Funding you earn now, next payment 11:00 UTC+0.0022%/8h= +2.4% APRnext payment +$0.03 per $10,000 · paid last 24h +0.109%
Price spread now: Injective against SoDEX−1.217%62s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Funding pays, the price is against you. Injective is 1.217% cheaper against SoDEX than usual: you would sell low and buy high (spread −1.217% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$122 on $10k: about 6 months of funding at the current rate (+$1 a day). The two prices were read 62 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 | SoDEX CRCL-USD | 93.225 | 0.0050 | pay 0.0006% / 1h | 49m 21s | $47K | $3K | 10x |
| Short | Injective CRCL/USDC PERP | 92.090 | 0.0072 | get 0.0009% / 1h | 49m 21s | $38K | $172K | 30x |
SoDEX CRCL-USD
Injective CRCL/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against SoDEX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $4.54
- Price spread: −1.217% → 0.000%
- −$121.75
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$125.23
- Costs to cover
- 0.080%
- Break-even
- 200.0 days
Slippage unknown: SoDEX: no order-book sample; Injective: live order book, 62 min ago. 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 SoDEX no order-book sample | — | — | — | — | — |
| Sell Injective live order book, 62 min ago | 21.77 bp | 21.8 bp −$22 | 30.8 bp −$308 | doesn't fit | doesn't fit |
SoDEX: 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 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 | −0.0048% | 1h | 92.950 | −0.295% | $869K | $749K | 10x | as long as short |
| Vest CRCL-USD-PERP | −0.0006% | 1h | 93.220 | −0.005% | — | $30K | 25x | as long as short |
| Bybit CRCLUSDT | 0.0000% | 8h | 93.250 | +0.027% | $15.1M | $25.1M | 50x | as long as short |
| Bitget CRCLUSDT | 0.0000% | 8h | 93.280 | +0.059% | $18.6M | $33.4M | 25x | as long as short |
| Phemex CRCLUSDT | 0.0000% | 4h | 93.230 | +0.005% | $1.0M | $45K | 10x | as long as short |
| Lighter RH CRCL | +0.0032% | 1h | 93.260 | +0.038% | $1.0M | $2.5M | 10x | as long as short |
| Aftermath Perps CRCLUSD | +0.0041% | 1h | 93.141 | −0.090% | $2K | $29K | 5x | as long as short |
| tradeXYZ xyz:CRCL | +0.0050% | 1h | 93.189 | −0.039% | $68.1M | $40.2M | 10x | as long as short |
| Polymarket Perps CRCL-USD | +0.0050% | 1h | 93.233 | +0.009% | $383K | $847K | 10x | as long as short |
| SoDEX CRCL-USDlong | +0.0050% | 1h | 93.225 | long leg | $47K | $3K | 10x |
Coinbase International CRCL-PERP-INTX
Vest CRCL-USD-PERP
Bybit CRCLUSDT
Bitget CRCLUSDT
Phemex CRCLUSDT
Lighter RH CRCL
Aftermath Perps CRCLUSD
tradeXYZ xyz:CRCL
Polymarket Perps CRCL-USDShow all 34 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps CRCL-USD.P | +0.0050% | 1h | 93.200 | −0.027% | $1.0M | $3.8M | 10x | as long as short |
| QFEX CRCL-USD | +0.0055% | 1h | 93.230 | +0.005% | $1.3M | $1.6M | 10x | as long as short |
| Injective CRCL/USDC PERPshort | +0.0072% | 1h | 92.090 | −1.217% | $38K | $172K | 30x | |
| Deribit CRCL_USDC-PERPETUAL | +0.0072% | 1h | 93.240 | +0.016% | $5K | $415K | 10x | as long as short |
| Gate CRCL_USDT | +0.0092% | 8h | 93.300 | +0.080% | $7.6M | $25.3M | 50x | as long as short |
| Pacifica CRCL | +0.0100% | 1h | 93.227 | +0.002% | $140K | $139K | 10x | as long as short |
| KuCoin CRCLUSDTM | +0.0100% | 8h | 93.200 | −0.027% | $2.6M | $1.6M | 20x | as long as short |
| ApeX Omni CRCLUSDT | +0.0100% | 1h | 93.110 | −0.123% | $68K | $4K | 50x | as long as short |
| Orderly PERP_CRCL_USDC_mythos | +0.0100% | 8h | 93.220 | −0.005% | $929 | $1K | 10x | as long as short |
| Aevo CRCL-PERP | +0.0104% | 1h | 93.266 | +0.044% | $4 | — | 10x | as long as short |
| Paradex CRCL-USD-PERP | +0.0116% | 8h | 93.241 | +0.018% | $429 | $477 | 5x | as long as short |
| Phoenix CRCL | +0.0197% | 1h | 93.210 | −0.016% | $28K | $66K | 10x | as long as short |
| Arcus CRCL-USD | +0.0214% | 1h | 93.220 | −0.005% | $94K | $212K | 10x | as long as short |
| Nado CRCL-PERP | +0.0271% | 1h | 93.221 | −0.005% | $155K | $94K | 3x | as long as short |
| Lighter CRCL | +0.0296% | 1h | 93.268 | +0.046% | $3.0M | $2.1M | 10x | as long as short |
| Variational Omni CRCL | +0.0308% | 8h | 93.171 | −0.058% | $2.5M | $3.3M | — | as long as short |
| OKX CRCL-USDT-SWAP | +0.0322% | 8h | 93.220 | −0.005% | $23.0M | $57.1M | 50x | as long as short |
| Aster CRCLUSDT | +0.0385% | 8h | 93.188 | −0.039% | $1.1M | $4.5M | 20x | as long as short |
| Extended CRCL_24_5-USD | +0.0392% | 1h | 93.199 | −0.028% | $1.1M | $4.0M | 10x | as long as short |
| Binance CRCLUSDT | +0.0395% | 8h | 93.230 | +0.005% | $107.9M | $351.8M | 50x | as long as short |
| BloFin CRCL-USDT | +0.0514% | 8h | 93.170 | −0.059% | $1.1M | $1.7M | 20x | as long as short |
| RISEx CRCL/USDC | +0.0528% | 1h | 93.245 | +0.021% | $418K | $235K | 10x | as long as short |
| edgeX CRCLUSDC | +0.0752% | 4h | 93.110 | −0.124% | $53K | $269K | 10x | as long as short |
| GRVT CRCL_USDT_Perp | +0.0793% | 8h | 93.146 | −0.085% | $61K | $1.0M | 10x | as long as short |
Ondo Perps CRCL-USD.P
QFEX CRCL-USD
Deribit CRCL_USDC-PERPETUAL
Gate CRCL_USDT
Pacifica CRCL
KuCoin CRCLUSDTM
ApeX Omni CRCLUSDT
Orderly PERP_CRCL_USDC_mythos
Aevo CRCL-PERP
Paradex CRCL-USD-PERP
Phoenix CRCL
Arcus CRCL-USD
Nado CRCL-PERP
Lighter CRCL
Variational Omni CRCL
OKX CRCL-USDT-SWAP
Aster CRCLUSDT
Extended CRCL_24_5-USD
Binance CRCLUSDT
BloFin CRCL-USDT
RISEx CRCL/USDC
edgeX CRCLUSDC
GRVT CRCL_USDT_Perp