CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0024%/8h= +2.6% APRnext payment +$0.03 per $10,000 · paid last 24h −0.007%

Price spread now: Lighter RH against Coinbase International+0.227%7-day average +0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$360.358% of the position

Long on Coinbase International Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.189%−$19 on $10k

Price spread, last 4 days (all we have)−0.135%−$13 · spread now +0.227%, 7d avg +0.066%

Together, before fees−0.324%+ Points / potential airdropLighter RH: Points live · farm board−$32 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH is 0.162% dearer against Coinbase International than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.066%. Mind the row above: over the last 7 days funding on this pair cost −0.189%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International CRCL-PERP-INTX	92.390	0.0008	pay 0.0001% / 1h	14m 28s	$856K	$699K	10x
Short	Lighter RH CRCL	92.600	0.0032	get 0.0004% / 1h	14m 28s	$1.0M	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.227%Rate

Funding earned: $5.04
Price spread: +0.227% → +0.066%: $16.17
Slippage, 4 orders: −$25.78
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$14.57
Costs to cover: 0.358%
Break-even: 27.2 days

Slippage from Coinbase International: live order book, 37 min ago; Lighter RH: live order book, 2 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, 37 min ago	7.61 bp	12.6 bp −$13	27.1 bp −$271	doesn't fit	doesn't fit
Sell Lighter RH live order book, 2 min ago	2.11 bp	2.3 bp −$2	3.6 bp −$36	doesn't fit	doesn't fit

CRCL on 34 exchanges

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
Vest CRCL-USD-PERP	−0.0021%	1h	92.440	+0.054%	—	$30K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.620	+0.249%	$15.0M	$25.2M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.640	+0.271%	$18.1M	$34.0M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.530	+0.152%	$1.0M	$45K	10x	as long as short
Coinbase International CRCL-PERP-INTXlong	+0.0008%	1h	92.390	long leg	$856K	$699K	10x
Lighter RH CRCLshort	+0.0032%	1h	92.600	+0.227%	$1.0M	$2.5M	10x
Aftermath Perps CRCLUSD	+0.0040%	1h	92.483	+0.101%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.545	+0.168%	$67.7M	$40.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.616	+0.245%	$380K	$850K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.546	+0.169%	$46K	$3K	10x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.470	+0.087%	$1.1M	$3.9M	10x	as long as short
Gate CRCL_USDT	+0.0069%	8h	92.660	+0.292%	$7.4M	$25.9M	50x	as long as short
QFEX CRCL-USD	+0.0080%	1h	92.590	+0.216%	$1.3M	$1.6M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.570	+0.195%	$139K	$141K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.550	+0.173%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.330	−0.065%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.580	+0.206%	$923	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.575	+0.200%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0112%	8h	92.574	+0.199%	$426	$477	5x	as long as short
Phoenix CRCL	+0.0199%	1h	92.370	−0.022%	$27K	$66K	10x	as long as short
Lighter CRCL	+0.0248%	1h	92.629	+0.259%	$3.0M	$2.1M	10x	as long as short
Variational Omni CRCL	+0.0281%	8h	92.555	+0.179%	$2.5M	$3.3M	—	as long as short
Nado CRCL-PERP	+0.0313%	1h	92.524	+0.145%	$151K	$112K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0328%	8h	92.620	+0.249%	$22.8M	$57.5M	50x	as long as short
Aster CRCLUSDT	+0.0355%	8h	92.560	+0.184%	$1.1M	$4.5M	20x	as long as short
Extended CRCL_24_5-USD	+0.0360%	1h	92.580	+0.206%	$1.1M	$4.2M	10x	as long as short
Binance CRCLUSDT	+0.0361%	8h	92.609	+0.238%	$107.0M	$360.4M	50x	as long as short
Arcus CRCL-USD	+0.0368%	1h	92.570	+0.195%	$93K	$229K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0399%	1h	92.550	+0.173%	$5K	$477K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.090	−0.325%	$38K	$172K	30x	as long as short
RISEx CRCL/USDC	+0.0479%	1h	92.640	+0.271%	$411K	$242K	10x	as long as short
BloFin CRCL-USDT	+0.0480%	8h	92.600	+0.227%	$1.1M	$1.7M	20x	as long as short
edgeX CRCLUSDC	+0.0638%	4h	92.445	+0.060%	$53K	$270K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0722%	8h	92.474	+0.091%	$70K	$1.0M	10x	as long as short