CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0280%/8h= +30.7% APRnext payment +$0.35 per $10,000 · paid last 24h +0.066%

Price spread now: Nado against Lighter RH−0.109%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−$33as in the Price arb table

costs, in and out, $10k−$250.250% of the position

Long on Lighter RH Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.106%+$11 on $10k

Price spread, last 4 days (all we have)+0.135%+$13 · spread now −0.109%, 7d avg −0.029%

Together, before fees+0.241%+ Points / potential airdropLighter RH: Points live · Nado: Active · farm board+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.080% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.109% now, against its 7-day average of −0.029%). If the spread goes back, that is −$8 on $10k: about 23 hours of funding at the current rate (+$8 a day). At the pace of the last 3 days (+0.106% in total) that is about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH CRCL	92.176	0.0032	pay 0.0004% / 1h	9m 34s	$977K	$2.9M	10x
Short	Nado CRCL-PERP	92.076	0.0312	get 0.0039% / 1h	9m 34s	$131K	$104K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.109%Rate

Funding earned: $58.81
Price spread: −0.109% → −0.029%: −$7.98
Slippage, 4 orders: −$17.99
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $25.84
Costs to cover: 0.250%
Break-even: 3.9 days

Slippage from Lighter RH: live order book, 4 min ago; Nado: live order book, 48 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, 4 min ago	2.77 bp	2.9 bp −$3	11.0 bp −$110	doesn't fit	doesn't fit
Sell Nado live order book, 48 min ago	3.80 bp	7.6 bp −$8	27.2 bp −$272	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	−0.0899%	8h	92.220	+0.048%	$16.6M	$35.2M	25x	as long as short
Vest CRCL-USD-PERP	−0.0069%	1h	91.910	−0.289%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	92.075	−0.110%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	92.132	−0.048%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	92.183	+0.008%	$105.0M	$390.0M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.180	+0.004%	$14.9M	$26.4M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.160	−0.018%	$419K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.230	+0.059%	$7.3M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.128	−0.052%	$2.5M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.150	−0.028%	$1.0M	$49K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT CRCL_USDT_Perp	+0.0008%	8h	92.126	−0.055%	$64K	$1.1M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.990	−0.202%	$908K	$491K	10x	as long as short
QFEX CRCL-USD	+0.0028%	1h	92.160	−0.017%	$1.3M	$2.0M	10x	as long as short
Lighter RH CRCLlong	+0.0032%	1h	92.176	long leg	$977K	$2.9M	10x
Aftermath Perps CRCLUSD	+0.0036%	1h	92.003	−0.188%	$2K	$25K	5x	as long as short
OKX CRCL-USDT-SWAP	+0.0037%	8h	92.180	+0.004%	$22.3M	$61.5M	50x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.040	−0.148%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.111	−0.071%	$68.6M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.130	−0.050%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.131	−0.049%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.000	−0.191%	$1.0M	$5.2M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.130	−0.050%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.070	−0.115%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.030	−0.158%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.150	−0.028%	$919	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.140	−0.039%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0114%	8h	92.140	−0.039%	$424	$905	5x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	92.100	−0.082%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	92.044	−0.143%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0216%	1h	92.176	0.000%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERPshort	+0.0312%	1h	92.076	−0.109%	$131K	$104K	3x
edgeX CRCLUSDC	+0.0342%	4h	92.128	−0.052%	$51K	$275K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.560	+0.417%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0728%	1h	92.150	−0.028%	$4K	$767K	10x	as long as short