CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0225%/8h= +24.7% APRnext payment +$0.28 per $10,000 · paid last 24h +0.072%

Price spread now: Nado against QFEX+0.043%7-day average −0.009% · 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−$22as in the Price arb table

costs, in and out, $10k−$270.272% of the position

Long on QFEX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.154%+$15 on $10k

Price spread, last 4 days (all we have)−0.001%$0 · spread now +0.043%, 7d avg −0.009%

Together, before fees+0.153%+ Points / potential airdropNado: Active · farm board+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Nado is 0.052% dearer against QFEX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRCL-USD	92.680	0.0055	pay 0.0007% / 1h	6m 01s	$1.3M	$1.6M	10x
Short	Nado CRCL-PERP	92.720	0.0281	get 0.0035% / 1h	6m 01s	$154K	$94K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.043%Rate

Funding earned: $47.34
Price spread: +0.043% → −0.009%: $5.18
Slippage, 4 orders: −$10.21
Fee QFEX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $25.31
Costs to cover: 0.272%
Break-even: 3.3 days

Slippage from QFEX: live order book, 4 min ago; Nado: live order book, 39 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, 4 min ago	1.08 bp	6.1 bp −$6	7.8 bp −$78	12.9 bp −$1,293	doesn't fit
Sell Nado live order book, 39 min ago	2.15 bp	9.0 bp −$9	28.6 bp −$286	doesn't fit	doesn't fit

CRCL on 34 exchanges

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-INTX	−0.0048%	1h	92.500	−0.194%	$865K	$744K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.760	+0.086%	$15.1M	$25.0M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.760	+0.086%	$18.5M	$33.3M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.720	+0.043%	$1.0M	$46K	10x	as long as short
Vest CRCL-USD-PERP	+0.0017%	1h	92.550	−0.140%	—	$30K	25x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.762	+0.088%	$1.0M	$2.5M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	92.675	−0.005%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.663	−0.018%	$67.6M	$39.6M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.786	+0.114%	$319K	$982K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.736	+0.060%	$46K	$3K	10x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.530	−0.162%	$1.0M	$3.7M	10x	as long as short
QFEX CRCL-USDlong	+0.0055%	1h	92.680	long leg	$1.3M	$1.6M	10x
Gate CRCL_USDT	+0.0062%	8h	92.790	+0.119%	$7.5M	$25.7M	50x	as long as short
Injective CRCL/USDC PERP	+0.0072%	1h	92.090	−0.637%	$38K	$172K	30x	as long as short
Paradex CRCL-USD-PERP	+0.0076%	8h	92.729	+0.052%	$427	$477	5x	as long as short
Pacifica CRCL	+0.0100%	1h	92.704	+0.026%	$139K	$139K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.720	+0.043%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.610	−0.076%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.730	+0.054%	$925	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.757	+0.084%	$4	—	10x	as long as short
Phoenix CRCL	+0.0197%	1h	92.624	−0.060%	$27K	$66K	10x	as long as short
Variational Omni CRCL	+0.0203%	8h	92.521	−0.171%	$2.5M	$3.2M	—	as long as short
Arcus CRCL-USD	+0.0214%	1h	92.730	+0.054%	$93K	$199K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0226%	8h	92.740	+0.065%	$22.8M	$56.6M	50x	as long as short
Binance CRCLUSDT	+0.0260%	8h	92.740	+0.065%	$106.7M	$348.4M	50x	as long as short
Extended CRCL_24_5-USD	+0.0264%	1h	92.720	+0.043%	$1.1M	$4.0M	10x	as long as short
Aster CRCLUSDT	+0.0273%	8h	92.750	+0.076%	$1.1M	$4.5M	20x	as long as short
Nado CRCL-PERPshort	+0.0281%	1h	92.720	+0.043%	$154K	$94K	3x
Lighter CRCL	+0.0288%	1h	92.781	+0.109%	$3.0M	$2.1M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0289%	1h	92.750	+0.076%	$5K	$415K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0312%	8h	92.645	−0.038%	$59K	$987K	10x	as long as short
BloFin CRCL-USDT	+0.0382%	8h	92.750	+0.076%	$1.1M	$1.7M	20x	as long as short
RISEx CRCL/USDC	+0.0528%	1h	92.760	+0.086%	$416K	$225K	10x	as long as short
edgeX CRCLUSDC	+0.0760%	4h	92.591	−0.096%	$53K	$268K	10x	as long as short