Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0013%/8h= −1.4% APRpaid last 24h −0.044%

Price spread now: Polymarket Perps against OKX−0.126%7-day average −0.117% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

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

costs, in and out, $10k−$290.286% of the position

Long on OKX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.181%−$18 on $10k

Price spread, last 7 days+0.009%+$1 · spread now −0.126%, 7d avg −0.117%

Together, before fees−0.172%−$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.117%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CRCL-USDT-SWAP	92.080	0.0063	pay 0.0063% / 8h	3h 48m	$22.3M	$61.6M	50x
Short	Polymarket Perps CRCL-USD	91.964	0.0050	get 0.0006% / 1h	48m 50s	$359K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against OKX. 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 OKXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.126%Rate

Funding earned: −$2.77
Price spread: −0.126% → −0.117%: −$0.89
Slippage, 4 orders: −$10.59
Fee OKX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$32.25
Costs to cover: 0.286%
Break-even: never at this rate

Slippage from OKX: live order book, 5 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 OKX live order book, 5 min ago	0.54 bp	7.1 bp −$7	13.8 bp −$138	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 4 min ago	2.71 bp	8.3 bp −$8	8.6 bp −$86	9.7 bp −$970	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	−0.0704%	8h	92.070	−0.011%	$16.8M	$35.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0068%	1h	91.760	−0.348%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.030	−0.054%	$14.9M	$26.4M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.080	0.000%	$7.3M	$27.2M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.019	−0.066%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.050	−0.033%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0010%	8h	92.003	−0.084%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0014%	8h	92.029	−0.056%	$104.8M	$390.7M	50x	as long as short
Extended CRCL_24_5-USD	+0.0016%	1h	91.976	−0.113%	$1.1M	$5.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	92.002	−0.085%	$2K	$25K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0040%	1h	92.016	−0.070%	$975K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.030	−0.054%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.910	−0.185%	$907K	$491K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.924	−0.169%	$68.3M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USDshort	+0.0050%	1h	91.964	−0.126%	$359K	$1.1M	10x
SoDEX CRCL-USD	+0.0050%	1h	91.992	−0.096%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.940	−0.152%	$1.0M	$5.2M	10x	as long as short
BloFin CRCL-USDT	+0.0056%	8h	92.040	−0.043%	$1.1M	$1.3M	20x	as long as short
QFEX CRCL-USD	+0.0060%	1h	92.000	−0.087%	$1.3M	$1.9M	10x	as long as short
OKX CRCL-USDT-SWAPlong	+0.0063%	8h	92.080	long leg	$22.3M	$61.6M	50x
GRVT CRCL_USDT_Perp	+0.0064%	8h	92.190	+0.119%	$64K	$1.1M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.000	−0.087%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.990	−0.098%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.120	+0.043%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.970	−0.119%	$917	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.984	−0.104%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	92.005	−0.081%	$418K	$299K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0129%	8h	91.990	−0.098%	$423	$905	5x	as long as short
Phoenix CRCL	+0.0182%	1h	92.079	−0.001%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0304%	1h	92.018	−0.067%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0386%	1h	91.915	−0.179%	$134K	$106K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.460	+0.413%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0488%	4h	92.164	+0.091%	$51K	$276K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0621%	1h	91.980	−0.109%	$4K	$768K	10x	as long as short