Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0267%/8h= −29.2% APRpaid last 24h +0.005%

Price spread now: Polymarket Perps against Bitget+0.022%50s7-day average −0.130% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$400.401% of the position

Long on Bitget Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.251%−$25 on $10k

Price spread, last 7 days+0.082%+$8 · spread now +0.022%, 7d avg −0.130%

Together, before fees−0.169%−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.152% dearer against Bitget than usual: you sell high and buy low (spread +0.022% now, against its 7-day average of −0.130%): +$15 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 46 hours. At the pace of the last 7 days (−0.251% in total) that is about 4.2 days. The two prices were read 50 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	Bitget CRCLUSDT	94.130	0.0317	pay 0.0317% / 8h	1h 31m	$16.6M	$35.2M	25x
Short	Polymarket Perps CRCL-USD	94.151	0.0050	get 0.0006% / 1h	31m 37s	$365K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Bitget. 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 BitgetbpFee Polymarket PerpsbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$56.07
Price spread: +0.022% → −0.130%: $15.21
Slippage, 4 orders: −$20.1
Fee Bitget: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$80.95
Costs to cover: 0.401%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Polymarket Perps: live order book, 1 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 Bitget live order book, 2 min ago	1.59 bp	13.2 bp −$13	22.2 bp −$222	50.3 bp −$5,030	doesn't fit
Sell Polymarket Perps live order book, 1 min ago	1.86 bp	9.4 bp −$9	9.9 bp −$99	11.6 bp −$1,159	doesn't fit

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
Gate CRCL_USDT	0.0000%	8h	94.170	+0.042%	$7.2M	$27.5M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.200	+0.074%	$1.0M	$50K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.181	+0.054%	$888K	$2.9M	10x	as long as short
QFEX CRCL-USD	+0.0033%	1h	94.110	−0.021%	$1.3M	$2.7M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.250	+0.127%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0048%	1h	94.274	+0.153%	$2K	$20K	5x	as long as short
Polymarket Perps CRCL-USDshort	+0.0050%	1h	94.151	+0.022%	$365K	$1.1M	10x
SoDEX CRCL-USD	+0.0050%	1h	94.169	+0.041%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.130	0.000%	$1.1M	$5.8M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0069%	1h	94.190	+0.064%	$4K	$771K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CRCLUSDT	+0.0077%	8h	94.180	+0.053%	$15.5M	$25.9M	50x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0080%	1h	94.200	+0.074%	$937K	$741K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.120	−0.011%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.220	+0.096%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.220	+0.096%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.150	+0.021%	$939	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.190	+0.064%	$4	—	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0122%	8h	94.340	+0.223%	$59K	$1.2M	10x	as long as short
Variational Omni CRCL	+0.0124%	8h	94.334	+0.217%	$2.5M	$3.2M	—	as long as short
tradeXYZ xyz:CRCL	+0.0141%	1h	94.042	−0.093%	$70.5M	$42.8M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0158%	8h	94.156	+0.027%	$772	$740	5x	as long as short
RISEx CRCL/USDC	+0.0159%	1h	94.180	+0.053%	$430K	$310K	10x	as long as short
Binance CRCLUSDT	+0.0176%	8h	94.160	+0.032%	$108.2M	$388.4M	50x	as long as short
Extended CRCL_24_5-USD	+0.0176%	1h	94.144	+0.015%	$1.1M	$3.8M	10x	as long as short
Aster CRCLUSDT	+0.0200%	8h	94.246	+0.123%	$1.1M	$4.8M	20x	as long as short
Phoenix CRCL	+0.0212%	1h	94.303	+0.184%	$28K	$92K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	94.150	+0.021%	$96K	$275K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0217%	8h	94.160	+0.032%	$22.7M	$60.3M	50x	as long as short
Nado CRCL-PERP	+0.0278%	1h	94.161	+0.033%	$126K	$74K	3x	as long as short
Lighter CRCL	+0.0288%	1h	94.204	+0.079%	$3.0M	$2.3M	10x	as long as short
BloFin CRCL-USDT	+0.0295%	8h	94.290	+0.170%	$1.1M	$580K	20x	as long as short
Bitget CRCLUSDTlong	+0.0317%	8h	94.130	long leg	$16.6M	$35.2M	25x
Injective CRCL/USDC PERP	+0.0440%	1h	94.770	+0.680%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0599%	4h	94.304	+0.185%	$24K	$268K	10x	as long as short