CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0279%/8h= −30.6% APRnext payment −$0.35 per $10,000 · paid last 24h −0.066%

Price spread now: Lighter RH against Nado+0.148%7-day average +0.029% · 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−$13as in the Price arb table

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

Long on Nado Short on Lighter RH

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)−0.174%−$17 · spread now +0.148%, 7d avg +0.029%

Together, before fees−0.280%+ Points / potential airdropNado: Active · Lighter RH: Points live · farm board−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter RH is 0.119% dearer against Nado than usual: you sell high and buy low (spread +0.148% now, against its 7-day average of +0.029%): +$12 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 34 hours. At the pace of the last 3 days (−0.106% in total) that is about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado CRCL-PERP	92.026	0.0311	pay 0.0039% / 1h	10m 15s	$131K	$104K	3x
Short	Lighter RH CRCL	92.162	0.0032	get 0.0004% / 1h	10m 15s	$977K	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Nado. 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 NadobpFee Lighter RHbpOrdersPrice spread, now +0.148%Rate

Funding earned: −$58.65
Price spread: +0.148% → +0.029%: $11.91
Slippage, 4 orders: −$17.99
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$71.73
Costs to cover: 0.250%
Break-even: never at this rate

Slippage from Nado: live order book, 47 min ago; Lighter RH: live order book, 3 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, 47 min ago	3.80 bp	11.6 bp −$12	28.8 bp −$288	doesn't fit	doesn't fit
Sell Lighter RH live order book, 3 min ago	2.77 bp	2.9 bp −$3	6.8 bp −$68	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	−0.0913%	8h	92.170	+0.157%	$16.6M	$35.2M	25x	as long as short
Vest CRCL-USD-PERP	−0.0069%	1h	91.870	−0.169%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	92.063	+0.041%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	92.144	+0.129%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	92.160	+0.146%	$105.0M	$390.0M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.170	+0.157%	$14.9M	$26.4M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.105	+0.086%	$419K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.180	+0.168%	$7.3M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.128	+0.111%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	92.052	+0.029%	$64K	$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	92.150	+0.135%	$1.0M	$49K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.990	−0.039%	$908K	$491K	10x	as long as short
QFEX CRCL-USD	+0.0028%	1h	92.070	+0.048%	$1.3M	$2.0M	10x	as long as short
Lighter RH CRCLshort	+0.0032%	1h	92.162	+0.148%	$977K	$2.9M	10x
Aftermath Perps CRCLUSD	+0.0036%	1h	92.003	−0.025%	$2K	$25K	5x	as long as short
OKX CRCL-USDT-SWAP	+0.0037%	8h	92.160	+0.146%	$22.3M	$61.5M	50x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.020	−0.006%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.090	+0.070%	$68.6M	$41.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.082	+0.061%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.131	+0.114%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.000	−0.028%	$1.0M	$5.2M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.050	+0.026%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.090	+0.070%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.990	−0.039%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.150	+0.135%	$919	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.140	+0.124%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0112%	8h	92.079	+0.057%	$424	$905	5x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	92.100	+0.081%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	92.044	+0.020%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0216%	1h	92.156	+0.142%	$3.0M	$2.4M	10x	as long as short
edgeX CRCLUSDC	+0.0223%	4h	91.994	−0.034%	$51K	$277K	10x	as long as short
Nado CRCL-PERPlong	+0.0311%	1h	92.026	long leg	$131K	$104K	3x
Injective CRCL/USDC PERP	+0.0440%	1h	92.560	+0.581%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0728%	1h	92.150	+0.135%	$4K	$767K	10x	as long as short