CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0062%/8h= −6.8% APRnext payment −$0.08 per $10,000 · paid last 24h −0.012%

Price spread now: QFEX against tradeXYZ+0.237%7-day average +0.014% · 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−$25as in the Price arb table

costs, in and out, $10k−$470.467% of the position

Long on tradeXYZ Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.031%−$3 on $10k

Price spread, last 7 days−0.203%−$20 · spread now +0.237%, 7d avg +0.014%

Together, before fees−0.234%+ Points / potential airdroptradeXYZ: Active · farm board−$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.222% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.237% now, against its 7-day average of +0.014%): +$22 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 12 days. At the pace of the last 4 days (−0.031% in total) that is about 27 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:CRCL	95.554	0.0076	pay 0.0009% / 1h	56m 00s	$69.6M	$44.3M	10x
Short	QFEX CRCL-USD	95.780	0.0014	get 0.0002% / 1h	56m 00s	$1.4M	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against tradeXYZ. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 QFEXbpOrdersPrice spread, now +0.237%Rate

Funding earned: −$13.02
Price spread: +0.237% → +0.014%: $22.22
Slippage, 4 orders: −$18.74
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$37.54
Costs to cover: 0.467%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 7 min ago; QFEX: live order book, 4 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, 7 min ago	3.79 bp	16.7 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	2.65 bp	7.7 bp −$8	9.5 bp −$95	15.8 bp −$1,576	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	−0.0024%	1h	95.700	+0.153%	$873K	$807K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	95.720	+0.174%	$15.6M	$28.4M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	95.810	+0.268%	$426K	$228K	10x	as long as short
Bitget CRCLUSDT	0.0000%	8h	95.520	−0.036%	$18.9M	$38.2M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	95.760	+0.216%	$1.1M	$47K	10x	as long as short
QFEX CRCL-USDshort	+0.0014%	1h	95.780	+0.237%	$1.4M	$1.7M	10x
Lighter RH CRCL	+0.0032%	1h	95.817	+0.275%	$1.0M	$2.6M	10x	as long as short
Injective CRCL/USDC PERP	+0.0033%	1h	95.630	+0.080%	$39K	$172K	30x	as long as short
Vest CRCL-USD-PERP	+0.0034%	1h	95.610	+0.059%	—	$30K	25x	as long as short
Gate CRCL_USDT	+0.0034%	8h	95.640	+0.090%	$7.8M	$25.8M	50x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0034%	1h	94.479	−1.125%	$2K	$29K	5x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	95.820	+0.278%	$1.0M	$4.3M	10x	as long as short
Arcus CRCL-USD	+0.0057%	1h	95.740	+0.195%	$96K	$229K	10x	as long as short
tradeXYZ xyz:CRCLlong	+0.0076%	1h	95.554	long leg	$69.6M	$44.3M	10x
Paradex CRCL-USD-PERP	+0.0098%	8h	95.729	+0.183%	$440	$477	5x	as long as short
Pacifica CRCL	+0.0100%	1h	95.570	+0.016%	$142K	$149K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	95.590	+0.038%	$2.5M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.440	−1.166%	$88K	$21K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	95.770	+0.226%	$755	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	95.823	+0.281%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0176%	8h	94.730	−0.862%	$2.6M	$3.2M	—	as long as short
Phoenix CRCL	+0.0197%	1h	94.470	−1.134%	$28K	$94K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0226%	8h	95.810	+0.268%	$23.4M	$66.1M	50x	as long as short
Extended CRCL_24_5-USD	+0.0264%	1h	95.549	−0.005%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0266%	8h	95.594	+0.042%	$110.7M	$387.4M	50x	as long as short
Aster CRCLUSDT	+0.0279%	8h	95.538	−0.016%	$1.2M	$4.7M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0289%	8h	94.746	−0.846%	$65K	$998K	10x	as long as short
Nado CRCL-PERP	+0.0295%	1h	95.769	+0.225%	$153K	$91K	3x	as long as short
BloFin CRCL-USDT	+0.0370%	8h	96.030	+0.498%	$1.2M	$1.8M	20x	as long as short
edgeX CRCLUSDC	+0.0388%	4h	94.237	−1.378%	$54K	$277K	10x	as long as short
Polymarket Perps CRCL-USD	+0.0512%	1h	95.627	+0.076%	$306K	$1.0M	10x	as long as short
Lighter CRCL	+0.0552%	1h	95.867	+0.328%	$3.3M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0691%	1h	95.780	+0.237%	$5K	$415K	10x	as long as short
SoDEX CRCL-USD	+0.6470%	1h	95.688	+0.140%	$48K	$3K	10x	as long as short