Funding arb · Price arb /

CRCL

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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+0.698%69s7-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 0.698% 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 69 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	91.690	0	get 0.0000% / 8h	5h 28m	$7.1M	$26.6M	50x
Short	Injective CRCL/USDC PERP	92.330	0.0440	get 0.0055% / 1h	28m 10s	$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 +0.698%Rate

Funding earned: $92.4
Price spread: +0.698% → 0.000%: $69.8
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: $147.18
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Gate: live order book, 6 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, 6 min ago	1.64 bp	16.0 bp −$16	30.9 bp −$309	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	−0.1308%	8h	91.710	+0.022%	$15.9M	$34.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0076%	1h	91.440	−0.273%	—	$35K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.690	0.000%	$905K	$529K	10x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.624	−0.072%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.639	−0.055%	$104.6M	$385.0M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.670	−0.022%	$15.0M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.669	−0.023%	$418K	$298K	10x	as long as short
Gate CRCL_USDTlong	0.0000%	8h	91.690	long leg	$7.1M	$26.6M	50x
Variational Omni CRCL	0.0000%	8h	91.746	+0.061%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.777	+0.095%	$65K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.660	−0.033%	$1.0M	$49K	10x	as long as short
Aster CRCLUSDT	+0.0002%	8h	91.678	−0.014%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0009%	8h	91.670	−0.022%	$21.6M	$59.4M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0018%	1h	91.639	−0.056%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.630	−0.065%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.639	−0.056%	$973K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.620	−0.076%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.595	−0.104%	$68.4M	$41.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.672	−0.020%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.640	−0.055%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.610	−0.087%	$970K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0068%	8h	91.704	+0.015%	$752	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.656	−0.037%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.680	−0.011%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.820	+0.142%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.660	−0.033%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.664	−0.028%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.660	−0.033%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0183%	1h	91.684	−0.007%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0183%	1h	91.626	−0.070%	$131K	$104K	3x	as long as short
Lighter CRCL	+0.0216%	1h	91.645	−0.049%	$3.0M	$2.4M	10x	as long as short
Injective CRCL/USDC PERPshort	+0.0440%	1h	92.330	+0.698%	$5K	$19K	30x
edgeX CRCLUSDC	+0.0590%	4h	91.601	−0.097%	$23K	$268K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0623%	1h	91.680	−0.011%	$4K	$767K	10x	as long as short