CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0135%/8h= −14.8% APRnext payment −$0.17 per $10,000 · paid last 24h −0.077%

Price spread now: tradeXYZ against Deribit−0.027%7-day average −0.029% · 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−$40as in the Price arb table

costs, in and out, $10k−$400.398% of the position

Long on Deribit Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.097%−$10 on $10k

Price spread, last 3 days (all we have)+0.002%$0 · spread now −0.027%, 7d avg −0.029%

Together, before fees−0.095%+ Points / potential airdroptradeXYZ: Active · farm board−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.029%, so right now this pair is about funding alone: −$4 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	91.970	0.0185	pay 0.0023% / 1h	13m 13s	$4K	$769K	10x
Short	tradeXYZ xyz:CRCL	91.945	0.0050	get 0.0006% / 1h	13m 13s	$69.1M	$42.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.027%Rate

Funding earned: −$28.37
Price spread: −0.027% → −0.029%: $0.23
Slippage, 4 orders: −$14.76
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$67.91
Costs to cover: 0.398%
Break-even: never at this rate

Slippage from Deribit: live order book, 56 min ago; tradeXYZ: live order book, 6 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, 56 min ago	0.53 bp	5.1 bp −$5	8.6 bp −$86	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 6 min ago	1.04 bp	10.8 bp −$11	doesn't fit	doesn't fit	doesn't fit

CRCL on 33 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	−0.0857%	8h	92.050	+0.087%	$16.1M	$35.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0046%	1h	91.810	−0.174%	—	$40K	25x	as long as short
Gate CRCL_USDT	−0.0037%	8h	92.010	+0.043%	$7.1M	$26.8M	50x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.990	+0.022%	$908K	$590K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.000	+0.033%	$15.0M	$25.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.040	+0.076%	$420K	$299K	10x	as long as short
Variational Omni CRCL	0.0000%	8h	91.928	−0.046%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	92.010	+0.043%	$70K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.000	+0.033%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0024%	1h	91.950	−0.022%	$2K	$23K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	92.012	+0.046%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.960	−0.011%	$93K	$273K	10x	as long as short
Extended CRCL_24_5-USD	+0.0048%	1h	91.967	−0.003%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0050%	8h	92.000	+0.033%	$104.9M	$394.2M	50x	as long as short
tradeXYZ xyz:CRCLshort	+0.0050%	1h	91.945	−0.027%	$69.1M	$42.2M	10x
Polymarket Perps CRCL-USD	+0.0050%	1h	91.975	+0.005%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.982	+0.013%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.970	0.000%	$999K	$5.5M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0053%	8h	92.020	+0.054%	$21.7M	$60.4M	50x	as long as short
QFEX CRCL-USD	+0.0057%	1h	92.060	+0.098%	$1.3M	$2.3M	10x	as long as short
Aster CRCLUSDT	+0.0059%	8h	92.017	+0.051%	$1.1M	$4.9M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0072%	8h	92.049	+0.086%	$755	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	92.067	+0.105%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.010	+0.043%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.980	+0.011%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.980	+0.011%	$917	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.968	−0.002%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0152%	1h	91.963	−0.008%	$131K	$104K	3x	as long as short
Deribit CRCL_USDC-PERPETUALlong	+0.0185%	1h	91.970	long leg	$4K	$769K	10x
Lighter CRCL	+0.0192%	1h	92.019	+0.053%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	91.952	−0.020%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.500	+0.576%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0705%	4h	91.967	−0.004%	$23K	$268K	10x	as long as short