CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0235%/8h= +25.7% APRnext payment +$0.29 per $10,000 · paid last 24h +0.094%

Price spread now: Deribit against QFEX−0.033%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$320.322% of the position

Long on QFEX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.178%+$18 on $10k

Price spread, last 4 days (all we have)−0.004%$0 · spread now −0.033%, 7d avg +0.001%

Together, before fees+0.174%+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.034% cheaper against QFEX than usual: you would sell low and buy high (spread −0.033% now, against its 7-day average of +0.001%). If the spread goes back, that is −$3 on $10k: about 11 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRCL-USD	91.820	0.0060	pay 0.0008% / 1h	42m 18s	$1.3M	$1.9M	10x
Short	Deribit CRCL_USDC-PERPETUAL	91.790	0.0295	get 0.0037% / 1h	42m 18s	$4K	$768K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against QFEX. 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 QFEXbpFee DeribitbpOrdersPrice spread, now −0.033%Rate

Funding earned: $49.3
Price spread: −0.033% → +0.001%: −$3.37
Slippage, 4 orders: −$15.16
Fee QFEX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $13.77
Costs to cover: 0.322%
Break-even: 5.0 days

Slippage from QFEX: live order book, 10 min ago; Deribit: live order book, 12 min ago.

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 QFEX live order book, 10 min ago	2.17 bp	7.2 bp −$7	8.1 bp −$81	15.7 bp −$1,569	doesn't fit
Sell Deribit live order book, 12 min ago	0.54 bp	10.6 bp −$11	14.3 bp −$143	doesn't fit	doesn't fit

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	−0.0697%	8h	91.840	+0.022%	$16.7M	$35.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.600	−0.240%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.820	0.000%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.810	−0.011%	$7.3M	$27.3M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.979	+0.173%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.810	−0.011%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0009%	8h	91.809	−0.012%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0014%	8h	91.765	−0.060%	$104.5M	$391.3M	50x	as long as short
Extended CRCL_24_5-USD	+0.0016%	1h	91.743	−0.083%	$1.2M	$5.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.896	+0.082%	$2K	$25K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus CRCL-USD	+0.0040%	1h	91.920	+0.109%	$93K	$272K	10x	as long as short
Lighter RH CRCL	+0.0048%	1h	91.819	−0.001%	$973K	$2.9M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.890	+0.076%	$907K	$510K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.730	−0.098%	$68.1M	$41.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.778	−0.046%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.790	−0.033%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.900	+0.087%	$1.0M	$5.2M	10x	as long as short
BloFin CRCL-USDT	+0.0059%	8h	92.050	+0.250%	$1.1M	$1.6M	20x	as long as short
QFEX CRCL-USDlong	+0.0060%	1h	91.820	long leg	$1.3M	$1.9M	10x
GRVT CRCL_USDT_Perp	+0.0072%	8h	91.949	+0.141%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0074%	8h	91.830	+0.011%	$22.3M	$61.5M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.807	−0.014%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.780	−0.044%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.900	+0.087%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.760	−0.065%	$915	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.785	−0.038%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.810	−0.011%	$417K	$299K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0128%	8h	91.816	−0.005%	$422	$905	5x	as long as short
Phoenix CRCL	+0.0182%	1h	91.939	+0.130%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0280%	1h	91.835	+0.016%	$3.0M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUALshort	+0.0295%	1h	91.790	−0.033%	$4K	$768K	10x
Nado CRCL-PERP	+0.0370%	1h	91.735	−0.092%	$134K	$106K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.588%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0529%	4h	92.039	+0.238%	$51K	$277K	10x	as long as short