CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0288%/8h= −31.5% APRnext payment −$0.36 per $10,000 · paid last 24h −0.071%

Price spread now: Lighter RH against Lighter−0.032%7-day average −0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$110.111% of the position

Long on Lighter Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.692%−$69 on $10k

Price spread, last 7 days+0.089%+$9 · spread now −0.032%, 7d avg −0.057%

Together, before fees−0.603%+ Points / potential airdropLighter: Season 3 · Lighter RH: Points live · farm board−$60 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter RH is 0.025% dearer against Lighter than usual: you sell high and buy low (spread −0.032% now, against its 7-day average of −0.057%): +$2 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter CRCL	92.969	0.0320	pay 0.0040% / 1h	42m 59s	$3.0M	$2.1M	10x
Short	Lighter RH CRCL	92.939	0.0032	get 0.0004% / 1h	42m 59s	$998K	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.032%Rate

Funding earned: −$60.48
Price spread: −0.032% → −0.057%: $2.47
Slippage, 4 orders: −$11.15
Fee Lighter: 0 bp × 2 orders: $0
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$69.15
Costs to cover: 0.111%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; Lighter RH: live order book, 3 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, 7 min ago	1.07 bp	1.6 bp −$2	6.7 bp −$67	36.4 bp −$3,644	doesn't fit
Sell Lighter RH live order book, 3 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	−0.020%	$869K	$748K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.930	−0.042%	$15.0M	$25.1M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.980	+0.012%	$18.6M	$33.4M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.900	−0.074%	$1.0M	$45K	10x	as long as short
Vest CRCL-USD-PERP	+0.0001%	1h	92.800	−0.182%	—	$30K	25x	as long as short
Lighter RH CRCLshort	+0.0032%	1h	92.939	−0.032%	$998K	$2.5M	10x
Aftermath Perps CRCLUSD	+0.0041%	1h	92.951	−0.020%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.851	−0.127%	$67.8M	$40.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.881	−0.095%	$377K	$851K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.907	−0.067%	$47K	$3K	10x	as long as short

Show 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	−0.171%	$1.0M	$3.8M	10x	as long as short
QFEX CRCL-USD	+0.0055%	1h	92.880	−0.096%	$1.3M	$1.6M	10x	as long as short
Injective CRCL/USDC PERP	+0.0072%	1h	92.090	−0.945%	$38K	$172K	30x	as long as short
Gate CRCL_USDT	+0.0079%	8h	93.000	+0.033%	$7.5M	$25.3M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	92.900	−0.074%	$139K	$139K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.940	−0.031%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.970	+0.001%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.960	−0.010%	$927	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.950	−0.021%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0108%	8h	92.887	−0.089%	$427	$477	5x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0181%	1h	92.900	−0.074%	$5K	$415K	10x	as long as short
Phoenix CRCL	+0.0197%	1h	92.861	−0.116%	$27K	$66K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	92.870	−0.106%	$93K	$210K	10x	as long as short
Nado CRCL-PERP	+0.0292%	1h	92.846	−0.132%	$155K	$94K	3x	as long as short
Variational Omni CRCL	+0.0306%	8h	93.001	+0.035%	$2.5M	$3.3M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0312%	8h	92.960	−0.010%	$22.9M	$56.8M	50x	as long as short
Lighter CRCLlong	+0.0320%	1h	92.969	long leg	$3.0M	$2.1M	10x
Aster CRCLUSDT	+0.0375%	8h	92.974	+0.006%	$1.1M	$4.4M	20x	as long as short
Extended CRCL_24_5-USD	+0.0376%	1h	92.919	−0.054%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0378%	8h	92.940	−0.031%	$107.2M	$352.1M	50x	as long as short
BloFin CRCL-USDT	+0.0505%	8h	92.980	+0.012%	$1.1M	$1.7M	20x	as long as short
RISEx CRCL/USDC	+0.0528%	1h	92.925	−0.047%	$417K	$233K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0773%	8h	93.081	+0.120%	$61K	$1.0M	10x	as long as short
edgeX CRCLUSDC	+0.0830%	4h	92.904	−0.070%	$53K	$270K	10x	as long as short