CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0238%/8h= +26.1% APRnext payment +$0.30 per $10,000 · paid last 24h +0.005%

Price spread now: Nado against Arcus+0.166%52s7-day average +0.033% · 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—prices read too far apart to compare

costs, in and out, $10k−$300.298% of the position

Long on Arcus Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.062%+$6 on $10k

Price spread, last 4 days (all we have)−0.050%−$5 · spread now +0.166%, 7d avg +0.033%

Together, before fees+0.011%+ Points / potential airdropNado: Active · farm board+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Nado is 0.133% dearer against Arcus than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.033%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.062% in total (about 6.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.30 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus CRCL-USD	95.610	0.0057	pay 0.0007% / 1h	55m 34s	$96K	$231K	10x
Short	Nado CRCL-PERP	95.769	0.0295	get 0.0037% / 1h	55m 34s	$153K	$91K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Arcus. 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 ArcusbpFee NadobpOrdersPrice spread, now +0.166%Rate

Funding earned: $50.06
Price spread: +0.166% → +0.033%: $13.31
Slippage, 4 orders: −$18.29
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $33.58
Costs to cover: 0.298%
Break-even: 2.3 days

Slippage from Arcus: live order book, 51 min ago; Nado: live order book, 50 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, 51 min ago	2.15 bp	7.1 bp −$7	8.9 bp −$89	doesn't fit	doesn't fit
Sell Nado live order book, 50 min ago	2.15 bp	9.0 bp −$9	28.6 bp −$286	doesn't fit	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	+0.094%	$873K	$807K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	95.720	+0.115%	$15.7M	$28.4M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	95.656	+0.048%	$425K	$228K	10x	as long as short
Bitget CRCLUSDT	0.0000%	8h	95.680	+0.073%	$18.9M	$38.2M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	95.760	+0.157%	$1.1M	$47K	10x	as long as short
QFEX CRCL-USD	+0.0014%	1h	95.600	−0.010%	$1.4M	$1.7M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	95.799	+0.198%	$1.0M	$2.6M	10x	as long as short
Injective CRCL/USDC PERP	+0.0033%	1h	95.630	+0.021%	$39K	$172K	30x	as long as short
Vest CRCL-USD-PERP	+0.0034%	1h	95.610	0.000%	—	$30K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0034%	1h	94.479	−1.183%	$2K	$29K	5x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CRCL_USDT	+0.0048%	8h	95.660	+0.052%	$7.8M	$25.8M	50x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	95.580	−0.031%	$1.0M	$4.3M	10x	as long as short
Arcus CRCL-USDlong	+0.0057%	1h	95.610	long leg	$96K	$231K	10x
tradeXYZ xyz:CRCL	+0.0090%	1h	95.640	+0.031%	$69.6M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	95.598	−0.013%	$142K	$149K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	95.630	+0.021%	$2.5M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	95.830	+0.230%	$99K	$26K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	95.770	+0.167%	$755	$2K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0100%	8h	95.645	+0.036%	$440	$477	5x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	95.823	+0.222%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0169%	8h	95.760	+0.156%	$2.7M	$3.3M	—	as long as short
Phoenix CRCL	+0.0197%	1h	94.470	−1.192%	$28K	$94K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0223%	8h	95.700	+0.094%	$23.4M	$65.9M	50x	as long as short
Extended CRCL_24_5-USD	+0.0264%	1h	95.616	+0.006%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0267%	8h	95.672	+0.065%	$110.8M	$387.6M	50x	as long as short
Aster CRCLUSDT	+0.0285%	8h	95.720	+0.115%	$1.2M	$4.7M	20x	as long as short
Nado CRCL-PERPshort	+0.0295%	1h	95.769	+0.166%	$153K	$91K	3x
GRVT CRCL_USDT_Perp	+0.0328%	8h	96.099	+0.512%	$62K	$1.0M	10x	as long as short
BloFin CRCL-USDT	+0.0370%	8h	96.030	+0.439%	$1.2M	$1.8M	20x	as long as short
Polymarket Perps CRCL-USD	+0.0512%	1h	95.627	+0.018%	$306K	$1.0M	10x	as long as short
edgeX CRCLUSDC	+0.0551%	4h	95.621	+0.011%	$55K	$277K	10x	as long as short
Lighter CRCL	+0.0552%	1h	95.734	+0.130%	$3.3M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0691%	1h	95.780	+0.178%	$5K	$415K	10x	as long as short
SoDEX CRCL-USD	+0.6470%	1h	95.688	+0.082%	$48K	$3K	10x	as long as short