CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0031%/8h= +3.4% APRnext payment +$0.04 per $10,000 · paid last 24h −0.064%

Price spread now: QFEX against Arcus−0.142%7-day average +0.046% · 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−$54as in the Price arb table

costs, in and out, $10k−$350.347% of the position

Long on Arcus Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.091%−$9 on $10k

Price spread, last 4 days (all we have)+0.200%+$20 · spread now −0.142%, 7d avg +0.046%

Together, before fees+0.110%+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.188% cheaper against Arcus than usual: you would sell low and buy high (spread −0.142% now, against its 7-day average of +0.046%). If the spread goes back, that is −$19 on $10k: about 20 days of funding at the current rate (+$1 a day). Mind the row above: over the last 4 days funding on this pair cost −0.091%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus CRCL-USD	91.490	0.0040	pay 0.0005% / 1h	34m 32s	$97K	$292K	10x
Short	QFEX CRCL-USD	91.360	0.0071	get 0.0009% / 1h	34m 32s	$1.3M	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.142%Rate

Funding earned: $6.48
Price spread: −0.142% → +0.046%: −$18.78
Slippage, 4 orders: −$20.23
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$47.04
Costs to cover: 0.347%
Break-even: 57.8 days

Slippage from Arcus: live order book, 4 min ago; QFEX: 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, 4 min ago	1.64 bp	10.7 bp −$11	12.8 bp −$128	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	1.64 bp	6.6 bp −$7	7.4 bp −$74	15.4 bp −$1,543	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	−0.0247%	8h	91.510	+0.022%	$17.5M	$36.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0078%	1h	91.140	−0.383%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.420	−0.077%	$7.8M	$27.3M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.390	−0.109%	$1.0M	$48K	10x	as long as short
Bybit CRCLUSDT	+0.0025%	8h	91.380	−0.120%	$14.8M	$26.5M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.385	−0.115%	$981K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	91.519	+0.032%	$2K	$28K	5x	as long as short
Arcus CRCL-USDlong	+0.0040%	1h	91.490	long leg	$97K	$292K	10x
SoDEX CRCL-USD	+0.0050%	1h	91.380	−0.120%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.310	−0.197%	$1.1M	$4.8M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USDshort	+0.0071%	1h	91.360	−0.142%	$1.3M	$1.8M	10x
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.400	−0.098%	$890K	$403K	10x	as long as short
Variational Omni CRCL	+0.0097%	8h	91.457	−0.036%	$2.4M	$3.2M	—	as long as short
Pacifica CRCL	+0.0100%	1h	91.360	−0.142%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.360	−0.142%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.460	−0.033%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.340	−0.164%	$911	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.386	−0.114%	$4	—	10x	as long as short
tradeXYZ xyz:CRCL	+0.0116%	1h	91.313	−0.193%	$67.6M	$43.9M	10x	as long as short
edgeX CRCLUSDC	+0.0124%	4h	91.531	+0.045%	$52K	$275K	10x	as long as short
Polymarket Perps CRCL-USD	+0.0157%	1h	91.350	−0.153%	$379K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0163%	8h	91.338	−0.167%	$420	$905	5x	as long as short
Aster CRCLUSDT	+0.0167%	8h	91.403	−0.095%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0183%	8h	91.387	−0.112%	$105.0M	$389.7M	50x	as long as short
Extended CRCL_24_5-USD	+0.0184%	1h	91.363	−0.139%	$1.0M	$5.0M	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.689	+0.218%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0247%	8h	91.730	+0.262%	$61K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0258%	8h	91.430	−0.066%	$22.3M	$61.7M	50x	as long as short
Lighter CRCL	+0.0264%	1h	91.393	−0.106%	$2.9M	$2.4M	10x	as long as short
BloFin CRCL-USDT	+0.0302%	8h	91.370	−0.131%	$1.1M	$1.7M	20x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0407%	1h	91.350	−0.153%	$5K	$769K	10x	as long as short
Nado CRCL-PERP	+0.0425%	1h	91.365	−0.136%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.010	+0.568%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.391	−0.109%	$413K	$273K	10x	as long as short