Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.014%

Price spread now: Polymarket Perps against GRVT−0.113%7-day average −0.118% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$290.291% of the position

Long on GRVT Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.114%−$11 on $10k

Price spread, last 7 days+0.050%+$5 · spread now −0.113%, 7d avg −0.118%

Together, before fees−0.065%+ Points / potential airdropGRVT: Active · farm board−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.118%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.114%, 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	GRVT CRCL_USDT_Perp	92.175	0	get 0.0000% / 8h	5h 12m	$65K	$1.1M	10x
Short	Polymarket Perps CRCL-USD	92.071	0.0050	get 0.0006% / 1h	12m 42s	$359K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against GRVT. 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 GRVTbpFee Polymarket PerpsbpOrdersPrice spread, now −0.113%Rate

Funding earned: $10.5
Price spread: −0.113% → −0.118%: $0.48
Slippage, 4 orders: −$12.08
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$18.1
Costs to cover: 0.291%
Break-even: 19.1 days

Slippage from GRVT: live order book, just now; Polymarket Perps: live order book, just now.

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 GRVT live order book, just now	1.09 bp	8.5 bp −$9	13.3 bp −$133	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, just now	2.99 bp	7.0 bp −$7	7.0 bp −$70	9.0 bp −$895	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	−0.1131%	8h	92.090	−0.092%	$16.0M	$34.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0077%	1h	91.880	−0.320%	—	$31K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	92.090	−0.092%	$909K	$501K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.070	−0.114%	$15.2M	$25.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.070	−0.114%	$420K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.110	−0.071%	$7.1M	$26.8M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.177	+0.002%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perplong	0.0000%	8h	92.175	long leg	$65K	$1.1M	10x
Phemex CRCLUSDT	0.0000%	4h	92.110	−0.071%	$1.0M	$49K	10x	as long as short
Binance CRCLUSDT	+0.0004%	8h	92.059	−0.126%	$105.2M	$386.1M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CRCL_24_5-USD	+0.0008%	1h	92.030	−0.157%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0011%	8h	92.009	−0.180%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0014%	8h	92.080	−0.103%	$21.6M	$59.7M	50x	as long as short
BloFin CRCL-USDT	+0.0017%	8h	92.020	−0.168%	$1.1M	$1.3M	20x	as long as short
Aftermath Perps CRCLUSD	+0.0023%	1h	92.017	−0.172%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	92.050	−0.136%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.080	−0.103%	$977K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.030	−0.157%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.025	−0.163%	$68.6M	$41.4M	10x	as long as short
Polymarket Perps CRCL-USDshort	+0.0050%	1h	92.071	−0.113%	$359K	$1.1M	10x
SoDEX CRCL-USD	+0.0050%	1h	92.032	−0.155%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.040	−0.147%	$1.0M	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0086%	8h	92.072	−0.112%	$755	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	92.062	−0.123%	$133K	$156K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.050	−0.136%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.030	−0.157%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.040	−0.147%	$918	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.049	−0.137%	$4	—	10x	as long as short
Phoenix CRCL	+0.0183%	1h	92.192	+0.018%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0224%	1h	92.013	−0.175%	$131K	$104K	3x	as long as short
Lighter CRCL	+0.0240%	1h	92.085	−0.098%	$3.0M	$2.4M	10x	as long as short
edgeX CRCLUSDC	+0.0305%	4h	92.149	−0.028%	$23K	$249K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.530	+0.385%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0511%	1h	92.040	−0.147%	$4K	$767K	10x	as long as short