CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0192%/8h= +21.1% APRnext payment +$0.24 per $10,000 · paid last 24h +0.046%

Price spread now: Nado against Pacifica−0.019%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

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

Long on Pacifica Short on Nado

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)+0.077%+$8 · spread now −0.019%, 7d avg +0.002%

Together, before fees+0.121%+ Points / potential airdropPacifica: Active · Nado: Active · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.020% cheaper against Pacifica than usual: you would sell low and buy high (spread −0.019% now, against its 7-day average of +0.002%). If the spread goes back, that is −$2 on $10k: about 9 hours of funding at the current rate (+$6 a day). At the pace of the last 3 days (+0.044% in total) that is about 37 hours.

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 +$0.24 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	Pacifica CRCL	91.690	0.0100	pay 0.0013% / 1h	37m 26s	$134K	$159K	10x
Short	Nado CRCL-PERP	91.673	0.0292	get 0.0037% / 1h	37m 26s	$130K	$104K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Pacifica. 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 PacificabpFee NadobpOrdersPrice spread, now −0.019%Rate

Funding earned: $40.41
Price spread: −0.019% → +0.002%: −$2.05
Slippage, 4 orders: −$43.74
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$20.38
Costs to cover: 0.587%
Break-even: 10.5 days

Slippage from Pacifica: live order book, 1 min ago; Nado: live order book, 20 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 Pacifica live order book, 1 min ago	8.19 bp	19.1 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 20 min ago	3.80 bp	7.6 bp −$8	27.2 bp −$272	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	91.750	+0.065%	$16.3M	$35.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.410	−0.305%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.770	+0.087%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.697	+0.008%	$1.1M	$5.6M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.689	−0.001%	$104.6M	$388.4M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.660	−0.033%	$14.9M	$26.3M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.710	+0.022%	$417K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.770	+0.087%	$7.2M	$27.0M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.678	−0.013%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.698	+0.008%	$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	−0.022%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0015%	8h	91.660	−0.033%	$22.0M	$60.7M	50x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.600	−0.098%	$904K	$489K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0028%	1h	91.671	−0.021%	$2K	$24K	5x	as long as short
QFEX CRCL-USD	+0.0028%	1h	91.690	0.000%	$1.3M	$2.0M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.753	+0.069%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.690	0.000%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.643	−0.051%	$68.3M	$41.6M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.634	−0.061%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.600	−0.098%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.670	−0.022%	$992K	$5.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0088%	8h	91.712	+0.024%	$422	$905	5x	as long as short
Pacifica CRCLlong	+0.0100%	1h	91.690	long leg	$134K	$159K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	91.680	−0.011%	$2.7M	$2.0M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.510	−0.196%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.660	−0.033%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.641	−0.053%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.630	−0.065%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	91.525	−0.180%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0176%	1h	91.745	+0.060%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERPshort	+0.0292%	1h	91.673	−0.019%	$130K	$104K	3x
Injective CRCL/USDC PERP	+0.0440%	1h	92.190	+0.545%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0636%	4h	91.626	−0.070%	$51K	$276K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0732%	1h	91.740	+0.055%	$4K	$767K	10x	as long as short