CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0408%/8h= +44.7% APRnext payment +$0.51 per $10,000 · paid last 24h +0.122%

Price spread now: Injective against Lighter RH−0.523%67s7-day average +0.902% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$870.870% of the position

Long on Lighter RH Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.749%+$75 on $10k

Price spread, last 4 days (all we have)+0.887%+$89 · spread now −0.523%, 7d avg +0.902%

Together, before fees+1.636%+ Points / potential airdropLighter RH: Points live · farm board+$164 on $10k · with fees, hour by hour

Funding pays, the price is against you. Injective is 1.425% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.523% now, against its 7-day average of +0.902%). If the spread goes back, that is −$142 on $10k: about 12 days of funding at the current rate (+$12 a day). The two prices were read 67 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	Lighter RH CRCL	92.574	0.0032	pay 0.0004% / 1h	16m 11s	$1.0M	$2.5M	10x
Short	Injective CRCL/USDC PERP	92.090	0.0440	get 0.0055% / 1h	16m 11s	$38K	$172K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Lighter RH. 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 Lighter RHbpFee InjectivebpOrdersPrice spread, now −0.523%Rate

Funding earned: $85.68
Price spread: −0.523% → +0.902%: −$142.49
Slippage, 4 orders: −$86.96
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$143.79
Costs to cover: 0.870%
Break-even: 18.7 days

Slippage from Lighter RH: live order book, 5 min ago; Injective: live order book, 35 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 RH live order book, 5 min ago	2.49 bp	5.1 bp −$5	8.0 bp −$80	doesn't fit	doesn't fit
Sell Injective live order book, 35 min ago	21.77 bp	21.8 bp −$22	30.8 bp −$308	doesn't fit	doesn't fit

CRCL on 34 exchanges

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
Vest CRCL-USD-PERP	−0.0021%	1h	92.430	−0.156%	—	$30K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.580	+0.006%	$15.0M	$25.2M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.580	+0.006%	$18.1M	$34.0M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.500	−0.080%	$1.0M	$45K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0008%	1h	92.390	−0.199%	$856K	$699K	10x	as long as short
edgeX CRCLUSDC	+0.0031%	4h	92.350	−0.242%	$53K	$269K	10x	as long as short
Lighter RH CRCLlong	+0.0032%	1h	92.574	long leg	$1.0M	$2.5M	10x
Aftermath Perps CRCLUSD	+0.0040%	1h	92.402	−0.185%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.492	−0.089%	$67.7M	$40.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.559	−0.016%	$380K	$850K	10x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX CRCL-USD	+0.0050%	1h	92.540	−0.037%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.400	−0.188%	$1.1M	$3.9M	10x	as long as short
Gate CRCL_USDT	+0.0064%	8h	92.600	+0.028%	$7.4M	$25.9M	50x	as long as short
QFEX CRCL-USD	+0.0080%	1h	92.560	−0.015%	$1.3M	$1.6M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.510	−0.069%	$139K	$141K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.500	−0.080%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.270	−0.328%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.570	−0.004%	$923	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.561	−0.014%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0107%	8h	92.530	−0.047%	$426	$477	5x	as long as short
Phoenix CRCL	+0.0199%	1h	92.370	−0.220%	$27K	$66K	10x	as long as short
Lighter CRCL	+0.0240%	1h	92.608	+0.037%	$3.0M	$2.1M	10x	as long as short
Variational Omni CRCL	+0.0258%	8h	92.386	−0.203%	$2.5M	$3.3M	—	as long as short
Nado CRCL-PERP	+0.0313%	1h	92.473	−0.109%	$151K	$112K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0328%	8h	92.570	−0.004%	$22.8M	$57.5M	50x	as long as short
Aster CRCLUSDT	+0.0350%	8h	92.560	−0.015%	$1.1M	$4.5M	20x	as long as short
Binance CRCLUSDT	+0.0358%	8h	92.580	+0.006%	$107.0M	$361.1M	50x	as long as short
Extended CRCL_24_5-USD	+0.0360%	1h	92.542	−0.034%	$1.1M	$4.2M	10x	as long as short
Arcus CRCL-USD	+0.0368%	1h	92.540	−0.037%	$96K	$226K	10x	as long as short
Injective CRCL/USDC PERPshort	+0.0440%	1h	92.090	−0.523%	$38K	$172K	30x
BloFin CRCL-USDT	+0.0470%	8h	92.450	−0.134%	$1.1M	$1.7M	20x	as long as short
RISEx CRCL/USDC	+0.0479%	1h	92.590	+0.017%	$411K	$243K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0507%	1h	92.540	−0.037%	$5K	$488K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0682%	8h	92.400	−0.188%	$70K	$1.0M	10x	as long as short