CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0166%/8h= −18.2% APRnext payment −$0.21 per $10,000 · paid last 24h −0.069%

Price spread now: Polymarket Perps against Lighter−0.046%45s7-day average −0.162% · you buy dearer than you sell

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$200.201% of the position

Long on Lighter Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.712%−$71 on $10k

Price spread, last 7 days−0.048%−$5 · spread now −0.046%, 7d avg −0.162%

Together, before fees−0.760%+ Points / potential airdropLighter: Season 3 · farm board−$76 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.116% dearer against Lighter than usual: you sell high and buy low (spread −0.046% now, against its 7-day average of −0.162%): +$12 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.3 days. At the pace of the last 7 days (−0.712% in total) that is about 27 hours. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter CRCL	91.202	0.0216	pay 0.0027% / 1h	29m 30s	$2.9M	$2.4M	10x
Short	Polymarket Perps CRCL-USD	91.160	0.0050	get 0.0006% / 1h	29m 30s	$382K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Lighter. 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 LighterbpFee Polymarket PerpsbpOrdersPrice spread, now −0.046%Rate

Funding earned: −$34.86
Price spread: −0.046% → −0.162%: $11.58
Slippage, 4 orders: −$12.1
Fee Lighter: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$43.37
Costs to cover: 0.201%
Break-even: never at this rate

Slippage from Lighter: live order book, 8 min ago; Polymarket Perps: live order book, 4 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 Lighter live order book, 8 min ago	1.53 bp	3.2 bp −$3	10.0 bp −$100	41.9 bp −$4,186	doesn't fit
Sell Polymarket Perps live order book, 4 min ago	2.52 bp	7.8 bp −$8	8.1 bp −$81	10.5 bp −$1,053	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	−0.0899%	8h	91.310	+0.118%	$16.7M	$36.3M	25x	as long as short
Vest CRCL-USD-PERP	−0.0072%	1h	90.910	−0.320%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.210	+0.009%	$14.5M	$26.9M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.220	+0.020%	$7.6M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.161	−0.045%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.180	−0.024%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0012%	8h	91.213	+0.012%	$1.0M	$5.1M	20x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	91.177	−0.027%	$1.1M	$5.6M	10x	as long as short
Binance CRCLUSDT	+0.0025%	8h	91.220	+0.020%	$103.7M	$394.9M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.203	+0.001%	$971K	$2.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus CRCL-USD	+0.0040%	1h	91.180	−0.024%	$93K	$291K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	91.194	−0.008%	$2K	$26K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.130	−0.079%	$68.1M	$43.3M	10x	as long as short
Polymarket Perps CRCL-USDshort	+0.0050%	1h	91.160	−0.046%	$382K	$1.2M	10x
SoDEX CRCL-USD	+0.0050%	1h	91.166	−0.039%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.070	−0.145%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	91.200	−0.002%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	91.180	−0.024%	$913K	$529K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0091%	8h	91.173	−0.032%	$419	$905	5x	as long as short
BloFin CRCL-USDT	+0.0097%	8h	91.230	+0.031%	$1.1M	$1.6M	20x	as long as short
Pacifica CRCL	+0.0100%	1h	91.180	−0.024%	$133K	$161K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.210	+0.009%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.170	−0.035%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.170	−0.035%	$909	$2K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0101%	8h	91.190	−0.013%	$62K	$1.1M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.154	−0.052%	$4	—	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0115%	8h	91.230	+0.031%	$22.1M	$61.9M	50x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	91.217	+0.016%	$415K	$294K	10x	as long as short
Phoenix CRCL	+0.0210%	1h	91.110	−0.101%	$27K	$82K	10x	as long as short
Lighter CRCLlong	+0.0216%	1h	91.202	long leg	$2.9M	$2.4M	10x
Nado CRCL-PERP	+0.0306%	1h	91.135	−0.074%	$133K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.040	+0.919%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0518%	1h	91.170	−0.035%	$4K	$768K	10x	as long as short
edgeX CRCLUSDC	+0.0917%	4h	91.164	−0.042%	$52K	$278K	10x	as long as short