Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0006%/8h= +0.6% APRpaid last 24h −0.036%

Price spread now: Polymarket Perps against Binance−0.090%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$250.254% of the position

Long on Binance Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.167%−$17 on $10k

Price spread, last 2 days (all we have)+0.038%+$4 · spread now −0.090%, 7d avg −0.033%

Together, before fees−0.128%−$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.057% cheaper against Binance than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CRCLUSDT	91.970	0.0044	pay 0.0044% / 8h	6h 02m	$104.7M	$387.4M	50x
Short	Polymarket Perps CRCL-USD	91.887	0.0050	get 0.0006% / 1h	2m 12s	$355K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Binance. 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 BinancebpFee Polymarket PerpsbpOrdersPrice spread, now −0.090%Rate

Funding earned: $1.18
Price spread: −0.090% → −0.033%: −$5.68
Slippage, 4 orders: −$7.4
Fee Binance: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$29.89
Costs to cover: 0.254%
Break-even: 183.6 days

Slippage from Binance: live order book, 11 min ago; Polymarket Perps: live order book, 6 min ago.

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 Binance live order book, 11 min ago	0.54 bp	6.6 bp −$7	8.7 bp −$87	30.2 bp −$3,015	181.5 bp −$90.7K
Sell Polymarket Perps live order book, 6 min ago	0.05 bp	4.1 bp −$4	4.1 bp −$41	7.1 bp −$710	doesn't fit

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	−0.0963%	8h	92.020	+0.054%	$15.9M	$34.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0063%	1h	91.710	−0.283%	—	$40K	25x	as long as short
Gate CRCL_USDT	−0.0050%	8h	91.990	+0.022%	$7.1M	$26.9M	50x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.840	−0.141%	$906K	$555K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.000	+0.033%	$15.0M	$25.7M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.896	−0.081%	$420K	$298K	10x	as long as short
Variational Omni CRCL	0.0000%	8h	91.989	+0.021%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	92.022	+0.056%	$63K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.940	−0.033%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0023%	1h	91.919	−0.055%	$2K	$23K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	92.011	+0.045%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.930	−0.043%	$93K	$269K	10x	as long as short
Binance CRCLUSDTlong	+0.0044%	8h	91.970	long leg	$104.7M	$387.4M	50x
OKX CRCL-USDT-SWAP	+0.0046%	8h	92.020	+0.054%	$21.8M	$59.4M	50x	as long as short
Extended CRCL_24_5-USD	+0.0048%	1h	91.948	−0.024%	$1.1M	$5.7M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.910	−0.065%	$69.0M	$41.1M	10x	as long as short
Polymarket Perps CRCL-USDshort	+0.0050%	1h	91.887	−0.090%	$355K	$1.1M	10x
SoDEX CRCL-USD	+0.0050%	1h	91.942	−0.030%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.950	−0.022%	$1.0M	$5.3M	10x	as long as short
Aster CRCLUSDT	+0.0054%	8h	91.995	+0.028%	$1.1M	$4.9M	20x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.870	−0.109%	$1.3M	$2.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0071%	8h	91.897	−0.079%	$754	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.880	−0.098%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.020	+0.054%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.930	−0.043%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.970	0.000%	$917	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.952	−0.020%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0168%	1h	91.843	−0.139%	$131K	$104K	3x	as long as short
Lighter CRCL	+0.0208%	1h	92.003	+0.036%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	92.028	+0.063%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.260	+0.315%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0511%	1h	92.010	+0.043%	$4K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0966%	4h	91.955	−0.016%	$23K	$267K	10x	as long as short