Spread before costs (cost unknown: a leg has no order-book sample)−0.278%
7d average—if it closes, per $10,000$28funding while held, a day−$0.54
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix CRCL | 95.925 | 0.0259 | pay 0.0032% / 1h | 28m 33s | $28K | $68K | 10x |
| Short | Binance CRCLUSDT | 95.658 | 0.0242 | get 0.0242% / 8h | 1h 28m | $107.6M | $309.1M | 50x |
Phoenix CRCL
Binance CRCLUSDTPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- −$27.85
- Funding while held
- −$0.54
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$45.38
- Spread needed to break even
- 0.170%
Slippage unknown: Phoenix: no order-book sample; Binance: live order book, 2 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0018%
- Per $10,000 a day
- −$0.54
- Average in range /8h
- —
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 Binance live order book, 2 min ago | 0.52 bp | 5.9 bp −$6 | 10.2 bp −$102 | 23.0 bp −$2,303 | 103.9 bp −$52.0K |
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 price on every exchange
against the cheapest. Click to use as the short leg.Pacifica95.598cheapestQFEX95.610+0.013%Arcus95.620+0.023%Extended95.630+0.034%Aster95.640+0.044%
Pacifica
QFEX
Arcus
Extended
AsterBinance95.658+0.063%
Bybit95.660+0.065%Paradex95.664+0.070%tradeXYZ95.671+0.077%OKX95.680+0.086%Lighter RH95.690+0.097%Gate95.690+0.097%Lighter95.698+0.105%Deribit95.700+0.107%Bitget95.710+0.118%KuCoin95.730+0.139%SoDEX95.739+0.148%BloFin95.760+0.170%Aevo95.770+0.180%Orderly95.770+0.180%Nado95.837+0.250%Aftermath Perps95.850+0.264%Vest95.850+0.264%Polymarket Perps95.860+0.275%Phemex95.890+0.306%RISEx95.925+0.343%
Bybit
Paradex
tradeXYZ
OKX
Lighter RH
Gate
Lighter
Deribit
Bitget
KuCoin
SoDEX
BloFin
Aevo
Orderly
Nado
Vest
Polymarket Perps
Phemex
RISExPhoenix95.925+0.343%
Ondo Perps95.940+0.358%edgeX95.960+0.379%ApeX Omni95.990+0.411%Coinbase International95.990+0.411%Variational Omni95.992+0.413%Injective96.450+0.892%
Ondo Perps
ApeX Omni
Coinbase International
Variational Omni
InjectiveCRCL on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Pacifica CRCL | −0.341% | +0.0100% | 1h | $89K | $89K | 10x | as long as short |
| QFEX CRCL-USD | −0.328% | +0.0042% | 1h | $1.4M | $2.5M | 10x | as long as short |
| Arcus CRCL-USD | −0.318% | +0.0040% | 1h | $123K | $218K | 10x | as long as short |
| Extended CRCL_24_5-USD | −0.308% | +0.0240% | 1h | $1.0M | $3.0M | 10x | as long as short |
| Aster CRCLUSDT | −0.297% | +0.0251% | 8h | $1.3M | $4.1M | 20x | as long as short |
| Binance CRCLUSDTshort | −0.278% | +0.0242% | 8h | $107.6M | $309.1M | 50x | |
| Bybit CRCLUSDT | −0.276% | +0.0152% | 8h | $16.0M | $21.3M | 50x | as long as short |
| Paradex CRCL-USD-PERP | −0.272% | +0.0107% | 8h | $727 | $428 | 5x | as long as short |
| tradeXYZ xyz:CRCL | −0.265% | +0.0159% | 1h | $76.1M | $35.4M | 10x | as long as short |
| OKX CRCL-USDT-SWAP | −0.255% | +0.0221% | 8h | $22.7M | $50.9M | 50x | as long as short |