CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0517%/8h= +56.6% APRnext payment +$0.65 per $10,000 · paid last 24h −0.016%

Price spread now: Deribit against Injective−0.501%63s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 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. Deribit is 0.501% cheaper against Injective than usual: you would sell low and buy high (spread −0.501% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$50 on $10k: about 3.2 days of funding at the current rate (+$15 a day). The two prices were read 63 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	Injective CRCL/USDC PERP	91.740	0.0440	pay 0.0055% / 1h	3m 47s	$5K	$19K	30x
Short	Deribit CRCL_USDC-PERPETUAL	91.280	0.0957	get 0.0120% / 1h	3m 47s	$5K	$769K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Injective. 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 InjectivebpFee DeribitbpOrdersPrice spread, now −0.501%Rate

Funding earned: $108.47
Price spread: −0.501% → 0.000%: −$50.14
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $51.31
Costs to cover: 0.070%
Break-even: 3.7 days

Slippage unknown: Injective: no order-book sample; Deribit: live order book, 35 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 Injective no order-book sample	—	—	—	—	—
Sell Deribit live order book, 35 min ago	6.00 bp	9.5 bp −$9	12.2 bp −$122	doesn't fit	doesn't fit

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	−0.0346%	8h	91.360	−0.414%	$17.3M	$36.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0085%	1h	90.980	−0.828%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.330	−0.447%	$7.8M	$28.0M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.300	−0.480%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.285	−0.496%	$983K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.260	−0.523%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.220	−0.567%	$95K	$296K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.280	−0.501%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.210	−0.578%	$1.1M	$4.8M	10x	as long as short
Bybit CRCLUSDT	+0.0065%	8h	91.330	−0.447%	$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	91.280	−0.501%	$1.3M	$1.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.070	−0.730%	$871K	$500K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0091%	1h	91.247	−0.537%	$67.3M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.280	−0.501%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.270	−0.512%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.170	−0.621%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.260	−0.523%	$910	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.306	−0.474%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0132%	8h	91.253	−0.531%	$2.4M	$3.3M	—	as long as short
Polymarket Perps CRCL-USD	+0.0154%	1h	91.276	−0.506%	$377K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0161%	8h	91.279	−0.502%	$420	$905	5x	as long as short
Aster CRCLUSDT	+0.0199%	8h	91.314	−0.465%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0216%	8h	91.316	−0.463%	$104.9M	$389.2M	50x	as long as short
Extended CRCL_24_5-USD	+0.0216%	1h	91.284	−0.497%	$1.0M	$5.0M	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.260	−0.523%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0251%	8h	91.227	−0.559%	$70K	$1.1M	10x	as long as short
Lighter CRCL	+0.0264%	1h	91.281	−0.500%	$2.9M	$2.4M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0291%	8h	91.300	−0.480%	$22.3M	$61.7M	50x	as long as short
BloFin CRCL-USDT	+0.0333%	8h	91.320	−0.458%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0438%	1h	91.172	−0.619%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERPlong	+0.0440%	1h	91.740	long leg	$5K	$19K	30x
RISEx CRCL/USDC	+0.0466%	1h	91.310	−0.469%	$412K	$263K	10x	as long as short
edgeX CRCLUSDC	+0.0907%	4h	91.195	−0.594%	$52K	$270K	10x	as long as short
Deribit CRCL_USDC-PERPETUALshort	+0.0957%	1h	91.280	−0.501%	$5K	$769K	10x