CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h −0.004%

Price spread now: Lighter RH against QFEX−0.033%7-day average +0.048% · 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−$27as in the Price arb table

costs, in and out, $10k−$190.190% of the position

Long on QFEX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.022%+$2 on $10k

Price spread, last 7 days+0.035%+$4 · spread now −0.033%, 7d avg +0.048%

Together, before fees+0.057%+ Points / potential airdropLighter RH: Points live · farm board+$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter RH is 0.081% cheaper against QFEX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRCL-USD	92.150	0.0028	pay 0.0004% / 1h	11m 00s	$1.3M	$2.0M	10x
Short	Lighter RH CRCL	92.120	0.0032	get 0.0004% / 1h	11m 00s	$976K	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.033%Rate

Funding earned: $0.77
Price spread: −0.033% → +0.048%: −$8.1
Slippage, 4 orders: −$9.05
Fee QFEX: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$26.38
Costs to cover: 0.190%
Break-even: 245.9 days

Slippage from QFEX: live order book, 6 min ago; Lighter RH: live order book, 2 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, 6 min ago	1.63 bp	6.6 bp −$7	7.4 bp −$74	16.8 bp −$1,675	doesn't fit
Sell Lighter RH live order book, 2 min ago	2.77 bp	2.9 bp −$3	6.8 bp −$68	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	−0.0925%	8h	92.150	0.000%	$16.6M	$35.2M	25x	as long as short
Vest CRCL-USD-PERP	−0.0069%	1h	91.860	−0.315%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	92.033	−0.127%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	92.084	−0.071%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	92.100	−0.054%	$104.9M	$390.1M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.100	−0.054%	$14.9M	$26.4M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.155	+0.005%	$419K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.150	0.000%	$7.3M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.128	−0.024%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	92.052	−0.106%	$64K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	92.020	−0.141%	$1.0M	$49K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.990	−0.174%	$908K	$491K	10x	as long as short
QFEX CRCL-USDlong	+0.0028%	1h	92.150	long leg	$1.3M	$2.0M	10x
Lighter RH CRCLshort	+0.0032%	1h	92.120	−0.033%	$976K	$2.9M	10x
OKX CRCL-USDT-SWAP	+0.0035%	8h	92.130	−0.022%	$22.3M	$61.5M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0036%	1h	91.997	−0.166%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.010	−0.152%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.035	−0.125%	$68.6M	$41.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.069	−0.088%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.071	−0.086%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.000	−0.163%	$1.0M	$5.2M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.120	−0.033%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.040	−0.119%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.990	−0.174%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.070	−0.087%	$918	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.066	−0.091%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0111%	8h	92.118	−0.034%	$424	$905	5x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	92.100	−0.054%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	92.044	−0.115%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0216%	1h	92.116	−0.037%	$3.0M	$2.4M	10x	as long as short
edgeX CRCLUSDC	+0.0223%	4h	91.994	−0.169%	$51K	$277K	10x	as long as short
Nado CRCL-PERP	+0.0309%	1h	92.045	−0.114%	$131K	$104K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.560	+0.445%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0728%	1h	92.090	−0.065%	$4K	$767K	10x	as long as short