CRCL

Alert

Funding spread now, next payment 18:00 UTC+0.0040%/8h

next payment, per $10,000+$0.05paid, last 24h+0.027%paid, last 5 days+0.639%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix CRCL	93.950	0.0248	pay 0.0031% / 1h	18m 24s	$28K	$92K	10x
Short	Lighter CRCL	93.897	0.0288	get 0.0036% / 1h	18m 24s	$2.9M	$2.1M	10x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee LighterbpOrdersRate

Funding earned: $8.48
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: $1.48
Break-even: 5.8 days

Slippage unknown: Phoenix: no order-book sample; Lighter: live order book, 5 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.056%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Phoenix no order-book sample	—	—	—	—	—
Sell Lighter live order book, 5 min ago	1.75 bp	1.8 bp −$2	4.8 bp −$48	40.9 bp −$4,090	doesn't fit

Phoenix: 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 33 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Gate CRCL_USDT	0.0000%	8h	$7.1M	$26.4M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	$1.0M	$45K	10x	as long as short
Vest CRCL-USD-PERP	+0.0029%	1h	—	$45K	25x	as long as short
Lighter RH CRCL	+0.0032%	1h	$794K	$2.7M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	$70.7M	$40.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	$353K	$1.0M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	$1.1M	$5.7M	10x	as long as short
Bybit CRCLUSDT	+0.0051%	8h	$15.0M	$24.7M	50x	as long as short
QFEX CRCL-USD	+0.0067%	1h	$1.3M	$2.6M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Paradex CRCL-USD-PERP	+0.0092%	8h	$713	$428	5x	as long as short
Pacifica CRCL	+0.0100%	1h	$75K	$95K	10x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	$69K	$5K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	$935	$3K	10x	as long as short
Variational Omni CRCL	+0.0103%	8h	$2.5M	$3.2M	—	as long as short
Aevo CRCL-PERP	+0.0104%	1h	$4	—	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0120%	1h	$940K	$742K	10x	as long as short
Aster CRCLUSDT	+0.0140%	8h	$1.1M	$4.6M	20x	as long as short
Binance CRCLUSDT	+0.0156%	8h	$106.8M	$369.8M	50x	as long as short
Extended CRCL_24_5-USD	+0.0160%	1h	$1.1M	$3.5M	10x	as long as short
RISEx CRCL/USDC	+0.0163%	1h	$401K	$316K	10x	as long as short
KuCoin CRCLUSDTM	+0.0215%	8h	$2.9M	$1.6M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0247%	8h	$22.6M	$58.0M	50x	as long as short
Phoenix CRCLlong	+0.0248%	1h	$28K	$92K	10x
BloFin CRCL-USDT	+0.0276%	8h	$1.1M	$565K	20x	as long as short
Lighter CRCLshort	+0.0288%	1h	$2.9M	$2.1M	10x
Nado CRCL-PERP	+0.0332%	1h	$131K	$67K	3x	as long as short
Aftermath Perps CRCLUSD	+0.0355%	1h	$2K	$15K	5x	as long as short
Bitget CRCLUSDT	+0.0363%	8h	$16.8M	$33.8M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	$5K	$42K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0603%	1h	$4K	$802K	10x	as long as short
Arcus CRCL-USD	+0.0651%	1h	$101K	$256K	10x	as long as short
edgeX CRCLUSDC	+0.0652%	4h	$24K	$266K	10x	as long as short