CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0025%/8h= +2.7% APRnext payment +$0.03 per $10,000 · paid last 24h −0.008%

Price spread now: Lighter RH against Polymarket Perps+0.113%7-day average +0.104% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$200.199% of the position

Long on Polymarket Perps Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 7 days−0.139%−$14 · spread now +0.113%, 7d avg +0.104%

Together, before fees−0.117%+ Points / potential airdropLighter RH: Points live · farm board−$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.104%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps CRCL-USD	94.649	0.0063	pay 0.0008% / 1h	46m 02s	$367K	$1.1M	10x
Short	Lighter RH CRCL	94.756	0.0088	get 0.0011% / 1h	46m 02s	$893K	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.113%Rate

Funding earned: $5.21
Price spread: +0.113% → +0.104%: $0.9
Slippage, 4 orders: −$11.95
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$13.84
Costs to cover: 0.199%
Break-even: 25.6 days

Slippage from Polymarket Perps: live order book, 2 min ago; Lighter RH: live order book, 2 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	2.27 bp	6.6 bp −$7	6.8 bp −$68	9.0 bp −$905	doesn't fit
Sell Lighter RH live order book, 2 min ago	3.49 bp	3.6 bp −$4	6.5 bp −$65	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
Gate CRCL_USDT	0.0000%	8h	94.770	+0.128%	$7.3M	$27.5M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.730	+0.086%	$1.0M	$52K	10x	as long as short
QFEX CRCL-USD	+0.0022%	1h	94.650	+0.001%	$1.4M	$2.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	94.590	−0.062%	$941K	$724K	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.520	−0.136%	—	$45K	25x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.673	+0.025%	$48K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.510	−0.147%	$1.1M	$5.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0051%	1h	94.534	−0.121%	$2K	$21K	5x	as long as short
Polymarket Perps CRCL-USDlong	+0.0063%	1h	94.649	long leg	$367K	$1.1M	10x
Lighter RH CRCLshort	+0.0088%	1h	94.756	+0.113%	$893K	$2.9M	10x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica CRCL	+0.0100%	1h	94.620	−0.031%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.630	−0.020%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.450	−0.210%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.680	+0.033%	$944	$3K	10x	as long as short
Bybit CRCLUSDT	+0.0101%	8h	94.770	+0.128%	$15.6M	$25.8M	50x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.736	+0.092%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0113%	8h	94.523	−0.133%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0129%	8h	94.626	−0.024%	$776	$740	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0152%	8h	94.531	−0.125%	$63K	$1.1M	10x	as long as short
Binance CRCLUSDT	+0.0173%	8h	94.757	+0.114%	$109.1M	$389.2M	50x	as long as short
Extended CRCL_24_5-USD	+0.0176%	1h	94.704	+0.059%	$1.1M	$3.8M	10x	as long as short
Aster CRCLUSDT	+0.0186%	8h	94.716	+0.071%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0201%	8h	94.770	+0.128%	$22.9M	$60.7M	50x	as long as short
tradeXYZ xyz:CRCL	+0.0280%	1h	94.700	+0.054%	$71.0M	$42.7M	10x	as long as short
Phoenix CRCL	+0.0288%	1h	94.557	−0.097%	$28K	$92K	10x	as long as short
BloFin CRCL-USDT	+0.0293%	8h	94.600	−0.052%	$1.1M	$589K	20x	as long as short
Nado CRCL-PERP	+0.0306%	1h	94.622	−0.028%	$127K	$73K	3x	as long as short
Bitget CRCLUSDT	+0.0313%	8h	94.780	+0.138%	$16.9M	$35.4M	25x	as long as short
Lighter CRCL	+0.0424%	1h	94.770	+0.128%	$3.1M	$2.2M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.950	+0.318%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0525%	4h	94.516	−0.141%	$24K	$268K	10x	as long as short
Arcus CRCL-USD	+0.0533%	1h	94.650	+0.001%	$97K	$275K	10x	as long as short
RISEx CRCL/USDC	+0.0534%	1h	94.641	−0.009%	$432K	$312K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0912%	1h	94.740	+0.096%	$4K	$772K	10x	as long as short