CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0177%/8h= +19.4% APRnext payment +$0.22 per $10,000 · paid last 24h +0.067%

Price spread now: Lighter against QFEX+0.010%52s7-day average +0.105% · 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—prices read too far apart to compare

costs, in and out, $10k−$190.187% of the position

Long on QFEX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.142%+$14 on $10k

Price spread, last 7 days−0.002%$0 · spread now +0.010%, 7d avg +0.105%

Together, before fees+0.140%+ Points / potential airdropLighter: Season 3 · farm board+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.096% cheaper against QFEX than usual: you would sell low and buy high (spread +0.010% now, against its 7-day average of +0.105%). If the spread goes back, that is −$10 on $10k: about 43 hours of funding at the current rate (+$5 a day). The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRCL-USD	91.190	0.0071	pay 0.0009% / 1h	7m 39s	$1.3M	$1.7M	10x
Short	Lighter CRCL	91.199	0.0248	get 0.0031% / 1h	7m 39s	$2.9M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.010%Rate

Funding earned: $37.14
Price spread: +0.010% → +0.105%: −$9.56
Slippage, 4 orders: −$8.72
Fee QFEX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $8.86
Costs to cover: 0.187%
Break-even: 5.3 days

Slippage from QFEX: live order book, 4 min ago; Lighter: live order book, 5 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, 4 min ago	2.19 bp	7.2 bp −$7	8.1 bp −$81	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	1.86 bp	2.2 bp −$2	6.1 bp −$61	38.0 bp −$3,802	doesn't fit

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
Bitget CRCLUSDT	−0.0355%	8h	91.290	+0.110%	$17.4M	$36.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0082%	1h	90.890	−0.329%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.220	+0.033%	$7.8M	$28.0M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.220	+0.033%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.198	+0.009%	$982K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.150	−0.044%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.180	−0.011%	$95K	$296K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.170	−0.022%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.150	−0.044%	$1.1M	$4.8M	10x	as long as short
Bybit CRCLUSDT	+0.0061%	8h	91.220	+0.033%	$14.8M	$26.5M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USDlong	+0.0071%	1h	91.190	long leg	$1.3M	$1.7M	10x
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.070	−0.132%	$871K	$500K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0088%	1h	91.108	−0.090%	$67.2M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.150	−0.044%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.210	+0.022%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.120	−0.077%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.170	−0.022%	$909	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.199	+0.010%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0128%	8h	91.194	+0.004%	$2.4M	$3.3M	—	as long as short
Polymarket Perps CRCL-USD	+0.0153%	1h	91.167	−0.025%	$377K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0157%	8h	91.178	−0.014%	$419	$905	5x	as long as short
Aster CRCLUSDT	+0.0195%	8h	91.228	+0.041%	$1.0M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0208%	1h	91.160	−0.033%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0211%	8h	91.170	−0.022%	$104.7M	$389.2M	50x	as long as short
Phoenix CRCL	+0.0227%	1h	91.187	−0.003%	$27K	$74K	10x	as long as short
Lighter CRCLshort	+0.0248%	1h	91.199	+0.010%	$2.9M	$2.4M	10x
GRVT CRCL_USDT_Perp	+0.0250%	8h	91.217	+0.029%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0285%	8h	91.250	+0.066%	$22.3M	$61.7M	50x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0299%	1h	91.170	−0.022%	$5K	$769K	10x	as long as short
BloFin CRCL-USDT	+0.0329%	8h	91.200	+0.011%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0435%	1h	91.121	−0.076%	$133K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.740	+0.603%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.224	+0.038%	$412K	$268K	10x	as long as short
edgeX CRCLUSDC	+0.0810%	4h	91.207	+0.019%	$52K	$269K	10x	as long as short