CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0156%/8h= −17.1% APRnext payment −$0.20 per $10,000 · paid last 24h −0.048%

Price spread now: QFEX against Phoenix−0.326%7-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 QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and QFEX is 0.326% cheaper against Phoenix than usual: you would sell low and buy high (−$33 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix CRCL	91.689	0.0227	pay 0.0028% / 1h	34m 41s	$27K	$74K	10x
Short	QFEX CRCL-USD	91.390	0.0071	get 0.0009% / 1h	34m 41s	$1.3M	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.326%Rate

Funding earned: −$32.79
Price spread: −0.326% → 0.000%: −$32.61
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$82.4
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; QFEX: live order book, 2 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 QFEX live order book, 2 min ago	1.64 bp	6.6 bp −$7	7.4 bp −$74	15.4 bp −$1,543	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	−0.0244%	8h	91.480	−0.228%	$17.5M	$36.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0078%	1h	91.140	−0.599%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.450	−0.261%	$7.8M	$27.3M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.390	−0.326%	$1.0M	$48K	10x	as long as short
Bybit CRCLUSDT	+0.0025%	8h	91.360	−0.359%	$14.8M	$26.5M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.385	−0.332%	$981K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	91.519	−0.185%	$2K	$28K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.550	−0.152%	$97K	$292K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.380	−0.337%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.400	−0.315%	$1.1M	$4.8M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USDshort	+0.0071%	1h	91.390	−0.326%	$1.3M	$1.8M	10x
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.400	−0.315%	$890K	$403K	10x	as long as short
Variational Omni CRCL	+0.0097%	8h	91.457	−0.253%	$2.4M	$3.2M	—	as long as short
Pacifica CRCL	+0.0100%	1h	91.397	−0.319%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.420	−0.293%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.460	−0.250%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.340	−0.381%	$911	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.386	−0.330%	$4	—	10x	as long as short
tradeXYZ xyz:CRCL	+0.0116%	1h	91.313	−0.410%	$67.6M	$43.9M	10x	as long as short
edgeX CRCLUSDC	+0.0124%	4h	91.531	−0.172%	$52K	$275K	10x	as long as short
Polymarket Perps CRCL-USD	+0.0157%	1h	91.350	−0.370%	$379K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0165%	8h	91.357	−0.362%	$420	$905	5x	as long as short
Aster CRCLUSDT	+0.0167%	8h	91.382	−0.334%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0183%	8h	91.370	−0.348%	$105.0M	$389.6M	50x	as long as short
Extended CRCL_24_5-USD	+0.0184%	1h	91.385	−0.332%	$1.0M	$5.0M	10x	as long as short
Phoenix CRCLlong	+0.0227%	1h	91.689	long leg	$27K	$74K	10x
GRVT CRCL_USDT_Perp	+0.0247%	8h	91.730	+0.045%	$61K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0258%	8h	91.410	−0.304%	$22.2M	$61.7M	50x	as long as short
Lighter CRCL	+0.0264%	1h	91.393	−0.323%	$2.9M	$2.4M	10x	as long as short
BloFin CRCL-USDT	+0.0302%	8h	91.370	−0.348%	$1.1M	$1.7M	20x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0407%	1h	91.350	−0.370%	$5K	$769K	10x	as long as short
Nado CRCL-PERP	+0.0425%	1h	91.365	−0.353%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.010	+0.350%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.392	−0.324%	$410K	$272K	10x	as long as short