CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0224%/8h= +24.5% APRnext payment +$0.28 per $10,000 · paid last 24h +0.003%

Price spread now: Lighter against Arcus+0.028%7-day average +0.138% · 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−$36as in the Price arb table

costs, in and out, $10k−$250.250% of the position

Long on Arcus Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.052%+$5 on $10k

Price spread, last 4 days (all we have)+0.232%+$23 · spread now +0.028%, 7d avg +0.138%

Together, before fees+0.284%+ Points / potential airdropLighter: Season 3 · farm board+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.110% cheaper against Arcus than usual: you would sell low and buy high (spread +0.028% now, against its 7-day average of +0.138%). If the spread goes back, that is −$11 on $10k: about 39 hours of funding at the current rate (+$7 a day). At the pace of the last 4 days (+0.052% in total) that is about 8.0 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.052% in total (about 5.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.28 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	91.260	0.0040	pay 0.0005% / 1h	2m 08s	$95K	$296K	10x
Short	Lighter CRCL	91.286	0.0264	get 0.0033% / 1h	2m 08s	$2.9M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.028%Rate

Funding earned: $46.98
Price spread: +0.028% → +0.138%: −$10.97
Slippage, 4 orders: −$20.52
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Lighter: 0 bp × 2 orders: $0
Net: $10.99
Costs to cover: 0.250%
Break-even: 5.4 days

Slippage from Arcus: live order book, 36 min ago; Lighter: live order book, 5 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, 36 min ago	1.64 bp	10.7 bp −$11	12.8 bp −$128	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	1.32 bp	1.5 bp −$1	4.8 bp −$48	42.1 bp −$4,214	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	−0.0335%	8h	91.360	+0.110%	$17.3M	$36.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0086%	1h	91.020	−0.263%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.320	+0.066%	$7.8M	$28.0M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.290	+0.033%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.305	+0.049%	$983K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	91.255	−0.006%	$2K	$29K	5x	as long as short
Arcus CRCL-USDlong	+0.0040%	1h	91.260	long leg	$95K	$296K	10x
SoDEX CRCL-USD	+0.0050%	1h	91.260	0.000%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.210	−0.055%	$1.1M	$4.8M	10x	as long as short
Bybit CRCLUSDT	+0.0066%	8h	91.290	+0.033%	$14.8M	$26.5M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.340	+0.088%	$1.3M	$1.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.070	−0.208%	$871K	$500K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0093%	1h	91.222	−0.042%	$67.3M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.333	+0.080%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.280	+0.022%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.170	−0.099%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.290	+0.033%	$910	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.296	+0.040%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0132%	8h	91.253	−0.008%	$2.4M	$3.3M	—	as long as short
Polymarket Perps CRCL-USD	+0.0156%	1h	91.304	+0.048%	$377K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0163%	8h	91.298	+0.041%	$420	$905	5x	as long as short
Aster CRCLUSDT	+0.0205%	8h	91.323	+0.069%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0221%	8h	91.290	+0.033%	$104.9M	$389.2M	50x	as long as short
Extended CRCL_24_5-USD	+0.0224%	1h	91.258	−0.002%	$1.0M	$5.0M	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.260	0.000%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0251%	8h	91.227	−0.036%	$70K	$1.1M	10x	as long as short
Lighter CRCLshort	+0.0264%	1h	91.286	+0.028%	$2.9M	$2.4M	10x
OKX CRCL-USDT-SWAP	+0.0293%	8h	91.310	+0.055%	$22.3M	$61.7M	50x	as long as short
BloFin CRCL-USDT	+0.0337%	8h	91.330	+0.077%	$1.1M	$1.7M	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.750	+0.537%	$5K	$19K	30x	as long as short
Nado CRCL-PERP	+0.0442%	1h	91.222	−0.042%	$134K	$109K	3x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.330	+0.077%	$412K	$260K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0627%	1h	91.290	+0.033%	$5K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0907%	4h	91.195	−0.071%	$52K	$270K	10x	as long as short