Funding you earn now, next payment 02:00 UTC−0.0226%/8h= −24.8% APRnext payment −$0.28 per $10,000 · paid last 24h −0.006%
Price spread now: Arcus against Nado+0.667%7-day average −0.048% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs+$35as in the Price arb table
costs, in and out, $10k−$360.364% of the position
Funding, last 3 days (all we have)−0.037%−$4 on $10k
+Price spread, last 3 days (all we have)−0.753%−$75 · spread now +0.667%, 7d avg −0.048%
=Together, before fees−0.790%+ Points / potential airdropNado: Active · farm board−$79 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Arcus is 0.714% dearer against Nado than usual: you sell high and buy low (spread +0.667% now, against its 7-day average of −0.048%): +$71 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 11 days. At the pace of the last 3 days (−0.037% in total) that is about 2 months.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.037% in total (about -4.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.28 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado CRCL-PERP | 92.752 | 0.0266 | pay 0.0033% / 1h | 56m 29s | $153K | $89K | 3x |
| Short | Arcus CRCL-USD | 93.370 | 0.0040 | get 0.0005% / 1h | 56m 29s | $95K | $271K | 10x |
Nado CRCL-PERP
Arcus CRCL-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Nado. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$47.5
- Price spread: +0.667% → −0.048%
- $71.42
- Slippage, 4 orders
- −$24.87
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$12.46
- Costs to cover
- 0.364%
- Break-even
- from the start
Slippage from Nado: live order book, 11 min ago; Arcus: live order book, 12 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 Nado live order book, 11 min ago | 1.60 bp | 9.0 bp −$9 | 29.0 bp −$290 | doesn't fit | doesn't fit |
| Sell Arcus live order book, 12 min ago | 3.19 bp | 10.1 bp −$10 | 14.3 bp −$143 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International CRCL-PERP-INTX | −0.0008% | 1h | 93.200 | +0.483% | $932K | $589K | 10x | as long as short |
| Bybit CRCLUSDT | 0.0000% | 8h | 92.800 | +0.052% | $15.2M | $25.6M | 50x | as long as short |
| RISEx CRCL/USDC | 0.0000% | 1h | 92.986 | +0.252% | $425K | $299K | 10x | as long as short |
| Gate CRCL_USDT | 0.0000% | 8h | 92.980 | +0.246% | $7.2M | $25.5M | 50x | as long as short |
| Bitget CRCLUSDT | 0.0000% | 8h | 93.010 | +0.278% | $16.7M | $34.6M | 25x | as long as short |
| GRVT CRCL_USDT_Perp | 0.0000% | 8h | 93.497 | +0.804% | $62K | $1.1M | 10x | as long as short |
| Phemex CRCLUSDT | 0.0000% | 4h | 93.240 | +0.526% | $1.0M | $49K | 10x | as long as short |
| Lighter RH CRCL | +0.0032% | 1h | 93.095 | +0.370% | $977K | $2.9M | 10x | as long as short |
| Aftermath Perps CRCLUSD | +0.0038% | 1h | 93.449 | +0.751% | $2K | $22K | 5x | as long as short |
| Arcus CRCL-USDshort | +0.0040% | 1h | 93.370 | +0.667% | $95K | $271K | 10x |
Coinbase International CRCL-PERP-INTX
Bybit CRCLUSDT
RISEx CRCL/USDC
Gate CRCL_USDT
Bitget CRCLUSDT
GRVT CRCL_USDT_Perp
Phemex CRCLUSDT
Lighter RH CRCL
Aftermath Perps CRCLUSDShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest CRCL-USD-PERP | +0.0042% | 1h | 92.740 | −0.013% | — | $37K | 25x | as long as short |
| tradeXYZ xyz:CRCL | +0.0050% | 1h | 92.734 | −0.019% | $70.3M | $41.7M | 10x | as long as short |
| Polymarket Perps CRCL-USD | +0.0050% | 1h | 92.784 | +0.035% | $359K | $1.1M | 10x | as long as short |
| SoDEX CRCL-USD | +0.0050% | 1h | 93.160 | +0.440% | $47K | $3K | 10x | as long as short |
| Ondo Perps CRCL-USD.P | +0.0050% | 1h | 92.910 | +0.171% | $1.0M | $5.6M | 10x | as long as short |
| QFEX CRCL-USD | +0.0057% | 1h | 92.910 | +0.171% | $1.3M | $2.4M | 10x | as long as short |
| Variational Omni CRCL | +0.0059% | 8h | 93.569 | +0.881% | $2.5M | $3.1M | — | as long as short |
| Paradex CRCL-USD-PERP | +0.0096% | 8h | 93.047 | +0.319% | $763 | $740 | 5x | as long as short |
| Pacifica CRCL | +0.0100% | 1h | 93.141 | +0.420% | $75K | $96K | 10x | as long as short |
| KuCoin CRCLUSDTM | +0.0100% | 8h | 92.950 | +0.214% | $2.9M | $1.9M | 20x | as long as short |
| ApeX Omni CRCLUSDT | +0.0100% | 1h | 93.450 | +0.753% | $69K | $4K | 50x | as long as short |
| Orderly PERP_CRCL_USDC_mythos | +0.0100% | 8h | 93.190 | +0.472% | $929 | $3K | 10x | as long as short |
| Aevo CRCL-PERP | +0.0104% | 1h | 93.129 | +0.407% | $4 | — | 10x | as long as short |
| OKX CRCL-USDT-SWAP | +0.0115% | 8h | 92.870 | +0.127% | $22.5M | $58.5M | 50x | as long as short |
| Aster CRCLUSDT | +0.0130% | 8h | 93.040 | +0.311% | $1.1M | $4.9M | 20x | as long as short |
| Binance CRCLUSDT | +0.0133% | 8h | 92.820 | +0.074% | $107.1M | $387.8M | 50x | as long as short |
| Extended CRCL_24_5-USD | +0.0136% | 1h | 92.981 | +0.247% | $1.1M | $5.7M | 10x | as long as short |
| BloFin CRCL-USDT | +0.0255% | 8h | 93.170 | +0.451% | $1.1M | $1.0M | 20x | as long as short |
| Nado CRCL-PERPlong | +0.0266% | 1h | 92.752 | long leg | $153K | $89K | 3x | |
| Deribit CRCL_USDC-PERPETUAL | +0.0287% | 1h | 93.100 | +0.375% | $4K | $769K | 10x | as long as short |
| Phoenix CRCL | +0.0296% | 1h | 93.327 | +0.620% | $28K | $92K | 10x | as long as short |
| Lighter CRCL | +0.0328% | 1h | 93.106 | +0.382% | $3.0M | $2.3M | 10x | as long as short |
| Injective CRCL/USDC PERP | +0.0440% | 1h | 93.910 | +1.249% | $5K | $19K | 30x | as long as short |
| edgeX CRCLUSDC | +0.0813% | 4h | 93.468 | +0.773% | $24K | $266K | 10x | as long as short |
Vest CRCL-USD-PERP
tradeXYZ xyz:CRCL
Polymarket Perps CRCL-USD
SoDEX CRCL-USD
Ondo Perps CRCL-USD.P
QFEX CRCL-USD
Variational Omni CRCL
Paradex CRCL-USD-PERP
Pacifica CRCL
KuCoin CRCLUSDTM
ApeX Omni CRCLUSDT
Orderly PERP_CRCL_USDC_mythos
Aevo CRCL-PERP
OKX CRCL-USDT-SWAP
Aster CRCLUSDT
Binance CRCLUSDT
Extended CRCL_24_5-USD
BloFin CRCL-USDT
Deribit CRCL_USDC-PERPETUAL
Phoenix CRCL
Lighter CRCL
Injective CRCL/USDC PERP
edgeX CRCLUSDC