CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0185%/8h= +20.3% APRnext payment +$0.23 per $10,000 · paid last 24h +0.017%

Price spread now: Nado against Phoenix−0.173%57s7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

Funding pays, the price is against you. Nado is 0.173% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.173% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 3.1 days of funding at the current rate (+$6 a day). The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix CRCL	91.905	0.0182	pay 0.0023% / 1h	40m 32s	$27K	$82K	10x
Short	Nado CRCL-PERP	91.746	0.0367	get 0.0046% / 1h	40m 32s	$134K	$106K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Phoenix. 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 PhoenixbpFee NadobpOrdersPrice spread, now −0.173%Rate

Funding earned: $38.85
Price spread: −0.173% → 0.000%: −$17.28
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $7.56
Costs to cover: 0.140%
Break-even: 5.6 days

Slippage unknown: Phoenix: no order-book sample; Nado: live order book, 12 min ago. 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 Phoenix no order-book sample	—	—	—	—	—
Sell Nado live order book, 12 min ago	2.71 bp	8.1 bp −$8	26.1 bp −$261	doesn't fit	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 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	−0.0707%	8h	91.930	+0.027%	$16.8M	$35.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.610	−0.321%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.870	−0.038%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.930	+0.027%	$7.3M	$27.3M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.849	−0.061%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.820	−0.092%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0005%	8h	91.826	−0.086%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0013%	8h	91.890	−0.016%	$104.7M	$391.2M	50x	as long as short
Extended CRCL_24_5-USD	+0.0016%	1h	91.844	−0.066%	$1.2M	$5.7M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.837	−0.074%	$973K	$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	91.867	−0.041%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.850	−0.060%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.890	−0.016%	$907K	$510K	10x	as long as short
BloFin CRCL-USDT	+0.0049%	8h	91.810	−0.103%	$1.1M	$1.6M	20x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.782	−0.134%	$68.2M	$41.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.840	−0.071%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.820	−0.092%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.680	−0.245%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.860	−0.049%	$1.3M	$1.9M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0072%	8h	91.949	+0.048%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0077%	8h	91.910	+0.005%	$22.3M	$61.6M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.886	−0.021%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.810	−0.103%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.920	+0.016%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.760	−0.158%	$915	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.798	−0.117%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.878	−0.029%	$418K	$299K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0129%	8h	91.815	−0.098%	$422	$905	5x	as long as short
Phoenix CRCLlong	+0.0182%	1h	91.905	long leg	$27K	$82K	10x
Lighter CRCL	+0.0296%	1h	91.841	−0.070%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERPshort	+0.0367%	1h	91.746	−0.173%	$134K	$106K	3x
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.495%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0501%	4h	91.963	+0.064%	$51K	$275K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0513%	1h	91.780	−0.136%	$4K	$768K	10x	as long as short