CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0322%/8h= −35.3% APRnext payment −$0.40 per $10,000 · paid last 24h −0.061%

Price spread now: Ondo Perps against Nado−0.094%7-day average −0.090% · you buy dearer than you sell

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

Long on Nado Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.086%−$9 on $10k

Price spread, last 4 days (all we have)−0.025%−$2 · spread now −0.094%, 7d avg −0.090%

Together, before fees−0.111%+ Points / potential airdropNado: Active · Ondo Perps: Active · farm board−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.090%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.086% in total (about -9.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.40 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	91.766	0.0372	pay 0.0047% / 1h	39m 14s	$134K	$106K	3x
Short	Ondo Perps CRCL-USD.P	91.680	0.0050	get 0.0006% / 1h	39m 14s	$1.0M	$5.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Nado. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 NadobpFee Ondo PerpsbpOrdersPrice spread, now −0.094%Rate

Funding earned: −$67.62
Price spread: −0.094% → −0.090%: −$0.38
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$80
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Nado: live order book, 13 min ago; Ondo Perps: 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 Nado live order book, 13 min ago	2.71 bp	7.6 bp −$8	27.5 bp −$275	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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 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	−0.0709%	8h	91.920	+0.168%	$16.8M	$35.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.610	−0.170%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.880	+0.124%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.930	+0.179%	$7.3M	$27.3M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.849	+0.090%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.840	+0.081%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0008%	8h	91.863	+0.106%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0015%	8h	91.860	+0.103%	$104.6M	$391.4M	50x	as long as short
Extended CRCL_24_5-USD	+0.0016%	1h	91.834	+0.074%	$1.2M	$5.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.861	+0.103%	$2K	$25K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0040%	1h	91.861	+0.104%	$973K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.850	+0.092%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.890	+0.135%	$907K	$510K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.773	+0.008%	$68.1M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.840	+0.081%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.838	+0.079%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.Pshort	+0.0050%	1h	91.680	−0.094%	$1.0M	$5.1M	10x
BloFin CRCL-USDT	+0.0059%	8h	91.890	+0.135%	$1.1M	$1.6M	20x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.870	+0.113%	$1.3M	$1.9M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0065%	8h	91.870	+0.113%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0079%	8h	91.880	+0.124%	$22.3M	$61.6M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.864	+0.107%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.810	+0.048%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.920	+0.168%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.800	+0.037%	$915	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.842	+0.083%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.888	+0.133%	$418K	$299K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0132%	8h	91.860	+0.103%	$423	$905	5x	as long as short
Phoenix CRCL	+0.0182%	1h	91.905	+0.152%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0312%	1h	91.866	+0.109%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERPlong	+0.0372%	1h	91.766	long leg	$134K	$106K	3x
edgeX CRCLUSDC	+0.0426%	4h	91.799	+0.036%	$51K	$275K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.290	+0.571%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0731%	1h	91.840	+0.081%	$4K	$768K	10x	as long as short