Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.034%

Price spread now: Polymarket Perps against Gate−0.203%7-day average −0.138% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$440.445% of the position

Long on Gate Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.183%−$18 on $10k

Price spread, last 7 days+0.084%+$8 · spread now −0.203%, 7d avg −0.138%

Together, before fees−0.099%−$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.065% cheaper against Gate than usual: you would sell low and buy high (spread −0.203% now, against its 7-day average of −0.138%). If the spread goes back, that is −$7 on $10k: about 4.3 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.183%, 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	Gate CRCL_USDT	91.990	0	get 0.0000% / 8h	4h 43m	$7.3M	$27.0M	50x
Short	Polymarket Perps CRCL-USD	91.803	0.0050	get 0.0006% / 1h	43m 30s	$358K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Gate. 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 GatebpFee Polymarket PerpsbpOrdersPrice spread, now −0.203%Rate

Funding earned: $10.5
Price spread: −0.203% → −0.138%: −$6.5
Slippage, 4 orders: −$21.46
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$40.46
Costs to cover: 0.445%
Break-even: 34.0 days

Slippage from Gate: live order book, 5 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 Gate live order book, 5 min ago	1.63 bp	15.8 bp −$16	22.7 bp −$227	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	1.91 bp	7.3 bp −$7	8.0 bp −$80	10.1 bp −$1,012	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
Bitget CRCLUSDT	−0.0952%	8h	91.920	−0.076%	$16.2M	$34.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.610	−0.413%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.925	−0.071%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.876	−0.123%	$1.1M	$5.6M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.853	−0.149%	$104.7M	$387.8M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.850	−0.152%	$15.0M	$26.3M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.880	−0.120%	$420K	$298K	10x	as long as short
Gate CRCL_USDTlong	0.0000%	8h	91.990	long leg	$7.3M	$27.0M	50x
Variational Omni CRCL	0.0000%	8h	91.818	−0.187%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.820	−0.185%	$64K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.880	−0.120%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0013%	8h	91.860	−0.141%	$22.0M	$60.6M	50x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.800	−0.207%	$906K	$490K	10x	as long as short
edgeX CRCLUSDC	+0.0021%	4h	91.784	−0.223%	$51K	$277K	10x	as long as short
QFEX CRCL-USD	+0.0028%	1h	91.870	−0.130%	$1.3M	$2.0M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0029%	1h	91.830	−0.174%	$2K	$24K	5x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.924	−0.072%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.930	−0.065%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.759	−0.251%	$68.4M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USDshort	+0.0050%	1h	91.803	−0.203%	$358K	$1.1M	10x
SoDEX CRCL-USD	+0.0050%	1h	91.851	−0.151%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.750	−0.261%	$992K	$5.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0087%	8h	91.885	−0.114%	$423	$905	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.860	−0.141%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.850	−0.152%	$2.7M	$2.0M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.740	−0.272%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.950	−0.043%	$917	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.933	−0.062%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.790	−0.217%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	91.817	−0.188%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0216%	1h	91.930	−0.065%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0299%	1h	91.844	−0.158%	$131K	$104K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.330	+0.370%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0512%	1h	91.950	−0.043%	$4K	$767K	10x	as long as short