Funding you earn now, next payment 11:00 UTC−0.0040%/8h= −4.3% APRnext payment −$0.05 per $10,000 · paid last 24h −0.122%
Price spread now: Lighter RH against Injective+0.948%67s7-day average −0.878% · you sell dearer than you buy
Net, funding: paid 7d − costs−$135as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$600.600% of the position
Funding, last 7 days−0.749%−$75 on $10k
+Price spread, last 4 days (all we have)−1.345%−$134 · spread now +0.948%, 7d avg −0.878%
=Together, before fees−2.094%+ Points / potential airdropLighter RH: Points live · farm board−$209 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter RH is 1.826% dearer against Injective than usual: you sell high and buy low (spread +0.948% now, against its 7-day average of −0.878%): +$183 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5 months. At the pace of the last 7 days (−0.749% in total) that is about 17 days. The two prices were read 67 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective CRCL/USDC PERP | 92.090 | 0.0072 | pay 0.0009% / 1h | 44m 07s | $38K | $172K | 30x |
| Short | Lighter RH CRCL | 92.963 | 0.0032 | get 0.0004% / 1h | 44m 07s | $998K | $2.5M | 10x |
Injective CRCL/USDC PERP
Lighter RH CRCLFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Injective. 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
- −$8.32
- Price spread: +0.948% → −0.878%
- $182.59
- Slippage, 4 orders
- −$59.94
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- $114.31
- Costs to cover
- 0.600%
- Break-even
- from the start
Slippage from Injective: live order book, 3 min ago; Lighter RH: live order book, 2 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 Injective live order book, 3 min ago | 26.32 bp | 26.3 bp −$26 | 32.1 bp −$321 | 77868.8 bp −$7.79M | 429343.9 bp −$214.67M |
| Sell Lighter RH live order book, 2 min ago | 2.15 bp | 2.2 bp −$2 | 4.0 bp −$40 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International CRCL-PERP-INTX | −0.0048% | 1h | 92.950 | +0.934% | $869K | $748K | 10x | as long as short |
| Bybit CRCLUSDT | 0.0000% | 8h | 92.950 | +0.934% | $15.0M | $25.1M | 50x | as long as short |
| Bitget CRCLUSDT | 0.0000% | 8h | 92.970 | +0.956% | $18.6M | $33.4M | 25x | as long as short |
| Phemex CRCLUSDT | 0.0000% | 4h | 92.890 | +0.869% | $1.0M | $45K | 10x | as long as short |
| Vest CRCL-USD-PERP | 0.0000% | 1h | 92.850 | +0.825% | — | $30K | 25x | as long as short |
| Lighter RH CRCLshort | +0.0032% | 1h | 92.963 | +0.948% | $998K | $2.5M | 10x | |
| Aftermath Perps CRCLUSD | +0.0041% | 1h | 92.974 | +0.960% | $2K | $29K | 5x | as long as short |
| tradeXYZ xyz:CRCL | +0.0050% | 1h | 92.980 | +0.966% | $67.9M | $40.2M | 10x | as long as short |
| Polymarket Perps CRCL-USD | +0.0050% | 1h | 92.851 | +0.826% | $381K | $847K | 10x | as long as short |
| SoDEX CRCL-USD | +0.0050% | 1h | 92.907 | +0.887% | $47K | $3K | 10x | as long as short |
Coinbase International CRCL-PERP-INTX
Bybit CRCLUSDT
Bitget CRCLUSDT
Phemex CRCLUSDT
Vest CRCL-USD-PERP
Aftermath Perps CRCLUSD
tradeXYZ xyz:CRCL
Polymarket Perps CRCL-USD
SoDEX CRCL-USDShow 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 | 92.810 | +0.782% | $1.0M | $3.8M | 10x | as long as short |
| QFEX CRCL-USD | +0.0055% | 1h | 92.910 | +0.890% | $1.3M | $1.6M | 10x | as long as short |
| Injective CRCL/USDC PERPlong | +0.0072% | 1h | 92.090 | long leg | $38K | $172K | 30x | |
| Deribit CRCL_USDC-PERPETUAL | +0.0073% | 1h | 92.930 | +0.912% | $5K | $415K | 10x | as long as short |
| Gate CRCL_USDT | +0.0079% | 8h | 92.990 | +0.977% | $7.5M | $25.3M | 50x | as long as short |
| Pacifica CRCL | +0.0100% | 1h | 92.910 | +0.890% | $139K | $139K | 10x | as long as short |
| KuCoin CRCLUSDTM | +0.0100% | 8h | 92.960 | +0.945% | $2.6M | $1.6M | 20x | as long as short |
| ApeX Omni CRCLUSDT | +0.0100% | 1h | 93.030 | +1.021% | $68K | $4K | 50x | as long as short |
| Orderly PERP_CRCL_USDC_mythos | +0.0100% | 8h | 92.980 | +0.966% | $927 | $1K | 10x | as long as short |
| Aevo CRCL-PERP | +0.0104% | 1h | 92.962 | +0.947% | $4 | — | 10x | as long as short |
| Paradex CRCL-USD-PERP | +0.0109% | 8h | 92.886 | +0.865% | $427 | $477 | 5x | as long as short |
| Phoenix CRCL | +0.0197% | 1h | 93.210 | +1.216% | $28K | $66K | 10x | as long as short |
| Arcus CRCL-USD | +0.0214% | 1h | 92.860 | +0.836% | $93K | $210K | 10x | as long as short |
| edgeX CRCLUSDC | +0.0218% | 4h | 93.043 | +1.035% | $53K | $270K | 10x | as long as short |
| Nado CRCL-PERP | +0.0290% | 1h | 92.855 | +0.831% | $155K | $94K | 3x | as long as short |
| Variational Omni CRCL | +0.0306% | 8h | 93.001 | +0.990% | $2.5M | $3.3M | — | as long as short |
| OKX CRCL-USDT-SWAP | +0.0314% | 8h | 92.960 | +0.945% | $22.9M | $56.8M | 50x | as long as short |
| Lighter CRCL | +0.0320% | 1h | 93.003 | +0.991% | $3.0M | $2.1M | 10x | as long as short |
| Aster CRCLUSDT | +0.0379% | 8h | 93.001 | +0.989% | $1.1M | $4.4M | 20x | as long as short |
| Extended CRCL_24_5-USD | +0.0384% | 1h | 92.939 | +0.922% | $1.1M | $4.0M | 10x | as long as short |
| Binance CRCLUSDT | +0.0385% | 8h | 92.950 | +0.934% | $107.5M | $352.1M | 50x | as long as short |
| BloFin CRCL-USDT | +0.0512% | 8h | 92.930 | +0.912% | $1.1M | $1.7M | 20x | as long as short |
| RISEx CRCL/USDC | +0.0528% | 1h | 92.925 | +0.907% | $417K | $233K | 10x | as long as short |
| GRVT CRCL_USDT_Perp | +0.0773% | 8h | 93.081 | +1.076% | $61K | $1.0M | 10x | as long as short |
Ondo Perps CRCL-USD.P
QFEX CRCL-USD
Deribit CRCL_USDC-PERPETUAL
Gate CRCL_USDT
Pacifica CRCL
KuCoin CRCLUSDTM
ApeX Omni CRCLUSDT
Orderly PERP_CRCL_USDC_mythos
Aevo CRCL-PERP
Paradex CRCL-USD-PERP
Phoenix CRCL
Arcus CRCL-USD
edgeX CRCLUSDC
Nado CRCL-PERP
Variational Omni CRCL
OKX CRCL-USDT-SWAP
Lighter CRCL
Aster CRCLUSDT
Extended CRCL_24_5-USD
Binance CRCLUSDT
BloFin CRCL-USDT
RISEx CRCL/USDC
GRVT CRCL_USDT_Perp