Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0263%/8h= −28.8% APRpaid last 24h −0.073%

Price spread now: Polymarket Perps against BloFin−0.001%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$310.306% of the position

Long on BloFin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.425%−$43 on $10k

Price spread, last 3 days (all we have)−0.015%−$1 · spread now −0.001%, 7d avg −0.032%

Together, before fees−0.440%−$44 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.031% dearer against BloFin than usual: you sell high and buy low (spread −0.001% now, against its 7-day average of −0.032%): +$3 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin CRCL-USDT	94.370	0.0313	pay 0.0313% / 8h	7h 29m	$1.1M	$560K	20x
Short	Polymarket Perps CRCL-USD	94.369	0.0050	get 0.0006% / 1h	29m 16s	$365K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against BloFin. 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 BloFinbpFee Polymarket PerpsbpOrdersPrice spread, now −0.001%Rate

Funding earned: −$55.19
Price spread: −0.001% → −0.032%: $3.12
Slippage, 4 orders: −$10.57
Fee BloFin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$82.65
Costs to cover: 0.306%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Polymarket Perps: live order book, 4 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 BloFin live order book, 3 min ago	0.53 bp	6.9 bp −$7	9.9 bp −$99	36.5 bp −$3,648	doesn't fit
Sell Polymarket Perps live order book, 4 min ago	1.86 bp	6.2 bp −$6	7.1 bp −$71	9.7 bp −$974	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
Coinbase International CRCL-PERP-INTX	−0.0064%	1h	94.210	−0.170%	$942K	$622K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	94.410	+0.042%	$15.5M	$25.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.410	+0.042%	$7.2M	$27.0M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.462	+0.098%	$68K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.330	−0.042%	$1.0M	$49K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.403	+0.035%	$889K	$2.8M	10x	as long as short
Bitget CRCLUSDT	+0.0033%	8h	94.400	+0.032%	$17.0M	$34.7M	25x	as long as short
Aftermath Perps CRCLUSD	+0.0042%	1h	94.322	−0.051%	$2K	$22K	5x	as long as short
QFEX CRCL-USD	+0.0042%	1h	94.350	−0.021%	$1.4M	$2.6M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.280	−0.095%	—	$37K	25x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CRCL	+0.0050%	1h	94.342	−0.030%	$71.8M	$42.2M	10x	as long as short
Polymarket Perps CRCL-USDshort	+0.0050%	1h	94.369	−0.001%	$365K	$1.1M	10x
SoDEX CRCL-USD	+0.0050%	1h	94.373	+0.003%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.310	−0.064%	$1.0M	$5.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.350	−0.021%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.410	+0.042%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.300	−0.074%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.390	+0.021%	$941	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.397	+0.029%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0105%	8h	94.412	+0.044%	$774	$740	5x	as long as short
Variational Omni CRCL	+0.0127%	8h	94.450	+0.085%	$2.5M	$3.1M	—	as long as short
edgeX CRCLUSDC	+0.0141%	4h	94.435	+0.069%	$24K	$269K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0151%	8h	94.400	+0.032%	$22.8M	$59.4M	50x	as long as short
Extended CRCL_24_5-USD	+0.0192%	1h	94.380	+0.010%	$1.1M	$5.9M	10x	as long as short
Binance CRCLUSDT	+0.0193%	8h	94.400	+0.032%	$109.3M	$386.2M	50x	as long as short
Aster CRCLUSDT	+0.0199%	8h	94.401	+0.033%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0228%	1h	94.320	−0.053%	$132K	$76K	3x	as long as short
Phoenix CRCL	+0.0296%	1h	94.429	+0.063%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0304%	1h	94.416	+0.049%	$3.1M	$2.2M	10x	as long as short
BloFin CRCL-USDTlong	+0.0313%	8h	94.370	long leg	$1.1M	$560K	20x
Injective CRCL/USDC PERP	+0.0440%	1h	94.890	+0.551%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0492%	1h	94.380	+0.011%	$4K	$769K	10x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.360	−0.011%	$96K	$273K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	94.386	+0.017%	$431K	$299K	10x	as long as short