CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0182%/8h= +19.9% APRnext payment +$0.23 per $10,000 · paid last 24h +0.065%

Price spread now: Nado against QFEX+0.025%7-day average −0.003% · 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−$26as in the Price arb table

costs, in and out, $10k−$280.284% of the position

Long on QFEX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.121%+$12 on $10k

Price spread, last 3 days (all we have)−0.016%−$2 · spread now +0.025%, 7d avg −0.003%

Together, before fees+0.105%+ Points / potential airdropNado: Active · farm board+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Nado is 0.027% dearer against QFEX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRCL-USD	93.250	0.0057	pay 0.0007% / 1h	57m 20s	$1.3M	$2.5M	10x
Short	Nado CRCL-PERP	93.273	0.0239	get 0.0030% / 1h	57m 20s	$154K	$89K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.025%Rate

Funding earned: $38.15
Price spread: +0.025% → −0.003%: $2.74
Slippage, 4 orders: −$11.37
Fee QFEX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $12.53
Costs to cover: 0.284%
Break-even: 4.7 days

Slippage from QFEX: live order book, 10 min ago; Nado: live order book, 10 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, 10 min ago	1.60 bp	6.6 bp −$7	7.4 bp −$74	15.9 bp −$1,591	doesn't fit
Sell Nado live order book, 10 min ago	1.60 bp	6.1 bp −$6	23.9 bp −$239	doesn't fit	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
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	93.200	−0.054%	$932K	$589K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	93.150	−0.107%	$15.3M	$25.5M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	93.280	+0.032%	$426K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	93.370	+0.129%	$7.2M	$25.5M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	93.290	+0.043%	$16.6M	$34.5M	25x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	93.497	+0.265%	$62K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	93.240	−0.011%	$1.0M	$49K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	93.341	+0.098%	$978K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	93.564	+0.337%	$2K	$22K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	93.470	+0.236%	$96K	$271K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest CRCL-USD-PERP	+0.0044%	1h	93.140	−0.118%	—	$37K	25x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	93.219	−0.033%	$70.9M	$41.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	93.264	+0.015%	$361K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	93.160	−0.097%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	93.410	+0.172%	$1.0M	$5.6M	10x	as long as short
QFEX CRCL-USDlong	+0.0057%	1h	93.250	long leg	$1.3M	$2.5M	10x
Variational Omni CRCL	+0.0059%	8h	93.569	+0.342%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0097%	8h	93.245	−0.005%	$765	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	93.298	+0.051%	$75K	$96K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	93.330	+0.086%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	93.450	+0.214%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	93.190	−0.064%	$929	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	93.129	−0.130%	$4	—	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0115%	8h	93.130	−0.129%	$22.6M	$58.3M	50x	as long as short
Aster CRCLUSDT	+0.0134%	8h	93.285	+0.038%	$1.1M	$4.9M	20x	as long as short
Binance CRCLUSDT	+0.0135%	8h	93.218	−0.034%	$107.5M	$386.1M	50x	as long as short
Extended CRCL_24_5-USD	+0.0136%	1h	93.189	−0.065%	$1.1M	$5.7M	10x	as long as short
Nado CRCL-PERPshort	+0.0239%	1h	93.273	+0.025%	$154K	$89K	3x
BloFin CRCL-USDT	+0.0257%	8h	93.160	−0.097%	$1.1M	$1.0M	20x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0287%	1h	93.100	−0.161%	$4K	$769K	10x	as long as short
Phoenix CRCL	+0.0296%	1h	93.327	+0.083%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0296%	1h	93.362	+0.120%	$3.0M	$2.3M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	93.910	+0.708%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0813%	4h	93.468	+0.234%	$24K	$266K	10x	as long as short