CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0330%/8h= +36.2% APRnext payment +$0.41 per $10,000 · paid last 24h +0.076%

Price spread now: Lighter against QFEX+0.018%7-day average +0.107% · 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−$170.175% of the position

Long on QFEX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.120%+$12 on $10k

Price spread, last 7 days+0.067%+$7 · spread now +0.018%, 7d avg +0.107%

Together, before fees+0.187%+ Points / potential airdropLighter: Season 3 · farm board+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.089% cheaper against QFEX than usual: you would sell low and buy high (spread +0.018% now, against its 7-day average of +0.107%). If the spread goes back, that is −$9 on $10k: about 22 hours of funding at the current rate (+$10 a day). At the pace of the last 3 days (+0.120% in total) that is about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRCL-USD	94.740	0.0022	pay 0.0003% / 1h	19m 32s	$1.4M	$2.8M	10x
Short	Lighter CRCL	94.757	0.0352	get 0.0044% / 1h	19m 32s	$3.1M	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.018%Rate

Funding earned: $69.35
Price spread: +0.018% → +0.107%: −$8.93
Slippage, 4 orders: −$7.49
Fee QFEX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $42.93
Costs to cover: 0.175%
Break-even: 2.7 days

Slippage from QFEX: live order book, 3 min ago; Lighter: live order book, 3 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	2.11 bp	7.1 bp −$7	8.7 bp −$87	12.5 bp −$1,254	doesn't fit
Sell Lighter live order book, 3 min ago	1.00 bp	1.0 bp −$1	4.4 bp −$44	37.4 bp −$3,735	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	94.770	+0.032%	$7.2M	$27.7M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.730	−0.011%	$1.0M	$52K	10x	as long as short
QFEX CRCL-USDlong	+0.0022%	1h	94.740	long leg	$1.4M	$2.8M	10x
Lighter RH CRCL	+0.0032%	1h	94.758	+0.019%	$895K	$2.9M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	94.510	−0.243%	$940K	$723K	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.690	−0.053%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.745	+0.005%	$367K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.707	−0.035%	$48K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.630	−0.116%	$1.1M	$5.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0054%	1h	94.770	+0.032%	$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
Pacifica CRCL	+0.0100%	1h	94.700	−0.042%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.720	−0.021%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.620	−0.127%	$70K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.750	+0.011%	$945	$3K	10x	as long as short
Bybit CRCLUSDT	+0.0103%	8h	94.800	+0.063%	$15.6M	$25.9M	50x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.763	+0.024%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0118%	8h	94.734	−0.006%	$777	$740	5x	as long as short
tradeXYZ xyz:CRCL	+0.0175%	1h	94.768	+0.030%	$71.2M	$42.9M	10x	as long as short
Variational Omni CRCL	+0.0184%	8h	94.712	−0.029%	$2.5M	$3.1M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0197%	8h	94.800	+0.063%	$22.9M	$60.8M	50x	as long as short
GRVT CRCL_USDT_Perp	+0.0233%	8h	94.746	+0.007%	$61K	$1.1M	10x	as long as short
Extended CRCL_24_5-USD	+0.0240%	1h	94.738	−0.002%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0245%	8h	94.770	+0.032%	$109.8M	$390.2M	50x	as long as short
Aster CRCLUSDT	+0.0248%	8h	94.730	−0.011%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0273%	1h	94.658	−0.087%	$127K	$73K	3x	as long as short
Phoenix CRCL	+0.0288%	1h	94.779	+0.041%	$28K	$92K	10x	as long as short
Bitget CRCLUSDT	+0.0304%	8h	94.770	+0.032%	$16.9M	$35.4M	25x	as long as short
Lighter CRCLshort	+0.0352%	1h	94.757	+0.018%	$3.1M	$2.2M	10x
BloFin CRCL-USDT	+0.0361%	8h	94.680	−0.063%	$1.1M	$600K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	95.560	+0.866%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0533%	1h	94.740	0.000%	$97K	$275K	10x	as long as short
RISEx CRCL/USDC	+0.0534%	1h	94.775	+0.037%	$432K	$303K	10x	as long as short
edgeX CRCLUSDC	+0.0768%	4h	94.705	−0.037%	$24K	$268K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0912%	1h	94.780	+0.042%	$4K	$772K	10x	as long as short