CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0030%/8h= −3.3% APRnext payment −$0.04 per $10,000 · paid last 24h +0.013%

Price spread now: tradeXYZ against QFEX−0.078%7-day average −0.015% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$360.357% of the position

Long on QFEX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.032%+$3 on $10k

Price spread, last 7 days+0.039%+$4 · spread now −0.078%, 7d avg −0.015%

Together, before fees+0.071%+ Points / potential airdroptradeXYZ: Active · farm board+$7 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 tradeXYZ is 0.063% cheaper against QFEX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.015%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRCL-USD	92.580	0.0080	pay 0.0010% / 1h	15m 03s	$1.3M	$1.6M	10x
Short	tradeXYZ xyz:CRCL	92.508	0.0050	get 0.0006% / 1h	15m 03s	$67.7M	$40.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.078%Rate

Funding earned: −$6.3
Price spread: −0.078% → −0.015%: −$6.3
Slippage, 4 orders: −$7.7
Fee QFEX: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$48.3
Costs to cover: 0.357%
Break-even: never at this rate

Slippage from QFEX: live order book, 5 min ago; tradeXYZ: live order book, 8 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	2.17 bp	7.2 bp −$7	8.0 bp −$80	13.6 bp −$1,359	doesn't fit
Sell tradeXYZ live order book, 8 min ago	0.76 bp	10.8 bp −$11	doesn't fit	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
Vest CRCL-USD-PERP	−0.0021%	1h	92.470	−0.119%	—	$30K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.590	+0.011%	$15.0M	$25.2M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.630	+0.054%	$18.1M	$34.0M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.530	−0.054%	$1.0M	$45K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0008%	1h	92.390	−0.205%	$856K	$699K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.575	−0.005%	$1.0M	$2.5M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	92.421	−0.172%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCLshort	+0.0050%	1h	92.508	−0.078%	$67.7M	$40.7M	10x
Polymarket Perps CRCL-USD	+0.0050%	1h	92.584	+0.004%	$380K	$850K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.546	−0.037%	$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	92.400	−0.194%	$1.1M	$3.9M	10x	as long as short
Gate CRCL_USDT	+0.0061%	8h	92.640	+0.065%	$7.4M	$25.9M	50x	as long as short
QFEX CRCL-USDlong	+0.0080%	1h	92.580	long leg	$1.3M	$1.6M	10x
Pacifica CRCL	+0.0100%	1h	92.540	−0.043%	$139K	$141K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.500	−0.086%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.330	−0.270%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.580	0.000%	$923	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.575	−0.005%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0111%	8h	92.570	−0.011%	$426	$477	5x	as long as short
Phoenix CRCL	+0.0199%	1h	92.370	−0.227%	$27K	$66K	10x	as long as short
Lighter CRCL	+0.0248%	1h	92.615	+0.038%	$3.0M	$2.1M	10x	as long as short
Variational Omni CRCL	+0.0281%	8h	92.555	−0.027%	$2.5M	$3.3M	—	as long as short
Nado CRCL-PERP	+0.0314%	1h	92.498	−0.089%	$151K	$112K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0328%	8h	92.580	0.000%	$22.8M	$57.4M	50x	as long as short
Aster CRCLUSDT	+0.0355%	8h	92.560	−0.022%	$1.1M	$4.5M	20x	as long as short
Binance CRCLUSDT	+0.0360%	8h	92.580	0.000%	$107.0M	$360.7M	50x	as long as short
Extended CRCL_24_5-USD	+0.0360%	1h	92.542	−0.042%	$1.1M	$4.2M	10x	as long as short
Arcus CRCL-USD	+0.0368%	1h	92.580	0.000%	$96K	$226K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0399%	1h	92.550	−0.032%	$5K	$477K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.090	−0.529%	$38K	$172K	30x	as long as short
RISEx CRCL/USDC	+0.0479%	1h	92.615	+0.038%	$411K	$242K	10x	as long as short
BloFin CRCL-USDT	+0.0480%	8h	92.600	+0.022%	$1.1M	$1.7M	20x	as long as short
edgeX CRCLUSDC	+0.0638%	4h	92.445	−0.146%	$53K	$270K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0722%	8h	92.474	−0.115%	$70K	$1.0M	10x	as long as short