CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0108%/8h= +11.8% APRnext payment +$0.13 per $10,000 · paid last 24h +0.060%

Price spread now: Lighter against Pacifica+0.063%7-day average +0.093% · you sell dearer than you buy

Net, funding: paid 7d − costs+$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$450.446% of the position

Long on Pacifica Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.587%+$59 on $10k

Price spread, last 4 days (all we have)+0.067%+$7 · spread now +0.063%, 7d avg +0.093%

Together, before fees+0.654%+ Points / potential airdropPacifica: Active · Lighter: Season 3 · farm board+$65 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.030% cheaper against Pacifica than usual: you would sell low and buy high (spread +0.063% now, against its 7-day average of +0.093%). If the spread goes back, that is −$3 on $10k: about 22 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.587% in total) that is about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica CRCL	92.050	0.0100	pay 0.0013% / 1h	13m 13s	$135K	$159K	10x
Short	Lighter CRCL	92.108	0.0208	get 0.0026% / 1h	13m 13s	$3.0M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.063%Rate

Funding earned: $22.68
Price spread: +0.063% → +0.093%: −$3.03
Slippage, 4 orders: −$36.64
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$25
Costs to cover: 0.446%
Break-even: 14.7 days

Slippage from Pacifica: live order book, 26 min ago; Lighter: live order book, 4 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, 26 min ago	8.19 bp	19.1 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	1.85 bp	2.0 bp −$2	13.5 bp −$135	45.3 bp −$4,533	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	−0.0952%	8h	92.150	+0.109%	$16.6M	$35.2M	25x	as long as short
Vest CRCL-USD-PERP	−0.0070%	1h	91.810	−0.261%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	92.030	−0.022%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	92.081	+0.034%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	92.099	+0.053%	$104.8M	$389.8M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.110	+0.065%	$14.9M	$26.4M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.105	+0.060%	$419K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.140	+0.098%	$7.2M	$27.3M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.929	−0.132%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	92.052	+0.003%	$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	92.010	−0.043%	$1.0M	$49K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.890	−0.174%	$907K	$491K	10x	as long as short
QFEX CRCL-USD	+0.0028%	1h	92.070	+0.022%	$1.3M	$2.0M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0032%	8h	92.120	+0.076%	$22.1M	$61.3M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.106	+0.061%	$976K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0036%	1h	91.940	−0.119%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.940	−0.120%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.023	−0.029%	$68.6M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.038	−0.013%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.071	+0.023%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.000	−0.054%	$1.0M	$5.1M	10x	as long as short
Pacifica CRCLlong	+0.0100%	1h	92.050	long leg	$135K	$159K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	92.020	−0.033%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.990	−0.065%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.070	+0.022%	$918	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.071	+0.023%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0106%	8h	92.078	+0.030%	$424	$905	5x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	92.090	+0.043%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	92.044	−0.007%	$27K	$83K	10x	as long as short
Lighter CRCLshort	+0.0208%	1h	92.108	+0.063%	$3.0M	$2.4M	10x
edgeX CRCLUSDC	+0.0223%	4h	91.994	−0.060%	$51K	$277K	10x	as long as short
Nado CRCL-PERP	+0.0306%	1h	91.955	−0.103%	$131K	$104K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.400	+0.380%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0728%	1h	92.080	+0.033%	$4K	$767K	10x	as long as short