Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0070%/8h= +7.7% APRpaid last 24h +0.072%

Price spread now: BloFin against Polymarket Perps+0.113%45s7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs+$12as 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−$300.303% of the position

Long on Polymarket Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.427%+$43 on $10k

Price spread, last 4 days (all we have)−0.155%−$15 · spread now +0.113%, 7d avg +0.020%

Together, before fees+0.272%+$27 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and BloFin is 0.093% dearer against Polymarket Perps than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.020%. 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	Polymarket Perps CRCL-USD	91.756	0.0050	pay 0.0006% / 1h	18m 07s	$358K	$1.1M	10x
Short	BloFin CRCL-USDT	91.860	0.0120	get 0.0120% / 8h	4h 18m	$1.1M	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.113%Rate

Funding earned: $14.7
Price spread: +0.113% → +0.020%: $9.3
Slippage, 4 orders: −$10.29
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$6.29
Costs to cover: 0.303%
Break-even: 10.0 days

Slippage from Polymarket Perps: live order book, 5 min ago; BloFin: 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 Polymarket Perps live order book, 5 min ago	0.76 bp	7.5 bp −$8	7.7 bp −$77	9.8 bp −$979	doesn't fit
Sell BloFin live order book, 4 min ago	1.09 bp	7.1 bp −$7	11.2 bp −$112	30.1 bp −$3,009	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	−0.0997%	8h	91.850	+0.102%	$16.5M	$35.1M	25x	as long as short
Vest CRCL-USD-PERP	−0.0069%	1h	91.560	−0.214%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.859	+0.112%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.766	+0.011%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.860	+0.113%	$104.6M	$389.5M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.870	+0.124%	$14.9M	$26.4M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.810	+0.059%	$417K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.910	+0.168%	$7.2M	$27.2M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.828	+0.078%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.950	+0.211%	$65K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.810	+0.059%	$1.0M	$49K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.790	+0.037%	$906K	$490K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0023%	8h	91.900	+0.157%	$22.1M	$61.1M	50x	as long as short
QFEX CRCL-USD	+0.0028%	1h	91.780	+0.026%	$1.3M	$2.0M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.853	+0.106%	$973K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0034%	1h	91.782	+0.028%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.780	+0.026%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.757	+0.001%	$68.4M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USDlong	+0.0050%	1h	91.756	long leg	$358K	$1.1M	10x
SoDEX CRCL-USD	+0.0050%	1h	91.802	+0.050%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.820	+0.070%	$1.0M	$5.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0099%	8h	91.793	+0.041%	$422	$905	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.720	−0.039%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.820	+0.070%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.750	−0.007%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.780	+0.026%	$915	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.792	+0.040%	$4	—	10x	as long as short
BloFin CRCL-USDTshort	+0.0120%	8h	91.860	+0.113%	$1.1M	$1.3M	20x
Phoenix CRCL	+0.0148%	1h	91.832	+0.083%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0184%	1h	91.853	+0.106%	$3.0M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0295%	1h	91.800	+0.048%	$4K	$767K	10x	as long as short
Nado CRCL-PERP	+0.0301%	1h	91.724	−0.035%	$130K	$104K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.400	+0.702%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0735%	4h	91.815	+0.065%	$51K	$276K	10x	as long as short