Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0115%/8h= +12.6% APRpaid last 24h +0.028%

Price spread now: KuCoin against Polymarket Perps+0.060%49s7-day average +0.110% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as 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−$980.980% of the position

Long on Polymarket Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.229%+$23 on $10k

Price spread, last 7 days−0.075%−$7 · spread now +0.060%, 7d avg +0.110%

Together, before fees+0.154%+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.049% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread +0.060% now, against its 7-day average of +0.110%). If the spread goes back, that is −$5 on $10k: about 34 hours of funding at the current rate (+$3 a day). The two prices were read 49 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	94.223	−0.0015	get 0.0002% / 1h	52m 40s	$365K	$1.1M	10x
Short	KuCoin CRCLUSDTM	94.280	0.0100	get 0.0100% / 8h	7h 52m	$3.0M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.060%Rate

Funding earned: $24.21
Price spread: +0.060% → +0.110%: −$4.9
Slippage, 4 orders: −$78
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$78.69
Costs to cover: 0.980%
Break-even: 29.8 days

Slippage from Polymarket Perps: live order book, just now; KuCoin: live order book, 5 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, just now	2.02 bp	6.0 bp −$6	6.2 bp −$62	9.1 bp −$907	doesn't fit
Sell KuCoin live order book, 5 min ago	2.11 bp	37.2 bp −$37	doesn't fit	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
tradeXYZ xyz:CRCL	−0.0177%	1h	94.118	−0.111%	$71.6M	$42.1M	10x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0064%	1h	94.290	+0.071%	$943K	$726K	10x	as long as short
Polymarket Perps CRCL-USDlong	−0.0015%	1h	94.223	long leg	$365K	$1.1M	10x
Bybit CRCLUSDT	0.0000%	8h	94.280	+0.060%	$15.6M	$25.9M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.280	+0.060%	$7.2M	$26.9M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.330	+0.114%	$1.0M	$52K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.241	+0.019%	$890K	$2.8M	10x	as long as short
QFEX CRCL-USD	+0.0042%	1h	94.190	−0.035%	$1.3M	$2.7M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.260	+0.039%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0049%	1h	94.455	+0.246%	$2K	$21K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX CRCL-USD	+0.0050%	1h	94.296	+0.077%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.290	+0.071%	$1.1M	$5.8M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.190	−0.035%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTMshort	+0.0100%	8h	94.280	+0.060%	$3.0M	$1.9M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	94.530	+0.326%	$70K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.320	+0.103%	$940	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.493	+0.286%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0114%	8h	94.204	−0.020%	$772	$740	5x	as long as short
OKX CRCL-USDT-SWAP	+0.0157%	8h	94.270	+0.050%	$22.8M	$60.3M	50x	as long as short
Variational Omni CRCL	+0.0187%	8h	94.512	+0.307%	$2.5M	$3.1M	—	as long as short
Nado CRCL-PERP	+0.0222%	1h	94.246	+0.024%	$132K	$76K	3x	as long as short
Binance CRCLUSDT	+0.0239%	8h	94.250	+0.029%	$109.2M	$389.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0240%	1h	94.245	+0.024%	$1.1M	$3.8M	10x	as long as short
Aster CRCLUSDT	+0.0240%	8h	94.278	+0.059%	$1.1M	$4.9M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0249%	8h	94.620	+0.421%	$55K	$1.1M	10x	as long as short
Bitget CRCLUSDT	+0.0251%	8h	94.320	+0.103%	$16.9M	$35.2M	25x	as long as short
Phoenix CRCL	+0.0296%	1h	94.366	+0.152%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0304%	1h	94.243	+0.021%	$3.0M	$2.2M	10x	as long as short
BloFin CRCL-USDT	+0.0362%	8h	94.320	+0.103%	$1.1M	$585K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.960	+0.782%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.410	+0.198%	$97K	$276K	10x	as long as short
edgeX CRCLUSDC	+0.0597%	4h	94.645	+0.448%	$24K	$267K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	94.323	+0.106%	$430K	$303K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0705%	1h	94.330	+0.114%	$4K	$772K	10x	as long as short