CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0068%/8h= −7.4% APRnext payment −$0.09 per $10,000 · paid last 24h −0.020%

Price spread now: Lighter RH against Pacifica+0.038%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$520.525% of the position

Long on Pacifica Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.097%−$10 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now +0.038%, 7d avg +0.034%

Together, before fees−0.088%+ Points / potential airdropPacifica: Active · Lighter RH: Points live · farm board−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.034%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica CRCL	91.951	0.0100	pay 0.0013% / 1h	6m 25s	$136K	$160K	10x
Short	Lighter RH CRCL	91.986	0.0032	get 0.0004% / 1h	6m 25s	$975K	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$14.28
Price spread: +0.038% → +0.034%: $0.39
Slippage, 4 orders: −$44.45
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$66.34
Costs to cover: 0.525%
Break-even: never at this rate

Slippage from Pacifica: live order book, 27 min ago; Lighter RH: live order book, 2 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, 27 min ago	6.53 bp	17.8 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH live order book, 2 min ago	2.83 bp	2.9 bp −$3	4.8 bp −$48	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	−0.0679%	8h	91.990	+0.042%	$16.7M	$35.8M	25x	as long as short
Vest CRCL-USD-PERP	−0.0062%	1h	91.680	−0.295%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.940	−0.012%	$14.8M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.020	+0.075%	$7.4M	$27.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.848	−0.112%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.820	−0.143%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0013%	8h	91.947	−0.005%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0023%	8h	91.959	+0.008%	$104.8M	$392.7M	50x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	91.936	−0.017%	$1.2M	$5.6M	10x	as long as short
Lighter RH CRCLshort	+0.0032%	1h	91.986	+0.038%	$975K	$2.9M	10x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0039%	1h	91.863	−0.096%	$2K	$26K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.820	−0.143%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.770	−0.197%	$914K	$522K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.874	−0.084%	$68.2M	$42.3M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.923	−0.031%	$386K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.911	−0.044%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.650	−0.328%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.950	−0.001%	$1.3M	$1.9M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0074%	8h	91.931	−0.022%	$423	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0084%	8h	91.800	−0.165%	$70K	$1.1M	10x	as long as short
BloFin CRCL-USDT	+0.0085%	8h	91.840	−0.121%	$1.1M	$1.6M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0097%	8h	91.970	+0.020%	$22.3M	$61.9M	50x	as long as short
Pacifica CRCLlong	+0.0100%	1h	91.951	long leg	$136K	$160K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	91.880	−0.078%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.740	−0.230%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.930	−0.023%	$917	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.932	−0.021%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.950	−0.001%	$419K	$299K	10x	as long as short
Phoenix CRCL	+0.0182%	1h	91.797	−0.168%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0248%	1h	91.978	+0.029%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0347%	1h	91.834	−0.128%	$134K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.444%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0730%	1h	91.930	−0.023%	$4K	$768K	10x	as long as short
edgeX CRCLUSDC	+0.0757%	4h	91.849	−0.111%	$51K	$276K	10x	as long as short