CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0267%/8h= +29.2% APRnext payment +$0.33 per $10,000 · paid last 24h +0.040%

Price spread now: Phoenix against QFEX+0.025%52s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on QFEX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Phoenix is 0.025% dearer against QFEX than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRCL-USD	94.750	0.0022	pay 0.0003% / 1h	22m 00s	$1.4M	$2.7M	10x
Short	Phoenix CRCL	94.774	0.0288	get 0.0036% / 1h	22m 00s	$28K	$92K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.025%Rate

Funding earned: $55.98
Price spread: +0.025% → 0.000%: $2.53
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $41.51
Costs to cover: 0.170%
Break-even: 1.8 days

Slippage unknown: QFEX: live order book, 5 min ago; Phoenix: no order-book sample. Net counts fees only.

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	2.11 bp	7.1 bp −$7	7.1 bp −$71	12.4 bp −$1,243	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	94.760	+0.011%	$7.2M	$27.7M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.740	−0.011%	$1.0M	$52K	10x	as long as short
QFEX CRCL-USDlong	+0.0022%	1h	94.750	long leg	$1.4M	$2.7M	10x
Lighter RH CRCL	+0.0032%	1h	94.795	+0.047%	$895K	$2.9M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	94.510	−0.253%	$940K	$723K	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.700	−0.053%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.739	−0.012%	$367K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.747	−0.003%	$48K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.610	−0.148%	$1.1M	$5.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0054%	1h	94.777	+0.029%	$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
Bybit CRCLUSDT	+0.0099%	8h	94.790	+0.042%	$15.6M	$25.9M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	94.750	0.000%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.730	−0.021%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.640	−0.116%	$70K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.750	0.000%	$945	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.776	+0.027%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0114%	8h	94.769	+0.020%	$777	$740	5x	as long as short
tradeXYZ xyz:CRCL	+0.0172%	1h	94.729	−0.022%	$71.2M	$42.9M	10x	as long as short
Variational Omni CRCL	+0.0174%	8h	94.744	−0.006%	$2.5M	$3.1M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0198%	8h	94.780	+0.032%	$22.9M	$60.8M	50x	as long as short
GRVT CRCL_USDT_Perp	+0.0223%	8h	94.781	+0.032%	$61K	$1.1M	10x	as long as short
Extended CRCL_24_5-USD	+0.0232%	1h	94.722	−0.029%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0236%	8h	94.770	+0.021%	$109.8M	$390.2M	50x	as long as short
Aster CRCLUSDT	+0.0239%	8h	94.730	−0.021%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0270%	1h	94.671	−0.083%	$127K	$73K	3x	as long as short
Phoenix CRCLshort	+0.0288%	1h	94.774	+0.025%	$28K	$92K	10x
Bitget CRCLUSDT	+0.0302%	8h	94.790	+0.042%	$17.0M	$35.4M	25x	as long as short
Lighter CRCL	+0.0352%	1h	94.808	+0.061%	$3.1M	$2.2M	10x	as long as short
BloFin CRCL-USDT	+0.0354%	8h	94.680	−0.074%	$1.1M	$600K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	95.560	+0.855%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0533%	1h	94.770	+0.021%	$97K	$275K	10x	as long as short
RISEx CRCL/USDC	+0.0534%	1h	94.778	+0.030%	$432K	$303K	10x	as long as short
edgeX CRCLUSDC	+0.0815%	4h	94.703	−0.050%	$24K	$267K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.1123%	1h	94.800	+0.053%	$4K	$772K	10x	as long as short