Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0440%/8h= +48.2% APRpaid last 24h +0.083%

Price spread now: Injective against Gate+0.699%99s7-day average — · you sell dearer than you buy

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

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.588%+$59 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 +$13 a day on $10k at the current rate, and Injective is 0.699% dearer against Gate than usual: you sell high and buy low: +$70 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 99 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CRCL_USDT	91.560	0	get 0.0000% / 8h	5h 37m	$7.1M	$26.6M	50x
Short	Injective CRCL/USDC PERP	92.200	0.0440	get 0.0055% / 1h	37m 29s	$5K	$19K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Gate. 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 GatebpFee InjectivebpOrdersPrice spread, now +0.699%Rate

Funding earned: $92.4
Price spread: +0.699% → 0.000%: $69.9
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $147.28
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Gate: live order book, 1 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 Gate live order book, 1 min ago	3.28 bp	20.4 bp −$20	35.2 bp −$352	doesn't fit	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 CRCLUSDT	−0.1323%	8h	91.630	+0.076%	$15.7M	$34.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0076%	1h	91.310	−0.273%	—	$35K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.450	−0.120%	$902K	$527K	10x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.542	−0.019%	$1.1M	$5.7M	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.600	+0.044%	$14.9M	$25.7M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.573	+0.014%	$418K	$297K	10x	as long as short
Gate CRCL_USDTlong	0.0000%	8h	91.560	long leg	$7.1M	$26.6M	50x
Variational Omni CRCL	0.0000%	8h	91.517	−0.047%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.574	+0.015%	$65K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.550	−0.011%	$1.0M	$49K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CRCLUSDT	+0.0002%	8h	91.569	+0.010%	$104.2M	$384.2M	50x	as long as short
Aster CRCLUSDT	+0.0012%	8h	91.559	−0.001%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0015%	8h	91.610	+0.055%	$21.5M	$59.3M	50x	as long as short
BloFin CRCL-USDT	+0.0019%	8h	91.530	−0.033%	$1.1M	$1.3M	20x	as long as short
Aftermath Perps CRCLUSD	+0.0021%	1h	91.460	−0.110%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.540	−0.022%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.582	+0.024%	$973K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.520	−0.044%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.543	−0.019%	$68.4M	$41.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.572	+0.013%	$355K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.561	+0.001%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.470	−0.098%	$999K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0068%	8h	91.573	+0.014%	$751	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.520	−0.044%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.580	+0.022%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.530	−0.033%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.560	0.000%	$913	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.574	+0.015%	$4	—	10x	as long as short
Phoenix CRCL	+0.0183%	1h	91.480	−0.087%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0187%	1h	91.505	−0.060%	$130K	$104K	3x	as long as short
Lighter CRCL	+0.0232%	1h	91.584	+0.026%	$2.9M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0296%	1h	91.590	+0.033%	$4K	$767K	10x	as long as short
edgeX CRCLUSDC	+0.0316%	4h	91.583	+0.025%	$23K	$267K	10x	as long as short
Injective CRCL/USDC PERPshort	+0.0440%	1h	92.200	+0.699%	$5K	$19K	30x