CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0256%/8h= −28.0% APRnext payment −$0.32 per $10,000 · paid last 24h −0.033%

Price spread now: Extended against Lighter−0.048%7-day average −0.108% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$200.201% of the position

Long on Lighter Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.493%−$49 on $10k

Price spread, last 4 days (all we have)−0.064%−$6 · spread now −0.048%, 7d avg −0.108%

Together, before fees−0.557%+ Points / potential airdropLighter: Season 3 · Extended: Active · farm board−$56 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.060% dearer against Lighter than usual: you sell high and buy low (spread −0.048% now, against its 7-day average of −0.108%): +$6 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter CRCL	91.172	0.0272	pay 0.0034% / 1h	47m 51s	$2.9M	$2.4M	10x
Short	Extended CRCL_24_5-USD	91.128	0.0016	get 0.0002% / 1h	47m 51s	$1.1M	$5.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Lighter. 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 LighterbpFee ExtendedbpOrdersPrice spread, now −0.048%Rate

Funding earned: −$53.76
Price spread: −0.048% → −0.108%: $5.98
Slippage, 4 orders: −$15.12
Fee Lighter: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$67.9
Costs to cover: 0.201%
Break-even: never at this rate

Slippage from Lighter: live order book, 9 min ago; Extended: live order book, 1 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 Lighter live order book, 9 min ago	1.86 bp	3.4 bp −$3	15.8 bp −$158	42.5 bp −$4,247	doesn't fit
Sell Extended live order book, 1 min ago	0.22 bp	5.3 bp −$5	34.3 bp −$343	doesn't fit	doesn't fit

CRCL on 33 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	−0.1223%	8h	91.240	+0.075%	$15.6M	$34.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0075%	1h	90.840	−0.364%	—	$35K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.160	−0.013%	$900K	$535K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.200	+0.031%	$14.9M	$25.6M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.100	−0.079%	$416K	$297K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.190	+0.020%	$7.0M	$26.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.307	+0.148%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.340	+0.184%	$66K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.200	+0.031%	$1.0M	$49K	10x	as long as short
Binance CRCLUSDT	+0.0012%	8h	91.191	+0.021%	$103.6M	$383.9M	50x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CRCL_24_5-USDshort	+0.0016%	1h	91.128	−0.048%	$1.1M	$5.7M	10x
Aster CRCLUSDT	+0.0018%	8h	91.141	−0.034%	$1.1M	$4.9M	20x	as long as short
Aftermath Perps CRCLUSD	+0.0022%	1h	91.316	+0.158%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.090	−0.090%	$1.3M	$2.2M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0026%	8h	91.200	+0.031%	$21.4M	$58.9M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.160	−0.013%	$969K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.240	+0.075%	$92K	$271K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.153	−0.021%	$68.2M	$41.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.082	−0.099%	$353K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.078	−0.103%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.050	−0.134%	$973K	$5.1M	10x	as long as short
edgeX CRCLUSDC	+0.0055%	4h	91.376	+0.224%	$23K	$267K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0069%	8h	91.112	−0.066%	$747	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.122	−0.055%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.220	+0.053%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.500	+0.360%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.110	−0.068%	$908	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.126	−0.050%	$4	—	10x	as long as short
Phoenix CRCL	+0.0183%	1h	91.079	−0.102%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0196%	1h	91.064	−0.118%	$130K	$103K	3x	as long as short
Lighter CRCLlong	+0.0272%	1h	91.172	long leg	$2.9M	$2.4M	10x
Deribit CRCL_USDC-PERPETUAL	+0.0299%	1h	91.120	−0.057%	$4K	$767K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.820	+0.711%	$5K	$19K	30x	as long as short