CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0144%/8h= −15.8% APRnext payment −$0.18 per $10,000 · paid last 24h −0.054%

Price spread now: tradeXYZ against Lighter−0.078%7-day average −0.122% · you buy dearer than you sell

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$280.279% of the position

Long on Lighter Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.611%−$61 on $10k

Price spread, last 7 days−0.003%$0 · spread now −0.078%, 7d avg −0.122%

Together, before fees−0.614%+ Points / potential airdropLighter: Season 3 · tradeXYZ: Active · farm board−$61 on $10k · with fees, hour by hour

The price spread pays, funding is against you. tradeXYZ is 0.044% dearer against Lighter than usual: you sell high and buy low (spread −0.078% now, against its 7-day average of −0.122%): +$4 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 25 hours. At the pace of the last 7 days (−0.611% in total) that is about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter CRCL	91.305	0.0264	pay 0.0033% / 1h	30m 52s	$2.9M	$2.4M	10x
Short	tradeXYZ xyz:CRCL	91.234	0.0120	get 0.0015% / 1h	30m 52s	$67.6M	$43.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.078%Rate

Funding earned: −$30.21
Price spread: −0.078% → −0.122%: $4.41
Slippage, 4 orders: −$9.94
Fee Lighter: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$53.74
Costs to cover: 0.279%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; tradeXYZ: live order book, 9 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, 6 min ago	2.79 bp	3.6 bp −$4	7.2 bp −$72	38.1 bp −$3,806	doesn't fit
Sell tradeXYZ live order book, 9 min ago	0.82 bp	10.2 bp −$10	doesn't fit	doesn't fit	doesn't fit

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	−0.0261%	8h	91.360	+0.060%	$17.5M	$36.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0076%	1h	91.040	−0.290%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.350	+0.049%	$7.8M	$27.4M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.300	−0.005%	$1.0M	$48K	10x	as long as short
Bybit CRCLUSDT	+0.0031%	8h	91.300	−0.005%	$14.8M	$26.5M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.307	+0.002%	$980K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	91.361	+0.062%	$2K	$28K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.360	+0.060%	$95K	$296K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.281	−0.026%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.170	−0.148%	$1.1M	$4.8M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.310	+0.005%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.200	−0.115%	$888K	$391K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.310	+0.005%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.300	−0.005%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.250	−0.060%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.270	−0.038%	$910	$1K	10x	as long as short
Variational Omni CRCL	+0.0102%	8h	91.298	−0.008%	$2.4M	$3.2M	—	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.299	−0.006%	$4	—	10x	as long as short
tradeXYZ xyz:CRCLshort	+0.0120%	1h	91.234	−0.078%	$67.6M	$43.9M	10x
Polymarket Perps CRCL-USD	+0.0161%	1h	91.284	−0.023%	$378K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0161%	8h	91.302	−0.003%	$420	$905	5x	as long as short
Aster CRCLUSDT	+0.0170%	8h	91.329	+0.026%	$1.0M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0184%	1h	91.276	−0.032%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0187%	8h	91.290	−0.016%	$104.9M	$389.7M	50x	as long as short
Phoenix CRCL	+0.0227%	1h	91.271	−0.037%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0244%	8h	91.400	+0.104%	$61K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0262%	8h	91.310	+0.005%	$22.2M	$61.7M	50x	as long as short
Lighter CRCLlong	+0.0264%	1h	91.305	long leg	$2.9M	$2.4M	10x
BloFin CRCL-USDT	+0.0307%	8h	91.300	−0.005%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0428%	1h	91.244	−0.067%	$134K	$109K	3x	as long as short
edgeX CRCLUSDC	+0.0430%	4h	91.340	+0.038%	$52K	$276K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.010	+0.772%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.332	+0.030%	$412K	$272K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0737%	1h	91.280	−0.027%	$5K	$769K	10x	as long as short