CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0408%/8h= +44.7% APRnext payment +$0.51 per $10,000 · paid last 24h +0.122%

Price spread now: Injective against Lighter RH−0.983%7-day average +0.902% · you buy dearer than you sell

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$275as in the Price arb table

costs, in and out, $10k−$860.863% of the position

Long on Lighter RH Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.749%+$75 on $10k

Price spread, last 4 days (all we have)+1.347%+$135 · spread now −0.983%, 7d avg +0.902%

Together, before fees+2.096%+ Points / potential airdropLighter RH: Points live · farm board+$210 on $10k · with fees, hour by hour

Funding pays, the price is against you. Injective is 1.885% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.983% now, against its 7-day average of +0.902%). If the spread goes back, that is −$188 on $10k: about 15 days of funding at the current rate (+$12 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH CRCL	93.004	0.0032	pay 0.0004% / 1h	4m 33s	$1.0M	$2.5M	10x
Short	Injective CRCL/USDC PERP	92.090	0.0440	get 0.0055% / 1h	4m 33s	$38K	$172K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.983%Rate

Funding earned: $85.68
Price spread: −0.983% → +0.902%: −$188.48
Slippage, 4 orders: −$86.32
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$189.14
Costs to cover: 0.863%
Break-even: 22.5 days

Slippage from Lighter RH: live order book, 2 min ago; Injective: live order book, 47 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, 2 min ago	0.48 bp	5.2 bp −$5	13.1 bp −$131	doesn't fit	doesn't fit
Sell Injective live order book, 47 min ago	21.77 bp	21.8 bp −$22	30.8 bp −$308	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
Vest CRCL-USD-PERP	−0.0021%	1h	92.800	−0.219%	—	$30K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.990	−0.015%	$15.1M	$25.1M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	93.040	+0.039%	$18.2M	$33.7M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.850	−0.166%	$1.0M	$45K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0008%	1h	92.890	−0.123%	$860K	$702K	10x	as long as short
Lighter RH CRCLlong	+0.0032%	1h	93.004	long leg	$1.0M	$2.5M	10x
Aftermath Perps CRCLUSD	+0.0041%	1h	92.639	−0.393%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.925	−0.085%	$67.9M	$40.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.968	−0.039%	$382K	$847K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.865	−0.149%	$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	92.910	−0.101%	$1.1M	$3.8M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0073%	1h	92.910	−0.101%	$5K	$454K	10x	as long as short
QFEX CRCL-USD	+0.0080%	1h	92.950	−0.058%	$1.3M	$1.6M	10x	as long as short
Gate CRCL_USDT	+0.0096%	8h	93.070	+0.071%	$7.4M	$26.0M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	92.960	−0.047%	$139K	$141K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.940	−0.069%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.550	−0.488%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.950	−0.058%	$927	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.950	−0.058%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0135%	8h	92.988	−0.017%	$428	$477	5x	as long as short
Phoenix CRCL	+0.0199%	1h	92.671	−0.358%	$27K	$66K	10x	as long as short
Lighter CRCL	+0.0264%	1h	93.055	+0.055%	$3.0M	$2.1M	10x	as long as short
Variational Omni CRCL	+0.0303%	8h	92.823	−0.194%	$2.5M	$3.3M	—	as long as short
Nado CRCL-PERP	+0.0319%	1h	92.954	−0.054%	$152K	$107K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0339%	8h	93.000	−0.004%	$22.9M	$57.2M	50x	as long as short
Arcus CRCL-USD	+0.0368%	1h	92.960	−0.047%	$94K	$226K	10x	as long as short
Aster CRCLUSDT	+0.0382%	8h	92.936	−0.074%	$1.1M	$4.5M	20x	as long as short
Extended CRCL_24_5-USD	+0.0384%	1h	92.944	−0.065%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0390%	8h	92.964	−0.043%	$107.6M	$355.6M	50x	as long as short
Injective CRCL/USDC PERPshort	+0.0440%	1h	92.090	−0.983%	$38K	$172K	30x
RISEx CRCL/USDC	+0.0479%	1h	93.005	+0.001%	$417K	$243K	10x	as long as short
BloFin CRCL-USDT	+0.0505%	8h	92.950	−0.058%	$1.1M	$1.7M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0795%	8h	92.663	−0.367%	$62K	$1.0M	10x	as long as short
edgeX CRCLUSDC	+0.0977%	4h	92.636	−0.396%	$53K	$269K	10x	as long as short