CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0097%/8h= −10.6% APRnext payment −$0.12 per $10,000 · paid last 24h −0.031%

Price spread now: Phoenix against Lighter−0.090%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.508%−$51 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 against this trade now: funding costs −$3 a day on $10k at the current rate, and Phoenix is 0.090% cheaper against Lighter than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter CRCL	91.161	0.0280	pay 0.0035% / 1h	48m 29s	$2.9M	$2.4M	10x
Short	Phoenix CRCL	91.079	0.0183	get 0.0023% / 1h	48m 29s	$27K	$84K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.090%Rate

Funding earned: −$20.41
Price spread: −0.090% → 0.000%: −$9
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$36.4
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 9 min ago; Phoenix: 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, 9 min ago	1.86 bp	3.4 bp −$3	15.8 bp −$158	42.5 bp −$4,247	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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 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	91.160	−0.001%	$15.6M	$34.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0075%	1h	90.840	−0.352%	—	$35K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.160	−0.001%	$900K	$539K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.130	−0.034%	$14.9M	$25.7M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.100	−0.067%	$416K	$297K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.130	−0.034%	$7.0M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.307	+0.160%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.340	+0.196%	$66K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.100	−0.067%	$1.0M	$49K	10x	as long as short
Binance CRCLUSDT	+0.0012%	8h	91.115	−0.051%	$103.5M	$383.8M	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-USD	+0.0016%	1h	91.088	−0.080%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0018%	8h	91.096	−0.071%	$1.1M	$4.9M	20x	as long as short
Aftermath Perps CRCLUSD	+0.0022%	1h	91.379	+0.239%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.090	−0.078%	$1.3M	$2.2M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0026%	8h	91.120	−0.045%	$21.4M	$58.9M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.148	−0.014%	$969K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.240	+0.087%	$92K	$271K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.070	−0.100%	$68.2M	$41.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.082	−0.087%	$353K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.093	−0.075%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.050	−0.122%	$973K	$5.1M	10x	as long as short
edgeX CRCLUSDC	+0.0055%	4h	91.376	+0.236%	$23K	$267K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0069%	8h	91.112	−0.054%	$747	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.122	−0.043%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.170	+0.010%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.500	+0.372%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.070	−0.100%	$908	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.056	−0.116%	$4	—	10x	as long as short
Phoenix CRCLshort	+0.0183%	1h	91.079	−0.090%	$27K	$84K	10x
Deribit CRCL_USDC-PERPETUAL	+0.0189%	1h	91.090	−0.078%	$4K	$767K	10x	as long as short
Nado CRCL-PERP	+0.0196%	1h	91.064	−0.106%	$130K	$103K	3x	as long as short
Lighter CRCLlong	+0.0280%	1h	91.161	long leg	$2.9M	$2.4M	10x
Injective CRCL/USDC PERP	+0.0440%	1h	91.820	+0.723%	$5K	$19K	30x	as long as short