90.620 | −0.099% | $7.7M | $26.5M | 50x | as long as short |
| Bitget CRCLUSDT | 0.0000% | 8h | 90.750 | +0.044% | $17.4M | $36.0M | 25x | as long as short |
| Phemex CRCLUSDT | 0.0000% | 4h | 90.590 | −0.132% | $1.0M | $47K | 10x | as long as short |
| GRVT CRCL_USDT_Perp | +0.0008% | 8h | 90.967 | +0.283% | $71K | $1.1M | 10x | as long as short |
| Lighter RH CRCL | +0.0032% | 1h | 90.666 | −0.049% | $975K | $2.4M | 10x | as long as short |
| Coinbase International CRCL-PERP-INTX | +0.0032% | 1h | 90.560 | −0.165% | $933K | $562K | 10x | as long as short |
| Aftermath Perps CRCLUSD | +0.0036% | 1h | 90.822 | +0.123% | $2K | $29K | 5x | as long as short |
| Arcus CRCL-USD | +0.0040% | 1h | 90.620 | −0.099% | $94K | $278K | 10x | as long as short |
Vest CRCL-USD-PERP
Bybit CRCLUSDT
Gate CRCL_USDT
Bitget CRCLUSDT
Phemex CRCLUSDT
GRVT CRCL_USDT_Perp
Lighter RH CRCL
Coinbase International CRCL-PERP-INTX
Aftermath Perps CRCLUSD
Arcus CRCL-USDShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:CRCL | +0.0050% | 1h | 90.591 | −0.131% | $67.0M | $44.6M | 10x | as long as short |
| Polymarket Perps CRCL-USD | +0.0050% | 1h | 90.560 | −0.165% | $374K | $1.0M | 10x | as long as short |
| SoDEX CRCL-USD | +0.0050% | 1h | 90.580 | −0.143% | $45K | $3K | 10x | as long as short |
| Ondo Perps CRCL-USD.Pshort | +0.0050% | 1h | 90.590 | −0.132% | $1.1M | $4.7M | 10x | |
| QFEX CRCL-USD | +0.0065% | 1h | 90.620 | −0.099% | $1.3M | $1.7M | 10x | as long as short |
| Deribit CRCL_USDC-PERPETUAL | +0.0081% | 1h | 90.570 | −0.154% | $5K | $762K | 10x | as long as short |
| Pacifica CRCL | +0.0100% | 1h | 90.620 | −0.099% | $133K | $158K | 10x | as long as short |
| KuCoin CRCLUSDTM | +0.0100% | 8h | 90.670 | −0.044% | $2.6M | $1.7M | 20x | as long as short |
| ApeX Omni CRCLUSDT | +0.0100% | 1h | 90.950 | +0.265% | $67K | $4K | 50x | as long as short |
| Orderly PERP_CRCL_USDC_mythos | +0.0100% | 8h | 90.660 | −0.055% | $904 | $1K | 10x | as long as short |
| Aevo CRCL-PERP | +0.0104% | 1h | 90.611 | −0.109% | $4 | — | 10x | as long as short |
| Paradex CRCL-USD-PERP | +0.0120% | 8h | 90.601 | −0.120% | $417 | $766 | 5x | as long as short |
| Variational Omni CRCL | +0.0136% | 8h | 90.587 | −0.135% | $2.4M | $3.3M | — | as long as short |
| Aster CRCLUSDT | +0.0199% | 8h | 90.670 | −0.044% | $1.0M | $5.0M | 20x | as long as short |
| Lighter CRCL | +0.0200% | 1h | 90.650 | −0.066% | $2.9M | $2.1M | 10x | as long as short |
| Binance CRCLUSDT | +0.0210% | 8h | 90.671 | −0.042% | $104.0M | $386.2M | 50x | as long as short |
| Extended CRCL_24_5-USD | +0.0216% | 1h | 90.585 | −0.138% | $1.1M | $5.1M | 10x | as long as short |
| Phoenix CRCLlong | +0.0254% | 1h | 90.710 | long leg | $27K | $66K | 10x | |
| OKX CRCL-USDT-SWAP | +0.0278% | 8h | 90.700 | −0.011% | $22.1M | $61.3M | 50x | as long as short |
| edgeX CRCLUSDC | +0.0304% | 4h | 90.952 | +0.267% | $52K | $271K | 10x | as long as short |
| BloFin CRCL-USDT | +0.0336% | 8h | 90.700 | −0.011% | $1.1M | $1.7M | 20x | as long as short |
| Nado CRCL-PERP | +0.0359% | 1h | 90.631 | −0.087% | $133K | $109K | 3x | as long as short |
| Injective CRCL/USDC PERP | +0.0440% | 1h | 92.170 | +1.610% | $108K | $19K | 30x | as long as short |
| RISEx CRCL/USDC | +0.0501% | 1h | 90.687 | −0.025% | $409K | $258K | 10x | as long as short |
tradeXYZ xyz:CRCL
Polymarket Perps CRCL-USD
SoDEX CRCL-USD
QFEX CRCL-USD
Deribit CRCL_USDC-PERPETUAL
Pacifica CRCL
KuCoin CRCLUSDTM
ApeX Omni CRCLUSDT
Orderly PERP_CRCL_USDC_mythos
Aevo CRCL-PERP
Paradex CRCL-USD-PERP
Variational Omni CRCL
Aster CRCLUSDT
Lighter CRCL
Binance CRCLUSDT
Extended CRCL_24_5-USD
OKX CRCL-USDT-SWAP
edgeX CRCLUSDC
BloFin CRCL-USDT
Nado CRCL-PERP
Injective CRCL/USDC PERP
RISEx CRCL/USDC