Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1380%/8h= +151.1% APRpaid last 24h +0.076%

Price spread now: Injective against Bitget+0.555%7-day average — · you sell dearer than you buy

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

Long on Bitget Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.490%+$49 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 +$41 a day on $10k at the current rate, and Injective is 0.555% dearer against Bitget than usual: you sell high and buy low: +$56 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.490% in total (about 25.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CRCLUSDT	91.820	−0.0940	get 0.0940% / 8h	4h 47m	$16.2M	$34.9M	25x
Short	Injective CRCL/USDC PERP	92.330	0.0440	get 0.0055% / 1h	47m 02s	$5K	$19K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bitget. 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 BitgetbpFee InjectivebpOrdersPrice spread, now +0.555%Rate

Funding earned: $289.8
Price spread: +0.555% → 0.000%: $55.54
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $333.32
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Bitget: live order book, 2 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 Bitget live order book, 2 min ago	1.63 bp	9.4 bp −$9	15.5 bp −$155	42.7 bp −$4,265	doesn't fit
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
Bitget CRCLUSDTlong	−0.0940%	8h	91.820	long leg	$16.2M	$34.9M	25x
Vest CRCL-USD-PERP	−0.0068%	1h	91.550	−0.294%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.788	−0.035%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.727	−0.101%	$1.1M	$5.6M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.760	−0.065%	$104.6M	$387.6M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.780	−0.044%	$15.0M	$26.3M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.801	−0.021%	$419K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.790	−0.033%	$7.3M	$26.9M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.929	+0.119%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.879	+0.064%	$64K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.790	−0.033%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0008%	8h	91.790	−0.033%	$22.0M	$60.5M	50x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.800	−0.022%	$906K	$490K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0028%	1h	91.870	+0.054%	$2K	$24K	5x	as long as short
QFEX CRCL-USD	+0.0028%	1h	91.750	−0.076%	$1.3M	$2.0M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.822	+0.002%	$973K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.930	+0.120%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.755	−0.071%	$68.5M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.762	−0.063%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.751	−0.075%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.790	−0.033%	$994K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0086%	8h	91.730	−0.098%	$422	$905	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.750	−0.076%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.760	−0.065%	$2.7M	$2.0M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.780	−0.044%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.750	−0.076%	$915	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.773	−0.051%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.820	0.000%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	91.884	+0.070%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0216%	1h	91.822	+0.002%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0308%	1h	91.699	−0.131%	$131K	$104K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0404%	1h	91.780	−0.044%	$4K	$767K	10x	as long as short
Injective CRCL/USDC PERPshort	+0.0440%	1h	92.330	+0.555%	$5K	$19K	30x
edgeX CRCLUSDC	+0.0952%	4h	91.850	+0.032%	$51K	$276K	10x	as long as short