Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0440%/8h= +48.2% APRpaid last 24h +0.107%

Price spread now: Injective against GRVT+0.647%7-day average — · you sell dearer than you buy

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

Long on GRVT Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.661%+$66 on $10k

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

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Injective is 0.647% dearer against GRVT than usual: you sell high and buy low: +$65 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	GRVT CRCL_USDT_Perp	91.906	0	get 0.0000% / 8h	6h 20m	$63K	$1.1M	10x
Short	Injective CRCL/USDC PERP	92.500	0.0440	get 0.0055% / 1h	20m 40s	$5K	$19K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against GRVT. 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 GRVTbpFee InjectivebpOrdersPrice spread, now +0.647%Rate

Funding earned: $92.4
Price spread: +0.647% → 0.000%: $64.67
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $148.05
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: GRVT: 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 GRVT live order book, 2 min ago	0.54 bp	7.8 bp −$8	16.5 bp −$165	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 33 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	−0.0732%	8h	91.800	−0.115%	$15.9M	$35.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0031%	1h	91.740	−0.180%	—	$40K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.730	−0.191%	$913K	$581K	10x	as long as short
Gate CRCL_USDT	−0.0005%	8h	91.690	−0.235%	$7.1M	$26.7M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.700	−0.224%	$15.0M	$25.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.662	−0.265%	$419K	$299K	10x	as long as short
Variational Omni CRCL	0.0000%	8h	91.938	+0.035%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perplong	0.0000%	8h	91.906	long leg	$63K	$1.1M	10x
Phemex CRCLUSDT	0.0000%	4h	91.930	+0.027%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0025%	1h	91.988	+0.090%	$2K	$23K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	91.701	−0.223%	$975K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.900	−0.006%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.625	−0.305%	$68.9M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.880	−0.028%	$355K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.890	−0.017%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.770	−0.148%	$999K	$5.5M	10x	as long as short
Binance CRCLUSDT	+0.0053%	8h	91.662	−0.266%	$104.6M	$393.6M	50x	as long as short
Extended CRCL_24_5-USD	+0.0056%	1h	91.638	−0.292%	$1.1M	$5.7M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.850	−0.061%	$1.3M	$2.3M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0060%	8h	91.720	−0.202%	$21.7M	$60.1M	50x	as long as short
Aster CRCLUSDT	+0.0063%	8h	91.772	−0.146%	$1.1M	$4.9M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0074%	8h	91.663	−0.264%	$752	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.696	−0.228%	$128K	$153K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.720	−0.202%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.900	−0.006%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.910	+0.005%	$916	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.935	+0.032%	$4	—	10x	as long as short
edgeX CRCLUSDC	+0.0141%	4h	91.897	−0.009%	$23K	$267K	10x	as long as short
Nado CRCL-PERP	+0.0156%	1h	91.925	+0.021%	$131K	$103K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0185%	1h	91.930	+0.027%	$4K	$769K	10x	as long as short
Lighter CRCL	+0.0208%	1h	91.708	−0.215%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	91.850	−0.061%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERPshort	+0.0440%	1h	92.500	+0.647%	$5K	$19K	30x