Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0069%/8h= −7.6% APRpaid last 24h −0.017%

Price spread now: Polymarket Perps against Paradex+0.044%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Polymarket Perps is 0.044% dearer against Paradex than usual: you sell high and buy low (spread +0.044% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CRCL-USD-PERP	93.092	0.0119	pay 0.0119% / 8h	5h 51m	$428	$477	5x
Short	Polymarket Perps CRCL-USD	93.133	0.0050	get 0.0006% / 1h	51m 15s	$383K	$847K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Paradex. 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 ParadexbpFee Polymarket PerpsbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$14.51
Price spread: +0.044% → 0.000%: $4.42
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$22.09
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Polymarket Perps: live order book, 60 min ago. Net counts fees only.

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 Paradex no order-book sample	—	—	—	—	—
Sell Polymarket Perps live order book, 60 min ago	2.50 bp	10.6 bp −$11	11.2 bp −$112	doesn't fit	doesn't fit

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CRCL on 34 exchanges

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	−0.0048%	1h	92.950	−0.152%	$869K	$749K	10x	as long as short
Vest CRCL-USD-PERP	−0.0009%	1h	93.000	−0.099%	—	$30K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	93.120	+0.030%	$15.1M	$25.1M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	93.200	+0.116%	$18.5M	$33.4M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	93.100	+0.009%	$1.0M	$45K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	93.127	+0.038%	$1.0M	$2.5M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	93.061	−0.033%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	93.046	−0.049%	$68.0M	$40.1M	10x	as long as short
Polymarket Perps CRCL-USDshort	+0.0050%	1h	93.133	+0.044%	$383K	$847K	10x
SoDEX CRCL-USD	+0.0050%	1h	93.127	+0.038%	$47K	$3K	10x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	93.020	−0.077%	$1.0M	$3.8M	10x	as long as short
QFEX CRCL-USD	+0.0055%	1h	93.110	+0.019%	$1.3M	$1.6M	10x	as long as short
Injective CRCL/USDC PERP	+0.0072%	1h	92.090	−1.076%	$38K	$172K	30x	as long as short
Pacifica CRCL	+0.0100%	1h	93.090	−0.002%	$139K	$141K	10x	as long as short
Gate CRCL_USDT	+0.0100%	8h	93.190	+0.105%	$7.5M	$25.2M	50x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	93.160	+0.073%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	93.060	−0.034%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	93.120	+0.030%	$928	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	93.137	+0.048%	$4	—	10x	as long as short
Paradex CRCL-USD-PERPlong	+0.0119%	8h	93.092	long leg	$428	$477	5x
Deribit CRCL_USDC-PERPETUAL	+0.0180%	1h	93.100	+0.009%	$5K	$415K	10x	as long as short
Phoenix CRCL	+0.0197%	1h	93.094	+0.002%	$27K	$66K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	93.120	+0.030%	$94K	$213K	10x	as long as short
edgeX CRCLUSDC	+0.0231%	4h	93.084	−0.009%	$53K	$269K	10x	as long as short
Nado CRCL-PERP	+0.0275%	1h	93.061	−0.033%	$155K	$94K	3x	as long as short
Lighter CRCL	+0.0312%	1h	93.148	+0.060%	$3.0M	$2.1M	10x	as long as short
Variational Omni CRCL	+0.0312%	8h	93.131	+0.042%	$2.5M	$3.3M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0324%	8h	93.140	+0.052%	$23.0M	$57.0M	50x	as long as short
Aster CRCLUSDT	+0.0384%	8h	93.140	+0.052%	$1.1M	$4.5M	20x	as long as short
Extended CRCL_24_5-USD	+0.0392%	1h	93.099	+0.007%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0394%	8h	93.130	+0.041%	$107.8M	$352.2M	50x	as long as short
BloFin CRCL-USDT	+0.0515%	8h	93.130	+0.041%	$1.1M	$1.7M	20x	as long as short
RISEx CRCL/USDC	+0.0528%	1h	93.150	+0.062%	$418K	$235K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0793%	8h	93.146	+0.058%	$61K	$1.0M	10x	as long as short