CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0158%/8h= +17.3% APRnext payment +$0.20 per $10,000 · paid last 24h +0.062%

Price spread now: Lighter against tradeXYZ+0.070%7-day average +0.123% · you sell dearer than you buy

Net, funding: paid 7d − costs+$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$240.244% of the position

Long on tradeXYZ Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.598%+$60 on $10k

Price spread, last 7 days+0.059%+$6 · spread now +0.070%, 7d avg +0.123%

Together, before fees+0.657%+ Points / potential airdroptradeXYZ: Active · Lighter: Season 3 · farm board+$66 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.054% cheaper against tradeXYZ than usual: you would sell low and buy high (spread +0.070% now, against its 7-day average of +0.123%). If the spread goes back, that is −$5 on $10k: about 27 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:CRCL	92.053	0.0050	pay 0.0006% / 1h	34m 01s	$69.4M	$41.9M	10x
Short	Lighter CRCL	92.117	0.0208	get 0.0026% / 1h	34m 01s	$3.0M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.070%Rate

Funding earned: $33.18
Price spread: +0.070% → +0.123%: −$5.38
Slippage, 4 orders: −$6.4
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Lighter: 0 bp × 2 orders: $0
Net: $3.4
Costs to cover: 0.244%
Break-even: 6.3 days

Slippage from tradeXYZ: live order book, 4 min ago; Lighter: 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 tradeXYZ live order book, 4 min ago	0.27 bp	9.9 bp −$10	11.5 bp −$115	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	1.47 bp	2.7 bp −$3	8.3 bp −$83	46.6 bp −$4,665	doesn't fit

CRCL on 33 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	−0.0424%	8h	92.140	+0.095%	$16.0M	$35.3M	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.990	−0.068%	$916K	$583K	10x	as long as short
Vest CRCL-USD-PERP	−0.0002%	1h	91.870	−0.199%	—	$37K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.050	−0.003%	$15.1M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.124	+0.077%	$421K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.140	+0.095%	$7.2M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.051	−0.002%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.790	−0.286%	$61K	$1.1M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	0.0000%	1h	92.050	−0.003%	$4K	$769K	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.060	+0.008%	$1.0M	$49K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0026%	1h	92.041	−0.013%	$2K	$23K	5x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.101	+0.052%	$979K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.000	−0.058%	$93K	$272K	10x	as long as short
tradeXYZ xyz:CRCLlong	+0.0050%	1h	92.053	long leg	$69.4M	$41.9M	10x
Polymarket Perps CRCL-USD	+0.0050%	1h	92.080	+0.029%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.082	+0.032%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.850	−0.221%	$1.0M	$5.5M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	92.100	+0.051%	$1.3M	$2.4M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0076%	8h	92.050	−0.003%	$21.7M	$60.3M	50x	as long as short
Binance CRCLUSDT	+0.0079%	8h	92.040	−0.014%	$105.0M	$392.6M	50x	as long as short
Extended CRCL_24_5-USD	+0.0080%	1h	92.040	−0.015%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0082%	8h	92.084	+0.033%	$1.1M	$4.9M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0083%	8h	92.165	+0.121%	$756	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	92.127	+0.081%	$129K	$154K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.110	+0.062%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.890	−0.177%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.080	+0.029%	$918	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.089	+0.039%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0168%	1h	92.094	+0.044%	$131K	$103K	3x	as long as short
Lighter CRCLshort	+0.0208%	1h	92.117	+0.070%	$3.0M	$2.4M	10x
Phoenix CRCL	+0.0231%	1h	91.730	−0.351%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.370	+0.344%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0565%	4h	91.735	−0.346%	$23K	$267K	10x	as long as short