CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0038%/8h= +4.1% APRnext payment +$0.05 per $10,000 · paid last 24h +0.002%

Price spread now: Coinbase International against Ondo Perps−0.088%7-day average +0.059% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.190%+$19 on $10k

Price spread, last 4 days (all we have)+0.082%+$8 · spread now −0.088%, 7d avg +0.059%

Together, before fees+0.272%+ Points / potential airdropOndo Perps: Active · farm board+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.147% cheaper against Ondo Perps than usual: you would sell low and buy high (spread −0.088% now, against its 7-day average of +0.059%). If the spread goes back, that is −$15 on $10k: about 13 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.190% in total) that is about 5.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps CRCL-USD.P	91.150	0.0050	pay 0.0006% / 1h	7m 38s	$1.1M	$4.8M	10x
Short	Coinbase International CRCL-PERP-INTX	91.070	0.0088	get 0.0011% / 1h	7m 38s	$871K	$500K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Ondo Perps. 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 Ondo PerpsbpFee Coinbase InternationalbpOrdersPrice spread, now −0.088%Rate

Funding earned: $7.9
Price spread: −0.088% → +0.059%: −$14.69
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$21.79
Costs to cover: 0.150%
Break-even: 26.3 days

Slippage unknown: Ondo Perps: no order-book sample; Coinbase International: live order book, 31 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 31 min ago	2.73 bp	7.7 bp −$8	13.1 bp −$131	doesn't fit	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0355%	8h	91.290	+0.154%	$17.4M	$36.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0082%	1h	90.890	−0.285%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.220	+0.077%	$7.8M	$28.0M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.220	+0.077%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.198	+0.053%	$982K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.150	0.000%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.180	+0.033%	$95K	$296K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.170	+0.022%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.Plong	+0.0050%	1h	91.150	long leg	$1.1M	$4.8M	10x
Bybit CRCLUSDT	+0.0061%	8h	91.220	+0.077%	$14.8M	$26.5M	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	+0.0071%	1h	91.190	+0.044%	$1.3M	$1.7M	10x	as long as short
Coinbase International CRCL-PERP-INTXshort	+0.0088%	1h	91.070	−0.088%	$871K	$500K	10x
tradeXYZ xyz:CRCL	+0.0088%	1h	91.108	−0.046%	$67.2M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.150	0.000%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.210	+0.066%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.120	−0.033%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.170	+0.022%	$909	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.199	+0.054%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0128%	8h	91.194	+0.048%	$2.4M	$3.3M	—	as long as short
Polymarket Perps CRCL-USD	+0.0153%	1h	91.167	+0.019%	$377K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0157%	8h	91.178	+0.030%	$419	$905	5x	as long as short
Aster CRCLUSDT	+0.0195%	8h	91.228	+0.085%	$1.0M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0208%	1h	91.160	+0.011%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0211%	8h	91.170	+0.022%	$104.7M	$389.2M	50x	as long as short
Phoenix CRCL	+0.0227%	1h	91.187	+0.041%	$27K	$74K	10x	as long as short
Lighter CRCL	+0.0248%	1h	91.199	+0.054%	$2.9M	$2.4M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0250%	8h	91.217	+0.073%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0285%	8h	91.250	+0.110%	$22.3M	$61.7M	50x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0299%	1h	91.170	+0.022%	$5K	$769K	10x	as long as short
BloFin CRCL-USDT	+0.0329%	8h	91.200	+0.055%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0435%	1h	91.121	−0.032%	$133K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.740	+0.647%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.224	+0.082%	$412K	$268K	10x	as long as short
edgeX CRCLUSDC	+0.0810%	4h	91.207	+0.063%	$52K	$269K	10x	as long as short