Funding you earn now, next payment 01:00 UTC+0.1053%/8h= +115.3% APRpaid last 24h +0.003%
Price spread now: Phoenix against Bitget−0.196%49s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.086%−$9 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Funding pays, the price is against you. Phoenix is 0.196% cheaper against Bitget than usual: you would sell low and buy high (spread −0.196% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$20 on $10k: about 15 hours of funding at the current rate (+$32 a day). Mind the row above: over the last 7 days funding on this pair cost −0.086%, so the current rate has only just turned in your favour. The two prices were read 49 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 7 days it paid -0.086% in total (about -4.5% a year). A funding rate is set anew for every payment. 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 | Bitget CRCLUSDT | 92.030 | −0.0822 | get 0.0822% / 8h | 6h 16m | $16.0M | $35.6M | 25x |
| Short | Phoenix CRCL | 91.850 | 0.0231 | get 0.0029% / 1h | 16m 31s | $27K | $92K | 10x |
Bitget CRCLUSDT
Phoenix CRCLFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bitget. 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
- $221.12
- Price spread: −0.196% → 0.000%
- −$19.56
- Slippage, 4 orders
- no order book: not counted
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $182.56
- Costs to cover
- 0.190%
- Break-even
- 1.2 days
Slippage unknown: Bitget: live order book, 2 min ago; Phoenix: no order-book sample. Net counts fees only.
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 Bitget live order book, 2 min ago | 1.63 bp | 8.7 bp −$9 | 9.5 bp −$95 | 28.8 bp −$2,883 | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
CRCL on 33 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 CRCLUSDTlong | −0.0822% | 8h | 92.030 | long leg | $16.0M | $35.6M | 25x | |
| Vest CRCL-USD-PERP | −0.0039% | 1h | 91.670 | −0.391% | — | $40K | 25x | as long as short |
| Coinbase International CRCL-PERP-INTX | −0.0008% | 1h | 91.700 | −0.359% | $913K | $580K | 10x | as long as short |
| Gate CRCL_USDT | −0.0004% | 8h | 92.020 | −0.011% | $7.1M | $26.8M | 50x | as long as short |
| Bybit CRCLUSDT | 0.0000% | 8h | 92.010 | −0.022% | $15.0M | $25.9M | 50x | as long as short |
| RISEx CRCL/USDC | 0.0000% | 1h | 91.950 | −0.087% | $420K | $299K | 10x | as long as short |
| Variational Omni CRCL | 0.0000% | 8h | 91.938 | −0.100% | $2.4M | $3.2M | — | as long as short |
| GRVT CRCL_USDT_Perp | 0.0000% | 8h | 91.730 | −0.326% | $69K | $1.1M | 10x | as long as short |
| Phemex CRCLUSDT | 0.0000% | 4h | 91.980 | −0.054% | $1.0M | $49K | 10x | as long as short |
| Aftermath Perps CRCLUSD | +0.0024% | 1h | 91.872 | −0.172% | $2K | $23K | 5x | as long as short |
Vest CRCL-USD-PERP
Coinbase International CRCL-PERP-INTX
Gate CRCL_USDT
Bybit CRCLUSDT
RISEx CRCL/USDC
Variational Omni CRCL
GRVT CRCL_USDT_Perp
Phemex CRCLUSDT
Aftermath Perps CRCLUSDShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH CRCL | +0.0032% | 1h | 92.001 | −0.032% | $974K | $2.9M | 10x | as long as short |
| Arcus CRCL-USD | +0.0040% | 1h | 91.860 | −0.185% | $93K | $273K | 10x | as long as short |
| Extended CRCL_24_5-USD | +0.0048% | 1h | 91.926 | −0.113% | $1.1M | $5.7M | 10x | as long as short |
| Binance CRCLUSDT | +0.0050% | 8h | 91.960 | −0.076% | $104.9M | $394.2M | 50x | as long as short |
| tradeXYZ xyz:CRCL | +0.0050% | 1h | 91.944 | −0.093% | $69.1M | $42.1M | 10x | as long as short |
| Polymarket Perps CRCL-USD | +0.0050% | 1h | 91.862 | −0.183% | $355K | $1.1M | 10x | as long as short |
| SoDEX CRCL-USD | +0.0050% | 1h | 91.895 | −0.147% | $46K | $3K | 10x | as long as short |
| Ondo Perps CRCL-USD.P | +0.0050% | 1h | 91.730 | −0.326% | $999K | $5.5M | 10x | as long as short |
| QFEX CRCL-USD | +0.0057% | 1h | 91.950 | −0.087% | $1.3M | $2.3M | 10x | as long as short |
| OKX CRCL-USDT-SWAP | +0.0057% | 8h | 92.010 | −0.022% | $21.7M | $60.4M | 50x | as long as short |
| Aster CRCLUSDT | +0.0059% | 8h | 91.980 | −0.055% | $1.1M | $4.9M | 20x | as long as short |
| Paradex CRCL-USD-PERP | +0.0073% | 8h | 91.981 | −0.054% | $754 | $740 | 5x | as long as short |
| Pacifica CRCL | +0.0100% | 1h | 91.992 | −0.041% | $133K | $158K | 10x | as long as short |
| KuCoin CRCLUSDTM | +0.0100% | 8h | 91.990 | −0.043% | $2.9M | $1.9M | 20x | as long as short |
| ApeX Omni CRCLUSDT | +0.0100% | 1h | 91.720 | −0.337% | $67K | $4K | 50x | as long as short |
| Orderly PERP_CRCL_USDC_mythos | +0.0100% | 8h | 91.900 | −0.141% | $916 | $3K | 10x | as long as short |
| Aevo CRCL-PERP | +0.0104% | 1h | 91.923 | −0.116% | $4 | — | 10x | as long as short |
| Nado CRCL-PERP | +0.0153% | 1h | 91.894 | −0.147% | $131K | $103K | 3x | as long as short |
| Deribit CRCL_USDC-PERPETUAL | +0.0185% | 1h | 91.930 | −0.109% | $4K | $769K | 10x | as long as short |
| Lighter CRCL | +0.0200% | 1h | 91.984 | −0.050% | $3.0M | $2.4M | 10x | as long as short |
| Phoenix CRCLshort | +0.0231% | 1h | 91.850 | −0.196% | $27K | $92K | 10x | |
| Injective CRCL/USDC PERP | +0.0440% | 1h | 92.500 | +0.511% | $5K | $19K | 30x | as long as short |
| edgeX CRCLUSDC | +0.0678% | 4h | 91.707 | −0.351% | $23K | $268K | 10x | as long as short |
Lighter RH CRCL
Arcus CRCL-USD
Extended CRCL_24_5-USD
Binance CRCLUSDT
tradeXYZ xyz:CRCL
Polymarket Perps CRCL-USD
SoDEX CRCL-USD
Ondo Perps CRCL-USD.P
QFEX CRCL-USD
OKX CRCL-USDT-SWAP
Aster CRCLUSDT
Paradex CRCL-USD-PERP
Pacifica CRCL
KuCoin CRCLUSDTM
ApeX Omni CRCLUSDT
Orderly PERP_CRCL_USDC_mythos
Aevo CRCL-PERP
Nado CRCL-PERP
Deribit CRCL_USDC-PERPETUAL
Lighter CRCL
Injective CRCL/USDC PERP
edgeX CRCLUSDC