CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0246%/8h= +27.0% APRnext payment +$0.31 per $10,000 · paid last 24h −0.042%

Price spread now: Nado against Deribit+0.047%46s7-day average −0.010% · 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—prices read too far apart to compare

costs, in and out, $10k−$480.477% of the position

Long on Deribit Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.056%−$6 on $10k

Price spread, last 4 days (all we have)−0.002%$0 · spread now +0.047%, 7d avg −0.010%

Together, before fees−0.058%+ Points / potential airdropNado: Active · farm board−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Nado is 0.057% dearer against Deribit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.010%. Mind the row above: over the last 4 days funding on this pair cost −0.056%, so the current rate has only just turned in your favour. The two prices were read 46 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 4 days it paid -0.056% in total (about -5.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.31 per $10,000. 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	Deribit CRCL_USDC-PERPETUAL	92.910	0.0073	pay 0.0009% / 1h	4m 35s	$5K	$454K	10x
Short	Nado CRCL-PERP	92.954	0.0319	get 0.0040% / 1h	4m 35s	$152K	$107K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Deribit. 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 DeribitbpFee NadobpOrdersPrice spread, now +0.047%Rate

Funding earned: $51.72
Price spread: +0.047% → −0.010%: $5.7
Slippage, 4 orders: −$33.72
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $9.69
Costs to cover: 0.477%
Break-even: 5.7 days

Slippage from Deribit: live order book, 47 min ago; Nado: live order book, 46 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 Deribit live order book, 47 min ago	7.06 bp	10.6 bp −$11	13.5 bp −$135	doesn't fit	doesn't fit
Sell Nado live order book, 46 min ago	3.80 bp	10.0 bp −$10	27.1 bp −$271	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
Vest CRCL-USD-PERP	−0.0021%	1h	92.800	−0.118%	—	$30K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.990	+0.086%	$15.1M	$25.1M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	93.040	+0.140%	$18.2M	$33.7M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.850	−0.065%	$1.0M	$45K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0008%	1h	92.890	−0.022%	$860K	$702K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	93.004	+0.101%	$1.0M	$2.5M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	92.639	−0.292%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.925	+0.016%	$67.9M	$40.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.968	+0.062%	$382K	$847K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.865	−0.048%	$47K	$3K	10x	as long as short

Show 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	92.910	0.000%	$1.1M	$3.8M	10x	as long as short
Deribit CRCL_USDC-PERPETUALlong	+0.0073%	1h	92.910	long leg	$5K	$454K	10x
QFEX CRCL-USD	+0.0080%	1h	92.950	+0.043%	$1.3M	$1.6M	10x	as long as short
Gate CRCL_USDT	+0.0096%	8h	93.070	+0.172%	$7.4M	$26.0M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	92.960	+0.054%	$139K	$141K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.940	+0.032%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.550	−0.387%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.950	+0.043%	$927	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.950	+0.043%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0135%	8h	92.988	+0.084%	$428	$477	5x	as long as short
Phoenix CRCL	+0.0199%	1h	92.671	−0.257%	$27K	$66K	10x	as long as short
Lighter CRCL	+0.0264%	1h	93.055	+0.156%	$3.0M	$2.1M	10x	as long as short
Variational Omni CRCL	+0.0303%	8h	92.823	−0.093%	$2.5M	$3.3M	—	as long as short
Nado CRCL-PERPshort	+0.0319%	1h	92.954	+0.047%	$152K	$107K	3x
OKX CRCL-USDT-SWAP	+0.0339%	8h	93.000	+0.097%	$22.9M	$57.2M	50x	as long as short
Arcus CRCL-USD	+0.0368%	1h	92.960	+0.054%	$94K	$226K	10x	as long as short
Aster CRCLUSDT	+0.0382%	8h	92.936	+0.028%	$1.1M	$4.5M	20x	as long as short
Extended CRCL_24_5-USD	+0.0384%	1h	92.944	+0.037%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0390%	8h	92.964	+0.058%	$107.6M	$355.6M	50x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.090	−0.883%	$38K	$172K	30x	as long as short
RISEx CRCL/USDC	+0.0479%	1h	93.005	+0.102%	$417K	$243K	10x	as long as short
BloFin CRCL-USDT	+0.0505%	8h	92.950	+0.043%	$1.1M	$1.7M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0795%	8h	92.663	−0.266%	$62K	$1.0M	10x	as long as short
edgeX CRCLUSDC	+0.0977%	4h	92.636	−0.295%	$53K	$269K	10x	as long as short