CRCL

Alert

Funding spread now, next payment 18:00 UTC−0.0395%/8h

paid, last 24h−0.039%paid, last 4 days−0.040%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 4 days it paid -0.040% in total (about -3.3% 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	Deribit CRCL_USDC-PERPETUAL	94.020	0.0495	pay 0.0062% / 1h	28m 40s	$4K	$802K	10x
Short	Orderly PERP_CRCL_USDC_mythos	94.050	0.0100	get 0.0100% / 8h	6h 28m	$938	$3K	10x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee OrderlybpOrdersRate

Funding earned: −$82.97
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$95.97
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 7 min ago; Orderly: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: +0.032%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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, 7 min ago	5.83 bp	9.3 bp −$9	12.2 bp −$122	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Gate CRCL_USDT	0.0000%	8h	$7.1M	$25.8M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	$1.0M	$45K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	$792K	$2.7M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	—	$45K	25x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	$354K	$1.0M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	$1.1M	$5.7M	10x	as long as short
QFEX CRCL-USD	+0.0067%	1h	$1.4M	$2.6M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0090%	8h	$715	$428	5x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0096%	1h	$939K	$790K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Variational Omni CRCL	+0.0097%	8h	$2.5M	$3.2M	—	as long as short
Pacifica CRCL	+0.0100%	1h	$75K	$95K	10x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	$69K	$5K	50x	as long as short
Orderly PERP_CRCL_USDC_mythosshort	+0.0100%	8h	$938	$3K	10x
Aevo CRCL-PERP	+0.0104%	1h	$4	—	10x	as long as short
Bybit CRCLUSDT	+0.0119%	8h	$15.6M	$23.6M	50x	as long as short
tradeXYZ xyz:CRCL	+0.0129%	1h	$71.1M	$40.0M	10x	as long as short
RISEx CRCL/USDC	+0.0140%	1h	$406K	$316K	10x	as long as short
Aster CRCLUSDT	+0.0141%	8h	$1.1M	$4.6M	20x	as long as short
Extended CRCL_24_5-USD	+0.0160%	1h	$1.2M	$3.2M	10x	as long as short
Binance CRCLUSDT	+0.0160%	8h	$107.1M	$360.2M	50x	as long as short
OKX CRCL-USDT-SWAP	+0.0232%	8h	$22.7M	$56.2M	50x	as long as short
Phoenix CRCL	+0.0263%	1h	$28K	$92K	10x	as long as short
BloFin CRCL-USDT	+0.0282%	8h	$1.1M	$588K	20x	as long as short
KuCoin CRCLUSDTM	+0.0294%	8h	$2.9M	$1.5M	20x	as long as short
Lighter CRCL	+0.0296%	1h	$2.9M	$2.0M	10x	as long as short
Bitget CRCLUSDT	+0.0310%	8h	$16.7M	$33.3M	25x	as long as short
Nado CRCL-PERP	+0.0327%	1h	$131K	$67K	3x	as long as short
Aftermath Perps CRCLUSD	+0.0359%	1h	$2K	$14K	5x	as long as short
edgeX CRCLUSDC	+0.0397%	4h	$24K	$266K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	$5K	$58K	30x	as long as short
Deribit CRCL_USDC-PERPETUALlong	+0.0495%	1h	$4K	$802K	10x
Arcus CRCL-USD	+0.0586%	1h	$104K	$252K	10x	as long as short