Funding you earn now, next payment 05:00 UTC−0.1008%/8h= −110.3% APRnext payment −$1.26 per $10,000 · paid last 24h −0.092%
Price spread now: Ondo Perps against Deribit−0.207%7-day average −0.095% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)−0.126%−$13 on $10k
+Price spread, last 4 days (all we have)+0.199%+$20 · spread now −0.207%, 7d avg −0.095%
=Together, before fees+0.074%+ Points / potential airdropOndo Perps: Active · farm board+$7 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$30 a day on $10k at the current rate, and Ondo Perps is 0.111% cheaper against Deribit than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.095%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.126% in total (about -9.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.26 per $10,000. 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 | Deribit CRCL_USDC-PERPETUAL | 91.870 | 0.1058 | pay 0.0132% / 1h | 40m 20s | $4K | $768K | 10x |
| Short | Ondo Perps CRCL-USD.P | 91.680 | 0.0050 | get 0.0006% / 1h | 40m 20s | $1.0M | $5.1M | 10x |
Deribit CRCL_USDC-PERPETUAL
Ondo Perps CRCL-USD.PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Ondo Perps against Deribit. 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
- −$211.58
- Price spread: −0.207% → −0.095%
- −$11.14
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Net
- −$234.72
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Deribit: live order book, 14 min ago; Ondo Perps: 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 Deribit live order book, 14 min ago | 0.54 bp | 7.3 bp −$7 | 10.3 bp −$103 | doesn't fit | doesn't fit |
| Sell Ondo Perps no order-book sample | — | — | — | — | — |
Ondo Perps: 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 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 | −0.0707% | 8h | 91.940 | +0.076% | $16.8M | $35.5M | 25x | as long as short |
| Vest CRCL-USD-PERP | −0.0067% | 1h | 91.610 | −0.283% | — | $31K | 25x | as long as short |
| Bybit CRCLUSDT | 0.0000% | 8h | 91.870 | 0.000% | $14.9M | $26.5M | 50x | as long as short |
| Gate CRCL_USDT | 0.0000% | 8h | 91.960 | +0.098% | $7.3M | $27.3M | 50x | as long as short |
| Variational Omni CRCL | 0.0000% | 8h | 91.849 | −0.023% | $2.4M | $3.2M | — | as long as short |
| Phemex CRCLUSDT | 0.0000% | 4h | 91.820 | −0.054% | $1.0M | $48K | 10x | as long as short |
| Aster CRCLUSDT | +0.0005% | 8h | 91.828 | −0.046% | $1.1M | $5.0M | 20x | as long as short |
| Binance CRCLUSDT | +0.0013% | 8h | 91.880 | +0.011% | $104.7M | $391.3M | 50x | as long as short |
| Extended CRCL_24_5-USD | +0.0016% | 1h | 91.854 | −0.018% | $1.2M | $5.7M | 10x | as long as short |
| Lighter RH CRCL | +0.0032% | 1h | 91.837 | −0.036% | $973K | $2.9M | 10x | as long as short |
Bitget CRCLUSDT
Vest CRCL-USD-PERP
Bybit CRCLUSDT
Gate CRCL_USDT
Variational Omni CRCL
Phemex CRCLUSDT
Aster CRCLUSDT
Binance CRCLUSDT
Extended CRCL_24_5-USD
Lighter RH CRCLShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps CRCLUSD | +0.0039% | 1h | 91.861 | −0.010% | $2K | $25K | 5x | as long as short |
| Arcus CRCL-USD | +0.0040% | 1h | 91.850 | −0.022% | $93K | $272K | 10x | as long as short |
| Coinbase International CRCL-PERP-INTX | +0.0048% | 1h | 91.890 | +0.022% | $907K | $510K | 10x | as long as short |
| BloFin CRCL-USDT | +0.0049% | 8h | 91.810 | −0.065% | $1.1M | $1.6M | 20x | as long as short |
| tradeXYZ xyz:CRCL | +0.0050% | 1h | 91.782 | −0.096% | $68.2M | $41.8M | 10x | as long as short |
| Polymarket Perps CRCL-USD | +0.0050% | 1h | 91.840 | −0.033% | $358K | $1.1M | 10x | as long as short |
| SoDEX CRCL-USD | +0.0050% | 1h | 91.833 | −0.040% | $46K | $3K | 10x | as long as short |
| Ondo Perps CRCL-USD.Pshort | +0.0050% | 1h | 91.680 | −0.207% | $1.0M | $5.1M | 10x | |
| QFEX CRCL-USD | +0.0060% | 1h | 91.860 | −0.011% | $1.3M | $1.9M | 10x | as long as short |
| GRVT CRCL_USDT_Perp | +0.0072% | 8h | 91.949 | +0.086% | $70K | $1.1M | 10x | as long as short |
| OKX CRCL-USDT-SWAP | +0.0077% | 8h | 91.910 | +0.044% | $22.3M | $61.6M | 50x | as long as short |
| Pacifica CRCL | +0.0100% | 1h | 91.886 | +0.017% | $134K | $159K | 10x | as long as short |
| KuCoin CRCLUSDTM | +0.0100% | 8h | 91.810 | −0.065% | $2.7M | $1.9M | 20x | as long as short |
| ApeX Omni CRCLUSDT | +0.0100% | 1h | 91.920 | +0.054% | $68K | $4K | 50x | as long as short |
| Orderly PERP_CRCL_USDC_mythos | +0.0100% | 8h | 91.790 | −0.087% | $915 | $2K | 10x | as long as short |
| Aevo CRCL-PERP | +0.0104% | 1h | 91.845 | −0.027% | $4 | — | 10x | as long as short |
| RISEx CRCL/USDC | +0.0107% | 1h | 91.878 | +0.009% | $418K | $299K | 10x | as long as short |
| Paradex CRCL-USD-PERP | +0.0129% | 8h | 91.815 | −0.060% | $422 | $905 | 5x | as long as short |
| Phoenix CRCL | +0.0182% | 1h | 91.905 | +0.038% | $27K | $82K | 10x | as long as short |
| Lighter CRCL | +0.0312% | 1h | 91.864 | −0.007% | $3.0M | $2.4M | 10x | as long as short |
| Nado CRCL-PERP | +0.0367% | 1h | 91.746 | −0.135% | $134K | $106K | 3x | as long as short |
| Injective CRCL/USDC PERP | +0.0440% | 1h | 92.360 | +0.533% | $5K | $19K | 30x | as long as short |
| edgeX CRCLUSDC | +0.0501% | 4h | 91.963 | +0.102% | $51K | $275K | 10x | as long as short |
| Deribit CRCL_USDC-PERPETUALlong | +0.1058% | 1h | 91.870 | long leg | $4K | $768K | 10x |
Aftermath Perps CRCLUSD
Arcus CRCL-USD
Coinbase International CRCL-PERP-INTX
BloFin CRCL-USDT
tradeXYZ xyz:CRCL
Polymarket Perps CRCL-USD
SoDEX CRCL-USD
QFEX CRCL-USD
GRVT CRCL_USDT_Perp
OKX CRCL-USDT-SWAP
Pacifica CRCL
KuCoin CRCLUSDTM
ApeX Omni CRCLUSDT
Orderly PERP_CRCL_USDC_mythos
Aevo CRCL-PERP
RISEx CRCL/USDC
Paradex CRCL-USD-PERP
Phoenix CRCL
Lighter CRCL
Nado CRCL-PERP
Injective CRCL/USDC PERP
edgeX CRCLUSDC