Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.028%

Price spread now: Polymarket Perps against KuCoin−0.121%7-day average −0.109% · you buy dearer than you sell

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$980.980% of the position

Long on KuCoin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.229%−$23 on $10k

Price spread, last 7 days+0.120%+$12 · spread now −0.121%, 7d avg −0.109%

Together, before fees−0.108%−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.109%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CRCLUSDTM	94.280	0.0100	pay 0.0100% / 8h	7h 48m	$3.0M	$1.9M	20x
Short	Polymarket Perps CRCL-USD	94.166	0.0050	get 0.0006% / 1h	48m 22s	$365K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against KuCoin. 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 KuCoinbpFee Polymarket PerpsbpOrdersPrice spread, now −0.121%Rate

Funding earned: −$10.5
Price spread: −0.121% → −0.109%: −$1.18
Slippage, 4 orders: −$78
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$109.68
Costs to cover: 0.980%
Break-even: never at this rate

Slippage from KuCoin: live order book, 9 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 KuCoin live order book, 9 min ago	2.11 bp	48.0 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	2.02 bp	6.8 bp −$7	7.6 bp −$76	9.8 bp −$985	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	−0.0064%	1h	94.200	−0.085%	$942K	$725K	10x	as long as short
tradeXYZ xyz:CRCL	−0.0002%	1h	94.143	−0.145%	$71.6M	$42.3M	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	94.250	−0.032%	$15.5M	$25.9M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.250	−0.032%	$7.2M	$26.9M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.250	−0.032%	$1.0M	$52K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.257	−0.024%	$890K	$2.8M	10x	as long as short
QFEX CRCL-USD	+0.0042%	1h	94.210	−0.074%	$1.4M	$2.7M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.070	−0.223%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0047%	1h	94.244	−0.038%	$2K	$21K	5x	as long as short
Polymarket Perps CRCL-USDshort	+0.0050%	1h	94.166	−0.121%	$365K	$1.1M	10x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX CRCL-USD	+0.0050%	1h	94.183	−0.103%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.120	−0.170%	$1.1M	$5.8M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.195	−0.090%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTMlong	+0.0100%	8h	94.280	long leg	$3.0M	$1.9M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	94.210	−0.074%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.220	−0.064%	$939	$3K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0104%	8h	94.348	+0.072%	$70K	$1.1M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.216	−0.068%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0111%	8h	94.241	−0.042%	$773	$740	5x	as long as short
OKX CRCL-USDT-SWAP	+0.0158%	8h	94.230	−0.053%	$22.8M	$60.3M	50x	as long as short
Variational Omni CRCL	+0.0174%	8h	94.210	−0.074%	$2.5M	$3.1M	—	as long as short
Bitget CRCLUSDT	+0.0185%	8h	94.240	−0.042%	$16.9M	$35.1M	25x	as long as short
Nado CRCL-PERP	+0.0222%	1h	94.169	−0.117%	$131K	$76K	3x	as long as short
Binance CRCLUSDT	+0.0228%	8h	94.224	−0.059%	$109.1M	$389.4M	50x	as long as short
Aster CRCLUSDT	+0.0232%	8h	94.246	−0.036%	$1.1M	$4.9M	20x	as long as short
Extended CRCL_24_5-USD	+0.0232%	1h	94.206	−0.079%	$1.1M	$4.2M	10x	as long as short
Phoenix CRCL	+0.0296%	1h	94.366	+0.091%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0312%	1h	94.274	−0.006%	$3.0M	$2.2M	10x	as long as short
BloFin CRCL-USDT	+0.0352%	8h	94.220	−0.064%	$1.1M	$559K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.570	+0.308%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0493%	1h	94.230	−0.053%	$4K	$772K	10x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.220	−0.064%	$96K	$276K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	94.251	−0.031%	$430K	$303K	10x	as long as short
edgeX CRCLUSDC	+0.0861%	4h	94.390	+0.117%	$24K	$268K	10x	as long as short