CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0126%/8h= +13.8% APRnext payment +$0.16 per $10,000 · paid last 24h +0.106%

Price spread now: Deribit against QFEX+0.077%7-day average −0.002% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

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

Long on QFEX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.204%+$20 on $10k

Price spread, last 4 days (all we have)−0.219%−$22 · spread now +0.077%, 7d avg −0.002%

Together, before fees−0.014%−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Deribit is 0.079% dearer against QFEX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRCL-USD	90.620	0.0065	pay 0.0008% / 1h	26m 23s	$1.3M	$1.7M	10x
Short	Deribit CRCL_USDC-PERPETUAL	90.690	0.0191	get 0.0024% / 1h	26m 23s	$5K	$762K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.077%Rate

Funding earned: $26.47
Price spread: +0.077% → −0.002%: $7.89
Slippage, 4 orders: −$16.48
Fee QFEX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $0.89
Costs to cover: 0.335%
Break-even: 6.8 days

Slippage from QFEX: live order book, 5 min ago; Deribit: live order book, 7 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	1.65 bp	6.6 bp −$7	6.6 bp −$66	12.2 bp −$1,221	doesn't fit
Sell Deribit live order book, 7 min ago	6.59 bp	10.1 bp −$10	12.6 bp −$126	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
Vest CRCL-USD-PERP	−0.0103%	1h	90.370	−0.276%	—	$31K	25x	as long as short
Bitget CRCLUSDT	−0.0008%	8h	90.660	+0.044%	$17.4M	$36.0M	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	90.650	+0.033%	$14.9M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	90.630	+0.011%	$7.7M	$26.5M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	90.730	+0.121%	$1.0M	$47K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0008%	8h	90.967	+0.383%	$71K	$1.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	90.696	+0.084%	$975K	$2.4M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	90.560	−0.066%	$933K	$560K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0036%	1h	90.822	+0.222%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	90.620	0.000%	$94K	$278K	10x	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	90.542	−0.086%	$67.0M	$44.6M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	90.560	−0.066%	$374K	$1.0M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	90.688	+0.075%	$45K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	90.550	−0.077%	$1.1M	$4.7M	10x	as long as short
QFEX CRCL-USDlong	+0.0065%	1h	90.620	long leg	$1.3M	$1.7M	10x
Pacifica CRCL	+0.0100%	1h	90.620	0.000%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	90.650	+0.033%	$2.6M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	90.950	+0.364%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	90.710	+0.099%	$904	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	90.728	+0.119%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0120%	8h	90.663	+0.047%	$417	$766	5x	as long as short
Variational Omni CRCL	+0.0148%	8h	90.940	+0.353%	$2.4M	$3.3M	—	as long as short
Deribit CRCL_USDC-PERPETUALshort	+0.0191%	1h	90.690	+0.077%	$5K	$762K	10x
Lighter CRCL	+0.0200%	1h	90.696	+0.084%	$2.9M	$2.1M	10x	as long as short
Aster CRCLUSDT	+0.0201%	8h	90.681	+0.067%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0214%	8h	90.648	+0.030%	$103.9M	$386.8M	50x	as long as short
Extended CRCL_24_5-USD	+0.0216%	1h	90.666	+0.051%	$1.1M	$5.1M	10x	as long as short
Phoenix CRCL	+0.0254%	1h	90.710	+0.099%	$27K	$66K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0281%	8h	90.620	0.000%	$22.1M	$61.3M	50x	as long as short
edgeX CRCLUSDC	+0.0304%	4h	90.952	+0.366%	$52K	$271K	10x	as long as short
BloFin CRCL-USDT	+0.0336%	8h	90.700	+0.088%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0359%	1h	90.631	+0.013%	$133K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.170	+1.710%	$108K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0501%	1h	90.687	+0.074%	$409K	$258K	10x	as long as short