CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0288%/8h= −31.5% APRnext payment −$0.36 per $10,000 · paid last 24h −0.063%

Price spread now: QFEX against Nado+0.029%7-day average +0.005% · 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−$28as in the Price arb table

costs, in and out, $10k−$300.301% of the position

Long on Nado Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.131%−$13 on $10k

Price spread, last 4 days (all we have)−0.071%−$7 · spread now +0.029%, 7d avg +0.005%

Together, before fees−0.202%+ Points / potential airdropNado: Active · farm board−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.023% dearer against Nado than usual: you sell high and buy low (spread +0.029% now, against its 7-day average of +0.005%): +$2 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 3 days (−0.131% in total) that is about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado CRCL-PERP	91.853	0.0348	pay 0.0044% / 1h	4m 57s	$134K	$108K	3x
Short	QFEX CRCL-USD	91.880	0.0060	get 0.0008% / 1h	4m 57s	$1.3M	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$60.44
Price spread: +0.029% → +0.005%: $2.34
Slippage, 4 orders: −$13.1
Fee Nado: 3.5 bp × 2 orders: −$7
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$88.2
Costs to cover: 0.301%
Break-even: never at this rate

Slippage from Nado: live order book, 47 min ago; QFEX: live order book, 2 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, 47 min ago	2.71 bp	7.6 bp −$8	27.5 bp −$275	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	2.17 bp	7.2 bp −$7	8.1 bp −$81	15.4 bp −$1,541	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	−0.0675%	8h	91.940	+0.094%	$16.6M	$35.8M	25x	as long as short
Vest CRCL-USD-PERP	−0.0062%	1h	91.650	−0.221%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.920	+0.072%	$14.8M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.970	+0.127%	$7.4M	$27.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.949	+0.104%	$2.5M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.890	+0.040%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0014%	8h	91.933	+0.087%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0024%	8h	91.920	+0.072%	$104.7M	$392.7M	50x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	91.895	+0.045%	$1.2M	$5.6M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.925	+0.078%	$974K	$2.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0039%	1h	91.866	+0.013%	$2K	$26K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.850	−0.004%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.770	−0.091%	$914K	$522K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.833	−0.022%	$68.1M	$42.3M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.880	+0.029%	$386K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.888	+0.038%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.890	+0.040%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USDshort	+0.0060%	1h	91.880	+0.029%	$1.3M	$1.9M	10x
Paradex CRCL-USD-PERP	+0.0076%	8h	91.899	+0.049%	$423	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0085%	8h	91.859	+0.006%	$70K	$1.1M	10x	as long as short
BloFin CRCL-USDT	+0.0096%	8h	91.920	+0.072%	$1.1M	$1.6M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0099%	8h	91.930	+0.083%	$22.4M	$61.9M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.900	+0.051%	$136K	$160K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.890	+0.040%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.800	−0.058%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.900	+0.051%	$916	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.890	+0.039%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.890	+0.040%	$418K	$299K	10x	as long as short
Phoenix CRCL	+0.0182%	1h	91.893	+0.043%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0248%	1h	91.921	+0.074%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERPlong	+0.0348%	1h	91.853	long leg	$134K	$108K	3x
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.552%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0512%	1h	91.900	+0.051%	$4K	$768K	10x	as long as short
edgeX CRCLUSDC	+0.0757%	4h	91.849	−0.005%	$51K	$276K	10x	as long as short