Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0267%/8hpaid last 24h +0.105%

Price spread now: Injective against Binance+0.734%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.629%+$63 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Injective is 0.734% dearer against Binance than usual: you sell high and buy low: +$73 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CRCLUSDT	94.050	0.0173	pay 0.0173% / 8h	4h 06m	$108.1M	$379.0M	50x
Short	Injective CRCL/USDC PERP	94.740	0.0440	get 0.0055% / 1h	6m 51s	$5K	$20K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. 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 BinancebpFee InjectivebpOrdersPrice spread, now +0.734%Rate

Funding earned: $55.99
Price spread: +0.734% → 0.000%: $73.37
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $119.33
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 11 min ago; Injective: no order-book sample. Net counts fees only.

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 Binance live order book, 11 min ago	0.53 bp	6.9 bp −$7	10.8 bp −$108	30.4 bp −$3,037	127.7 bp −$63.8K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 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
Gate CRCL_USDT	0.0000%	8h	94.170	+0.128%	$7.1M	$26.9M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.250	+0.213%	$1.0M	$49K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.222	+0.183%	$811K	$2.8M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.140	+0.096%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.225	+0.186%	$355K	$1.0M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.215	+0.175%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.240	+0.202%	$1.1M	$5.7M	10x	as long as short
QFEX CRCL-USD	+0.0071%	1h	94.260	+0.223%	$1.4M	$2.6M	10x	as long as short
Bybit CRCLUSDT	+0.0077%	8h	94.010	−0.043%	$15.4M	$25.7M	50x	as long as short
tradeXYZ xyz:CRCL	+0.0090%	1h	93.976	−0.079%	$70.7M	$41.5M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica CRCL	+0.0100%	1h	94.226	+0.187%	$77K	$97K	10x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.230	+0.191%	$69K	$5K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.250	+0.213%	$940	$3K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0100%	8h	94.219	+0.180%	$716	$428	5x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.377	+0.348%	$4	—	10x	as long as short
KuCoin CRCLUSDTM	+0.0107%	8h	94.110	+0.064%	$2.9M	$1.7M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0108%	8h	94.572	+0.555%	$54K	$1.2M	10x	as long as short
Variational Omni CRCL	+0.0121%	8h	94.605	+0.590%	$2.5M	$3.2M	—	as long as short
Coinbase International CRCL-PERP-INTX	+0.0144%	1h	94.270	+0.234%	$942K	$726K	10x	as long as short
Phoenix CRCL	+0.0162%	1h	94.547	+0.528%	$28K	$92K	10x	as long as short
Aster CRCLUSDT	+0.0164%	8h	94.228	+0.189%	$1.1M	$4.7M	20x	as long as short
Binance CRCLUSDTlong	+0.0173%	8h	94.050	long leg	$108.1M	$379.0M	50x
Extended CRCL_24_5-USD	+0.0176%	1h	94.133	+0.088%	$1.2M	$3.5M	10x	as long as short
RISEx CRCL/USDC	+0.0224%	1h	94.260	+0.223%	$418K	$301K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0292%	8h	94.020	−0.032%	$22.8M	$59.1M	50x	as long as short
BloFin CRCL-USDT	+0.0293%	8h	94.320	+0.287%	$1.1M	$573K	20x	as long as short
Lighter CRCL	+0.0328%	1h	94.254	+0.217%	$2.9M	$2.1M	10x	as long as short
Nado CRCL-PERP	+0.0334%	1h	94.167	+0.124%	$131K	$67K	3x	as long as short
Aftermath Perps CRCLUSD	+0.0363%	1h	94.383	+0.354%	$2K	$17K	5x	as long as short
Bitget CRCLUSDT	+0.0426%	8h	94.010	−0.043%	$16.8M	$34.5M	25x	as long as short
Injective CRCL/USDC PERPshort	+0.0440%	1h	94.740	+0.734%	$5K	$20K	30x
Deribit CRCL_USDC-PERPETUAL	+0.0600%	1h	94.240	+0.202%	$4K	$802K	10x	as long as short
Arcus CRCL-USD	+0.0748%	1h	94.230	+0.191%	$100K	$258K	10x	as long as short
edgeX CRCLUSDC	+0.0920%	4h	94.340	+0.308%	$24K	$265K	10x	as long as short