CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0106%/8h= −11.7% APRnext payment −$0.13 per $10,000 · paid last 24h +0.018%

Price spread now: Coinbase International against QFEX−0.148%7-day average −0.032% · 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−$57as in the Price arb table

costs, in and out, $10k−$450.454% of the position

Long on QFEX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.105%+$11 on $10k

Price spread, last 3 days (all we have)+0.103%+$10 · spread now −0.148%, 7d avg −0.032%

Together, before fees+0.208%+$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Coinbase International is 0.116% cheaper against QFEX than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.032%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.105%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRCL-USD	94.350	0.0042	pay 0.0005% / 1h	29m 34s	$1.4M	$2.6M	10x
Short	Coinbase International CRCL-PERP-INTX	94.210	−0.0064	pay 0.0008% / 1h	29m 34s	$942K	$622K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.148%Rate

Funding earned: −$22.36
Price spread: −0.148% → −0.032%: −$11.63
Slippage, 4 orders: −$25.36
Fee QFEX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$79.35
Costs to cover: 0.454%
Break-even: never at this rate

Slippage from QFEX: live order book, 3 min ago; Coinbase International: live order book, 44 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, 3 min ago	1.59 bp	6.6 bp −$7	10.0 bp −$100	doesn't fit	doesn't fit
Sell Coinbase International live order book, 44 min ago	5.29 bp	21.9 bp −$22	27.4 bp −$274	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
Coinbase International CRCL-PERP-INTXshort	−0.0064%	1h	94.210	−0.148%	$942K	$622K	10x
Bybit CRCLUSDT	0.0000%	8h	94.380	+0.032%	$15.5M	$25.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.410	+0.064%	$7.2M	$27.0M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.462	+0.119%	$68K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.340	−0.011%	$1.0M	$51K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.399	+0.052%	$889K	$2.8M	10x	as long as short
Bitget CRCLUSDT	+0.0033%	8h	94.420	+0.074%	$17.0M	$34.7M	25x	as long as short
Aftermath Perps CRCLUSD	+0.0042%	1h	94.325	−0.026%	$2K	$22K	5x	as long as short
QFEX CRCL-USDlong	+0.0042%	1h	94.350	long leg	$1.4M	$2.6M	10x
Vest CRCL-USD-PERP	+0.0046%	1h	94.310	−0.042%	—	$37K	25x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CRCL	+0.0050%	1h	94.340	−0.011%	$71.8M	$42.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.402	+0.055%	$366K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.404	+0.057%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.310	−0.042%	$1.0M	$5.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.350	0.000%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.410	+0.064%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.300	−0.053%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.430	+0.085%	$941	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.433	+0.088%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0105%	8h	94.412	+0.066%	$774	$740	5x	as long as short
Variational Omni CRCL	+0.0127%	8h	94.450	+0.106%	$2.5M	$3.1M	—	as long as short
edgeX CRCLUSDC	+0.0141%	4h	94.435	+0.090%	$24K	$269K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0151%	8h	94.380	+0.032%	$22.8M	$59.4M	50x	as long as short
Extended CRCL_24_5-USD	+0.0192%	1h	94.368	+0.019%	$1.1M	$5.9M	10x	as long as short
Binance CRCLUSDT	+0.0193%	8h	94.383	+0.035%	$109.3M	$386.3M	50x	as long as short
Aster CRCLUSDT	+0.0199%	8h	94.400	+0.053%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0226%	1h	94.360	+0.010%	$132K	$76K	3x	as long as short
Phoenix CRCL	+0.0296%	1h	94.328	−0.023%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0304%	1h	94.394	+0.047%	$3.1M	$2.2M	10x	as long as short
BloFin CRCL-USDT	+0.0314%	8h	94.460	+0.117%	$1.1M	$561K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.890	+0.572%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0492%	1h	94.430	+0.085%	$4K	$769K	10x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.360	+0.011%	$96K	$273K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	94.386	+0.039%	$431K	$299K	10x	as long as short