Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0043%/8h= −4.7% APRpaid last 24h +0.044%

Price spread now: OKX against Polymarket Perps+0.047%7-day average +0.115% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$290.292% of the position

Long on Polymarket Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.181%+$18 on $10k

Price spread, last 7 days+0.008%+$1 · spread now +0.047%, 7d avg +0.115%

Together, before fees+0.189%+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.068% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.115%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.181%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps CRCL-USD	91.957	0.0050	pay 0.0006% / 1h	5m 18s	$358K	$1.1M	10x
Short	OKX CRCL-USDT-SWAP	92.000	0.0007	get 0.0007% / 8h	5h 05m	$21.6M	$59.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.047%Rate

Funding earned: −$8.98
Price spread: +0.047% → +0.115%: −$6.8
Slippage, 4 orders: −$11.22
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$45
Costs to cover: 0.292%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; OKX: live order book, 3 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, 3 min ago	2.06 bp	6.6 bp −$7	6.9 bp −$69	9.1 bp −$915	doesn't fit
Sell OKX live order book, 3 min ago	0.54 bp	6.9 bp −$7	13.6 bp −$136	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
Bitget CRCLUSDT	−0.1037%	8h	92.030	+0.079%	$16.1M	$34.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0075%	1h	91.820	−0.149%	—	$31K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	92.080	+0.134%	$908K	$501K	10x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.970	+0.014%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	92.003	+0.050%	$105.1M	$386.3M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.000	+0.047%	$15.2M	$25.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.025	+0.074%	$420K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.070	+0.123%	$7.2M	$27.0M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.967	+0.011%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	92.212	+0.277%	$68K	$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	92.060	+0.112%	$1.0M	$49K	10x	as long as short
BloFin CRCL-USDT	+0.0001%	8h	92.100	+0.156%	$1.1M	$1.3M	20x	as long as short
Aster CRCLUSDT	+0.0003%	8h	92.016	+0.064%	$1.1M	$5.0M	20x	as long as short
OKX CRCL-USDT-SWAPshort	+0.0007%	8h	92.000	+0.047%	$21.6M	$59.7M	50x
QFEX CRCL-USD	+0.0023%	1h	91.970	+0.014%	$1.3M	$2.1M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0024%	1h	92.031	+0.081%	$2K	$24K	5x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.001	+0.048%	$976K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.040	+0.090%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.928	−0.032%	$68.5M	$41.4M	10x	as long as short
Polymarket Perps CRCL-USDlong	+0.0050%	1h	91.957	long leg	$358K	$1.1M	10x
SoDEX CRCL-USD	+0.0050%	1h	91.981	+0.026%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.960	+0.003%	$1.0M	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0083%	8h	91.986	+0.032%	$754	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.993	+0.039%	$133K	$156K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.030	+0.079%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.140	+0.199%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.000	+0.047%	$917	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.971	+0.015%	$4	—	10x	as long as short
Phoenix CRCL	+0.0183%	1h	92.176	+0.238%	$27K	$84K	10x	as long as short
Lighter CRCL	+0.0216%	1h	92.011	+0.059%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0221%	1h	91.979	+0.024%	$131K	$104K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0294%	1h	91.970	+0.014%	$4K	$767K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.530	+0.623%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0528%	4h	92.093	+0.148%	$23K	$249K	10x	as long as short