Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0053%/8hpaid last 24h −0.030%

Price spread now: Injective against edgeX+0.448%7-day average — · you sell dearer than you buy

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

Long on edgeX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.090%−$9 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

The price spread pays, funding is against you. Injective is 0.448% dearer against edgeX than usual: you sell high and buy low (spread +0.448% now, against zero (this spread has no 7-day history yet)): +$45 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 28 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CRCLUSDC	94.288	0.0493	pay 0.0246% / 4h	51m 10s	$24K	$266K	10x
Short	Injective CRCL/USDC PERP	94.710	0.0440	get 0.0055% / 1h	51m 10s	$5K	$19K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against edgeX. 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 edgeXbpFee InjectivebpOrdersPrice spread, now +0.448%Rate

Funding earned: −$11.04
Price spread: +0.448% → 0.000%: $44.78
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $24.72
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: edgeX: 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 edgeX live order book, 1 min ago	5.83 bp	11.2 bp −$11	24.5 bp −$245	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
Gate CRCL_USDT	0.0000%	8h	94.350	+0.066%	$7.1M	$26.5M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.350	+0.066%	$1.0M	$46K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.357	+0.073%	$802K	$2.7M	10x	as long as short
Vest CRCL-USD-PERP	+0.0042%	1h	94.200	−0.093%	—	$45K	25x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	94.359	+0.076%	$70.9M	$41.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.292	+0.004%	$355K	$1.0M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.399	+0.118%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.190	−0.104%	$1.1M	$5.7M	10x	as long as short
QFEX CRCL-USD	+0.0071%	1h	94.300	+0.013%	$1.4M	$2.7M	10x	as long as short
Bybit CRCLUSDT	+0.0075%	8h	94.400	+0.119%	$15.5M	$25.3M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex CRCL-USD-PERP	+0.0095%	8h	94.309	+0.023%	$717	$428	5x	as long as short
Pacifica CRCL	+0.0100%	1h	94.300	+0.013%	$75K	$95K	10x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.210	−0.083%	$69K	$5K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.360	+0.077%	$941	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.365	+0.081%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0112%	8h	94.196	−0.097%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	+0.0113%	8h	94.264	−0.025%	$58K	$1.2M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0144%	1h	94.290	+0.002%	$942K	$748K	10x	as long as short
Aster CRCLUSDT	+0.0157%	8h	94.266	−0.023%	$1.1M	$4.7M	20x	as long as short
Phoenix CRCL	+0.0162%	1h	93.936	−0.373%	$28K	$92K	10x	as long as short
Extended CRCL_24_5-USD	+0.0168%	1h	94.336	+0.051%	$1.2M	$3.5M	10x	as long as short
Binance CRCLUSDT	+0.0170%	8h	94.386	+0.104%	$107.7M	$372.7M	50x	as long as short
KuCoin CRCLUSDTM	+0.0185%	8h	94.350	+0.066%	$2.9M	$1.7M	20x	as long as short
RISEx CRCL/USDC	+0.0224%	1h	94.340	+0.055%	$419K	$311K	10x	as long as short
Lighter CRCL	+0.0256%	1h	94.438	+0.159%	$2.9M	$2.1M	10x	as long as short
Nado CRCL-PERP	+0.0268%	1h	94.154	−0.142%	$131K	$67K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0268%	8h	94.440	+0.161%	$22.8M	$58.8M	50x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0280%	1h	94.330	+0.045%	$4K	$802K	10x	as long as short
BloFin CRCL-USDT	+0.0288%	8h	94.400	+0.119%	$1.1M	$570K	20x	as long as short
Aftermath Perps CRCLUSD	+0.0343%	1h	94.248	−0.042%	$2K	$16K	5x	as long as short
Bitget CRCLUSDT	+0.0391%	8h	94.440	+0.161%	$16.8M	$34.1M	25x	as long as short
Injective CRCL/USDC PERPshort	+0.0440%	1h	94.710	+0.448%	$5K	$19K	30x
edgeX CRCLUSDClong	+0.0493%	4h	94.288	long leg	$24K	$266K	10x
Arcus CRCL-USD	+0.0748%	1h	94.310	+0.024%	$102K	$257K	10x	as long as short