CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0030%/8h= −3.3% APRnext payment −$0.04 per $10,000 · paid last 24h −0.009%

Price spread now: Polymarket Perps against Coinbase International+0.170%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$370.366% of the position

Long on Coinbase International Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.223%−$22 on $10k

Price spread, last 3 days (all we have)−0.180%−$18 · spread now +0.170%, 7d avg +0.010%

Together, before fees−0.403%−$40 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.160% dearer against Coinbase International than usual: you sell high and buy low (spread +0.170% now, against its 7-day average of +0.010%): +$16 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 18 days. At the pace of the last 7 days (−0.223% in total) that is about 5.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International CRCL-PERP-INTX	94.100	0.0080	pay 0.0010% / 1h	18m 17s	$936K	$740K	10x
Short	Polymarket Perps CRCL-USD	94.260	0.0050	get 0.0006% / 1h	18m 17s	$365K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Coinbase International. 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 Coinbase InternationalbpFee Polymarket PerpsbpOrdersPrice spread, now +0.170%Rate

Funding earned: −$6.3
Price spread: +0.170% → +0.010%: $15.97
Slippage, 4 orders: −$18.65
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$26.98
Costs to cover: 0.366%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 65 min ago; Polymarket Perps: live order book, 5 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 Coinbase International live order book, 65 min ago	5.29 bp	13.5 bp −$13	20.3 bp −$203	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	1.80 bp	6.5 bp −$7	8.8 bp −$88	11.4 bp −$1,136	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	94.320	+0.234%	$7.2M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.310	+0.223%	$1.0M	$50K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.335	+0.250%	$889K	$2.9M	10x	as long as short
QFEX CRCL-USD	+0.0033%	1h	94.310	+0.223%	$1.4M	$2.7M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.230	+0.138%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0048%	1h	94.334	+0.249%	$2K	$20K	5x	as long as short
Polymarket Perps CRCL-USDshort	+0.0050%	1h	94.260	+0.170%	$365K	$1.1M	10x
SoDEX CRCL-USD	+0.0050%	1h	94.306	+0.219%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.260	+0.170%	$1.1M	$5.9M	10x	as long as short
Coinbase International CRCL-PERP-INTXlong	+0.0080%	1h	94.100	long leg	$936K	$740K	10x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CRCLUSDT	+0.0083%	8h	94.350	+0.266%	$15.5M	$25.9M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	94.300	+0.213%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.330	+0.244%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.240	+0.149%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.310	+0.223%	$940	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.327	+0.241%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0132%	8h	94.333	+0.248%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0146%	8h	94.324	+0.238%	$773	$740	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0146%	8h	94.367	+0.283%	$59K	$1.2M	10x	as long as short
RISEx CRCL/USDC	+0.0159%	1h	94.315	+0.228%	$430K	$310K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0174%	1h	94.310	+0.223%	$70.7M	$42.8M	10x	as long as short
Extended CRCL_24_5-USD	+0.0184%	1h	94.302	+0.214%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0186%	8h	94.310	+0.223%	$108.4M	$388.3M	50x	as long as short
edgeX CRCLUSDC	+0.0193%	4h	94.358	+0.274%	$24K	$267K	10x	as long as short
Aster CRCLUSDT	+0.0205%	8h	94.330	+0.244%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0209%	8h	94.310	+0.223%	$22.8M	$60.4M	50x	as long as short
Phoenix CRCL	+0.0212%	1h	94.411	+0.330%	$28K	$92K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	94.260	+0.170%	$97K	$275K	10x	as long as short
Nado CRCL-PERP	+0.0259%	1h	94.228	+0.136%	$126K	$73K	3x	as long as short
Lighter CRCL	+0.0288%	1h	94.340	+0.255%	$3.0M	$2.3M	10x	as long as short
BloFin CRCL-USDT	+0.0306%	8h	94.380	+0.298%	$1.1M	$580K	20x	as long as short
Bitget CRCLUSDT	+0.0320%	8h	94.330	+0.244%	$16.6M	$35.1M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.760	+0.701%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0917%	1h	94.350	+0.266%	$4K	$772K	10x	as long as short