Funding you earn now, next payment 01:00 UTC−0.0489%/8h= −53.5% APRnext payment −$0.61 per $10,000 · paid last 24h −0.062%
Price spread now: Lighter RH against Arcus−0.016%7-day average +0.085% · 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−$33as in the Price arb table
costs, in and out, $10k−$230.226% of the position
Funding, last 3 days (all we have)−0.062%−$6 on $10k
+Price spread, last 4 days (all we have)+0.269%+$27 · spread now −0.016%, 7d avg +0.085%
=Together, before fees+0.207%+ Points / potential airdropLighter RH: Points live · farm board+$21 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Lighter RH is 0.101% cheaper against Arcus than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.085%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.062% in total (about -6.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.61 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 | 94.210 | 0.0521 | pay 0.0065% / 1h | 46m 05s | $96K | $276K | 10x |
| Short | Lighter RH CRCL | 94.195 | 0.0032 | get 0.0004% / 1h | 46m 05s | $889K | $2.8M | 10x |
Arcus CRCL-USD
Lighter RH CRCLFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Arcus. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$102.6
- Price spread: −0.016% → +0.085%
- −$10.13
- Slippage, 4 orders
- −$18.06
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$135.28
- Costs to cover
- 0.226%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 27 min ago; Lighter RH: live order book, 2 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, 27 min ago | 2.12 bp | 8.1 bp −$8 | 8.5 bp −$85 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 2 min ago | 3.08 bp | 3.5 bp −$3 | 6.3 bp −$63 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International CRCL-PERP-INTX | −0.0064% | 1h | 94.100 | −0.117% | $941K | $724K | 10x | as long as short |
| Bybit CRCLUSDT | 0.0000% | 8h | 94.240 | +0.032% | $15.5M | $25.9M | 50x | as long as short |
| Gate CRCL_USDT | 0.0000% | 8h | 94.260 | +0.053% | $7.2M | $26.9M | 50x | as long as short |
| GRVT CRCL_USDT_Perp | 0.0000% | 8h | 94.241 | +0.033% | $64K | $1.1M | 10x | as long as short |
| Phemex CRCLUSDT | 0.0000% | 4h | 94.250 | +0.042% | $1.0M | $52K | 10x | as long as short |
| Lighter RH CRCLshort | +0.0032% | 1h | 94.195 | −0.016% | $889K | $2.8M | 10x | |
| tradeXYZ xyz:CRCL | +0.0042% | 1h | 94.123 | −0.092% | $71.6M | $42.3M | 10x | as long as short |
| QFEX CRCL-USD | +0.0042% | 1h | 94.250 | +0.042% | $1.4M | $2.7M | 10x | as long as short |
| Vest CRCL-USD-PERP | +0.0046% | 1h | 94.090 | −0.127% | — | $45K | 25x | as long as short |
| Aftermath Perps CRCLUSD | +0.0046% | 1h | 94.218 | +0.009% | $2K | $21K | 5x | as long as short |
Coinbase International CRCL-PERP-INTX
Bybit CRCLUSDT
Gate CRCL_USDT
GRVT CRCL_USDT_Perp
Phemex CRCLUSDT
tradeXYZ xyz:CRCL
QFEX CRCL-USD
Vest CRCL-USD-PERP
Aftermath Perps CRCLUSDShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps CRCL-USD | +0.0050% | 1h | 94.178 | −0.034% | $365K | $1.1M | 10x | as long as short |
| SoDEX CRCL-USD | +0.0050% | 1h | 94.196 | −0.015% | $47K | $3K | 10x | as long as short |
| Ondo Perps CRCL-USD.P | +0.0050% | 1h | 94.130 | −0.085% | $1.1M | $5.8M | 10x | as long as short |
| Pacifica CRCL | +0.0100% | 1h | 94.255 | +0.047% | $75K | $99K | 10x | as long as short |
| KuCoin CRCLUSDTM | +0.0100% | 8h | 94.270 | +0.064% | $3.0M | $1.9M | 20x | as long as short |
| ApeX Omni CRCLUSDT | +0.0100% | 1h | 94.160 | −0.053% | $69K | $4K | 50x | as long as short |
| Orderly PERP_CRCL_USDC_mythos | +0.0100% | 8h | 94.240 | +0.032% | $940 | $3K | 10x | as long as short |
| Aevo CRCL-PERP | +0.0104% | 1h | 94.207 | −0.004% | $4 | — | 10x | as long as short |
| Paradex CRCL-USD-PERP | +0.0110% | 8h | 94.277 | +0.071% | $773 | $740 | 5x | as long as short |
| OKX CRCL-USDT-SWAP | +0.0157% | 8h | 94.240 | +0.032% | $22.8M | $60.3M | 50x | as long as short |
| Bitget CRCLUSDT | +0.0158% | 8h | 94.270 | +0.064% | $16.9M | $35.1M | 25x | as long as short |
| Variational Omni CRCL | +0.0162% | 8h | 94.220 | +0.011% | $2.5M | $3.1M | — | as long as short |
| edgeX CRCLUSDC | +0.0200% | 4h | 94.169 | −0.043% | $24K | $268K | 10x | as long as short |
| Nado CRCL-PERP | +0.0216% | 1h | 94.199 | −0.011% | $132K | $76K | 3x | as long as short |
| Binance CRCLUSDT | +0.0224% | 8h | 94.220 | +0.011% | $109.2M | $389.2M | 50x | as long as short |
| Extended CRCL_24_5-USD | +0.0224% | 1h | 94.213 | +0.003% | $1.1M | $4.3M | 10x | as long as short |
| Aster CRCLUSDT | +0.0226% | 8h | 94.226 | +0.017% | $1.1M | $4.9M | 20x | as long as short |
| Lighter CRCL | +0.0280% | 1h | 94.209 | −0.001% | $3.0M | $2.2M | 10x | as long as short |
| Phoenix CRCL | +0.0296% | 1h | 94.131 | −0.084% | $28K | $92K | 10x | as long as short |
| BloFin CRCL-USDT | +0.0346% | 8h | 94.250 | +0.042% | $1.1M | $561K | 20x | as long as short |
| Injective CRCL/USDC PERP | +0.0440% | 1h | 94.650 | +0.467% | $5K | $19K | 30x | as long as short |
| Arcus CRCL-USDlong | +0.0521% | 1h | 94.210 | long leg | $96K | $276K | 10x | |
| Deribit CRCL_USDC-PERPETUAL | +0.0600% | 1h | 94.180 | −0.032% | $4K | $772K | 10x | as long as short |
| RISEx CRCL/USDC | +0.0677% | 1h | 94.279 | +0.073% | $430K | $303K | 10x | as long as short |
Polymarket Perps CRCL-USD
SoDEX CRCL-USD
Ondo Perps CRCL-USD.P
Pacifica CRCL
KuCoin CRCLUSDTM
ApeX Omni CRCLUSDT
Orderly PERP_CRCL_USDC_mythos
Aevo CRCL-PERP
Paradex CRCL-USD-PERP
OKX CRCL-USDT-SWAP
Bitget CRCLUSDT
Variational Omni CRCL
edgeX CRCLUSDC
Nado CRCL-PERP
Binance CRCLUSDT
Extended CRCL_24_5-USD
Aster CRCLUSDT
Lighter CRCL
Phoenix CRCL
BloFin CRCL-USDT
Injective CRCL/USDC PERP
Deribit CRCL_USDC-PERPETUAL
RISEx CRCL/USDC