CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0048%/8h= −5.2% APRnext payment −$0.06 per $10,000 · paid last 24h +0.060%

Price spread now: Arcus against Coinbase International+0.120%7-day average −0.010% · 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−$29as in the Price arb table

costs, in and out, $10k−$420.416% of the position

Long on Coinbase International Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.013%−$1 on $10k

Price spread, last 4 days (all we have)−0.151%−$15 · spread now +0.120%, 7d avg −0.010%

Together, before fees−0.164%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.131% dearer against Coinbase International than usual: you sell high and buy low (spread +0.120% now, against its 7-day average of −0.010%): +$13 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.1 days. At the pace of the last 4 days (−0.013% in total) that is about 37 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International CRCL-PERP-INTX	91.400	0.0088	pay 0.0011% / 1h	56m 06s	$890K	$420K	10x
Short	Arcus CRCL-USD	91.510	0.0040	get 0.0005% / 1h	56m 06s	$98K	$293K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Coinbase International. 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 Coinbase InternationalbpFee ArcusbpOrdersPrice spread, now +0.120%Rate

Funding earned: −$10.02
Price spread: +0.120% → −0.010%: $13.07
Slippage, 4 orders: −$27.08
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$38.54
Costs to cover: 0.416%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 47 min ago; Arcus: live order book, 47 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 Coinbase International live order book, 47 min ago	1.10 bp	6.1 bp −$6	10.8 bp −$108	doesn't fit	doesn't fit
Sell Arcus live order book, 47 min ago	4.38 bp	9.3 bp −$9	11.9 bp −$119	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	−0.0349%	8h	91.570	+0.186%	$17.6M	$37.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0080%	1h	91.210	−0.208%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.560	+0.175%	$7.8M	$27.2M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.530	+0.142%	$1.0M	$48K	10x	as long as short
Bybit CRCLUSDT	+0.0010%	8h	91.500	+0.109%	$14.8M	$26.6M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.537	+0.150%	$978K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.497	+0.106%	$2K	$28K	5x	as long as short
Arcus CRCL-USDshort	+0.0040%	1h	91.510	+0.120%	$98K	$293K	10x
SoDEX CRCL-USD	+0.0050%	1h	91.478	+0.085%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.410	+0.011%	$1.1M	$5.0M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni CRCL	+0.0057%	8h	91.499	+0.108%	$2.4M	$3.2M	—	as long as short
QFEX CRCL-USD	+0.0071%	1h	91.510	+0.120%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTXlong	+0.0088%	1h	91.400	long leg	$890K	$420K	10x
Pacifica CRCL	+0.0100%	1h	91.536	+0.148%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.550	+0.164%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.440	+0.044%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.490	+0.098%	$912	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.503	+0.112%	$4	—	10x	as long as short
Aster CRCLUSDT	+0.0144%	8h	91.533	+0.145%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0159%	8h	91.496	+0.105%	$105.1M	$395.2M	50x	as long as short
Extended CRCL_24_5-USD	+0.0160%	1h	91.484	+0.092%	$1.0M	$5.0M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0182%	1h	91.460	+0.066%	$67.7M	$44.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0182%	8h	91.473	+0.080%	$421	$905	5x	as long as short
Polymarket Perps CRCL-USD	+0.0201%	1h	91.495	+0.104%	$383K	$1.3M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0226%	8h	91.550	+0.164%	$64K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0243%	8h	91.520	+0.131%	$22.2M	$62.1M	50x	as long as short
Phoenix CRCL	+0.0245%	1h	91.481	+0.089%	$27K	$74K	10x	as long as short
BloFin CRCL-USDT	+0.0278%	8h	91.570	+0.186%	$1.1M	$1.7M	20x	as long as short
Lighter CRCL	+0.0288%	1h	91.517	+0.128%	$2.9M	$2.3M	10x	as long as short
Nado CRCL-PERP	+0.0406%	1h	91.416	+0.018%	$134K	$109K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0406%	1h	91.470	+0.077%	$5K	$769K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.890	+0.536%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.530	+0.142%	$418K	$265K	10x	as long as short
edgeX CRCLUSDC	+0.0477%	4h	91.500	+0.109%	$52K	$278K	10x	as long as short