CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0212%/8h= −23.2% APRnext payment −$0.26 per $10,000 · paid last 24h −0.091%

Price spread now: Phoenix against Injective−0.341%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Phoenix

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 against this trade now: funding costs −$6 a day on $10k at the current rate, and Phoenix is 0.341% cheaper against Injective than usual: you would sell low and buy high (−$34 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective CRCL/USDC PERP	94.830	0.0440	pay 0.0055% / 1h	10m 10s	$5K	$20K	30x
Short	Phoenix CRCL	94.507	0.0228	get 0.0029% / 1h	10m 10s	$28K	$92K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Injective. 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 InjectivebpFee PhoenixbpOrdersPrice spread, now −0.341%Rate

Funding earned: −$44.43
Price spread: −0.341% → 0.000%: −$34.06
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$85.51
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Phoenix: 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 Injective no order-book sample	—	—	—	—	—
Sell Phoenix no order-book sample	—	—	—	—	—

Injective and Phoenix: 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
RISEx CRCL/USDC	0.0000%	1h	94.425	−0.427%	$431K	$310K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.440	−0.411%	$7.2M	$27.8M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	94.483	−0.366%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.480	−0.369%	$50K	$1.2M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.500	−0.348%	$1.0M	$50K	10x	as long as short
QFEX CRCL-USD	+0.0020%	1h	94.420	−0.432%	$1.4M	$2.7M	10x	as long as short
Bybit CRCLUSDT	+0.0029%	8h	94.380	−0.475%	$15.5M	$25.9M	50x	as long as short
edgeX CRCLUSDC	+0.0031%	4h	94.519	−0.328%	$24K	$268K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.331	−0.526%	$880K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0043%	1h	94.433	−0.419%	$2K	$19K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CRCLUSDT	+0.0045%	8h	94.420	−0.432%	$108.4M	$389.3M	50x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.370	−0.485%	—	$45K	25x	as long as short
Extended CRCL_24_5-USD	+0.0048%	1h	94.444	−0.407%	$1.1M	$3.8M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	94.276	−0.584%	$70.8M	$42.9M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.316	−0.542%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.409	−0.444%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.360	−0.496%	$1.1M	$5.9M	10x	as long as short
Aster CRCLUSDT	+0.0081%	8h	94.363	−0.493%	$1.1M	$4.8M	20x	as long as short
Pacifica CRCL	+0.0100%	1h	94.419	−0.433%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.370	−0.485%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.350	−0.506%	$69K	$5K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.360	−0.496%	$941	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.329	−0.528%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0138%	8h	94.416	−0.437%	$774	$740	5x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0144%	1h	94.390	−0.464%	$939K	$743K	10x	as long as short
BloFin CRCL-USDT	+0.0161%	8h	94.450	−0.401%	$1.1M	$588K	20x	as long as short
Nado CRCL-PERP	+0.0201%	1h	94.302	−0.557%	$127K	$73K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0219%	8h	94.450	−0.401%	$22.8M	$60.7M	50x	as long as short
Phoenix CRCLshort	+0.0228%	1h	94.507	−0.341%	$28K	$92K	10x
Lighter CRCL	+0.0304%	1h	94.352	−0.504%	$3.1M	$2.4M	10x	as long as short
Bitget CRCLUSDT	+0.0325%	8h	94.440	−0.411%	$16.7M	$35.2M	25x	as long as short
Injective CRCL/USDC PERPlong	+0.0440%	1h	94.830	long leg	$5K	$20K	30x
Arcus CRCL-USD	+0.0560%	1h	94.410	−0.443%	$97K	$274K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.1341%	1h	94.420	−0.432%	$4K	$771K	10x	as long as short