Funding you earn now, next payment 02:00 UTC−0.0258%/8h= −28.2% APRnext payment −$0.32 per $10,000 · paid last 24h −0.041%
Price spread now: Vest against Phoenix−0.440%58s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Vest is 0.440% cheaper against Phoenix than usual: you would sell low and buy high (−$44 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 58 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 | 91.382 | 0.0183 | pay 0.0023% / 1h | 49m 37s | $27K | $84K | 10x |
| Short | Vest CRCL-USD-PERP | 90.980 | −0.0075 | pay 0.0009% / 1h | 49m 37s | — | $38K | 25x |
Phoenix CRCL
Vest CRCL-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Vest 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
- −$54.1
- Price spread: −0.440% → 0.000%
- −$43.99
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Vest: 1 bp × 2 orders
- −$2
- Net
- −$107.09
- Costs to cover
- 0.090%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Vest: 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 Vest no order-book sample | — | — | — | — | — |
Phoenix and Vest: 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: 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 | −0.1192% | 8h | 91.190 | −0.210% | $15.6M | $34.5M | 25x | as long as short |
| Vest CRCL-USD-PERPshort | −0.0075% | 1h | 90.980 | −0.440% | — | $38K | 25x | |
| Coinbase International CRCL-PERP-INTX | −0.0016% | 1h | 91.160 | −0.243% | $900K | $539K | 10x | as long as short |
| Bybit CRCLUSDT | 0.0000% | 8h | 91.120 | −0.287% | $14.9M | $25.7M | 50x | as long as short |
| RISEx CRCL/USDC | 0.0000% | 1h | 91.110 | −0.298% | $416K | $297K | 10x | as long as short |
| Gate CRCL_USDT | 0.0000% | 8h | 91.150 | −0.254% | $7.0M | $26.4M | 50x | as long as short |
| Variational Omni CRCL | 0.0000% | 8h | 91.307 | −0.082% | $2.4M | $3.2M | — | as long as short |
| GRVT CRCL_USDT_Perp | 0.0000% | 8h | 91.340 | −0.046% | $66K | $1.1M | 10x | as long as short |
| Phemex CRCLUSDT | 0.0000% | 4h | 91.170 | −0.232% | $1.0M | $49K | 10x | as long as short |
| Binance CRCLUSDT | +0.0014% | 8h | 91.102 | −0.307% | $103.5M | $383.6M | 50x | as long as short |
Bitget CRCLUSDT
Coinbase International CRCL-PERP-INTX
Bybit CRCLUSDT
RISEx CRCL/USDC
Gate CRCL_USDT
Variational Omni CRCL
GRVT CRCL_USDT_Perp
Phemex CRCLUSDT
Binance CRCLUSDTShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended CRCL_24_5-USD | +0.0016% | 1h | 91.093 | −0.316% | $1.1M | $5.7M | 10x | as long as short |
| Aster CRCLUSDT | +0.0021% | 8h | 91.147 | −0.257% | $1.1M | $4.9M | 20x | as long as short |
| Aftermath Perps CRCLUSD | +0.0023% | 1h | 91.468 | +0.094% | $2K | $23K | 5x | as long as short |
| QFEX CRCL-USD | +0.0023% | 1h | 91.100 | −0.309% | $1.3M | $2.2M | 10x | as long as short |
| OKX CRCL-USDT-SWAP | +0.0027% | 8h | 91.160 | −0.243% | $21.4M | $58.9M | 50x | as long as short |
| Lighter RH CRCL | +0.0032% | 1h | 91.156 | −0.247% | $969K | $2.9M | 10x | as long as short |
| Arcus CRCL-USD | +0.0040% | 1h | 91.320 | −0.068% | $93K | $271K | 10x | as long as short |
| tradeXYZ xyz:CRCL | +0.0050% | 1h | 91.130 | −0.276% | $68.2M | $41.1M | 10x | as long as short |
| Polymarket Perps CRCL-USD | +0.0050% | 1h | 91.110 | −0.298% | $353K | $1.1M | 10x | as long as short |
| SoDEX CRCL-USD | +0.0050% | 1h | 91.140 | −0.265% | $46K | $3K | 10x | as long as short |
| Ondo Perps CRCL-USD.P | +0.0050% | 1h | 91.160 | −0.243% | $973K | $5.1M | 10x | as long as short |
| edgeX CRCLUSDC | +0.0055% | 4h | 91.376 | −0.006% | $23K | $267K | 10x | as long as short |
| Paradex CRCL-USD-PERP | +0.0070% | 8h | 91.133 | −0.273% | $747 | $740 | 5x | as long as short |
| Pacifica CRCL | +0.0100% | 1h | 91.118 | −0.289% | $132K | $157K | 10x | as long as short |
| KuCoin CRCLUSDTM | +0.0100% | 8h | 91.200 | −0.199% | $2.8M | $1.9M | 20x | as long as short |
| ApeX Omni CRCLUSDT | +0.0100% | 1h | 91.500 | +0.129% | $67K | $4K | 50x | as long as short |
| Orderly PERP_CRCL_USDC_mythos | +0.0100% | 8h | 91.140 | −0.265% | $909 | $2K | 10x | as long as short |
| Aevo CRCL-PERP | +0.0104% | 1h | 91.133 | −0.272% | $4 | — | 10x | as long as short |
| Phoenix CRCLlong | +0.0183% | 1h | 91.382 | long leg | $27K | $84K | 10x | |
| Deribit CRCL_USDC-PERPETUAL | +0.0189% | 1h | 91.180 | −0.221% | $4K | $767K | 10x | as long as short |
| Nado CRCL-PERP | +0.0205% | 1h | 91.164 | −0.238% | $130K | $103K | 3x | as long as short |
| Lighter CRCL | +0.0280% | 1h | 91.170 | −0.232% | $2.9M | $2.4M | 10x | as long as short |
| Injective CRCL/USDC PERP | +0.0440% | 1h | 91.900 | +0.567% | $5K | $19K | 30x | as long as short |
Extended CRCL_24_5-USD
Aster CRCLUSDT
Aftermath Perps CRCLUSD
QFEX CRCL-USD
OKX CRCL-USDT-SWAP
Lighter RH CRCL
Arcus CRCL-USD
tradeXYZ xyz:CRCL
Polymarket Perps CRCL-USD
SoDEX CRCL-USD
Ondo Perps CRCL-USD.P
edgeX CRCLUSDC
Paradex CRCL-USD-PERP
Pacifica CRCL
KuCoin CRCLUSDTM
ApeX Omni CRCLUSDT
Orderly PERP_CRCL_USDC_mythos
Aevo CRCL-PERP
Deribit CRCL_USDC-PERPETUAL
Nado CRCL-PERP
Lighter CRCL
Injective CRCL/USDC PERP