Spread before costs (cost unknown: a leg has no order-book sample)−0.285%
7d average—if it closes, per $10,000$29funding while held, a day+$2.97
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix CRCL | 94.817 | 0.0204 | pay 0.0026% / 1h | 36m 44s | $28K | $92K | 10x |
| Short | Nado CRCL-PERP | 94.547 | 0.0303 | get 0.0038% / 1h | 36m 44s | $132K | $78K | 3x |
Phoenix CRCL
Nado CRCL-PERPPrice 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
- −$28.52
- Funding while held
- $2.97
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$39.55
- Spread needed to break even
- 0.140%
Slippage unknown: Phoenix: no order-book sample; Nado: live order book, 7 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0099%
- Per $10,000 a day
- +$2.97
- 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 Nado live order book, 7 min ago | 3.69 bp | 11.8 bp −$12 | 23.1 bp −$231 | 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 price on every exchange
against the cheapest. Click to use as the short leg.Nado94.547cheapest
Vest94.560+0.014%Phemex94.620+0.078%QFEX94.630+0.088%Ondo Perps94.650+0.109%Polymarket Perps94.658+0.118%Arcus94.680+0.141%ApeX Omni94.680+0.141%Aftermath Perps94.682+0.143%Paradex94.702+0.164%tradeXYZ94.702+0.164%Binance94.710+0.173%RISEx94.720+0.183%Bitget94.720+0.183%Orderly94.720+0.183%Pacifica94.727+0.191%Aster94.730+0.194%Bybit94.730+0.194%KuCoin94.730+0.194%Coinbase International94.730+0.194%Lighter RH94.733+0.197%Variational Omni94.734+0.198%Extended94.740+0.204%OKX94.740+0.205%SoDEX94.740+0.205%edgeX94.750+0.215%Lighter94.750+0.215%Gate94.750+0.215%BloFin94.750+0.215%Deribit94.760+0.226%Aevo94.761+0.226%
Vest
Phemex
QFEX
Ondo Perps
Polymarket Perps
Arcus
ApeX Omni
Paradex
tradeXYZ
Binance
RISEx
Bitget
Orderly
Pacifica
Aster
Bybit
KuCoin
Coinbase International
Lighter RH
Variational Omni
Extended
OKX
SoDEX
Lighter
Gate
BloFin
Deribit
AevoPhoenix94.817+0.286%
Injective95.100+0.585%
InjectiveCRCL on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Nado CRCL-PERPshort | −0.285% | +0.0303% | 1h | $132K | $78K | 3x | |
| Vest CRCL-USD-PERP | −0.271% | +0.0039% | 1h | — | $45K | 25x | as long as short |
| Phemex CRCLUSDT | −0.208% | 0.0000% | 4h | $1.0M | $45K | 10x | as long as short |
| QFEX CRCL-USD | −0.197% | +0.0049% | 1h | $1.4M | $2.6M | 10x | as long as short |
| Ondo Perps CRCL-USD.P | −0.176% | +0.0050% | 1h | $1.1M | $5.7M | 10x | as long as short |
| Polymarket Perps CRCL-USD | −0.168% | +0.0050% | 1h | $357K | $1.1M | 10x | as long as short |
| Arcus CRCL-USD | −0.144% | +0.0427% | 1h | $106K | $250K | 10x | as long as short |
| ApeX Omni CRCLUSDT | −0.144% | +0.0100% | 1h | $70K | $7K | 50x | as long as short |
| Aftermath Perps CRCLUSD | −0.142% | +0.0316% | 1h | $2K | $13K | 5x | as long as short |
| Paradex CRCL-USD-PERP | −0.121% | +0.0088% | 8h | $720 | $428 | 5x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:CRCL | −0.121% | +0.0085% | 1h | $71.4M | $40.0M | 10x | as long as short |
| Binance CRCLUSDT | −0.113% | +0.0169% | 8h | $107.4M | $352.2M | 50x | as long as short |
| RISEx CRCL/USDC | −0.102% | +0.0124% | 1h | $405K | $336K | 10x | as long as short |
| Bitget CRCLUSDT | −0.102% | +0.0272% | 8h | $16.7M | $33.0M | 25x | as long as short |
| Orderly PERP_CRCL_USDC_mythos | −0.102% | +0.0100% | 8h | $944 | $3K | 10x | as long as short |
| Pacifica CRCL | −0.095% | +0.0100% | 1h | $76K | $98K | 10x | as long as short |
| Aster CRCLUSDT | −0.092% | +0.0160% | 8h | $1.1M | $4.6M | 20x | as long as short |
| Bybit CRCLUSDT | −0.092% | +0.0123% | 8h | $15.5M | $23.3M | 50x | as long as short |
| KuCoin CRCLUSDTM | −0.092% | +0.0240% | 8h | $2.9M | $1.4M | 20x | as long as short |
| Coinbase International CRCL-PERP-INTX | −0.092% | +0.0080% | 1h | $942K | $798K | 10x | as long as short |
| Lighter RH CRCL | −0.089% | +0.0032% | 1h | $795K | $2.7M | 10x | as long as short |
| Variational Omni CRCL | −0.088% | +0.0094% | 8h | $2.2M | $2.9M | — | as long as short |
| Extended CRCL_24_5-USD | −0.082% | +0.0168% | 1h | $1.0M | $3.1M | 10x | as long as short |
| OKX CRCL-USDT-SWAP | −0.081% | +0.0206% | 8h | $22.8M | $55.7M | 50x | as long as short |
| SoDEX CRCL-USD | −0.081% | +0.0050% | 1h | $48K | $3K | 10x | as long as short |
| edgeX CRCLUSDC | −0.071% | +0.0686% | 4h | $24K | $265K | 10x | as long as short |
| Lighter CRCL | −0.071% | +0.0280% | 1h | $2.9M | $2.0M | 10x | as long as short |
| Gate CRCL_USDT | −0.071% | 0.0000% | 8h | $7.1M | $25.3M | 50x | as long as short |
| BloFin CRCL-USDT | −0.071% | +0.0290% | 8h | $1.1M | $585K | 20x | as long as short |
| Deribit CRCL_USDC-PERPETUAL | −0.060% | +0.0595% | 1h | $4K | $802K | 10x | as long as short |
| Aevo CRCL-PERP | −0.059% | +0.0104% | 1h | $4 | — | 10x | as long as short |
| Phoenix CRCLlong | 0.000% | +0.0204% | 1h | $28K | $92K | 10x | |
| Injective CRCL/USDC PERP | +0.298% | +0.0440% | 1h | $5K | $76K | 30x | as long as short |