After costs, if the gap returns to its 7d average, $10k−$26
spread now+0.155%7d average+0.118%fees + slippage, in and out−$30spread needed0.299%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International CRCL-PERP-INTX | 95.500 | 0.0080 | pay 0.0010% / 1h | 23m 37s | $937K | $740K | 10x |
| Short | Lighter CRCL | 95.648 | 0.0128 | get 0.0016% / 1h | 23m 37s | $3.0M | $1.9M | 10x |
Coinbase International CRCL-PERP-INTX
Lighter CRCLPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $15.5
- Funding while held
- $1.44
- Slippage, 4 orders
- −$19.94
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$13.01
- Spread needed to break even
- 0.299%
Slippage from Coinbase International: live order book, 41 min ago; Lighter: live order book, 5 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0048%
- Per $10,000 a day
- +$1.44
- Average in range /8h
- —
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, 41 min ago | 6.75 bp | 11.8 bp −$12 | 17.8 bp −$178 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 5 min ago | 2.09 bp | 3.3 bp −$3 | 13.2 bp −$132 | 37.6 bp −$3,761 | doesn't fit |
CRCL price on every exchange
against the cheapest. Click to use as the short leg.SoDEX95.399cheapestDeribit95.400+0.001%Orderly95.430+0.032%Nado95.452+0.055%Vest95.460+0.064%Aevo95.467+0.071%Phemex95.480+0.085%Ondo Perps95.490+0.095%
SoDEX
Deribit
Orderly
Nado
Vest
Aevo
Phemex
Ondo PerpsCoinbase International95.500+0.106%
Arcus95.510+0.116%Extended95.512+0.119%Polymarket Perps95.517+0.124%Paradex95.528+0.135%QFEX95.540+0.148%Aster95.546+0.154%Binance95.548+0.156%ApeX Omni95.550+0.158%RISEx95.552+0.160%Lighter RH95.559+0.168%Bitget95.560+0.169%Pacifica95.572+0.181%tradeXYZ95.578+0.188%Bybit95.580+0.190%OKX95.580+0.190%Gate95.600+0.211%BloFin95.600+0.211%KuCoin95.620+0.232%Aftermath Perps95.624+0.236%Variational Omni95.632+0.244%
Arcus
Extended
Polymarket Perps
Paradex
QFEX
Aster
Binance
ApeX Omni
RISEx
Lighter RH
Bitget
Pacifica
tradeXYZ
Bybit
OKX
Gate
BloFin
KuCoin
Variational OmniLighter95.648+0.261%
Phoenix95.717+0.333%edgeX95.922+0.548%Injective96.140+0.777%
Phoenix
InjectiveCRCL on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| SoDEX CRCL-USD | −0.106% | +0.0050% | 1h | $48K | $3K | 10x | as long as short |
| Deribit CRCL_USDC-PERPETUAL | −0.105% | +0.0274% | 1h | $1K | $799K | 10x | as long as short |
| Orderly PERP_CRCL_USDC_mythos | −0.073% | +0.0100% | 8h | $951 | $3K | 10x | as long as short |
| Nado CRCL-PERP | −0.051% | +0.0212% | 1h | $131K | $77K | 3x | as long as short |
| Vest CRCL-USD-PERP | −0.042% | +0.0046% | 1h | — | $35K | 25x | as long as short |
| Aevo CRCL-PERP | −0.035% | +0.0104% | 1h | $4 | — | 10x | as long as short |
| Phemex CRCLUSDT | −0.021% | 0.0000% | 4h | $1.1M | $47K | 10x | as long as short |
| Ondo Perps CRCL-USD.P | −0.010% | +0.0050% | 1h | $1.1M | $5.6M | 10x | as long as short |
| Coinbase International CRCL-PERP-INTXlong | 0.000% | +0.0080% | 1h | $937K | $740K | 10x | |
| Arcus CRCL-USD | +0.010% | +0.0040% | 1h | $123K | $223K | 10x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Extended CRCL_24_5-USD | +0.013% | +0.0240% | 1h | $1.0M | $3.1M | 10x | as long as short |
| Polymarket Perps CRCL-USD | +0.018% | +0.0050% | 1h | $379K | $1.1M | 10x | as long as short |
| Paradex CRCL-USD-PERP | +0.030% | +0.0106% | 8h | $726 | $428 | 5x | as long as short |
| QFEX CRCL-USD | +0.042% | +0.0042% | 1h | $1.4M | $2.5M | 10x | as long as short |
| Aster CRCLUSDT | +0.048% | +0.0244% | 8h | $1.3M | $4.1M | 20x | as long as short |
| Binance CRCLUSDT | +0.050% | +0.0240% | 8h | $107.5M | $310.9M | 50x | as long as short |
| ApeX Omni CRCLUSDT | +0.052% | +0.0100% | 1h | $69K | $8K | 50x | as long as short |
| RISEx CRCL/USDC | +0.054% | +0.0336% | 1h | $412K | $323K | 10x | as long as short |
| Lighter RH CRCL | +0.062% | +0.0032% | 1h | $880K | $2.4M | 10x | as long as short |
| Bitget CRCLUSDT | +0.063% | +0.0233% | 8h | $16.6M | $30.7M | 25x | as long as short |
| Pacifica CRCL | +0.076% | +0.0100% | 1h | $89K | $89K | 10x | as long as short |
| tradeXYZ xyz:CRCL | +0.082% | +0.0172% | 1h | $76.1M | $35.5M | 10x | as long as short |
| Bybit CRCLUSDT | +0.084% | +0.0153% | 8h | $16.0M | $21.4M | 50x | as long as short |
| OKX CRCL-USDT-SWAP | +0.084% | +0.0217% | 8h | $22.7M | $50.9M | 50x | as long as short |
| Gate CRCL_USDT | +0.105% | 0.0000% | 8h | $7.2M | $23.4M | 50x | as long as short |
| BloFin CRCL-USDT | +0.105% | +0.0361% | 8h | $1.1M | $489K | 20x | as long as short |
| KuCoin CRCLUSDTM | +0.126% | +0.0141% | 8h | $3.0M | $1.1M | 20x | as long as short |
| Aftermath Perps CRCLUSD | +0.130% | +0.0305% | 1h | $1K | $10K | 5x | as long as short |
| Variational Omni CRCL | +0.138% | +0.0156% | 8h | $2.4M | $2.7M | — | as long as short |
| Lighter CRCLshort | +0.155% | +0.0128% | 1h | $3.0M | $1.9M | 10x | |
| Phoenix CRCL | +0.227% | +0.0259% | 1h | $28K | $68K | 10x | as long as short |
| edgeX CRCLUSDC | +0.442% | +0.0315% | 4h | $21K | $260K | 10x | as long as short |
| Injective CRCL/USDC PERP | +0.670% | +0.0440% | 1h | $5K | $105K | 30x | as long as short |