CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0182%/8h= −19.9% APRnext payment −$0.23 per $10,000 · paid last 24h −0.063%

Price spread now: tradeXYZ against Lighter−0.088%7-day average −0.124% · you buy dearer than you sell

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$350.348% of the position

Long on Lighter Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.600%−$60 on $10k

Price spread, last 7 days−0.057%−$6 · spread now −0.088%, 7d avg −0.124%

Together, before fees−0.657%+ Points / potential airdropLighter: Season 3 · tradeXYZ: Active · farm board−$66 on $10k · with fees, hour by hour

The price spread pays, funding is against you. tradeXYZ is 0.036% dearer against Lighter than usual: you sell high and buy low (spread −0.088% now, against its 7-day average of −0.124%): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter CRCL	91.944	0.0232	pay 0.0029% / 1h	21m 44s	$3.0M	$2.4M	10x
Short	tradeXYZ xyz:CRCL	91.863	0.0050	get 0.0006% / 1h	21m 44s	$68.6M	$41.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Lighter. 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 LighterbpFee tradeXYZbpOrdersPrice spread, now −0.088%Rate

Funding earned: −$38.22
Price spread: −0.088% → −0.124%: $3.55
Slippage, 4 orders: −$16.83
Fee Lighter: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$69.5
Costs to cover: 0.348%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; tradeXYZ: live order book, 7 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 Lighter live order book, 6 min ago	3.55 bp	7.6 bp −$8	15.1 bp −$151	42.9 bp −$4,292	doesn't fit
Sell tradeXYZ live order book, 7 min ago	1.36 bp	11.3 bp −$11	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	−0.1279%	8h	92.020	+0.083%	$15.9M	$34.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0077%	1h	91.620	−0.352%	—	$31K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.790	−0.167%	$906K	$500K	10x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	92.006	+0.068%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.944	0.000%	$104.8M	$385.3M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.990	+0.050%	$15.1M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.944	0.000%	$420K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.060	+0.126%	$7.1M	$26.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.576	−0.400%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.605	−0.369%	$65K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.890	−0.059%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0007%	8h	91.990	+0.050%	$21.6M	$59.5M	50x	as long as short
Aster CRCLUSDT	+0.0007%	8h	91.969	+0.027%	$1.1M	$4.9M	20x	as long as short
Aftermath Perps CRCLUSD	+0.0020%	1h	91.679	−0.288%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.850	−0.102%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.939	−0.005%	$976K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.750	−0.211%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCLshort	+0.0050%	1h	91.863	−0.088%	$68.6M	$41.3M	10x
Polymarket Perps CRCL-USD	+0.0050%	1h	91.890	−0.059%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.848	−0.104%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.910	−0.037%	$982K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0074%	8h	91.932	−0.013%	$754	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.930	−0.015%	$133K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.910	−0.037%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.600	−0.374%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.930	−0.015%	$917	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.915	−0.032%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.760	−0.200%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0183%	1h	91.546	−0.433%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0197%	1h	91.844	−0.108%	$131K	$104K	3x	as long as short
Lighter CRCLlong	+0.0232%	1h	91.944	long leg	$3.0M	$2.4M	10x
edgeX CRCLUSDC	+0.0300%	4h	91.627	−0.344%	$23K	$248K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.180	+0.257%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0730%	1h	91.940	−0.004%	$4K	$767K	10x	as long as short