Funding you earn now, next payment 01:00 UTC−0.0209%/8h= −22.9% APRnext payment −$0.26 per $10,000 · paid last 24h −0.074%
Price spread now: Phoenix against Injective−0.703%112s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.576%−$58 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Phoenix is 0.703% cheaper against Injective than usual: you would sell low and buy high (−$70 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 112 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 | 92.500 | 0.0440 | pay 0.0055% / 1h | 17m 30s | $5K | $19K | 30x |
| Short | Phoenix CRCL | 91.850 | 0.0231 | get 0.0029% / 1h | 17m 30s | $27K | $92K | 10x |
Injective CRCL/USDC PERP
Phoenix CRCLFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Injective. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$43.9
- Price spread: −0.703% → 0.000%
- −$70.27
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$121.19
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Injective: no order-book sample; Phoenix: 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 Injective no order-book sample | — | — | — | — | — |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Injective and Phoenix: 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 33 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 | −0.0806% | 8h | 91.990 | −0.551% | $16.0M | $35.6M | 25x | as long as short |
| Vest CRCL-USD-PERP | −0.0039% | 1h | 91.670 | −0.897% | — | $40K | 25x | as long as short |
| Coinbase International CRCL-PERP-INTX | −0.0008% | 1h | 91.700 | −0.865% | $913K | $580K | 10x | as long as short |
| Bybit CRCLUSDT | 0.0000% | 8h | 91.910 | −0.638% | $15.0M | $25.9M | 50x | as long as short |
| RISEx CRCL/USDC | 0.0000% | 1h | 91.933 | −0.613% | $420K | $299K | 10x | as long as short |
| Gate CRCL_USDT | 0.0000% | 8h | 92.000 | −0.541% | $7.1M | $26.8M | 50x | as long as short |
| Variational Omni CRCL | 0.0000% | 8h | 91.938 | −0.608% | $2.4M | $3.2M | — | as long as short |
| GRVT CRCL_USDT_Perp | 0.0000% | 8h | 91.730 | −0.832% | $69K | $1.1M | 10x | as long as short |
| Phemex CRCLUSDT | 0.0000% | 4h | 91.980 | −0.562% | $1.0M | $49K | 10x | as long as short |
| Aftermath Perps CRCLUSD | +0.0024% | 1h | 91.872 | −0.679% | $2K | $23K | 5x | as long as short |
Bitget CRCLUSDT
Vest CRCL-USD-PERP
Coinbase International CRCL-PERP-INTX
Bybit CRCLUSDT
RISEx CRCL/USDC
Gate CRCL_USDT
Variational Omni CRCL
GRVT CRCL_USDT_Perp
Phemex CRCLUSDT
Aftermath Perps CRCLUSDShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH CRCL | +0.0032% | 1h | 91.982 | −0.560% | $974K | $2.9M | 10x | as long as short |
| Arcus CRCL-USD | +0.0040% | 1h | 91.830 | −0.724% | $93K | $273K | 10x | as long as short |
| Extended CRCL_24_5-USD | +0.0048% | 1h | 91.912 | −0.635% | $1.1M | $5.7M | 10x | as long as short |
| tradeXYZ xyz:CRCL | +0.0050% | 1h | 91.884 | −0.666% | $69.0M | $42.1M | 10x | as long as short |
| Polymarket Perps CRCL-USD | +0.0050% | 1h | 91.862 | −0.690% | $355K | $1.1M | 10x | as long as short |
| SoDEX CRCL-USD | +0.0050% | 1h | 91.790 | −0.768% | $46K | $3K | 10x | as long as short |
| Ondo Perps CRCL-USD.P | +0.0050% | 1h | 91.730 | −0.832% | $999K | $5.5M | 10x | as long as short |
| Binance CRCLUSDT | +0.0051% | 8h | 91.895 | −0.654% | $104.8M | $394.0M | 50x | as long as short |
| QFEX CRCL-USD | +0.0057% | 1h | 91.920 | −0.627% | $1.3M | $2.3M | 10x | as long as short |
| OKX CRCL-USDT-SWAP | +0.0060% | 8h | 91.890 | −0.659% | $21.8M | $60.3M | 50x | as long as short |
| Aster CRCLUSDT | +0.0060% | 8h | 91.949 | −0.595% | $1.1M | $4.9M | 20x | as long as short |
| Paradex CRCL-USD-PERP | +0.0074% | 8h | 91.964 | −0.579% | $754 | $740 | 5x | as long as short |
| Pacifica CRCL | +0.0100% | 1h | 91.977 | −0.566% | $133K | $158K | 10x | as long as short |
| KuCoin CRCLUSDTM | +0.0100% | 8h | 91.960 | −0.584% | $2.9M | $1.9M | 20x | as long as short |
| ApeX Omni CRCLUSDT | +0.0100% | 1h | 91.720 | −0.843% | $67K | $4K | 50x | as long as short |
| Orderly PERP_CRCL_USDC_mythos | +0.0100% | 8h | 91.890 | −0.659% | $916 | $3K | 10x | as long as short |
| Aevo CRCL-PERP | +0.0104% | 1h | 91.898 | −0.650% | $4 | — | 10x | as long as short |
| Nado CRCL-PERP | +0.0153% | 1h | 91.894 | −0.655% | $131K | $103K | 3x | as long as short |
| Lighter CRCL | +0.0200% | 1h | 92.000 | −0.541% | $3.0M | $2.4M | 10x | as long as short |
| Phoenix CRCLshort | +0.0231% | 1h | 91.850 | −0.703% | $27K | $92K | 10x | |
| Injective CRCL/USDC PERPlong | +0.0440% | 1h | 92.500 | long leg | $5K | $19K | 30x | |
| Deribit CRCL_USDC-PERPETUAL | +0.0512% | 1h | 91.920 | −0.627% | $4K | $769K | 10x | as long as short |
| edgeX CRCLUSDC | +0.0678% | 4h | 91.707 | −0.857% | $23K | $268K | 10x | as long as short |
Lighter RH CRCL
Arcus CRCL-USD
Extended CRCL_24_5-USD
tradeXYZ xyz:CRCL
Polymarket Perps CRCL-USD
SoDEX CRCL-USD
Ondo Perps CRCL-USD.P
Binance CRCLUSDT
QFEX CRCL-USD
OKX CRCL-USDT-SWAP
Aster CRCLUSDT
Paradex CRCL-USD-PERP
Pacifica CRCL
KuCoin CRCLUSDTM
ApeX Omni CRCLUSDT
Orderly PERP_CRCL_USDC_mythos
Aevo CRCL-PERP
Nado CRCL-PERP
Lighter CRCL
Deribit CRCL_USDC-PERPETUAL
edgeX CRCLUSDC