CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0009%/8h= −1.0% APRnext payment −$0.01 per $10,000 · paid last 24h +0.045%

Price spread now: Extended against QFEX+0.025%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$250.249% of the position

Long on QFEX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.033%+$3 on $10k

Price spread, last 4 days (all we have)+0.066%+$7 · spread now +0.025%, 7d avg −0.011%

Together, before fees+0.099%+ Points / potential airdropExtended: Active · farm board+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.036% dearer against QFEX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRCL-USD	91.970	0.0057	pay 0.0007% / 1h	14m 58s	$1.3M	$2.3M	10x
Short	Extended CRCL_24_5-USD	91.993	0.0048	get 0.0006% / 1h	14m 58s	$1.1M	$5.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against QFEX. 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 QFEXbpFee ExtendedbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$1.88
Price spread: +0.025% → −0.011%: $3.56
Slippage, 4 orders: −$9.86
Fee QFEX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$23.18
Costs to cover: 0.249%
Break-even: never at this rate

Slippage from QFEX: live order book, 2 min ago; Extended: live order book, 4 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 QFEX live order book, 2 min ago	2.17 bp	7.2 bp −$7	7.6 bp −$76	doesn't fit	doesn't fit
Sell Extended live order book, 4 min ago	0.49 bp	5.3 bp −$5	40.7 bp −$407	doesn't fit	doesn't fit

CRCL on 33 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	−0.0835%	8h	92.120	+0.163%	$16.1M	$35.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0042%	1h	91.800	−0.185%	—	$40K	25x	as long as short
Gate CRCL_USDT	−0.0012%	8h	92.060	+0.098%	$7.1M	$26.8M	50x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.700	−0.294%	$913K	$580K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.040	+0.076%	$15.0M	$25.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.974	+0.005%	$420K	$299K	10x	as long as short
Variational Omni CRCL	0.0000%	8h	91.928	−0.046%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.730	−0.261%	$69K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.010	+0.043%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0024%	1h	91.908	−0.068%	$2K	$23K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	92.063	+0.101%	$975K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.890	−0.087%	$93K	$273K	10x	as long as short
Extended CRCL_24_5-USDshort	+0.0048%	1h	91.993	+0.025%	$1.1M	$5.7M	10x
Binance CRCLUSDT	+0.0050%	8h	92.014	+0.047%	$104.9M	$394.3M	50x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.991	+0.023%	$69.1M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.952	−0.020%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.995	+0.027%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.730	−0.261%	$999K	$5.5M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0056%	8h	92.040	+0.076%	$21.8M	$60.5M	50x	as long as short
QFEX CRCL-USDlong	+0.0057%	1h	91.970	long leg	$1.3M	$2.3M	10x
Aster CRCLUSDT	+0.0059%	8h	92.038	+0.074%	$1.1M	$4.9M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0073%	8h	91.975	+0.006%	$754	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.982	+0.013%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.000	+0.033%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.720	−0.272%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.000	+0.033%	$917	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.014	+0.048%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0153%	1h	91.972	+0.002%	$131K	$104K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0185%	1h	92.040	+0.076%	$4K	$769K	10x	as long as short
Lighter CRCL	+0.0200%	1h	92.073	+0.112%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	91.952	−0.020%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.500	+0.576%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0678%	4h	91.707	−0.286%	$23K	$268K	10x	as long as short