| Triestina beat Bari 1-0 (H) on 13 Nov 1938 |
| Bari beat Milan 2-1 (H) on 16 Oct 1938 |
| Milan beat Lazio 3-0 (H) on 13 Nov 1938 |
| Lazio beat Genova 1893 2-1 (H) on 25 Sep 1938 |
| Genova 1893 beat Lucchese 1-0 (A) on 13 Nov 1938 |
| Lucchese beat Modena 3-1 (H) on 9 Oct 1938 |
| Modena beat Roma 2-0 (H) on 30 Oct 1938 |
| Roma beat Torino 1-0 (A) on 6 Nov 1938 |
| Torino beat Novara Calcio 1-0 (A) on 13 Nov 1938 |
| Novara Calcio beat Livorno 2-0 (A) on 16 Oct 1938 |
| Livorno beat Bologna 3-1 (H) on 2 Oct 1938 |
| Bologna beat Liguria 2-1 (A) on 13 Nov 1938 |
| Liguria beat Ambrosiana Inter 1-0 (H) on 9 Oct 1938 |
| Ambrosiana Inter beat Juventus 5-0 (H) on 16 Oct 1938 |
| Juventus beat Napoli 1-0 (H) on 9 Oct 1938 |
| Napoli beat Triestina 2-0 (H) on 16 Oct 1938 |
HWC: Thick arrows show the earliest chain of wins that passes through every team and returns to its start.