CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0587%/8h= +64.3% APRnext payment +$0.73 per $10,000 · paid last 24h +0.038%

Price spread now: Deribit against Arcus+0.033%7-day average +0.043% · 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−$41as in the Price arb table

costs, in and out, $10k−$400.405% of the position

Long on Arcus Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.108%+$11 on $10k

Price spread, last 4 days (all we have)+0.013%+$1 · spread now +0.033%, 7d avg +0.043%

Together, before fees+0.121%+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.043%, so right now this pair is about funding alone: +$18 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.108% in total (about 10.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.73 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus CRCL-USD	91.260	0.0040	pay 0.0005% / 1h	2m 14s	$95K	$296K	10x
Short	Deribit CRCL_USDC-PERPETUAL	91.290	0.0627	get 0.0078% / 1h	2m 14s	$5K	$769K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Arcus. 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 ArcusbpFee DeribitbpOrdersPrice spread, now +0.033%Rate

Funding earned: $123.23
Price spread: +0.033% → +0.043%: −$1.01
Slippage, 4 orders: −$28.95
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $81.77
Costs to cover: 0.405%
Break-even: 2.4 days

Slippage from Arcus: live order book, 36 min ago; Deribit: live order book, 37 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 Arcus live order book, 36 min ago	1.64 bp	10.7 bp −$11	12.8 bp −$128	doesn't fit	doesn't fit
Sell Deribit live order book, 37 min ago	6.00 bp	9.5 bp −$9	12.2 bp −$122	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
Bitget CRCLUSDT	−0.0335%	8h	91.360	+0.110%	$17.3M	$36.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0086%	1h	91.020	−0.263%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.320	+0.066%	$7.8M	$28.0M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.290	+0.033%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.305	+0.049%	$983K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	91.255	−0.006%	$2K	$29K	5x	as long as short
Arcus CRCL-USDlong	+0.0040%	1h	91.260	long leg	$95K	$296K	10x
SoDEX CRCL-USD	+0.0050%	1h	91.260	0.000%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.210	−0.055%	$1.1M	$4.8M	10x	as long as short
Bybit CRCLUSDT	+0.0066%	8h	91.290	+0.033%	$14.8M	$26.5M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.340	+0.088%	$1.3M	$1.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.070	−0.208%	$871K	$500K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0093%	1h	91.222	−0.042%	$67.3M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.333	+0.080%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.280	+0.022%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.170	−0.099%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.290	+0.033%	$910	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.296	+0.040%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0132%	8h	91.253	−0.008%	$2.4M	$3.3M	—	as long as short
Polymarket Perps CRCL-USD	+0.0156%	1h	91.304	+0.048%	$377K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0163%	8h	91.298	+0.041%	$420	$905	5x	as long as short
Aster CRCLUSDT	+0.0205%	8h	91.323	+0.069%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0221%	8h	91.290	+0.033%	$104.9M	$389.2M	50x	as long as short
Extended CRCL_24_5-USD	+0.0224%	1h	91.258	−0.002%	$1.0M	$5.0M	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.260	0.000%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0251%	8h	91.227	−0.036%	$70K	$1.1M	10x	as long as short
Lighter CRCL	+0.0264%	1h	91.286	+0.028%	$2.9M	$2.4M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0293%	8h	91.310	+0.055%	$22.3M	$61.7M	50x	as long as short
BloFin CRCL-USDT	+0.0337%	8h	91.330	+0.077%	$1.1M	$1.7M	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.750	+0.537%	$5K	$19K	30x	as long as short
Nado CRCL-PERP	+0.0442%	1h	91.222	−0.042%	$134K	$109K	3x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.330	+0.077%	$412K	$260K	10x	as long as short
Deribit CRCL_USDC-PERPETUALshort	+0.0627%	1h	91.290	+0.033%	$5K	$769K	10x
edgeX CRCLUSDC	+0.0907%	4h	91.195	−0.071%	$52K	$270K	10x	as long as short