CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0214%/8h= −23.4% APRnext payment −$0.27 per $10,000 · paid last 24h +0.015%

Price spread now: Arcus against Phoenix+0.744%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Arcus is 0.744% dearer against Phoenix than usual: you sell high and buy low (spread +0.744% now, against zero (this spread has no 7-day history yet)): +$74 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix CRCL	91.817	0.0254	pay 0.0032% / 1h	16m 51s	$27K	$66K	10x
Short	Arcus CRCL-USD	92.500	0.0040	get 0.0005% / 1h	16m 51s	$97K	$276K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Phoenix. 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 PhoenixbpFee ArcusbpOrdersPrice spread, now +0.744%Rate

Funding earned: −$44.93
Price spread: +0.744% → 0.000%: $74.39
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $17.96
Costs to cover: 0.115%
Break-even: from the start

Slippage unknown: Phoenix: no order-book sample; Arcus: live order book, 17 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 Phoenix no order-book sample	—	—	—	—	—
Sell Arcus live order book, 17 min ago	2.20 bp	5.5 bp −$5	5.5 bp −$55	doesn't fit	doesn't fit

Phoenix: 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
Vest CRCL-USD-PERP	−0.0100%	1h	92.190	+0.406%	—	$31K	25x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.480	+0.722%	$17.9M	$35.9M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.520	+0.766%	$1.0M	$46K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.511	+0.756%	$997K	$2.4M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	92.390	+0.624%	$945K	$575K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0035%	1h	91.738	−0.086%	$2K	$29K	5x	as long as short
Arcus CRCL-USDshort	+0.0040%	1h	92.500	+0.744%	$97K	$276K	10x
tradeXYZ xyz:CRCL	+0.0050%	1h	92.420	+0.657%	$67.9M	$43.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.380	+0.613%	$382K	$998K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.420	+0.657%	$1.1M	$4.6M	10x	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	+0.0065%	1h	92.540	+0.787%	$1.4M	$1.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.519	+0.765%	$136K	$143K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.350	+0.581%	$2.6M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.010	+0.210%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.520	+0.766%	$922	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.540	+0.787%	$4	—	10x	as long as short
Gate CRCL_USDT	+0.0146%	8h	92.410	+0.646%	$7.8M	$26.8M	50x	as long as short
Paradex CRCL-USD-PERP	+0.0151%	8h	92.538	+0.786%	$426	$766	5x	as long as short
Bybit CRCLUSDT	+0.0163%	8h	92.470	+0.711%	$15.2M	$26.6M	50x	as long as short
Variational Omni CRCL	+0.0176%	8h	92.182	+0.397%	$2.4M	$3.3M	—	as long as short
Lighter CRCL	+0.0208%	1h	92.502	+0.746%	$3.0M	$2.1M	10x	as long as short
Phoenix CRCLlong	+0.0254%	1h	91.817	long leg	$27K	$66K	10x
Aster CRCLUSDT	+0.0260%	8h	92.461	+0.701%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0264%	1h	92.387	+0.621%	$1.1M	$5.1M	10x	as long as short
Binance CRCLUSDT	+0.0268%	8h	92.460	+0.700%	$106.4M	$384.9M	50x	as long as short
OKX CRCL-USDT-SWAP	+0.0301%	8h	92.480	+0.722%	$22.6M	$60.9M	50x	as long as short
Nado CRCL-PERP	+0.0355%	1h	92.323	+0.551%	$135K	$109K	3x	as long as short
BloFin CRCL-USDT	+0.0388%	8h	92.490	+0.733%	$1.1M	$1.7M	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.000	+0.199%	$39K	$172K	30x	as long as short
GRVT CRCL_USDT_Perp	+0.0489%	8h	92.132	+0.343%	$72K	$1.1M	10x	as long as short
RISEx CRCL/USDC	+0.0501%	1h	92.570	+0.820%	$418K	$255K	10x	as long as short
edgeX CRCLUSDC	+0.0642%	4h	92.077	+0.283%	$52K	$270K	10x	as long as short
SoDEX CRCL-USD	+0.0746%	1h	92.480	+0.722%	$46K	$3K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0832%	1h	92.530	+0.777%	$5K	$739K	10x	as long as short