Funding you earn now, next payment 10:00 UTC−0.0147%/8h= −16.1% APRnext payment −$0.18 per $10,000 · paid last 24h −0.050%
Price spread now: Ondo Perps against Phoenix+1.175%108s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.182%−$18 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories
The price spread pays, funding is against you. Ondo Perps is 1.175% dearer against Phoenix than usual: you sell high and buy low (spread +1.175% now, against zero (this spread has no 7-day history yet)): +$117 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 27 days. The two prices were read 108 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 | 94.470 | 0.0197 | pay 0.0025% / 1h | 55m 33s | $28K | $94K | 10x |
| Short | Ondo Perps CRCL-USD.P | 95.580 | 0.0050 | get 0.0006% / 1h | 55m 33s | $1.0M | $4.3M | 10x |
Phoenix CRCL
Ondo Perps CRCL-USD.PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Ondo Perps against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$30.87
- Price spread: +1.175% → 0.000%
- $117.5
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Net
- $74.63
- Costs to cover
- 0.120%
- Break-even
- from the start
Slippage unknown: Phoenix: no order-book sample; Ondo Perps: no order-book sample. 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 Ondo Perps no order-book sample | — | — | — | — | — |
Phoenix and Ondo Perps: 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 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International CRCL-PERP-INTX | −0.0024% | 1h | 95.700 | +1.302% | $873K | $807K | 10x | as long as short |
| Bybit CRCLUSDT | 0.0000% | 8h | 95.720 | +1.323% | $15.7M | $28.4M | 50x | as long as short |
| RISEx CRCL/USDC | 0.0000% | 1h | 95.656 | +1.256% | $425K | $228K | 10x | as long as short |
| Bitget CRCLUSDT | 0.0000% | 8h | 95.680 | +1.281% | $18.9M | $38.2M | 25x | as long as short |
| Phemex CRCLUSDT | 0.0000% | 4h | 95.760 | +1.366% | $1.1M | $47K | 10x | as long as short |
| QFEX CRCL-USD | +0.0014% | 1h | 95.600 | +1.196% | $1.4M | $1.7M | 10x | as long as short |
| Lighter RH CRCL | +0.0032% | 1h | 95.799 | +1.407% | $1.0M | $2.6M | 10x | as long as short |
| Injective CRCL/USDC PERP | +0.0033% | 1h | 95.630 | +1.228% | $39K | $172K | 30x | as long as short |
| Vest CRCL-USD-PERP | +0.0034% | 1h | 95.610 | +1.207% | — | $30K | 25x | as long as short |
| Aftermath Perps CRCLUSD | +0.0034% | 1h | 94.479 | +0.009% | $2K | $29K | 5x | as long as short |
Coinbase International CRCL-PERP-INTX
Bybit CRCLUSDT
RISEx CRCL/USDC
Bitget CRCLUSDT
Phemex CRCLUSDT
QFEX CRCL-USD
Lighter RH CRCL
Injective CRCL/USDC PERP
Vest CRCL-USD-PERP
Aftermath Perps CRCLUSDShow all 34 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate CRCL_USDT | +0.0048% | 8h | 95.660 | +1.260% | $7.8M | $25.8M | 50x | as long as short |
| Ondo Perps CRCL-USD.Pshort | +0.0050% | 1h | 95.580 | +1.175% | $1.0M | $4.3M | 10x | |
| Arcus CRCL-USD | +0.0057% | 1h | 95.610 | +1.207% | $96K | $231K | 10x | as long as short |
| tradeXYZ xyz:CRCL | +0.0090% | 1h | 95.640 | +1.238% | $69.6M | $44.3M | 10x | as long as short |
| Pacifica CRCL | +0.0100% | 1h | 95.598 | +1.194% | $142K | $149K | 10x | as long as short |
| KuCoin CRCLUSDTM | +0.0100% | 8h | 95.630 | +1.228% | $2.5M | $1.7M | 20x | as long as short |
| ApeX Omni CRCLUSDT | +0.0100% | 1h | 95.830 | +1.440% | $99K | $26K | 50x | as long as short |
| Orderly PERP_CRCL_USDC_mythos | +0.0100% | 8h | 95.770 | +1.376% | $755 | $2K | 10x | as long as short |
| Paradex CRCL-USD-PERP | +0.0100% | 8h | 95.645 | +1.243% | $440 | $477 | 5x | as long as short |
| Aevo CRCL-PERP | +0.0104% | 1h | 95.823 | +1.432% | $4 | — | 10x | as long as short |
| Variational Omni CRCL | +0.0169% | 8h | 95.760 | +1.365% | $2.7M | $3.3M | — | as long as short |
| Phoenix CRCLlong | +0.0197% | 1h | 94.470 | long leg | $28K | $94K | 10x | |
| OKX CRCL-USDT-SWAP | +0.0223% | 8h | 95.700 | +1.302% | $23.4M | $65.9M | 50x | as long as short |
| Extended CRCL_24_5-USD | +0.0264% | 1h | 95.616 | +1.213% | $1.1M | $4.0M | 10x | as long as short |
| Binance CRCLUSDT | +0.0267% | 8h | 95.672 | +1.272% | $110.8M | $387.6M | 50x | as long as short |
| Aster CRCLUSDT | +0.0285% | 8h | 95.720 | +1.323% | $1.2M | $4.7M | 20x | as long as short |
| Nado CRCL-PERP | +0.0295% | 1h | 95.769 | +1.375% | $153K | $91K | 3x | as long as short |
| GRVT CRCL_USDT_Perp | +0.0328% | 8h | 96.099 | +1.725% | $62K | $1.0M | 10x | as long as short |
| BloFin CRCL-USDT | +0.0370% | 8h | 96.030 | +1.651% | $1.2M | $1.8M | 20x | as long as short |
| Polymarket Perps CRCL-USD | +0.0512% | 1h | 95.627 | +1.225% | $306K | $1.0M | 10x | as long as short |
| edgeX CRCLUSDC | +0.0551% | 4h | 95.621 | +1.218% | $55K | $277K | 10x | as long as short |
| Lighter CRCL | +0.0552% | 1h | 95.734 | +1.338% | $3.3M | $2.4M | 10x | as long as short |
| Deribit CRCL_USDC-PERPETUAL | +0.0691% | 1h | 95.780 | +1.387% | $5K | $415K | 10x | as long as short |
| SoDEX CRCL-USD | +0.6470% | 1h | 95.688 | +1.289% | $48K | $3K | 10x | as long as short |
Gate CRCL_USDT
Arcus CRCL-USD
tradeXYZ xyz:CRCL
Pacifica CRCL
KuCoin CRCLUSDTM
ApeX Omni CRCLUSDT
Orderly PERP_CRCL_USDC_mythos
Paradex CRCL-USD-PERP
Aevo CRCL-PERP
Variational Omni CRCL
OKX CRCL-USDT-SWAP
Extended CRCL_24_5-USD
Binance CRCLUSDT
Aster CRCLUSDT
Nado CRCL-PERP
GRVT CRCL_USDT_Perp
BloFin CRCL-USDT
Polymarket Perps CRCL-USD
edgeX CRCLUSDC
Lighter CRCL
Deribit CRCL_USDC-PERPETUAL
SoDEX CRCL-USD