CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0025%/8h= +2.8% APRnext payment +$0.03 per $10,000 · paid last 24h +0.090%

Price spread now: Deribit against Ondo Perps+0.305%7-day average +0.093% · you sell dearer than you buy

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

Long on Ondo Perps Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.108%+$11 on $10k

Price spread, last 3 days (all we have)−0.294%−$29 · spread now +0.305%, 7d avg +0.093%

Together, before fees−0.186%+ Points / potential airdropOndo Perps: Active · farm board−$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Deribit is 0.212% dearer against Ondo Perps than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of +0.093%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps CRCL-USD.P	91.850	0.0050	pay 0.0006% / 1h	36m 09s	$1.0M	$5.5M	10x
Short	Deribit CRCL_USDC-PERPETUAL	92.130	0.0076	get 0.0009% / 1h	36m 09s	$4K	$769K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Ondo Perps. 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 Ondo PerpsbpFee DeribitbpOrdersPrice spread, now +0.305%Rate

Funding earned: $5.32
Price spread: +0.305% → +0.093%: $21.17
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $14.49
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Ondo Perps: no order-book sample; Deribit: live order book, 33 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 Deribit live order book, 33 min ago	0.53 bp	13.6 bp −$14	16.0 bp −$160	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	−0.0361%	8h	92.160	+0.338%	$16.0M	$35.3M	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.990	+0.152%	$916K	$586K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.110	+0.283%	$15.1M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.017	+0.182%	$420K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.140	+0.316%	$7.2M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.051	+0.219%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.790	−0.065%	$61K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.970	+0.131%	$1.0M	$49K	10x	as long as short
Vest CRCL-USD-PERP	+0.0002%	1h	91.830	−0.022%	—	$37K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0027%	1h	92.005	+0.169%	$2K	$23K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	92.127	+0.302%	$980K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.900	+0.054%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.053	+0.221%	$69.4M	$41.9M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.037	+0.204%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.990	+0.152%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.Plong	+0.0050%	1h	91.850	long leg	$1.0M	$5.5M	10x
QFEX CRCL-USD	+0.0057%	1h	92.000	+0.163%	$1.3M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUALshort	+0.0076%	1h	92.130	+0.305%	$4K	$769K	10x
Binance CRCLUSDT	+0.0078%	8h	92.073	+0.243%	$105.1M	$393.1M	50x	as long as short
OKX CRCL-USDT-SWAP	+0.0078%	8h	92.100	+0.272%	$21.7M	$60.3M	50x	as long as short
Extended CRCL_24_5-USD	+0.0080%	1h	92.047	+0.214%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0081%	8h	92.070	+0.239%	$1.1M	$4.9M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0084%	8h	92.039	+0.205%	$755	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.980	+0.142%	$129K	$154K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.070	+0.240%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.780	−0.076%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.040	+0.207%	$918	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.085	+0.256%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0178%	1h	92.063	+0.232%	$131K	$103K	3x	as long as short
Lighter CRCL	+0.0200%	1h	92.142	+0.318%	$3.0M	$2.4M	10x	as long as short
BloFin CRCL-USDT	+0.0222%	8h	92.330	+0.523%	$1.1M	$1.1M	20x	as long as short
Phoenix CRCL	+0.0231%	1h	91.730	−0.131%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.270	+0.457%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0565%	4h	91.735	−0.125%	$23K	$267K	10x	as long as short