CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0471%/8h= +51.5% APRnext payment +$0.59 per $10,000 · paid last 24h +0.057%

Price spread now: Arcus against Polymarket Perps−0.036%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$300.299% of the position

Long on Polymarket Perps Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.081%+$8 on $10k

Price spread, last 4 days (all we have)+0.314%+$31 · spread now −0.036%, 7d avg −0.019%

Together, before fees+0.395%+$39 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.019%, so right now this pair is about funding alone: +$14 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.081% in total (about 8.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.59 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps CRCL-USD	94.294	0.0050	pay 0.0006% / 1h	36m 21s	$365K	$1.1M	10x
Short	Arcus CRCL-USD	94.260	0.0521	get 0.0065% / 1h	36m 21s	$96K	$276K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Polymarket Perps. 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 Polymarket PerpsbpFee ArcusbpOrdersPrice spread, now −0.036%Rate

Funding earned: $98.82
Price spread: −0.036% → −0.019%: −$1.68
Slippage, 4 orders: −$17.41
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $67.23
Costs to cover: 0.299%
Break-even: 2.2 days

Slippage from Polymarket Perps: live order book, 2 min ago; Arcus: live order book, 37 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 Polymarket Perps live order book, 2 min ago	1.96 bp	7.3 bp −$7	7.6 bp −$76	9.6 bp −$958	doesn't fit
Sell Arcus live order book, 37 min ago	2.12 bp	6.3 bp −$6	9.0 bp −$90	doesn't fit	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	94.100	−0.206%	$941K	$619K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.350	+0.059%	$7.2M	$27.0M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.341	+0.050%	$68K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.260	−0.036%	$1.0M	$51K	10x	as long as short
Bybit CRCLUSDT	+0.0030%	8h	94.350	+0.059%	$15.5M	$25.8M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.357	+0.067%	$891K	$2.8M	10x	as long as short
QFEX CRCL-USD	+0.0042%	1h	94.350	+0.059%	$1.4M	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0043%	1h	94.233	−0.064%	$2K	$22K	5x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.200	−0.100%	—	$37K	25x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	94.287	−0.007%	$71.7M	$42.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps CRCL-USDlong	+0.0050%	1h	94.294	long leg	$365K	$1.1M	10x
SoDEX CRCL-USD	+0.0050%	1h	94.267	−0.029%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.170	−0.132%	$1.1M	$5.7M	10x	as long as short
Bitget CRCLUSDT	+0.0064%	8h	94.370	+0.081%	$17.0M	$34.9M	25x	as long as short
Pacifica CRCL	+0.0100%	1h	94.284	−0.011%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.360	+0.070%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.220	−0.078%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.340	+0.049%	$941	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.299	+0.006%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0110%	8h	94.371	+0.082%	$774	$740	5x	as long as short
Variational Omni CRCL	+0.0149%	8h	94.220	−0.078%	$2.5M	$3.1M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0157%	8h	94.350	+0.059%	$22.8M	$60.1M	50x	as long as short
Binance CRCLUSDT	+0.0204%	8h	94.340	+0.049%	$109.3M	$387.3M	50x	as long as short
Extended CRCL_24_5-USD	+0.0208%	1h	94.330	+0.038%	$1.1M	$5.3M	10x	as long as short
Aster CRCLUSDT	+0.0209%	8h	94.358	+0.068%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0231%	1h	94.280	−0.015%	$132K	$76K	3x	as long as short
Phoenix CRCL	+0.0296%	1h	94.226	−0.072%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0304%	1h	94.369	+0.080%	$3.0M	$2.2M	10x	as long as short
BloFin CRCL-USDT	+0.0324%	8h	94.310	+0.017%	$1.1M	$560K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.730	+0.462%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0464%	4h	94.309	+0.016%	$24K	$268K	10x	as long as short
Arcus CRCL-USDshort	+0.0521%	1h	94.260	−0.036%	$96K	$276K	10x
RISEx CRCL/USDC	+0.0677%	1h	94.350	+0.059%	$430K	$299K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0705%	1h	94.290	−0.004%	$4K	$772K	10x	as long as short