CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0106%/8h= +11.7% APRnext payment +$0.13 per $10,000 · paid last 24h −0.018%

Price spread now: QFEX against Coinbase International+0.212%7-day average +0.032% · 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−$29as in the Price arb table

costs, in and out, $10k−$470.475% of the position

Long on Coinbase International Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.105%−$11 on $10k

Price spread, last 3 days (all we have)−0.167%−$17 · spread now +0.212%, 7d avg +0.032%

Together, before fees−0.272%−$27 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and QFEX is 0.180% dearer against Coinbase International than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.032%. Mind the row above: over the last 3 days funding on this pair cost −0.105%, 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	Coinbase International CRCL-PERP-INTX	94.210	−0.0064	get 0.0008% / 1h	23m 35s	$942K	$622K	10x
Short	QFEX CRCL-USD	94.410	0.0042	get 0.0005% / 1h	23m 35s	$1.4M	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Coinbase International. 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 Coinbase InternationalbpFee QFEXbpOrdersPrice spread, now +0.212%Rate

Funding earned: $22.36
Price spread: +0.212% → +0.032%: $18.02
Slippage, 4 orders: −$27.48
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$7.09
Costs to cover: 0.475%
Break-even: 9.2 days

Slippage from Coinbase International: live order book, 50 min ago; QFEX: live order book, 4 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 Coinbase International live order book, 50 min ago	5.29 bp	10.3 bp −$10	13.8 bp −$138	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	2.65 bp	7.6 bp −$8	7.7 bp −$77	15.5 bp −$1,553	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-INTXlong	−0.0064%	1h	94.210	long leg	$942K	$622K	10x
Bybit CRCLUSDT	0.0000%	8h	94.460	+0.265%	$15.5M	$25.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.460	+0.265%	$7.3M	$27.0M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.500	+0.308%	$67K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.450	+0.255%	$1.0M	$49K	10x	as long as short
Bitget CRCLUSDT	+0.0029%	8h	94.440	+0.244%	$17.0M	$34.6M	25x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.455	+0.260%	$889K	$2.8M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	94.378	+0.178%	$2K	$22K	5x	as long as short
QFEX CRCL-USDshort	+0.0042%	1h	94.410	+0.212%	$1.4M	$2.6M	10x
Vest CRCL-USD-PERP	+0.0046%	1h	94.380	+0.180%	—	$37K	25x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CRCL	+0.0050%	1h	94.383	+0.184%	$71.8M	$42.0M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.453	+0.258%	$366K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.417	+0.220%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.390	+0.191%	$1.0M	$5.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.380	+0.180%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.470	+0.276%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.410	+0.212%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.450	+0.255%	$942	$3K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0104%	8h	94.450	+0.254%	$774	$740	5x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.449	+0.254%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0117%	8h	94.489	+0.297%	$2.5M	$3.1M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0149%	8h	94.430	+0.234%	$22.8M	$59.4M	50x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0174%	1h	94.420	+0.223%	$4K	$769K	10x	as long as short
Extended CRCL_24_5-USD	+0.0184%	1h	94.410	+0.213%	$1.1M	$5.9M	10x	as long as short
Binance CRCLUSDT	+0.0185%	8h	94.447	+0.252%	$109.4M	$385.9M	50x	as long as short
Aster CRCLUSDT	+0.0192%	8h	94.438	+0.242%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0231%	1h	94.471	+0.277%	$132K	$76K	3x	as long as short
Lighter CRCL	+0.0288%	1h	94.477	+0.283%	$3.1M	$2.2M	10x	as long as short
Phoenix CRCL	+0.0296%	1h	94.424	+0.227%	$28K	$92K	10x	as long as short
BloFin CRCL-USDT	+0.0308%	8h	94.500	+0.308%	$1.1M	$561K	20x	as long as short
edgeX CRCLUSDC	+0.0385%	4h	94.442	+0.246%	$24K	$267K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.890	+0.722%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.430	+0.234%	$97K	$271K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	94.450	+0.255%	$431K	$299K	10x	as long as short