CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0124%/8h= −13.6% APRnext payment −$0.62 per $10,000 · paid last 24h −0.169%

Price spread now: Phemex against edgeX−0.155%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$200as in the Funding arb table

Net, price: spread back to 7d avg − costs−$120as in the Price arb table

costs, in and out, $10k−$1051.052% of the position

Long on edgeX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.946%−$95 on $10k

Price spread, last 4 days (all we have)+0.086%+$9 · spread now −0.155%, 7d avg −0.003%

Together, before fees−0.860%+ Points / potential airdropedgeX: Active · farm board−$86 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Phemex is 0.152% cheaper against edgeX than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.003%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CRCLUSDC	91.531	0.0124	pay 0.0062% / 4h	35m 02s	$52K	$275K	10x
Short	Phemex CRCLUSDT	91.390	0	get 0.0000% / 4h	35m 02s	$1.0M	$48K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against edgeX. 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 edgeXbpFee PhemexbpOrdersPrice spread, now −0.155%Rate

Funding earned: −$26
Price spread: −0.155% → −0.003%: −$15.2
Slippage, 4 orders: −$84.23
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$146.43
Costs to cover: 1.052%
Break-even: never at this rate

Slippage from edgeX: live order book, 3 min ago; Phemex: 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 edgeX live order book, 3 min ago	6.01 bp	11.3 bp −$11	22.5 bp −$225	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	1.64 bp	37.4 bp −$37	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	−0.0244%	8h	91.480	−0.056%	$17.5M	$36.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0078%	1h	91.140	−0.428%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.420	−0.122%	$7.8M	$27.3M	50x	as long as short
Phemex CRCLUSDTshort	0.0000%	4h	91.390	−0.155%	$1.0M	$48K	10x
Bybit CRCLUSDT	+0.0025%	8h	91.410	−0.133%	$14.8M	$26.5M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.430	−0.111%	$981K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	91.519	−0.013%	$2K	$28K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.550	+0.020%	$97K	$292K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.380	−0.165%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.400	−0.144%	$1.1M	$4.8M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.390	−0.155%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.400	−0.144%	$890K	$403K	10x	as long as short
Variational Omni CRCL	+0.0097%	8h	91.457	−0.081%	$2.4M	$3.2M	—	as long as short
Pacifica CRCL	+0.0100%	1h	91.397	−0.147%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.420	−0.122%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.460	−0.078%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.340	−0.209%	$911	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.386	−0.159%	$4	—	10x	as long as short
tradeXYZ xyz:CRCL	+0.0117%	1h	91.348	−0.200%	$67.7M	$43.9M	10x	as long as short
edgeX CRCLUSDClong	+0.0124%	4h	91.531	long leg	$52K	$275K	10x
Polymarket Perps CRCL-USD	+0.0157%	1h	91.350	−0.198%	$379K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0165%	8h	91.357	−0.190%	$420	$905	5x	as long as short
Aster CRCLUSDT	+0.0166%	8h	91.434	−0.106%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0182%	8h	91.430	−0.111%	$105.1M	$389.7M	50x	as long as short
Extended CRCL_24_5-USD	+0.0184%	1h	91.385	−0.160%	$1.0M	$5.0M	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.689	+0.172%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0247%	8h	91.730	+0.217%	$61K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0258%	8h	91.440	−0.100%	$22.2M	$61.7M	50x	as long as short
Lighter CRCL	+0.0272%	1h	91.397	−0.147%	$2.9M	$2.4M	10x	as long as short
BloFin CRCL-USDT	+0.0302%	8h	91.370	−0.176%	$1.1M	$1.7M	20x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0407%	1h	91.350	−0.198%	$5K	$769K	10x	as long as short
Nado CRCL-PERP	+0.0425%	1h	91.365	−0.182%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.010	+0.523%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.392	−0.153%	$410K	$272K	10x	as long as short