CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0214%/8h= −23.4% APRnext payment −$0.27 per $10,000 · paid last 24h −0.066%

Price spread now: Ondo Perps against Lighter−0.219%7-day average −0.198% · you buy dearer than you sell

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

Long on Lighter Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.690%−$69 on $10k

Price spread, last 7 days−0.597%−$60 · spread now −0.219%, 7d avg −0.198%

Together, before fees−1.288%+ Points / potential airdropLighter: Season 3 · Ondo Perps: Active · farm board−$129 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Ondo Perps is 0.021% cheaper against Lighter than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.198%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter CRCL	91.370	0.0264	pay 0.0033% / 1h	32m 33s	$2.9M	$2.4M	10x
Short	Ondo Perps CRCL-USD.P	91.170	0.0050	get 0.0006% / 1h	32m 33s	$1.1M	$4.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.219%Rate

Funding earned: −$44.86
Price spread: −0.219% → −0.198%: −$2.11
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$51.96
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 5 min ago; Ondo Perps: 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, 5 min ago	2.79 bp	3.6 bp −$4	7.2 bp −$72	38.1 bp −$3,806	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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	−0.0254%	8h	91.380	+0.011%	$17.5M	$36.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0078%	1h	91.070	−0.328%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.390	+0.022%	$7.8M	$27.4M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.350	−0.022%	$1.0M	$48K	10x	as long as short
Bybit CRCLUSDT	+0.0028%	8h	91.340	−0.033%	$14.8M	$26.5M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.361	−0.010%	$981K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.432	+0.068%	$2K	$28K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.390	+0.022%	$95K	$296K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.321	−0.054%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.Pshort	+0.0050%	1h	91.170	−0.219%	$1.1M	$4.8M	10x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.330	−0.044%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.400	+0.033%	$890K	$402K	10x	as long as short
Variational Omni CRCL	+0.0097%	8h	91.457	+0.095%	$2.4M	$3.2M	—	as long as short
Pacifica CRCL	+0.0100%	1h	91.320	−0.055%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.350	−0.022%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.200	−0.186%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.320	−0.055%	$910	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.357	−0.014%	$4	—	10x	as long as short
tradeXYZ xyz:CRCL	+0.0119%	1h	91.279	−0.100%	$67.6M	$43.9M	10x	as long as short
edgeX CRCLUSDC	+0.0124%	4h	91.531	+0.177%	$52K	$275K	10x	as long as short
Polymarket Perps CRCL-USD	+0.0158%	1h	91.323	−0.051%	$379K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0161%	8h	91.330	−0.044%	$420	$905	5x	as long as short
Aster CRCLUSDT	+0.0168%	8h	91.385	+0.017%	$1.0M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0184%	1h	91.315	−0.060%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0186%	8h	91.340	−0.033%	$105.0M	$389.7M	50x	as long as short
Phoenix CRCL	+0.0227%	1h	91.689	+0.349%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0244%	8h	91.400	+0.033%	$61K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0260%	8h	91.370	0.000%	$22.2M	$61.7M	50x	as long as short
Lighter CRCLlong	+0.0264%	1h	91.370	long leg	$2.9M	$2.4M	10x
BloFin CRCL-USDT	+0.0304%	8h	91.320	−0.055%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0426%	1h	91.265	−0.115%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.010	+0.700%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.360	−0.011%	$412K	$272K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0627%	1h	91.330	−0.044%	$5K	$769K	10x	as long as short