CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0198%/8h= −21.6% APRnext payment −$0.25 per $10,000 · paid last 24h −0.082%

Price spread now: Pacifica against Deribit−0.007%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$760.762% of the position

Long on Deribit Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.078%−$8 on $10k

Price spread, last 4 days (all we have)+0.035%+$4 · spread now −0.007%, 7d avg −0.008%

Together, before fees−0.043%+ Points / potential airdropPacifica: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.078% in total (about -5.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.25 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	Deribit CRCL_USDC-PERPETUAL	91.370	0.0298	pay 0.0037% / 1h	29m 16s	$5K	$769K	10x
Short	Pacifica CRCL	91.363	0.0100	get 0.0013% / 1h	29m 16s	$134K	$159K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.007%Rate

Funding earned: −$41.48
Price spread: −0.007% → −0.008%: $0.05
Slippage, 4 orders: −$61.19
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$117.62
Costs to cover: 0.762%
Break-even: never at this rate

Slippage from Deribit: live order book, 15 min ago; Pacifica: live order book, 60 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, 15 min ago	6.02 bp	9.5 bp −$10	13.6 bp −$136	doesn't fit	doesn't fit
Sell Pacifica live order book, 60 min ago	18.69 bp	26.5 bp −$27	doesn't fit	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	−0.0710%	8h	91.480	+0.120%	$17.4M	$37.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0088%	1h	91.110	−0.285%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.430	+0.066%	$14.7M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.440	+0.077%	$7.8M	$27.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.369	−0.001%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.380	+0.011%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.456	+0.094%	$977K	$2.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	91.293	−0.084%	$2K	$27K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.330	−0.044%	$95K	$291K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.373	+0.003%	$46K	$3K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.240	−0.142%	$1.1M	$5.2M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0056%	1h	91.200	−0.186%	$888K	$603K	10x	as long as short
QFEX CRCL-USD	+0.0068%	1h	91.460	+0.099%	$1.3M	$1.8M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0074%	1h	91.347	−0.025%	$67.6M	$44.4M	10x	as long as short
Aster CRCLUSDT	+0.0087%	8h	91.430	+0.066%	$1.0M	$5.1M	20x	as long as short
Pacifica CRCLshort	+0.0100%	1h	91.363	−0.007%	$134K	$159K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	91.410	+0.044%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.290	−0.088%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.400	+0.033%	$911	$2K	10x	as long as short
Binance CRCLUSDT	+0.0100%	8h	91.403	+0.036%	$104.5M	$397.3M	50x	as long as short
Extended CRCL_24_5-USD	+0.0104%	1h	91.379	+0.010%	$1.0M	$5.0M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.399	+0.031%	$4	—	10x	as long as short
Polymarket Perps CRCL-USD	+0.0132%	1h	91.394	+0.026%	$383K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0158%	8h	91.419	+0.054%	$421	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0187%	8h	91.389	+0.021%	$67K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0199%	8h	91.420	+0.055%	$22.2M	$62.5M	50x	as long as short
BloFin CRCL-USDT	+0.0219%	8h	91.390	+0.022%	$1.1M	$1.7M	20x	as long as short
Phoenix CRCL	+0.0245%	1h	91.232	−0.151%	$27K	$82K	10x	as long as short
RISEx CRCL/USDC	+0.0271%	1h	91.395	+0.027%	$416K	$268K	10x	as long as short
Lighter CRCL	+0.0288%	1h	91.452	+0.090%	$2.9M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUALlong	+0.0298%	1h	91.370	long leg	$5K	$769K	10x
Nado CRCL-PERP	+0.0408%	1h	91.352	−0.020%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.720	+0.383%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0857%	4h	91.319	−0.056%	$52K	$278K	10x	as long as short