CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0115%/8h= +12.6% APRnext payment +$0.14 per $10,000 · paid last 24h +0.015%

Price spread now: Lighter against Phoenix−0.251%7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.507%+$51 on $10k

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

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding pays, the price is against you. Lighter is 0.251% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.251% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$25 on $10k: about 7.3 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.507% in total) that is about 3.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix CRCL	93.210	0.0197	pay 0.0025% / 1h	45m 14s	$28K	$66K	10x
Short	Lighter CRCL	92.976	0.0312	get 0.0039% / 1h	45m 14s	$3.0M	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.251%Rate

Funding earned: $24.07
Price spread: −0.251% → 0.000%: −$25.1
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$8.03
Costs to cover: 0.070%
Break-even: 9.3 days

Slippage unknown: Phoenix: no order-book sample; Lighter: live order book, 5 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 Lighter live order book, 5 min ago	1.07 bp	2.3 bp −$2	8.7 bp −$87	41.5 bp −$4,146	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 exchanges

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
Coinbase International CRCL-PERP-INTX	−0.0048%	1h	92.950	−0.279%	$869K	$749K	10x	as long as short
Vest CRCL-USD-PERP	−0.0001%	1h	92.860	−0.375%	—	$30K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.940	−0.290%	$15.0M	$25.1M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.980	−0.247%	$18.6M	$33.4M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.910	−0.322%	$1.0M	$45K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.954	−0.275%	$998K	$2.5M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	93.001	−0.224%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.836	−0.401%	$67.8M	$40.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.872	−0.363%	$382K	$847K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.905	−0.327%	$47K	$3K	10x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.810	−0.429%	$1.0M	$3.8M	10x	as long as short
QFEX CRCL-USD	+0.0055%	1h	92.890	−0.343%	$1.3M	$1.6M	10x	as long as short
Injective CRCL/USDC PERP	+0.0072%	1h	92.090	−1.202%	$38K	$172K	30x	as long as short
Gate CRCL_USDT	+0.0082%	8h	92.970	−0.257%	$7.5M	$25.3M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	92.860	−0.375%	$139K	$139K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.960	−0.268%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	93.030	−0.193%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.980	−0.247%	$927	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.928	−0.303%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0111%	8h	92.863	−0.372%	$427	$477	5x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0181%	1h	92.870	−0.365%	$5K	$415K	10x	as long as short
Phoenix CRCLlong	+0.0197%	1h	93.210	long leg	$28K	$66K	10x
Arcus CRCL-USD	+0.0214%	1h	92.880	−0.354%	$94K	$211K	10x	as long as short
edgeX CRCLUSDC	+0.0218%	4h	93.043	−0.180%	$53K	$270K	10x	as long as short
Nado CRCL-PERP	+0.0291%	1h	92.851	−0.385%	$155K	$94K	3x	as long as short
Variational Omni CRCL	+0.0306%	8h	93.001	−0.224%	$2.5M	$3.3M	—	as long as short
Lighter CRCLshort	+0.0312%	1h	92.976	−0.251%	$3.0M	$2.1M	10x
OKX CRCL-USDT-SWAP	+0.0315%	8h	92.980	−0.247%	$22.9M	$56.8M	50x	as long as short
Aster CRCLUSDT	+0.0379%	8h	93.013	−0.211%	$1.1M	$4.4M	20x	as long as short
Binance CRCLUSDT	+0.0390%	8h	92.920	−0.311%	$107.5M	$352.2M	50x	as long as short
Extended CRCL_24_5-USD	+0.0392%	1h	92.909	−0.323%	$1.1M	$4.0M	10x	as long as short
BloFin CRCL-USDT	+0.0512%	8h	92.930	−0.300%	$1.1M	$1.7M	20x	as long as short
RISEx CRCL/USDC	+0.0528%	1h	92.935	−0.295%	$417K	$234K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0773%	8h	93.081	−0.138%	$61K	$1.0M	10x	as long as short