CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0223%/8h= +24.4% APRnext payment +$0.28 per $10,000 · paid last 24h −0.078%

Price spread now: Extended against Injective−0.222%100s7-day average −0.921% · you buy dearer than you sell

Net, funding: paid 7d − costs−$118as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$640.636% of the position

Long on Injective Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.542%−$54 on $10k

Price spread, last 4 days (all we have)−0.232%−$23 · spread now −0.222%, 7d avg −0.921%

Together, before fees−0.774%+ Points / potential airdropExtended: Active · farm board−$77 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Extended is 0.700% dearer against Injective than usual: you sell high and buy low: +$70 more if the spread goes back to its 7-day average of −0.921%. Mind the row above: over the last 7 days funding on this pair cost −0.542%, so the current rate has only just turned in your favour. The two prices were read 100 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	Injective CRCL/USDC PERP	95.630	0.0033	pay 0.0004% / 1h	49m 43s	$39K	$172K	30x
Short	Extended CRCL_24_5-USD	95.418	0.0256	get 0.0032% / 1h	49m 43s	$1.1M	$4.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee ExtendedbpOrdersPrice spread, now −0.222%Rate

Funding earned: $46.76
Price spread: −0.222% → −0.921%: $69.96
Slippage, 4 orders: −$58.55
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $53.15
Costs to cover: 0.636%
Break-even: from the start

Slippage from Injective: live order book, 57 min ago; Extended: live order book, 2 min ago.

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 Injective live order book, 57 min ago	26.32 bp	26.3 bp −$26	32.1 bp −$321	77868.8 bp −$7.79M	429343.9 bp −$214.67M
Sell Extended live order book, 2 min ago	0.47 bp	5.4 bp −$5	28.5 bp −$285	doesn't fit	doesn't fit

CRCL on 34 exchanges

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
Coinbase International CRCL-PERP-INTX	−0.0024%	1h	95.490	−0.146%	$871K	$805K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	95.380	−0.261%	$15.7M	$28.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	95.440	−0.199%	$424K	$228K	10x	as long as short
Bitget CRCLUSDT	0.0000%	8h	95.470	−0.167%	$19.4M	$39.3M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	95.320	−0.324%	$1.1M	$47K	10x	as long as short
QFEX CRCL-USD	+0.0014%	1h	95.400	−0.241%	$1.4M	$1.7M	10x	as long as short
Gate CRCL_USDT	+0.0031%	8h	95.450	−0.188%	$7.7M	$26.5M	50x	as long as short
Injective CRCL/USDC PERPlong	+0.0033%	1h	95.630	long leg	$39K	$172K	30x
Aftermath Perps CRCLUSD	+0.0038%	1h	95.146	−0.506%	$2K	$29K	5x	as long as short
Lighter RH CRCL	+0.0040%	1h	95.423	−0.216%	$1.0M	$2.7M	10x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest CRCL-USD-PERP	+0.0046%	1h	95.690	+0.063%	—	$29K	25x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	95.234	−0.414%	$69.2M	$44.3M	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	95.470	−0.167%	$1.1M	$4.3M	10x	as long as short
Arcus CRCL-USD	+0.0057%	1h	95.360	−0.282%	$96K	$239K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	95.377	−0.264%	$142K	$151K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	95.300	−0.345%	$2.5M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	95.850	+0.230%	$98K	$26K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	95.440	−0.199%	$752	$2K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0104%	8h	95.298	−0.347%	$438	$477	5x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	95.562	−0.072%	$4	—	10x	as long as short
Phoenix CRCL	+0.0136%	1h	95.413	−0.227%	$28K	$94K	10x	as long as short
Variational Omni CRCL	+0.0157%	8h	95.650	+0.021%	$2.7M	$3.3M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0209%	8h	95.460	−0.178%	$23.5M	$67.1M	50x	as long as short
Extended CRCL_24_5-USDshort	+0.0256%	1h	95.418	−0.222%	$1.1M	$4.0M	10x
Binance CRCLUSDT	+0.0262%	8h	95.383	−0.258%	$111.9M	$392.8M	50x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0274%	1h	95.420	−0.220%	$5K	$415K	10x	as long as short
Aster CRCLUSDT	+0.0281%	8h	95.351	−0.291%	$1.2M	$4.8M	20x	as long as short
edgeX CRCLUSDC	+0.0287%	4h	95.658	+0.030%	$55K	$278K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0324%	8h	95.670	+0.042%	$66K	$1.0M	10x	as long as short
Nado CRCL-PERP	+0.0357%	1h	95.607	−0.024%	$153K	$93K	3x	as long as short
BloFin CRCL-USDT	+0.0375%	8h	95.540	−0.094%	$1.1M	$1.8M	20x	as long as short
Polymarket Perps CRCL-USD	+0.0393%	1h	95.700	+0.073%	$284K	$1.1M	10x	as long as short
Lighter CRCL	+0.0424%	1h	95.472	−0.165%	$3.3M	$2.4M	10x	as long as short
SoDEX CRCL-USD	+0.2373%	1h	95.462	−0.176%	$48K	$3K	10x	as long as short