CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0349%/8h= −38.2% APRnext payment −$0.44 per $10,000 · paid last 24h −0.102%

Price spread now: Polymarket Perps against Deribit+0.048%7-day average −0.011% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.189%−$19 on $10k

Price spread, last 4 days (all we have)+0.008%+$1 · spread now +0.048%, 7d avg −0.011%

Together, before fees−0.181%−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.059% dearer against Deribit than usual: you sell high and buy low (spread +0.048% now, against its 7-day average of −0.011%): +$6 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 5 days (−0.189% in total) that is about 38 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit CRCL_USDC-PERPETUAL	92.470	0.0399	pay 0.0050% / 1h	55m 46s	$5K	$617K	10x
Short	Polymarket Perps CRCL-USD	92.514	0.0050	get 0.0006% / 1h	55m 46s	$380K	$954K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 DeribitbpFee Polymarket PerpsbpOrdersPrice spread, now +0.048%Rate

Funding earned: −$73.35
Price spread: +0.048% → −0.011%: $5.9
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$82.45
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 38 min ago; Polymarket Perps: live order book, 23 min ago. Net counts fees only.

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 Deribit live order book, 38 min ago	6.59 bp	10.1 bp −$10	13.1 bp −$131	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 23 min ago	540.18 bp	doesn't fit	doesn't fit	doesn't fit	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
Ondo Perps CRCL-USD.P	−0.0072%	1h	92.030	−0.476%	$1.1M	$4.2M	10x	as long as short
Vest CRCL-USD-PERP	−0.0065%	1h	92.370	−0.108%	—	$31K	25x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.150	−0.346%	$17.9M	$35.1M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.530	+0.065%	$1.0M	$46K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0008%	1h	92.250	−0.238%	$877K	$686K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.167	−0.328%	$991K	$2.3M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	92.509	+0.042%	$2K	$29K	5x	as long as short
Polymarket Perps CRCL-USDshort	+0.0050%	1h	92.514	+0.048%	$380K	$954K	10x
SoDEX CRCL-USD	+0.0050%	1h	92.447	−0.025%	$46K	$3K	10x	as long as short
Gate CRCL_USDT	+0.0054%	8h	92.390	−0.087%	$7.3M	$25.4M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0080%	1h	92.490	+0.022%	$1.4M	$1.6M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0088%	1h	92.124	−0.374%	$67.4M	$42.9M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.137	−0.360%	$135K	$139K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.200	−0.292%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.510	+0.043%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.520	+0.054%	$922	$1K	10x	as long as short
Bybit CRCLUSDT	+0.0101%	8h	92.190	−0.303%	$15.0M	$25.9M	50x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.502	+0.034%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0159%	8h	92.110	−0.390%	$424	$766	5x	as long as short
Lighter CRCL	+0.0168%	1h	92.199	−0.293%	$3.0M	$2.0M	10x	as long as short
Variational Omni CRCL	+0.0249%	8h	92.487	+0.018%	$2.4M	$3.2M	—	as long as short
Phoenix CRCL	+0.0254%	1h	92.779	+0.334%	$27K	$64K	10x	as long as short
Aster CRCLUSDT	+0.0305%	8h	92.353	−0.127%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0312%	8h	92.180	−0.314%	$22.6M	$59.2M	50x	as long as short
Binance CRCLUSDT	+0.0316%	8h	92.234	−0.255%	$106.3M	$376.9M	50x	as long as short
Extended CRCL_24_5-USD	+0.0320%	1h	92.398	−0.078%	$1.1M	$5.0M	10x	as long as short
Nado CRCL-PERP	+0.0343%	1h	92.441	−0.031%	$149K	$111K	3x	as long as short
Arcus CRCL-USD	+0.0368%	1h	92.130	−0.368%	$96K	$268K	10x	as long as short
Deribit CRCL_USDC-PERPETUALlong	+0.0399%	1h	92.470	long leg	$5K	$617K	10x
BloFin CRCL-USDT	+0.0439%	8h	92.450	−0.022%	$1.1M	$1.7M	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	93.200	+0.789%	$39K	$172K	30x	as long as short
RISEx CRCL/USDC	+0.0479%	1h	92.563	+0.101%	$414K	$255K	10x	as long as short
edgeX CRCLUSDC	+0.0681%	4h	92.633	+0.177%	$53K	$268K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0688%	8h	92.732	+0.283%	$62K	$1.1M	10x	as long as short