CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h +0.009%

Price spread now: Variational Omni against Coinbase International+0.162%7-day average +0.046% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.110%−$11 on $10k

Price spread, last 4 days (all we have)−0.174%−$17 · spread now +0.162%, 7d avg +0.046%

Together, before fees−0.285%+ Points / potential airdropVariational Omni: Active · farm board−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.117% dearer against Coinbase International than usual: you sell high and buy low (spread +0.162% now, against its 7-day average of +0.046%): +$12 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8.1 days. At the pace of the last 4 days (−0.110% in total) that is about 3.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International CRCL-PERP-INTX	91.770	0.0048	pay 0.0006% / 1h	15m 25s	$911K	$519K	10x
Short	Variational Omni CRCL	91.919	0	get 0.0000% / 8h	3h 15m	$2.5M	$3.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Coinbase International. 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 Coinbase InternationalbpFee Variational OmnibpOrdersPrice spread, now +0.162%Rate

Funding earned: −$10.08
Price spread: +0.162% → +0.046%: $11.66
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$8.42
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Coinbase International: live order book, 38 min ago; Variational Omni: RFQ quote, 4 min ago. 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 Coinbase International live order book, 38 min ago	4.88 bp	9.9 bp −$10	14.7 bp −$147	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	3.46 bp	doesn't fit	9.9 bp −$99	doesn't fit	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	−0.0682%	8h	91.980	+0.229%	$16.7M	$35.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0061%	1h	91.690	−0.087%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.930	+0.174%	$14.9M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.000	+0.251%	$7.3M	$27.5M	50x	as long as short
Variational Omni CRCLshort	0.0000%	8h	91.919	+0.162%	$2.5M	$3.2M	—
Phemex CRCLUSDT	0.0000%	4h	91.930	+0.174%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0018%	8h	91.973	+0.221%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	91.910	+0.152%	$1.2M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0027%	8h	91.949	+0.195%	$104.8M	$392.5M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.969	+0.217%	$975K	$2.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0039%	1h	91.884	+0.124%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.870	+0.109%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTXlong	+0.0048%	1h	91.770	long leg	$911K	$519K	10x
tradeXYZ xyz:CRCL	+0.0050%	1h	91.882	+0.122%	$68.3M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.920	+0.163%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.918	+0.161%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.840	+0.076%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.920	+0.163%	$1.3M	$1.9M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0070%	8h	91.920	+0.164%	$423	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0092%	8h	91.970	+0.218%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0097%	8h	91.950	+0.196%	$22.3M	$61.9M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.933	+0.177%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.910	+0.153%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.850	+0.087%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.920	+0.163%	$916	$2K	10x	as long as short
BloFin CRCL-USDT	+0.0102%	8h	91.930	+0.174%	$1.1M	$1.6M	20x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.919	+0.162%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.944	+0.190%	$419K	$299K	10x	as long as short
Phoenix CRCL	+0.0182%	1h	91.884	+0.124%	$27K	$82K	10x	as long as short
edgeX CRCLUSDC	+0.0203%	4h	91.943	+0.189%	$51K	$277K	10x	as long as short
Lighter CRCL	+0.0264%	1h	91.961	+0.208%	$3.0M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0294%	1h	91.920	+0.163%	$4K	$768K	10x	as long as short
Nado CRCL-PERP	+0.0353%	1h	91.885	+0.125%	$134K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.643%	$5K	$19K	30x	as long as short