CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0198%/8h= −21.6% APRnext payment −$0.25 per $10,000 · paid last 24h −0.046%

Price spread now: Pacifica against Nado+0.117%50s7-day average −0.002% · 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—prices read too far apart to compare

costs, in and out, $10k−$590.587% of the position

Long on Nado Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.044%−$4 on $10k

Price spread, last 4 days (all we have)−0.175%−$18 · spread now +0.117%, 7d avg −0.002%

Together, before fees−0.219%+ Points / potential airdropNado: Active · Pacifica: Active · farm board−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.119% dearer against Nado than usual: you sell high and buy low (spread +0.117% now, against its 7-day average of −0.002%): +$12 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.0 days. At the pace of the last 3 days (−0.044% in total) that is about 9.0 days. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.044% in total (about -4.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.25 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	91.583	0.0298	pay 0.0037% / 1h	37m 42s	$130K	$104K	3x
Short	Pacifica CRCL	91.690	0.0100	get 0.0013% / 1h	37m 42s	$134K	$159K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Nado. 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 NadobpFee PacificabpOrdersPrice spread, now +0.117%Rate

Funding earned: −$41.49
Price spread: +0.117% → −0.002%: $11.88
Slippage, 4 orders: −$43.74
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$88.36
Costs to cover: 0.587%
Break-even: never at this rate

Slippage from Nado: live order book, 20 min ago; Pacifica: live order book, 1 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, 20 min ago	3.80 bp	11.6 bp −$12	28.8 bp −$288	doesn't fit	doesn't fit
Sell Pacifica live order book, 1 min ago	8.19 bp	20.4 bp −$20	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	−0.0994%	8h	91.800	+0.237%	$16.3M	$35.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.380	−0.222%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.771	+0.205%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.697	+0.125%	$1.1M	$5.6M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.720	+0.150%	$104.6M	$388.4M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.740	+0.172%	$14.9M	$26.3M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.710	+0.139%	$417K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.770	+0.204%	$7.2M	$27.0M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.678	+0.104%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.698	+0.125%	$65K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.670	+0.095%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0015%	8h	91.750	+0.182%	$21.9M	$60.8M	50x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.600	+0.019%	$904K	$489K	10x	as long as short
edgeX CRCLUSDC	+0.0023%	4h	91.866	+0.309%	$51K	$275K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0028%	1h	91.659	+0.083%	$2K	$24K	5x	as long as short
QFEX CRCL-USD	+0.0028%	1h	91.690	+0.117%	$1.3M	$2.0M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.753	+0.186%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.690	+0.117%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.667	+0.092%	$68.3M	$41.6M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.619	+0.039%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.600	+0.019%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.670	+0.095%	$992K	$5.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0088%	8h	91.712	+0.141%	$422	$905	5x	as long as short
Pacifica CRCLshort	+0.0100%	1h	91.690	+0.117%	$134K	$159K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	91.720	+0.150%	$2.7M	$2.0M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.630	+0.051%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.660	+0.084%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.641	+0.064%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.630	+0.051%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	91.674	+0.099%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0176%	1h	91.745	+0.177%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERPlong	+0.0298%	1h	91.583	long leg	$130K	$104K	3x
Injective CRCL/USDC PERP	+0.0440%	1h	92.190	+0.663%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0732%	1h	91.740	+0.172%	$4K	$767K	10x	as long as short