CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0689%/8h= +75.5% APRnext payment +$0.86 per $10,000 · paid last 24h +0.029%

Price spread now: Deribit against Arcus+0.087%7-day average +0.048% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$390.390% of the position

Long on Arcus Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.086%+$9 on $10k

Price spread, last 4 days (all we have)−0.054%−$5 · spread now +0.087%, 7d avg +0.048%

Together, before fees+0.032%+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Deribit is 0.039% dearer against Arcus than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.048%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.086% in total (about 8.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.86 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus CRCL-USD	91.870	0.0040	pay 0.0005% / 1h	16m 51s	$93K	$272K	10x
Short	Deribit CRCL_USDC-PERPETUAL	91.950	0.0730	get 0.0091% / 1h	16m 51s	$4K	$768K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Arcus. 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 ArcusbpFee DeribitbpOrdersPrice spread, now +0.087%Rate

Funding earned: $144.79
Price spread: +0.087% → +0.048%: $3.88
Slippage, 4 orders: −$27.47
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $109.7
Costs to cover: 0.390%
Break-even: 1.7 days

Slippage from Arcus: live order book, 37 min ago; Deribit: live order book, 37 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 Arcus live order book, 37 min ago	2.71 bp	10.7 bp −$11	16.1 bp −$161	doesn't fit	doesn't fit
Sell Deribit live order book, 37 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	−0.0688%	8h	91.960	+0.098%	$16.6M	$35.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0061%	1h	91.690	−0.196%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.880	+0.011%	$14.8M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.970	+0.109%	$7.3M	$27.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.999	+0.140%	$2.5M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.960	+0.098%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0016%	8h	91.957	+0.095%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	91.894	+0.026%	$1.2M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0025%	8h	91.890	+0.022%	$104.7M	$392.5M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.976	+0.115%	$975K	$2.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0039%	1h	91.900	+0.032%	$2K	$25K	5x	as long as short
Arcus CRCL-USDlong	+0.0040%	1h	91.870	long leg	$93K	$272K	10x
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.770	−0.109%	$911K	$519K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.869	−0.001%	$68.3M	$42.0M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.928	+0.063%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.934	+0.070%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.840	−0.033%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.940	+0.076%	$1.3M	$1.9M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0069%	8h	91.939	+0.075%	$423	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0087%	8h	92.030	+0.174%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0097%	8h	91.890	+0.022%	$22.3M	$61.8M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.948	+0.084%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.910	+0.044%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.830	−0.044%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.950	+0.087%	$917	$2K	10x	as long as short
BloFin CRCL-USDT	+0.0102%	8h	91.930	+0.065%	$1.1M	$1.6M	20x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.964	+0.102%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.975	+0.114%	$419K	$299K	10x	as long as short
Phoenix CRCL	+0.0182%	1h	91.770	−0.109%	$27K	$82K	10x	as long as short
edgeX CRCLUSDC	+0.0226%	4h	91.934	+0.070%	$51K	$276K	10x	as long as short
Lighter CRCL	+0.0272%	1h	92.011	+0.153%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0357%	1h	91.925	+0.060%	$134K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.533%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUALshort	+0.0730%	1h	91.950	+0.087%	$4K	$768K	10x