Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0370%/8h= +40.5% APRpaid last 24h +0.104%

Price spread now: Injective against Paradex+0.542%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Injective is 0.542% dearer against Paradex 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	Paradex CRCL-USD-PERP	91.862	0.0070	pay 0.0070% / 8h	3h 14m	$423	$905	5x
Short	Injective CRCL/USDC PERP	92.360	0.0440	get 0.0055% / 1h	14m 25s	$5K	$19K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Paradex. 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 ParadexbpFee InjectivebpOrdersPrice spread, now +0.542%Rate

Funding earned: $77.7
Price spread: +0.542% → 0.000%: $54.16
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $127.84
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; 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 Paradex no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Paradex and 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	−0.0680%	8h	91.930	+0.074%	$16.6M	$35.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0061%	1h	91.640	−0.242%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.870	+0.008%	$14.8M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.930	+0.074%	$7.3M	$27.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.919	+0.061%	$2.5M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.950	+0.095%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0018%	8h	91.916	+0.058%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	91.854	−0.010%	$1.2M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0027%	8h	91.870	+0.008%	$104.6M	$392.5M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.914	+0.056%	$974K	$2.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0039%	1h	91.857	−0.006%	$2K	$26K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.870	+0.008%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.770	−0.101%	$911K	$519K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.808	−0.059%	$68.3M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.850	−0.014%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.878	+0.017%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.780	−0.090%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.870	+0.008%	$1.3M	$1.9M	10x	as long as short
Paradex CRCL-USD-PERPlong	+0.0070%	8h	91.862	long leg	$423	$905	5x
GRVT CRCL_USDT_Perp	+0.0092%	8h	91.970	+0.117%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0097%	8h	91.890	+0.030%	$22.3M	$61.8M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.881	+0.020%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.890	+0.030%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.850	−0.014%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.870	+0.008%	$916	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.847	−0.017%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.890	+0.030%	$418K	$299K	10x	as long as short
BloFin CRCL-USDT	+0.0107%	8h	91.930	+0.074%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0182%	1h	91.884	+0.023%	$27K	$82K	10x	as long as short
edgeX CRCLUSDC	+0.0203%	4h	91.943	+0.088%	$51K	$277K	10x	as long as short
Lighter CRCL	+0.0264%	1h	91.885	+0.025%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0353%	1h	91.825	−0.041%	$134K	$108K	3x	as long as short
Injective CRCL/USDC PERPshort	+0.0440%	1h	92.360	+0.542%	$5K	$19K	30x
Deribit CRCL_USDC-PERPETUAL	+0.0513%	1h	91.850	−0.014%	$4K	$768K	10x	as long as short