Funding you earn now, next payment 11:00 UTC−0.0346%/8h= −37.9% APRpaid last 24h −0.054%
Price spread now: Lighter RH against Binance+0.031%7-day average +0.005% · you sell dearer than you buy
Net, funding: paid 7d − costs−$39as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$220.219% of the position
Funding, last 7 days−0.167%−$17 on $10k
+Price spread, last 7 days−0.041%−$4 · spread now +0.031%, 7d avg +0.005%
=Together, before fees−0.208%+ Points / potential airdropLighter RH: Points live · farm board−$21 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter RH is 0.026% dearer against Binance than usual: you sell high and buy low (spread +0.031% now, against its 7-day average of +0.005%): +$3 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 7 days (−0.167% in total) that is about 26 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.167% in total (about -8.7% a year). A funding rate is set anew for every payment. 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 | Binance CRCLUSDT | 92.920 | 0.0378 | pay 0.0378% / 8h | 5h 43m | $107.5M | $352.1M | 50x |
| Short | Lighter RH CRCL | 92.949 | 0.0032 | get 0.0004% / 1h | 43m 34s | $998K | $2.5M | 10x |
Binance CRCLUSDT
Lighter RH CRCLFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Binance. 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
- −$72.71
- Price spread: +0.031% → +0.005%
- $2.6
- Slippage, 4 orders
- −$11.9
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$92.01
- Costs to cover
- 0.219%
- Break-even
- never at this rate
Slippage from Binance: live order book, 8 min ago; Lighter RH: live order book, 3 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 Binance live order book, 8 min ago | 0.54 bp | 7.1 bp −$7 | 11.5 bp −$115 | 38.3 bp −$3,830 | 216.6 bp −$108.3K |
| Sell Lighter RH live order book, 3 min ago | 2.15 bp | 2.2 bp −$2 | 4.0 bp −$40 | 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 | −0.0048% | 1h | 92.950 | +0.032% | $869K | $748K | 10x | as long as short |
| Bybit CRCLUSDT | 0.0000% | 8h | 92.920 | 0.000% | $15.0M | $25.1M | 50x | as long as short |
| Bitget CRCLUSDT | 0.0000% | 8h | 92.960 | +0.043% | $18.6M | $33.4M | 25x | as long as short |
| Phemex CRCLUSDT | 0.0000% | 4h | 92.890 | −0.032% | $1.0M | $45K | 10x | as long as short |
| Vest CRCL-USD-PERP | 0.0000% | 1h | 92.850 | −0.075% | — | $30K | 25x | as long as short |
| Lighter RH CRCLshort | +0.0032% | 1h | 92.949 | +0.031% | $998K | $2.5M | 10x | |
| Aftermath Perps CRCLUSD | +0.0041% | 1h | 92.974 | +0.058% | $2K | $29K | 5x | as long as short |
| tradeXYZ xyz:CRCL | +0.0050% | 1h | 92.860 | −0.065% | $67.8M | $40.2M | 10x | as long as short |
| Polymarket Perps CRCL-USD | +0.0050% | 1h | 92.851 | −0.074% | $381K | $847K | 10x | as long as short |
| SoDEX CRCL-USD | +0.0050% | 1h | 92.907 | −0.014% | $47K | $3K | 10x | as long as short |
Coinbase International CRCL-PERP-INTX
Bybit CRCLUSDT
Bitget CRCLUSDT
Phemex CRCLUSDT
Vest CRCL-USD-PERP
Aftermath Perps CRCLUSD
tradeXYZ xyz:CRCL
Polymarket Perps CRCL-USD
SoDEX CRCL-USDShow all 34 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps CRCL-USD.P | +0.0050% | 1h | 92.810 | −0.118% | $1.0M | $3.8M | 10x | as long as short |
| QFEX CRCL-USD | +0.0055% | 1h | 92.880 | −0.043% | $1.3M | $1.6M | 10x | as long as short |
| Injective CRCL/USDC PERP | +0.0072% | 1h | 92.090 | −0.893% | $38K | $172K | 30x | as long as short |
| Deribit CRCL_USDC-PERPETUAL | +0.0073% | 1h | 92.930 | +0.011% | $5K | $415K | 10x | as long as short |
| Gate CRCL_USDT | +0.0079% | 8h | 92.990 | +0.075% | $7.5M | $25.3M | 50x | as long as short |
| Pacifica CRCL | +0.0100% | 1h | 92.900 | −0.022% | $139K | $139K | 10x | as long as short |
| KuCoin CRCLUSDTM | +0.0100% | 8h | 92.940 | +0.022% | $2.6M | $1.6M | 20x | as long as short |
| ApeX Omni CRCLUSDT | +0.0100% | 1h | 92.970 | +0.054% | $68K | $4K | 50x | as long as short |
| Orderly PERP_CRCL_USDC_mythos | +0.0100% | 8h | 92.980 | +0.065% | $927 | $1K | 10x | as long as short |
| Aevo CRCL-PERP | +0.0104% | 1h | 92.962 | +0.046% | $4 | — | 10x | as long as short |
| Paradex CRCL-USD-PERP | +0.0108% | 8h | 92.887 | −0.036% | $427 | $477 | 5x | as long as short |
| Phoenix CRCL | +0.0197% | 1h | 93.210 | +0.312% | $28K | $66K | 10x | as long as short |
| Arcus CRCL-USD | +0.0214% | 1h | 92.870 | −0.054% | $93K | $210K | 10x | as long as short |
| Nado CRCL-PERP | +0.0292% | 1h | 92.846 | −0.080% | $155K | $94K | 3x | as long as short |
| Variational Omni CRCL | +0.0306% | 8h | 93.001 | +0.087% | $2.5M | $3.3M | — | as long as short |
| OKX CRCL-USDT-SWAP | +0.0312% | 8h | 92.910 | −0.011% | $22.9M | $56.7M | 50x | as long as short |
| Lighter CRCL | +0.0320% | 1h | 92.979 | +0.063% | $3.0M | $2.1M | 10x | as long as short |
| Aster CRCLUSDT | +0.0375% | 8h | 92.968 | +0.051% | $1.1M | $4.4M | 20x | as long as short |
| Binance CRCLUSDTlong | +0.0378% | 8h | 92.920 | long leg | $107.5M | $352.1M | 50x | |
| Extended CRCL_24_5-USD | +0.0384% | 1h | 92.888 | −0.035% | $1.1M | $4.0M | 10x | as long as short |
| BloFin CRCL-USDT | +0.0512% | 8h | 92.930 | +0.011% | $1.1M | $1.7M | 20x | as long as short |
| RISEx CRCL/USDC | +0.0528% | 1h | 92.925 | +0.005% | $417K | $233K | 10x | as long as short |
| GRVT CRCL_USDT_Perp | +0.0773% | 8h | 93.081 | +0.173% | $61K | $1.0M | 10x | as long as short |
| edgeX CRCLUSDC | +0.0830% | 4h | 92.904 | −0.017% | $53K | $270K | 10x | as long as short |
Ondo Perps CRCL-USD.P
QFEX CRCL-USD
Injective CRCL/USDC PERP
Deribit CRCL_USDC-PERPETUAL
Gate CRCL_USDT
Pacifica CRCL
KuCoin CRCLUSDTM
ApeX Omni CRCLUSDT
Orderly PERP_CRCL_USDC_mythos
Aevo CRCL-PERP
Paradex CRCL-USD-PERP
Phoenix CRCL
Arcus CRCL-USD
Nado CRCL-PERP
Variational Omni CRCL
OKX CRCL-USDT-SWAP
Lighter CRCL
Aster CRCLUSDT
Extended CRCL_24_5-USD
BloFin CRCL-USDT
RISEx CRCL/USDC
GRVT CRCL_USDT_Perp
edgeX CRCLUSDC