Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0307%/8h= +33.7% APRpaid last 24h +0.045%

Price spread now: Injective against BloFin+0.535%7-day average — · you sell dearer than you buy

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

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.344%+$34 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 +$9 a day on $10k at the current rate, and Injective is 0.535% dearer against BloFin than usual: you sell high and buy low: +$54 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin CRCL-USDT	91.550	0.0133	pay 0.0133% / 8h	2h 45m	$1.1M	$1.6M	20x
Short	Injective CRCL/USDC PERP	92.040	0.0440	get 0.0055% / 1h	45m 13s	$5K	$19K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now +0.535%Rate

Funding earned: $64.55
Price spread: +0.535% → 0.000%: $53.52
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $106.06
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: BloFin: live order book, 2 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 BloFin live order book, 2 min ago	1.64 bp	7.6 bp −$8	11.8 bp −$118	30.3 bp −$3,030	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	−0.0760%	8h	91.610	+0.066%	$16.7M	$36.1M	25x	as long as short
Vest CRCL-USD-PERP	−0.0068%	1h	91.280	−0.295%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.530	−0.022%	$14.7M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.580	+0.033%	$7.4M	$27.1M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.509	−0.045%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.540	−0.011%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0022%	8h	91.541	−0.009%	$1.0M	$5.1M	20x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.564	+0.015%	$974K	$2.9M	10x	as long as short
Extended CRCL_24_5-USD	+0.0032%	1h	91.522	−0.031%	$1.1M	$5.6M	10x	as long as short
Binance CRCLUSDT	+0.0033%	8h	91.540	−0.011%	$104.3M	$393.7M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CRCLUSDC	+0.0039%	4h	91.574	+0.026%	$52K	$278K	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.560	+0.011%	$93K	$291K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0042%	1h	91.532	−0.019%	$2K	$26K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.541	−0.010%	$383K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.522	−0.031%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.540	−0.011%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	91.550	0.000%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	91.400	−0.164%	$911K	$521K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0079%	1h	91.509	−0.045%	$68.2M	$42.9M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0094%	8h	91.515	−0.038%	$421	$905	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.561	+0.012%	$134K	$162K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.560	+0.011%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.550	0.000%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.530	−0.022%	$913	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.529	−0.023%	$4	—	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0110%	8h	91.580	+0.033%	$62K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0117%	8h	91.560	+0.011%	$22.2M	$61.9M	50x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	91.578	+0.030%	$417K	$295K	10x	as long as short
BloFin CRCL-USDTlong	+0.0133%	8h	91.550	long leg	$1.1M	$1.6M	20x
Phoenix CRCL	+0.0210%	1h	91.603	+0.058%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0280%	1h	91.561	+0.012%	$2.9M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0297%	1h	91.520	−0.033%	$4K	$768K	10x	as long as short
Nado CRCL-PERP	+0.0337%	1h	91.474	−0.084%	$133K	$108K	3x	as long as short
Injective CRCL/USDC PERPshort	+0.0440%	1h	92.040	+0.535%	$5K	$19K	30x