CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0233%/8h= −25.5% APRnext payment −$0.29 per $10,000 · paid last 24h −0.074%

Price spread now: Vest against Deribit−0.074%48s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVest: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Vest is 0.074% cheaper against Deribit than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit CRCL_USDC-PERPETUAL	94.590	0.0279	pay 0.0035% / 1h	13m 25s	$4K	$772K	10x
Short	Vest CRCL-USD-PERP	94.520	0.0046	get 0.0006% / 1h	13m 25s	—	$45K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.074%Rate

Funding earned: −$48.97
Price spread: −0.074% → 0.000%: −$7.4
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Vest: 1 bp × 2 orders: −$2
Net: −$65.37
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 65 min ago; Vest: no order-book sample. Net counts fees only.

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, 65 min ago	0.53 bp	9.3 bp −$9	12.6 bp −$126	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Gate CRCL_USDT	0.0000%	8h	94.600	+0.011%	$7.2M	$27.8M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.610	+0.021%	$1.0M	$52K	10x	as long as short
QFEX CRCL-USD	+0.0022%	1h	94.530	−0.063%	$1.4M	$2.7M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.606	+0.017%	$894K	$2.9M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	94.510	−0.085%	$940K	$723K	10x	as long as short
Vest CRCL-USD-PERPshort	+0.0046%	1h	94.520	−0.074%	—	$45K	25x
Polymarket Perps CRCL-USD	+0.0050%	1h	94.532	−0.061%	$366K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.567	−0.024%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.470	−0.127%	$1.1M	$5.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0051%	1h	94.598	+0.008%	$2K	$21K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CRCLUSDT	+0.0097%	8h	94.580	−0.011%	$15.5M	$25.9M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	94.540	−0.053%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.600	+0.011%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.570	−0.021%	$70K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.560	−0.032%	$943	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.611	+0.022%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0114%	8h	94.553	−0.039%	$775	$740	5x	as long as short
tradeXYZ xyz:CRCL	+0.0143%	1h	94.498	−0.097%	$71.6M	$43.6M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0188%	8h	94.560	−0.032%	$22.8M	$60.8M	50x	as long as short
Variational Omni CRCL	+0.0193%	8h	94.671	+0.086%	$2.5M	$3.1M	—	as long as short
Extended CRCL_24_5-USD	+0.0248%	1h	94.533	−0.060%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0249%	8h	94.550	−0.042%	$109.4M	$390.8M	50x	as long as short
Aster CRCLUSDT	+0.0251%	8h	94.580	−0.011%	$1.1M	$4.9M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0251%	8h	94.670	+0.085%	$54K	$1.1M	10x	as long as short
Nado CRCL-PERP	+0.0262%	1h	94.513	−0.082%	$132K	$76K	3x	as long as short
Deribit CRCL_USDC-PERPETUALlong	+0.0279%	1h	94.590	long leg	$4K	$772K	10x
Phoenix CRCL	+0.0288%	1h	94.530	−0.063%	$28K	$92K	10x	as long as short
Bitget CRCLUSDT	+0.0296%	8h	94.570	−0.021%	$16.9M	$35.5M	25x	as long as short
Lighter CRCL	+0.0328%	1h	94.625	+0.037%	$3.1M	$2.2M	10x	as long as short
BloFin CRCL-USDT	+0.0372%	8h	94.670	+0.085%	$1.1M	$600K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	95.560	+1.025%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0477%	4h	94.619	+0.030%	$24K	$269K	10x	as long as short
Arcus CRCL-USD	+0.0533%	1h	94.550	−0.042%	$97K	$276K	10x	as long as short
RISEx CRCL/USDC	+0.0534%	1h	94.565	−0.026%	$431K	$303K	10x	as long as short