Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0090%/8h= +9.9% APRpaid last 24h +0.033%

Price spread now: Injective against BloFin+1.263%7-day average — · you sell dearer than you buy

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

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.322%+$32 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 +$3 a day on $10k at the current rate, and Injective is 1.263% dearer against BloFin than usual: you sell high and buy low: +$126 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	BloFin CRCL-USDT	91.020	0.0350	pay 0.0350% / 8h	7h 32m	$1.1M	$1.7M	20x
Short	Injective CRCL/USDC PERP	92.170	0.0440	get 0.0055% / 1h	32m 42s	$5K	$19K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now +1.263%Rate

Funding earned: $18.91
Price spread: +1.263% → 0.000%: $126.35
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $133.24
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: BloFin: live order book, 5 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 BloFin live order book, 5 min ago	1.10 bp	7.6 bp −$8	12.0 bp −$120	31.3 bp −$3,132	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
Vest CRCL-USD-PERP	−0.0096%	1h	90.850	−0.187%	—	$31K	25x	as long as short
Bitget CRCLUSDT	−0.0066%	8h	91.090	+0.077%	$17.3M	$36.2M	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.070	+0.055%	$15.0M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.070	+0.055%	$7.8M	$26.4M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.060	+0.044%	$1.0M	$47K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.061	+0.045%	$980K	$2.4M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	91.100	+0.088%	$872K	$504K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.103	+0.091%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.000	−0.022%	$94K	$283K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	90.974	−0.051%	$67.0M	$44.3M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps CRCL-USD	+0.0050%	1h	90.972	−0.053%	$376K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.050	+0.033%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	90.990	−0.033%	$1.1M	$4.7M	10x	as long as short
QFEX CRCL-USD	+0.0065%	1h	91.080	+0.066%	$1.3M	$1.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.020	0.000%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.060	+0.044%	$2.6M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.120	+0.110%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.040	+0.022%	$908	$1K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0104%	8h	91.175	+0.171%	$71K	$1.1M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.065	+0.049%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0132%	8h	91.054	+0.038%	$419	$766	5x	as long as short
Variational Omni CRCL	+0.0152%	8h	91.180	+0.176%	$2.4M	$3.3M	—	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0190%	1h	91.050	+0.033%	$5K	$769K	10x	as long as short
Aster CRCLUSDT	+0.0213%	8h	91.080	+0.066%	$1.0M	$5.0M	20x	as long as short
Lighter CRCL	+0.0224%	1h	91.072	+0.057%	$2.9M	$2.1M	10x	as long as short
Binance CRCLUSDT	+0.0228%	8h	91.040	+0.022%	$104.7M	$386.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0232%	1h	90.988	−0.035%	$1.1M	$5.1M	10x	as long as short
Phoenix CRCL	+0.0254%	1h	91.098	+0.086%	$27K	$66K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0292%	8h	91.030	+0.011%	$22.3M	$61.3M	50x	as long as short
BloFin CRCL-USDTlong	+0.0350%	8h	91.020	long leg	$1.1M	$1.7M	20x
Nado CRCL-PERP	+0.0370%	1h	90.969	−0.056%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERPshort	+0.0440%	1h	92.170	+1.263%	$5K	$19K	30x
RISEx CRCL/USDC	+0.0501%	1h	91.066	+0.050%	$411K	$257K	10x	as long as short
edgeX CRCLUSDC	+0.0936%	4h	91.171	+0.166%	$52K	$270K	10x	as long as short