CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0047%/8h= −5.1% APRnext payment −$0.06 per $10,000 · paid last 24h −0.090%

Price spread now: Lighter RH against Deribit+0.015%7-day average +0.025% · 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−$280.279% of the position

Long on Deribit Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.139%−$14 on $10k

Price spread, last 4 days (all we have)+0.123%+$12 · spread now +0.015%, 7d avg +0.025%

Together, before fees−0.016%+ Points / potential airdropLighter RH: Points live · farm board−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.025%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit CRCL_USDC-PERPETUAL	91.220	0.0079	pay 0.0010% / 1h	46m 10s	$4K	$767K	10x
Short	Lighter RH CRCL	91.234	0.0032	get 0.0004% / 1h	46m 10s	$970K	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Deribit. 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 DeribitbpFee Lighter RHbpOrdersPrice spread, now +0.015%Rate

Funding earned: −$9.87
Price spread: +0.015% → +0.025%: −$0.93
Slippage, 4 orders: −$20.91
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$38.7
Costs to cover: 0.279%
Break-even: never at this rate

Slippage from Deribit: live order book, 18 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 Deribit live order book, 18 min ago	0.54 bp	12.7 bp −$13	15.0 bp −$150	doesn't fit	doesn't fit
Sell Lighter RH live order book, 2 min ago	3.02 bp	3.6 bp −$4	7.6 bp −$76	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	−0.1270%	8h	91.270	+0.055%	$15.6M	$34.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0076%	1h	90.920	−0.329%	—	$35K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.160	−0.066%	$900K	$535K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.230	+0.011%	$14.9M	$25.6M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.198	−0.024%	$416K	$297K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.230	+0.011%	$7.0M	$26.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.307	+0.096%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.340	+0.132%	$66K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.190	−0.033%	$1.0M	$49K	10x	as long as short
Extended CRCL_24_5-USD	+0.0008%	1h	91.194	−0.028%	$1.1M	$5.7M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CRCLUSDT	+0.0012%	8h	91.229	+0.010%	$103.7M	$383.8M	50x	as long as short
Aster CRCLUSDT	+0.0018%	8h	91.233	+0.014%	$1.1M	$4.9M	20x	as long as short
Aftermath Perps CRCLUSD	+0.0022%	1h	91.260	+0.044%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.170	−0.055%	$1.3M	$2.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0024%	8h	91.230	+0.011%	$21.4M	$59.0M	50x	as long as short
Lighter RH CRCLshort	+0.0032%	1h	91.234	+0.015%	$970K	$2.9M	10x
Arcus CRCL-USD	+0.0040%	1h	91.190	−0.033%	$92K	$272K	10x	as long as short
BloFin CRCL-USDT	+0.0048%	8h	91.190	−0.033%	—	$1.3M	20x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.160	−0.066%	$68.2M	$41.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.176	−0.048%	$354K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.184	−0.039%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.100	−0.132%	$970K	$5.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0070%	8h	91.211	−0.010%	$748	$740	5x	as long as short
Deribit CRCL_USDC-PERPETUALlong	+0.0079%	1h	91.220	long leg	$4K	$767K	10x
Pacifica CRCL	+0.0100%	1h	91.232	+0.014%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.290	+0.077%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.050	−0.186%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.200	−0.022%	$909	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.175	−0.050%	$4	—	10x	as long as short
Phoenix CRCL	+0.0183%	1h	91.079	−0.155%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0200%	1h	91.201	−0.021%	$130K	$104K	3x	as long as short
Lighter CRCL	+0.0248%	1h	91.244	+0.026%	$2.9M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.600	+0.417%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0479%	4h	91.113	−0.117%	$23K	$268K	10x	as long as short