CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0023%/8h= −2.5% APRnext payment −$0.03 per $10,000 · paid last 24h −0.037%

Price spread now: Extended against Nado+0.093%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$270.275% of the position

Long on Nado Short on Extended

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.111%−$11 on $10k

Price spread, last 4 days (all we have)−0.206%−$21 · spread now +0.093%, 7d avg −0.009%

Together, before fees−0.317%+ Points / potential airdropNado: Active · Extended: Active · farm board−$32 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.101% dearer against Nado than usual: you sell high and buy low (spread +0.093% now, against its 7-day average of −0.009%): +$10 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 15 days. At the pace of the last 4 days (−0.111% in total) that is about 3.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado CRCL-PERP	92.441	0.0343	pay 0.0043% / 1h	56m 23s	$149K	$111K	3x
Short	Extended CRCL_24_5-USD	92.527	0.0320	get 0.0040% / 1h	56m 23s	$1.1M	$5.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Nado. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 NadobpFee ExtendedbpOrdersPrice spread, now +0.093%Rate

Funding earned: −$4.81
Price spread: +0.093% → −0.009%: $10.14
Slippage, 4 orders: −$15.45
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$22.12
Costs to cover: 0.275%
Break-even: never at this rate

Slippage from Nado: live order book, 36 min ago; Extended: 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 Nado live order book, 36 min ago	3.30 bp	7.5 bp −$7	24.9 bp −$249	doesn't fit	doesn't fit
Sell Extended live order book, 2 min ago	0.54 bp	5.7 bp −$6	19.9 bp −$199	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
Vest CRCL-USD-PERP	−0.0065%	1h	92.370	−0.077%	—	$31K	25x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.540	+0.107%	$18.0M	$35.1M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.640	+0.215%	$1.0M	$46K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0008%	1h	92.260	−0.196%	$888K	$675K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.579	+0.149%	$995K	$2.3M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	92.509	+0.073%	$2K	$29K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.514	+0.079%	$380K	$954K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.455	+0.015%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.420	−0.023%	$1.1M	$4.2M	10x	as long as short
Gate CRCL_USDT	+0.0054%	8h	92.540	+0.107%	$7.3M	$25.4M	50x	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	+0.0080%	1h	92.490	+0.053%	$1.4M	$1.6M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.510	+0.075%	$136K	$139K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.590	+0.161%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.510	+0.075%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.520	+0.085%	$922	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.515	+0.080%	$4	—	10x	as long as short
Bybit CRCLUSDT	+0.0124%	8h	92.520	+0.085%	$15.1M	$25.9M	50x	as long as short
tradeXYZ xyz:CRCL	+0.0139%	1h	92.436	−0.005%	$67.7M	$42.9M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0162%	8h	92.529	+0.095%	$426	$766	5x	as long as short
Lighter CRCL	+0.0176%	1h	92.529	+0.095%	$3.0M	$2.0M	10x	as long as short
Phoenix CRCL	+0.0254%	1h	92.779	+0.366%	$27K	$64K	10x	as long as short
Variational Omni CRCL	+0.0257%	8h	92.578	+0.148%	$2.4M	$3.2M	—	as long as short
Aster CRCLUSDT	+0.0307%	8h	92.578	+0.148%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0312%	8h	92.530	+0.096%	$22.6M	$59.4M	50x	as long as short
Binance CRCLUSDT	+0.0317%	8h	92.537	+0.104%	$106.6M	$377.0M	50x	as long as short
Extended CRCL_24_5-USDshort	+0.0320%	1h	92.527	+0.093%	$1.1M	$5.0M	10x
Nado CRCL-PERPlong	+0.0343%	1h	92.441	long leg	$149K	$111K	3x
Arcus CRCL-USD	+0.0368%	1h	92.500	+0.064%	$96K	$268K	10x	as long as short
BloFin CRCL-USDT	+0.0439%	8h	92.450	+0.010%	$1.1M	$1.7M	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	93.200	+0.821%	$39K	$172K	30x	as long as short
RISEx CRCL/USDC	+0.0479%	1h	92.563	+0.132%	$414K	$255K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0507%	1h	92.500	+0.064%	$5K	$617K	10x	as long as short
edgeX CRCLUSDC	+0.0681%	4h	92.633	+0.208%	$53K	$268K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0688%	8h	92.732	+0.315%	$62K	$1.1M	10x	as long as short