CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0231%/8h= −25.3% APRnext payment −$2.31 per $10,000 · paid last 24h +0.012%

Price spread now: Bybit against Bitget−0.011%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$390.391% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.070%−$7 on $10k

Price spread, last 7 days+0.016%+$2 · spread now −0.011%, 7d avg +0.001%

Together, before fees−0.054%−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.001%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.070% in total (about -3.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.31 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	Bitget CRCLUSDT	94.260	0.0306	pay 0.0306% / 8h	1h 07m	$16.6M	$35.1M	25x
Short	Bybit CRCLUSDT	94.250	0.0075	get 0.0075% / 8h	1h 07m	$15.5M	$25.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$48.51
Price spread: −0.011% → +0.001%: −$1.2
Slippage, 4 orders: −$16.13
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$88.84
Costs to cover: 0.391%
Break-even: never at this rate

Slippage from Bitget: live order book, 7 min ago; Bybit: live order book, 7 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 Bitget live order book, 7 min ago	1.59 bp	9.1 bp −$9	16.3 bp −$163	59.5 bp −$5,952	doesn't fit
Sell Bybit live order book, 7 min ago	0.53 bp	10.3 bp −$10	18.0 bp −$180	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
Gate CRCL_USDT	0.0000%	8h	94.210	−0.053%	$7.2M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.180	−0.085%	$1.0M	$52K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.278	+0.019%	$888K	$2.9M	10x	as long as short
QFEX CRCL-USD	+0.0033%	1h	94.210	−0.053%	$1.4M	$2.7M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.170	−0.095%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0048%	1h	94.191	−0.073%	$2K	$20K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.138	−0.129%	$365K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.167	−0.099%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.050	−0.223%	$1.1M	$5.9M	10x	as long as short
Bybit CRCLUSDTshort	+0.0075%	8h	94.250	−0.011%	$15.5M	$25.8M	50x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International CRCL-PERP-INTX	+0.0080%	1h	94.100	−0.170%	$936K	$720K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.110	−0.159%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.220	−0.042%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.170	−0.095%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.180	−0.085%	$939	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.214	−0.049%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0127%	8h	94.125	−0.143%	$772	$740	5x	as long as short
Variational Omni CRCL	+0.0128%	8h	94.142	−0.125%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	+0.0132%	8h	94.200	−0.063%	$62K	$1.1M	10x	as long as short
RISEx CRCL/USDC	+0.0159%	1h	94.155	−0.111%	$429K	$310K	10x	as long as short
Binance CRCLUSDT	+0.0164%	8h	94.210	−0.053%	$108.3M	$388.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0168%	1h	94.163	−0.103%	$1.1M	$3.8M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0172%	1h	94.212	−0.051%	$70.6M	$42.7M	10x	as long as short
Aster CRCLUSDT	+0.0183%	8h	94.199	−0.065%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0190%	8h	94.240	−0.021%	$22.8M	$60.4M	50x	as long as short
Phoenix CRCL	+0.0212%	1h	94.180	−0.085%	$28K	$92K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	94.100	−0.170%	$96K	$275K	10x	as long as short
Nado CRCL-PERP	+0.0254%	1h	94.089	−0.181%	$126K	$73K	3x	as long as short
BloFin CRCL-USDT	+0.0284%	8h	94.260	0.000%	$1.1M	$580K	20x	as long as short
Lighter CRCL	+0.0288%	1h	94.285	+0.027%	$3.0M	$2.3M	10x	as long as short
Bitget CRCLUSDTlong	+0.0306%	8h	94.260	long leg	$16.6M	$35.1M	25x
Injective CRCL/USDC PERP	+0.0440%	1h	94.760	+0.530%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0494%	1h	94.200	−0.064%	$4K	$772K	10x	as long as short
edgeX CRCLUSDC	+0.0642%	4h	94.155	−0.112%	$24K	$267K	10x	as long as short