CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0262%/8h= +28.7% APRnext payment +$0.33 per $10,000 · paid last 24h +0.061%

Price spread now: Lighter against tradeXYZ+0.122%7-day average +0.122% · you sell dearer than you buy

Net, funding: paid 7d − costs+$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$290.286% of the position

Long on tradeXYZ Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.605%+$61 on $10k

Price spread, last 7 days−0.020%−$2 · spread now +0.122%, 7d avg +0.122%

Together, before fees+0.585%+ Points / potential airdroptradeXYZ: Active · Lighter: Season 3 · farm board+$59 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.122%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:CRCL	91.868	0.0050	pay 0.0006% / 1h	36m 46s	$68.2M	$41.7M	10x
Short	Lighter CRCL	91.980	0.0312	get 0.0039% / 1h	36m 46s	$3.0M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against tradeXYZ. 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 tradeXYZbpFee LighterbpOrdersPrice spread, now +0.122%Rate

Funding earned: $55.02
Price spread: +0.122% → +0.122%: $0.04
Slippage, 4 orders: −$10.56
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Lighter: 0 bp × 2 orders: $0
Net: $26.5
Costs to cover: 0.286%
Break-even: 3.6 days

Slippage from tradeXYZ: live order book, 3 min ago; Lighter: 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 tradeXYZ live order book, 3 min ago	1.14 bp	11.3 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 10 min ago	1.58 bp	1.8 bp −$2	5.8 bp −$58	40.8 bp −$4,076	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	−0.0711%	8h	92.010	+0.155%	$16.8M	$35.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0066%	1h	91.640	−0.248%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.970	+0.111%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.040	+0.187%	$7.3M	$27.3M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.849	−0.021%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.950	+0.089%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0012%	8h	91.981	+0.123%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0016%	1h	91.934	+0.072%	$1.2M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0019%	8h	91.950	+0.089%	$104.6M	$391.5M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.933	+0.071%	$2K	$25K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0040%	1h	91.974	+0.115%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.850	−0.020%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.890	+0.024%	$907K	$510K	10x	as long as short
tradeXYZ xyz:CRCLlong	+0.0050%	1h	91.868	long leg	$68.2M	$41.7M	10x
Polymarket Perps CRCL-USD	+0.0050%	1h	91.840	−0.030%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.922	+0.059%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.680	−0.205%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.910	+0.046%	$1.3M	$1.9M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0074%	8h	91.870	+0.003%	$70K	$1.1M	10x	as long as short
BloFin CRCL-USDT	+0.0075%	8h	91.920	+0.057%	$1.1M	$1.6M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0084%	8h	91.970	+0.111%	$22.3M	$61.6M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.891	+0.025%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.910	+0.046%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.770	−0.107%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.930	+0.067%	$917	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.965	+0.105%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.894	+0.029%	$418K	$299K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0133%	8h	91.891	+0.025%	$423	$905	5x	as long as short
Phoenix CRCL	+0.0182%	1h	91.828	−0.044%	$27K	$82K	10x	as long as short
Lighter CRCLshort	+0.0312%	1h	91.980	+0.122%	$3.0M	$2.4M	10x
Nado CRCL-PERP	+0.0375%	1h	91.826	−0.046%	$134K	$106K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.390	+0.568%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0839%	1h	91.960	+0.100%	$4K	$768K	10x	as long as short
edgeX CRCLUSDC	+0.0938%	4h	91.865	−0.003%	$51K	$276K	10x	as long as short