Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0923%/8h= +101.1% APRpaid last 24h +0.146%

Price spread now: edgeX against Polymarket Perps+0.031%64s7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs+$47as 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−$410.409% of the position

Long on Polymarket Perps Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.876%+$88 on $10k

Price spread, last 4 days (all we have)+0.211%+$21 · spread now +0.031%, 7d avg +0.024%

Together, before fees+1.087%+ Points / potential airdropedgeX: Active · farm board+$109 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.024%, so right now this pair is about funding alone: +$28 a day on $10k at the current rate. The two prices were read 64 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	93.079	0.0050	pay 0.0006% / 1h	52m 27s	$382K	$847K	10x
Short	edgeX CRCLUSDC	93.108	0.0973	get 0.0487% / 4h	1h 52m	$53K	$268K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.031%Rate

Funding earned: $193.91
Price spread: +0.031% → +0.024%: $0.7
Slippage, 4 orders: −$23.9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $153.71
Costs to cover: 0.409%
Break-even: 1.5 days

Slippage from Polymarket Perps: live order book, 58 min ago; edgeX: live order book, 58 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, 58 min ago	2.50 bp	7.6 bp −$8	9.5 bp −$95	doesn't fit	doesn't fit
Sell edgeX live order book, 58 min ago	5.97 bp	11.3 bp −$11	23.5 bp −$235	doesn't fit	doesn't fit

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	−0.139%	$869K	$749K	10x	as long as short
Vest CRCL-USD-PERP	−0.0010%	1h	92.970	−0.117%	—	$30K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	93.100	+0.023%	$15.1M	$25.1M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	93.120	+0.044%	$18.4M	$33.4M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	93.140	+0.066%	$1.0M	$45K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	93.097	+0.019%	$1.0M	$2.5M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	93.076	−0.003%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	93.030	−0.053%	$68.0M	$40.1M	10x	as long as short
Polymarket Perps CRCL-USDlong	+0.0050%	1h	93.079	long leg	$382K	$847K	10x
SoDEX CRCL-USD	+0.0050%	1h	93.125	+0.049%	$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	−0.063%	$1.0M	$3.8M	10x	as long as short
QFEX CRCL-USD	+0.0055%	1h	93.060	−0.020%	$1.3M	$1.6M	10x	as long as short
Injective CRCL/USDC PERP	+0.0072%	1h	92.090	−1.063%	$38K	$172K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0072%	1h	93.090	+0.012%	$5K	$415K	10x	as long as short
Gate CRCL_USDT	+0.0099%	8h	93.110	+0.033%	$7.5M	$25.2M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	93.060	−0.020%	$139K	$141K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	93.140	+0.066%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	93.070	−0.010%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	93.100	+0.023%	$928	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	93.128	+0.052%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0121%	8h	93.067	−0.013%	$428	$477	5x	as long as short
Phoenix CRCL	+0.0197%	1h	93.194	+0.124%	$28K	$66K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	93.070	−0.010%	$94K	$213K	10x	as long as short
Nado CRCL-PERP	+0.0270%	1h	93.050	−0.031%	$155K	$94K	3x	as long as short
Lighter CRCL	+0.0312%	1h	93.127	+0.052%	$3.0M	$2.1M	10x	as long as short
Variational Omni CRCL	+0.0312%	8h	93.131	+0.056%	$2.5M	$3.3M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0324%	8h	93.100	+0.023%	$23.0M	$57.0M	50x	as long as short
Aster CRCLUSDT	+0.0384%	8h	93.114	+0.038%	$1.1M	$4.5M	20x	as long as short
Extended CRCL_24_5-USD	+0.0392%	1h	93.049	−0.032%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0394%	8h	93.094	+0.016%	$107.7M	$352.3M	50x	as long as short
BloFin CRCL-USDT	+0.0515%	8h	93.130	+0.055%	$1.1M	$1.7M	20x	as long as short
RISEx CRCL/USDC	+0.0528%	1h	93.105	+0.028%	$417K	$235K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0805%	8h	93.180	+0.109%	$61K	$1.0M	10x	as long as short
edgeX CRCLUSDCshort	+0.0973%	4h	93.108	+0.031%	$53K	$268K	10x