Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.019%

Price spread now: Polymarket Perps against Bybit−0.052%7-day average −0.132% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$340.344% of the position

Long on Bybit Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.191%−$19 on $10k

Price spread, last 7 days+0.002%$0 · spread now −0.052%, 7d avg −0.132%

Together, before fees−0.190%−$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Polymarket Perps is 0.080% dearer against Bybit than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.132%. Mind the row above: over the last 7 days funding on this pair cost −0.191%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CRCLUSDT	92.040	0	get 0.0000% / 8h	6h 46m	$15.1M	$25.6M	50x
Short	Polymarket Perps CRCL-USD	91.992	0.0050	get 0.0006% / 1h	46m 24s	$356K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Bybit. 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 BybitbpFee Polymarket PerpsbpOrdersPrice spread, now −0.052%Rate

Funding earned: $10.5
Price spread: −0.052% → −0.132%: $8.01
Slippage, 4 orders: −$15.37
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$15.86
Costs to cover: 0.344%
Break-even: 17.6 days

Slippage from Bybit: live order book, 2 min ago; Polymarket Perps: live order book, 2 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 Bybit live order book, 2 min ago	1.08 bp	10.5 bp −$10	19.6 bp −$196	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	1.79 bp	6.5 bp −$6	9.2 bp −$92	13.3 bp −$1,335	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	−0.0008%	1h	91.840	−0.217%	$919K	$581K	10x	as long as short
Bybit CRCLUSDTlong	0.0000%	8h	92.040	long leg	$15.1M	$25.6M	50x
RISEx CRCL/USDC	0.0000%	1h	92.004	−0.039%	$420K	$300K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.080	+0.043%	$7.2M	$26.0M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.080	+0.043%	$16.4M	$34.9M	25x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	92.668	+0.682%	$61K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.010	−0.033%	$1.0M	$49K	10x	as long as short
Variational Omni CRCL	+0.0014%	8h	91.991	−0.054%	$2.5M	$3.2M	—	as long as short
Vest CRCL-USD-PERP	+0.0024%	1h	91.790	−0.272%	—	$38K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0031%	1h	92.535	+0.538%	$2K	$22K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	92.066	+0.028%	$971K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.340	+0.326%	$94K	$272K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.978	−0.067%	$69.5M	$41.6M	10x	as long as short
Polymarket Perps CRCL-USDshort	+0.0050%	1h	91.992	−0.052%	$356K	$1.1M	10x
SoDEX CRCL-USD	+0.0050%	1h	92.032	−0.009%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.950	−0.098%	$998K	$5.5M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	92.010	−0.033%	$1.3M	$2.4M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0089%	8h	92.083	+0.046%	$755	$740	5x	as long as short
OKX CRCL-USDT-SWAP	+0.0095%	8h	92.050	+0.011%	$21.8M	$59.7M	50x	as long as short
Aster CRCLUSDT	+0.0095%	8h	91.998	−0.046%	$1.1M	$4.9M	20x	as long as short
Extended CRCL_24_5-USD	+0.0096%	1h	92.007	−0.036%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0098%	8h	92.020	−0.022%	$105.7M	$390.5M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	92.050	+0.011%	$129K	$154K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.050	+0.011%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.480	+0.478%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.010	−0.033%	$917	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.009	−0.034%	$4	—	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0185%	1h	92.020	−0.022%	$4K	$769K	10x	as long as short
BloFin CRCL-USDT	+0.0222%	8h	92.330	+0.315%	$1.1M	$1.1M	20x	as long as short
Phoenix CRCL	+0.0231%	1h	92.695	+0.712%	$27K	$92K	10x	as long as short
Nado CRCL-PERP	+0.0241%	1h	91.968	−0.078%	$152K	$89K	3x	as long as short
Lighter CRCL	+0.0248%	1h	92.086	+0.050%	$3.0M	$2.3M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	93.910	+2.032%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0471%	4h	92.705	+0.722%	$24K	$268K	10x	as long as short