Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0155%/8h= +16.9% APRpaid last 24h +0.073%

Price spread now: Injective against OKX+0.603%88s7-day average — · you sell dearer than you buy

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

Long on OKX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.590%+$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 +$5 a day on $10k at the current rate, and Injective is 0.603% dearer against OKX than usual: you sell high and buy low: +$60 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 88 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	OKX CRCL-USDT-SWAP	91.190	0.0285	pay 0.0285% / 8h	7m 53s	$22.3M	$61.6M	50x
Short	Injective CRCL/USDC PERP	91.740	0.0440	get 0.0055% / 1h	7m 53s	$5K	$19K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against OKX. 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 OKXbpFee InjectivebpOrdersPrice spread, now +0.603%Rate

Funding earned: $32.45
Price spread: +0.603% → 0.000%: $60.31
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $82.75
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: OKX: live order book, 1 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 OKX live order book, 1 min ago	0.55 bp	6.7 bp −$7	13.1 bp −$131	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	−0.0354%	8h	91.240	+0.055%	$17.3M	$36.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0082%	1h	90.890	−0.329%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.230	+0.044%	$7.8M	$28.0M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.220	+0.033%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.214	+0.026%	$982K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.150	−0.044%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.190	0.000%	$95K	$296K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.170	−0.022%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.150	−0.044%	$1.1M	$4.8M	10x	as long as short
Bybit CRCLUSDT	+0.0061%	8h	91.220	+0.033%	$14.8M	$26.5M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.190	0.000%	$1.3M	$1.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.070	−0.132%	$871K	$500K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0089%	1h	91.122	−0.075%	$67.2M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.180	−0.011%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.220	+0.033%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.120	−0.077%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.170	−0.022%	$909	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.199	+0.010%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0128%	8h	91.194	+0.004%	$2.4M	$3.3M	—	as long as short
Polymarket Perps CRCL-USD	+0.0153%	1h	91.167	−0.025%	$377K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0158%	8h	91.189	−0.001%	$419	$905	5x	as long as short
Aster CRCLUSDT	+0.0195%	8h	91.229	+0.043%	$1.0M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0208%	1h	91.179	−0.012%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0210%	8h	91.170	−0.022%	$104.7M	$389.3M	50x	as long as short
Phoenix CRCL	+0.0227%	1h	91.187	−0.003%	$27K	$74K	10x	as long as short
Lighter CRCL	+0.0248%	1h	91.221	+0.034%	$2.9M	$2.4M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0250%	8h	91.217	+0.029%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAPlong	+0.0285%	8h	91.190	long leg	$22.3M	$61.6M	50x
Deribit CRCL_USDC-PERPETUAL	+0.0299%	1h	91.170	−0.022%	$5K	$769K	10x	as long as short
BloFin CRCL-USDT	+0.0329%	8h	91.200	+0.011%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0435%	1h	91.121	−0.076%	$133K	$109K	3x	as long as short
Injective CRCL/USDC PERPshort	+0.0440%	1h	91.740	+0.603%	$5K	$19K	30x
RISEx CRCL/USDC	+0.0466%	1h	91.195	+0.005%	$412K	$269K	10x	as long as short
edgeX CRCLUSDC	+0.0810%	4h	91.207	+0.019%	$52K	$269K	10x	as long as short