CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0511%/8h= +56.0% APRnext payment +$0.64 per $10,000 · paid last 24h +0.053%

Price spread now: Arcus against QFEX−0.021%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$330.335% of the position

Long on QFEX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.079%+$8 on $10k

Price spread, last 4 days (all we have)−0.034%−$3 · spread now −0.021%, 7d avg −0.051%

Together, before fees+0.045%+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Arcus is 0.030% dearer against QFEX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.051%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.079% in total (about 8.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.64 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRCL-USD	94.730	0.0022	pay 0.0003% / 1h	22m 47s	$1.4M	$2.7M	10x
Short	Arcus CRCL-USD	94.710	0.0533	get 0.0067% / 1h	22m 47s	$97K	$275K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against QFEX. 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 QFEXbpFee ArcusbpOrdersPrice spread, now −0.021%Rate

Funding earned: $107.33
Price spread: −0.021% → −0.051%: $3
Slippage, 4 orders: −$18.98
Fee QFEX: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $76.85
Costs to cover: 0.335%
Break-even: 2.0 days

Slippage from QFEX: live order book, 5 min ago; Arcus: live order book, 56 min ago.

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 QFEX live order book, 5 min ago	2.11 bp	7.1 bp −$7	7.1 bp −$71	12.4 bp −$1,243	doesn't fit
Sell Arcus live order book, 56 min ago	3.18 bp	10.1 bp −$10	10.7 bp −$107	doesn't fit	doesn't fit

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	94.750	+0.021%	$7.2M	$27.7M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.750	+0.021%	$1.0M	$51K	10x	as long as short
QFEX CRCL-USDlong	+0.0022%	1h	94.730	long leg	$1.4M	$2.7M	10x
Lighter RH CRCL	+0.0032%	1h	94.783	+0.056%	$895K	$2.9M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	94.510	−0.232%	$940K	$723K	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.670	−0.063%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.693	−0.039%	$367K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.721	−0.010%	$48K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.610	−0.127%	$1.1M	$5.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0053%	1h	94.722	−0.008%	$2K	$21K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CRCLUSDT	+0.0099%	8h	94.780	+0.053%	$15.6M	$25.9M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	94.750	+0.021%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.720	−0.011%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.640	−0.095%	$70K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.720	−0.011%	$944	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.731	+0.001%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0114%	8h	94.769	+0.041%	$777	$740	5x	as long as short
tradeXYZ xyz:CRCL	+0.0169%	1h	94.734	+0.004%	$71.2M	$42.9M	10x	as long as short
Variational Omni CRCL	+0.0174%	8h	94.744	+0.015%	$2.5M	$3.1M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0196%	8h	94.800	+0.074%	$22.9M	$60.8M	50x	as long as short
GRVT CRCL_USDT_Perp	+0.0223%	8h	94.781	+0.054%	$61K	$1.1M	10x	as long as short
Extended CRCL_24_5-USD	+0.0232%	1h	94.726	−0.004%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0236%	8h	94.767	+0.039%	$109.8M	$390.1M	50x	as long as short
Aster CRCLUSDT	+0.0239%	8h	94.730	0.000%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0271%	1h	94.630	−0.106%	$127K	$73K	3x	as long as short
Phoenix CRCL	+0.0288%	1h	94.774	+0.046%	$28K	$92K	10x	as long as short
Bitget CRCLUSDT	+0.0303%	8h	94.750	+0.021%	$17.0M	$35.4M	25x	as long as short
Lighter CRCL	+0.0344%	1h	94.805	+0.079%	$3.1M	$2.2M	10x	as long as short
BloFin CRCL-USDT	+0.0354%	8h	94.680	−0.053%	$1.1M	$600K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	95.560	+0.876%	$5K	$19K	30x	as long as short
Arcus CRCL-USDshort	+0.0533%	1h	94.710	−0.021%	$97K	$275K	10x
RISEx CRCL/USDC	+0.0534%	1h	94.756	+0.028%	$432K	$303K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0806%	1h	94.780	+0.053%	$4K	$772K	10x	as long as short
edgeX CRCLUSDC	+0.0815%	4h	94.703	−0.029%	$24K	$267K	10x	as long as short