CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0088%/8h= +9.6% APRnext payment +$0.11 per $10,000 · paid last 24h +0.082%

Price spread now: Deribit against Pacifica+0.063%7-day average +0.008% · 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−$71as in the Price arb table

costs, in and out, $10k−$760.762% of the position

Long on Pacifica Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.078%+$8 on $10k

Price spread, last 4 days (all we have)−0.091%−$9 · spread now +0.063%, 7d avg +0.008%

Together, before fees−0.013%+ Points / potential airdropPacifica: Active · farm board−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Deribit is 0.056% dearer against Pacifica than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica CRCL	91.332	0.0100	pay 0.0013% / 1h	28m 00s	$134K	$159K	10x
Short	Deribit CRCL_USDC-PERPETUAL	91.390	0.0188	get 0.0023% / 1h	28m 00s	$5K	$769K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Pacifica. 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 PacificabpFee DeribitbpOrdersPrice spread, now +0.063%Rate

Funding earned: $18.45
Price spread: +0.063% → +0.008%: $5.57
Slippage, 4 orders: −$61.19
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$52.16
Costs to cover: 0.762%
Break-even: 26.8 days

Slippage from Pacifica: live order book, 61 min ago; Deribit: live order book, 16 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 Pacifica live order book, 61 min ago	18.69 bp	30.6 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 16 min ago	6.02 bp	9.5 bp −$10	12.0 bp −$120	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	−0.0704%	8h	91.450	+0.129%	$17.5M	$37.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0088%	1h	91.130	−0.221%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.450	+0.129%	$14.7M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.450	+0.129%	$7.8M	$27.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.369	+0.040%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.380	+0.052%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.438	+0.116%	$977K	$2.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	91.306	−0.029%	$2K	$27K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.340	+0.009%	$95K	$291K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.403	+0.078%	$46K	$3K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.240	−0.101%	$1.1M	$5.2M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0056%	1h	91.200	−0.145%	$888K	$603K	10x	as long as short
QFEX CRCL-USD	+0.0068%	1h	91.400	+0.074%	$1.3M	$1.8M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0072%	1h	91.373	+0.045%	$67.6M	$44.4M	10x	as long as short
Aster CRCLUSDT	+0.0087%	8h	91.438	+0.116%	$1.0M	$5.1M	20x	as long as short
Pacifica CRCLlong	+0.0100%	1h	91.332	long leg	$134K	$159K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	91.350	+0.020%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.290	−0.046%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.380	+0.052%	$911	$2K	10x	as long as short
Binance CRCLUSDT	+0.0100%	8h	91.421	+0.097%	$104.5M	$397.3M	50x	as long as short
Extended CRCL_24_5-USD	+0.0104%	1h	91.376	+0.048%	$1.0M	$5.0M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.415	+0.091%	$4	—	10x	as long as short
Polymarket Perps CRCL-USD	+0.0128%	1h	91.390	+0.063%	$383K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0155%	8h	91.387	+0.061%	$420	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0187%	8h	91.389	+0.062%	$67K	$1.1M	10x	as long as short
Deribit CRCL_USDC-PERPETUALshort	+0.0188%	1h	91.390	+0.063%	$5K	$769K	10x
OKX CRCL-USDT-SWAP	+0.0198%	8h	91.460	+0.140%	$22.2M	$62.6M	50x	as long as short
BloFin CRCL-USDT	+0.0220%	8h	91.410	+0.085%	$1.1M	$1.7M	20x	as long as short
Phoenix CRCL	+0.0245%	1h	91.232	−0.110%	$27K	$82K	10x	as long as short
RISEx CRCL/USDC	+0.0271%	1h	91.400	+0.074%	$416K	$268K	10x	as long as short
Lighter CRCL	+0.0280%	1h	91.430	+0.107%	$2.9M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0405%	1h	91.352	+0.022%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.720	+0.425%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0857%	4h	91.319	−0.014%	$52K	$278K	10x	as long as short