CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0240%/8h= +26.3% APRnext payment +$0.30 per $10,000 · paid last 24h +0.041%

Price spread now: Injective against Lighter+0.277%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Injective is 0.277% dearer against Lighter than usual: you sell high and buy low: +$28 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.069% in total (about 3.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.30 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	Lighter CRCL	92.015	0.0200	pay 0.0025% / 1h	36m 37s	$3.0M	$2.4M	10x
Short	Injective CRCL/USDC PERP	92.270	0.0440	get 0.0055% / 1h	36m 37s	$5K	$19K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.277%Rate

Funding earned: $50.4
Price spread: +0.277% → 0.000%: $27.71
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $78.09
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: live order book, 6 min ago; Injective: 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 Lighter live order book, 6 min ago	2.23 bp	3.6 bp −$4	9.0 bp −$90	38.6 bp −$3,865	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0361%	8h	92.120	+0.114%	$16.0M	$35.3M	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.650	−0.397%	$912K	$584K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.990	−0.027%	$15.1M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.017	+0.002%	$420K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.100	+0.092%	$7.2M	$26.4M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.790	−0.245%	$61K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.860	−0.168%	$1.0M	$49K	10x	as long as short
Variational Omni CRCL	+0.0004%	8h	91.891	−0.135%	$2.5M	$3.2M	—	as long as short
Vest CRCL-USD-PERP	+0.0005%	1h	91.710	−0.331%	—	$37K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0026%	1h	91.985	−0.032%	$2K	$22K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	91.984	−0.034%	$978K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.900	−0.125%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.944	−0.077%	$69.3M	$41.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.919	−0.104%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.852	−0.177%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.850	−0.179%	$1.0M	$5.5M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	92.000	−0.016%	$1.3M	$2.4M	10x	as long as short
Binance CRCLUSDT	+0.0078%	8h	91.980	−0.038%	$105.0M	$393.6M	50x	as long as short
OKX CRCL-USDT-SWAP	+0.0078%	8h	92.030	+0.016%	$21.7M	$60.2M	50x	as long as short
Extended CRCL_24_5-USD	+0.0080%	1h	91.989	−0.028%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0081%	8h	91.997	−0.020%	$1.1M	$4.9M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0084%	8h	92.039	+0.026%	$755	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.980	−0.038%	$129K	$154K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.020	+0.005%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.780	−0.255%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.850	−0.179%	$916	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.861	−0.167%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0181%	1h	91.942	−0.079%	$131K	$103K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0186%	1h	91.860	−0.168%	$4K	$769K	10x	as long as short
Lighter CRCLlong	+0.0200%	1h	92.015	long leg	$3.0M	$2.4M	10x
BloFin CRCL-USDT	+0.0222%	8h	92.330	+0.342%	$1.1M	$1.1M	20x	as long as short
Phoenix CRCL	+0.0231%	1h	91.730	−0.310%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERPshort	+0.0440%	1h	92.270	+0.277%	$5K	$19K	30x
edgeX CRCLUSDC	+0.0565%	4h	91.735	−0.304%	$23K	$267K	10x	as long as short