CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0048%/8h= −5.3% APRnext payment −$0.06 per $10,000 · paid last 24h +0.013%

Price spread now: Coinbase International against Lighter RH+0.004%7-day average −0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$320.320% of the position

Long on Lighter RH Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.197%+$20 on $10k

Price spread, last 3 days (all we have)−0.083%−$8 · spread now +0.004%, 7d avg −0.055%

Together, before fees+0.113%+ Points / potential airdropLighter RH: Points live · farm board+$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.059% dearer against Lighter RH than usual: you sell high and buy low (spread +0.004% now, against its 7-day average of −0.055%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.1 days. Mind the row above: over the last 7 days funding on this pair paid +0.197%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH CRCL	91.156	0.0032	pay 0.0004% / 1h	49m 40s	$969K	$2.9M	10x
Short	Coinbase International CRCL-PERP-INTX	91.160	−0.0016	pay 0.0002% / 1h	49m 40s	$900K	$539K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Lighter RH. 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 Lighter RHbpFee Coinbase InternationalbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$10.08
Price spread: +0.004% → −0.055%: $5.92
Slippage, 4 orders: −$22.02
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$36.18
Costs to cover: 0.320%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 3 min ago; Coinbase International: live order book, 14 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 RH live order book, 3 min ago	3.28 bp	4.0 bp −$4	8.3 bp −$83	doesn't fit	doesn't fit
Sell Coinbase International live order book, 14 min ago	7.08 bp	12.1 bp −$12	15.5 bp −$155	doesn't fit	doesn't fit

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	−0.1192%	8h	91.190	+0.037%	$15.6M	$34.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0075%	1h	90.980	−0.193%	—	$38K	25x	as long as short
Coinbase International CRCL-PERP-INTXshort	−0.0016%	1h	91.160	+0.004%	$900K	$539K	10x
Bybit CRCLUSDT	0.0000%	8h	91.120	−0.039%	$14.9M	$25.7M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.110	−0.050%	$416K	$297K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.150	−0.007%	$7.0M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.307	+0.166%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.340	+0.202%	$66K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.170	+0.015%	$1.0M	$49K	10x	as long as short
Binance CRCLUSDT	+0.0014%	8h	91.102	−0.059%	$103.5M	$383.6M	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	91.093	−0.069%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0021%	8h	91.147	−0.010%	$1.1M	$4.9M	20x	as long as short
Aftermath Perps CRCLUSD	+0.0023%	1h	91.468	+0.342%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.100	−0.061%	$1.3M	$2.2M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0027%	8h	91.160	+0.004%	$21.4M	$58.9M	50x	as long as short
Lighter RH CRCLlong	+0.0032%	1h	91.156	long leg	$969K	$2.9M	10x
Arcus CRCL-USD	+0.0040%	1h	91.320	+0.180%	$93K	$271K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.130	−0.029%	$68.2M	$41.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.110	−0.050%	$353K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.140	−0.018%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.160	+0.004%	$973K	$5.1M	10x	as long as short
edgeX CRCLUSDC	+0.0055%	4h	91.376	+0.242%	$23K	$267K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0070%	8h	91.133	−0.025%	$747	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.118	−0.042%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.200	+0.048%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.500	+0.377%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.140	−0.018%	$909	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.133	−0.025%	$4	—	10x	as long as short
Phoenix CRCL	+0.0183%	1h	91.382	+0.248%	$27K	$84K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0189%	1h	91.180	+0.026%	$4K	$767K	10x	as long as short
Nado CRCL-PERP	+0.0205%	1h	91.164	+0.009%	$130K	$103K	3x	as long as short
Lighter CRCL	+0.0280%	1h	91.170	+0.015%	$2.9M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.900	+0.816%	$5K	$19K	30x	as long as short