CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0036%/8h= −4.0% APRnext payment −$0.05 per $10,000 · paid last 24h −0.004%

Price spread now: Lighter RH against QFEX+0.019%7-day average +0.049% · 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−$24as in the Price arb table

costs, in and out, $10k−$210.208% of the position

Long on QFEX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.022%+$2 on $10k

Price spread, last 7 days+0.012%+$1 · spread now +0.019%, 7d avg +0.049%

Together, before fees+0.034%+ Points / potential airdropLighter RH: Points live · farm board+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Lighter RH is 0.030% cheaper against QFEX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.049%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRCL-USD	91.620	0.0068	pay 0.0009% / 1h	24m 58s	$1.3M	$1.8M	10x
Short	Lighter RH CRCL	91.637	0.0032	get 0.0004% / 1h	24m 58s	$978K	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.019%Rate

Funding earned: −$7.66
Price spread: +0.019% → +0.049%: −$3
Slippage, 4 orders: −$10.85
Fee QFEX: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$31.51
Costs to cover: 0.208%
Break-even: never at this rate

Slippage from QFEX: live order book, 7 min ago; Lighter RH: 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, 7 min ago	2.19 bp	7.2 bp −$7	8.2 bp −$82	16.9 bp −$1,694	doesn't fit
Sell Lighter RH live order book, 3 min ago	2.95 bp	3.4 bp −$3	5.6 bp −$56	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
Bitget CRCLUSDT	−0.0675%	8h	91.640	+0.022%	$17.5M	$37.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0088%	1h	91.370	−0.273%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.560	−0.065%	$14.7M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.640	+0.022%	$7.8M	$27.5M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.660	+0.044%	$1.0M	$48K	10x	as long as short
Variational Omni CRCL	+0.0003%	8h	91.579	−0.045%	$2.4M	$3.2M	—	as long as short
Lighter RH CRCLshort	+0.0032%	1h	91.637	+0.019%	$978K	$2.7M	10x
Aftermath Perps CRCLUSD	+0.0037%	1h	91.400	−0.241%	$2K	$27K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.470	−0.164%	$95K	$291K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.613	−0.008%	$46K	$3K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.410	−0.229%	$1.1M	$5.2M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0056%	1h	91.490	−0.142%	$891K	$605K	10x	as long as short
QFEX CRCL-USDlong	+0.0068%	1h	91.620	long leg	$1.3M	$1.8M	10x
tradeXYZ xyz:CRCL	+0.0072%	1h	91.555	−0.071%	$67.7M	$44.4M	10x	as long as short
Aster CRCLUSDT	+0.0088%	8h	91.594	−0.028%	$1.0M	$5.1M	20x	as long as short
Pacifica CRCL	+0.0100%	1h	91.590	−0.033%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.530	−0.098%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.430	−0.207%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.630	+0.011%	$914	$2K	10x	as long as short
Binance CRCLUSDT	+0.0103%	8h	91.570	−0.055%	$104.6M	$397.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0104%	1h	91.557	−0.068%	$1.0M	$5.0M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.636	+0.018%	$4	—	10x	as long as short
Polymarket Perps CRCL-USD	+0.0127%	1h	91.657	+0.040%	$384K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0154%	8h	91.630	+0.011%	$421	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0185%	8h	91.500	−0.131%	$67K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0200%	8h	91.580	−0.044%	$22.3M	$62.6M	50x	as long as short
BloFin CRCL-USDT	+0.0223%	8h	91.610	−0.011%	$1.1M	$1.7M	20x	as long as short
Phoenix CRCL	+0.0245%	1h	91.318	−0.330%	$27K	$82K	10x	as long as short
RISEx CRCL/USDC	+0.0271%	1h	91.562	−0.063%	$417K	$268K	10x	as long as short
Lighter CRCL	+0.0272%	1h	91.630	+0.011%	$2.9M	$2.4M	10x	as long as short
edgeX CRCLUSDC	+0.0376%	4h	91.464	−0.171%	$52K	$277K	10x	as long as short
Nado CRCL-PERP	+0.0398%	1h	91.572	−0.052%	$134K	$109K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0405%	1h	91.670	+0.055%	$5K	$769K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.100	+0.524%	$5K	$19K	30x	as long as short