CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0113%/8h= −12.4% APRnext payment −$0.14 per $10,000 · paid last 24h +0.005%

Price spread now: Coinbase International against tradeXYZ−0.036%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$410.405% of the position

Long on tradeXYZ Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.121%+$12 on $10k

Price spread, last 3 days (all we have)+0.081%+$8 · spread now −0.036%, 7d avg +0.001%

Together, before fees+0.202%+ Points / potential airdroptradeXYZ: Active · farm board+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Coinbase International is 0.037% cheaper against tradeXYZ than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.001%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.121%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:CRCL	94.544	0.0145	pay 0.0018% / 1h	13m 43s	$71.6M	$43.6M	10x
Short	Coinbase International CRCL-PERP-INTX	94.510	0.0032	get 0.0004% / 1h	13m 43s	$940K	$723K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against tradeXYZ. 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 tradeXYZbpFee Coinbase InternationalbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$23.72
Price spread: −0.036% → +0.001%: −$3.71
Slippage, 4 orders: −$12.53
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$67.96
Costs to cover: 0.405%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 6 min ago; Coinbase International: live order book, 65 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 tradeXYZ live order book, 6 min ago	1.05 bp	10.6 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 65 min ago	4.24 bp	9.2 bp −$9	14.3 bp −$143	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
Gate CRCL_USDT	0.0000%	8h	94.600	+0.059%	$7.2M	$27.8M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.610	+0.070%	$1.0M	$52K	10x	as long as short
QFEX CRCL-USD	+0.0022%	1h	94.530	−0.015%	$1.4M	$2.7M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.606	+0.066%	$894K	$2.9M	10x	as long as short
Coinbase International CRCL-PERP-INTXshort	+0.0032%	1h	94.510	−0.036%	$940K	$723K	10x
Vest CRCL-USD-PERP	+0.0046%	1h	94.530	−0.015%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.541	−0.003%	$366K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.567	+0.024%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.470	−0.078%	$1.1M	$5.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0052%	1h	94.615	+0.076%	$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	+0.0097%	8h	94.580	+0.038%	$15.5M	$25.9M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	94.540	−0.004%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.630	+0.091%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.590	+0.049%	$70K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.560	+0.017%	$943	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.611	+0.071%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0114%	8h	94.553	+0.009%	$775	$740	5x	as long as short
tradeXYZ xyz:CRCLlong	+0.0145%	1h	94.544	long leg	$71.6M	$43.6M	10x
OKX CRCL-USDT-SWAP	+0.0188%	8h	94.560	+0.017%	$22.8M	$60.8M	50x	as long as short
Variational Omni CRCL	+0.0193%	8h	94.671	+0.135%	$2.5M	$3.1M	—	as long as short
Extended CRCL_24_5-USD	+0.0248%	1h	94.533	−0.012%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0249%	8h	94.550	+0.006%	$109.4M	$390.8M	50x	as long as short
Aster CRCLUSDT	+0.0251%	8h	94.580	+0.038%	$1.1M	$4.9M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0251%	8h	94.670	+0.133%	$54K	$1.1M	10x	as long as short
Nado CRCL-PERP	+0.0266%	1h	94.568	+0.025%	$133K	$76K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0279%	1h	94.590	+0.049%	$4K	$772K	10x	as long as short
Phoenix CRCL	+0.0288%	1h	94.711	+0.177%	$28K	$92K	10x	as long as short
Bitget CRCLUSDT	+0.0296%	8h	94.580	+0.038%	$16.9M	$35.5M	25x	as long as short
Lighter CRCL	+0.0328%	1h	94.625	+0.086%	$3.1M	$2.2M	10x	as long as short
BloFin CRCL-USDT	+0.0372%	8h	94.670	+0.133%	$1.1M	$600K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	95.560	+1.075%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0533%	1h	94.550	+0.006%	$97K	$276K	10x	as long as short
RISEx CRCL/USDC	+0.0534%	1h	94.565	+0.022%	$431K	$303K	10x	as long as short
edgeX CRCLUSDC	+0.0550%	4h	94.622	+0.083%	$24K	$269K	10x	as long as short