| Saint Étienne beat Olympique Lillois 2-0 (H) on 30 Oct 1938 |
| Olympique Lillois beat Le Havre 1-0 (H) on 23 Oct 1938 |
| Le Havre beat Antibes 2-0 (H) on 11 Sep 1938 |
| Antibes beat Excelsior Roubaix 2-0 (A) on 30 Oct 1938 |
| Excelsior Roubaix beat Sochaux 3-2 (H) on 2 Oct 1938 |
| Sochaux beat Fives 5-2 (H) on 23 Oct 1938 |
| Fives beat Strasbourg 2-0 (H) on 25 Sep 1938 |
| Strasbourg beat Rouen 5-1 (H) on 9 Oct 1938 |
| Rouen beat Cannes 2-1 (H) on 4 Sep 1938 |
| Cannes beat Sète 3-2 (H) on 9 Oct 1938 |
| Sète beat Racing 5-0 (H) on 2 Oct 1938 |
| Racing beat Roubaix 3-0 (A) on 23 Oct 1938 |
| Roubaix beat Marseille 1-0 (H) on 11 Sep 1938 |
| Marseille beat Lens 3-2 (A) on 18 Sep 1938 |
| Lens beat Metz 2-1 (H) on 4 Sep 1938 |
| Metz beat Saint Étienne 1-0 (A) on 2 Oct 1938 |
HWC: Thick arrows show the earliest chain of wins that passes through every team and returns to its start.