CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0238%/8h= −26.1% APRnext payment −$0.30 per $10,000 · paid last 24h −0.025%

Price spread now: SoDEX against Phoenix+0.020%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 SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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. SoDEX is 0.020% dearer against Phoenix than usual: you sell high and buy low (spread +0.020% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix CRCL	94.557	0.0288	pay 0.0036% / 1h	46m 26s	$28K	$92K	10x
Short	SoDEX CRCL-USD	94.576	0.0050	get 0.0006% / 1h	46m 26s	$47K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$50.05
Price spread: +0.020% → 0.000%: $2.01
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$63.04
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; SoDEX: 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 SoDEX no order-book sample	—	—	—	—	—

Phoenix and SoDEX: 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	94.670	+0.120%	$7.2M	$27.5M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.560	+0.003%	$1.0M	$52K	10x	as long as short
QFEX CRCL-USD	+0.0022%	1h	94.650	+0.098%	$1.4M	$2.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	94.490	−0.071%	$940K	$723K	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.520	−0.039%	—	$45K	25x	as long as short
SoDEX CRCL-USDshort	+0.0050%	1h	94.576	+0.020%	$47K	$3K	10x
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.510	−0.050%	$1.1M	$5.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0051%	1h	94.534	−0.024%	$2K	$21K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0063%	1h	94.649	+0.097%	$367K	$1.1M	10x	as long as short
Lighter RH CRCL	+0.0088%	1h	94.711	+0.163%	$892K	$2.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica CRCL	+0.0100%	1h	94.620	+0.067%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.570	+0.014%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.450	−0.113%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.680	+0.130%	$944	$3K	10x	as long as short
Bybit CRCLUSDT	+0.0101%	8h	94.760	+0.215%	$15.6M	$25.9M	50x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.736	+0.190%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0113%	8h	94.523	−0.036%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0129%	8h	94.626	+0.073%	$776	$740	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0152%	8h	94.531	−0.028%	$63K	$1.1M	10x	as long as short
Binance CRCLUSDT	+0.0173%	8h	94.707	+0.159%	$109.0M	$388.8M	50x	as long as short
Extended CRCL_24_5-USD	+0.0176%	1h	94.614	+0.060%	$1.1M	$3.8M	10x	as long as short
Aster CRCLUSDT	+0.0186%	8h	94.681	+0.131%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0201%	8h	94.800	+0.257%	$22.9M	$60.7M	50x	as long as short
tradeXYZ xyz:CRCL	+0.0272%	1h	94.655	+0.104%	$71.0M	$42.7M	10x	as long as short
Phoenix CRCLlong	+0.0288%	1h	94.557	long leg	$28K	$92K	10x
BloFin CRCL-USDT	+0.0293%	8h	94.600	+0.045%	$1.1M	$589K	20x	as long as short
Nado CRCL-PERP	+0.0306%	1h	94.622	+0.069%	$127K	$73K	3x	as long as short
Bitget CRCLUSDT	+0.0313%	8h	94.690	+0.141%	$16.8M	$35.3M	25x	as long as short
Lighter CRCL	+0.0424%	1h	94.658	+0.107%	$3.1M	$2.2M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.950	+0.416%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0490%	1h	94.620	+0.067%	$4K	$772K	10x	as long as short
edgeX CRCLUSDC	+0.0525%	4h	94.516	−0.044%	$24K	$268K	10x	as long as short
Arcus CRCL-USD	+0.0533%	1h	94.650	+0.098%	$97K	$275K	10x	as long as short
RISEx CRCL/USDC	+0.0534%	1h	94.641	+0.088%	$432K	$312K	10x	as long as short