CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0181%/8h= +19.8% APRnext payment +$0.23 per $10,000 · paid last 24h +0.043%

Price spread now: Phoenix against Polymarket Perps+0.347%59s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Polymarket Perps Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.195%+$19 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Phoenix is 0.347% dearer against Polymarket Perps than usual: you sell high and buy low: +$35 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 59 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	91.710	0.0050	pay 0.0006% / 1h	59m 59s	$355K	$1.1M	10x
Short	Phoenix CRCL	92.028	0.0231	get 0.0029% / 1h	59m 59s	$27K	$92K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.347%Rate

Funding earned: $38
Price spread: +0.347% → 0.000%: $34.67
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $57.67
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Polymarket Perps: live order book, 3 min ago; Phoenix: no order-book sample. Net counts fees only.

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	2.12 bp	6.1 bp −$6	6.4 bp −$64	9.3 bp −$925	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CRCL on 33 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	−0.0985%	8h	91.790	+0.087%	$15.8M	$34.4M	25x	as long as short
Vest CRCL-USD-PERP	−0.0066%	1h	91.540	−0.185%	—	$40K	25x	as long as short
Gate CRCL_USDT	−0.0042%	8h	91.730	+0.022%	$7.1M	$27.0M	50x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.840	+0.142%	$906K	$552K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.790	+0.087%	$15.0M	$25.6M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.750	+0.044%	$419K	$297K	10x	as long as short
Variational Omni CRCL	0.0000%	8h	91.759	+0.053%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.980	+0.294%	$63K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.750	+0.044%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0024%	1h	91.843	+0.145%	$2K	$23K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	91.768	+0.063%	$972K	$2.9M	10x	as long as short
Extended CRCL_24_5-USD	+0.0040%	1h	91.732	+0.024%	$1.1M	$5.7M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.860	+0.164%	$93K	$269K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0043%	8h	91.820	+0.120%	$21.7M	$58.9M	50x	as long as short
Binance CRCLUSDT	+0.0043%	8h	91.756	+0.050%	$104.5M	$383.7M	50x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.710	0.000%	$68.8M	$41.1M	10x	as long as short
Polymarket Perps CRCL-USDlong	+0.0050%	1h	91.710	long leg	$355K	$1.1M	10x
SoDEX CRCL-USD	+0.0050%	1h	91.726	+0.017%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.630	−0.087%	$1.0M	$5.3M	10x	as long as short
Aster CRCLUSDT	+0.0051%	8h	91.761	+0.055%	$1.1M	$4.9M	20x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.750	+0.044%	$1.3M	$2.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0071%	8h	91.769	+0.065%	$753	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.765	+0.060%	$132K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.800	+0.098%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.910	+0.218%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.710	0.000%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.714	+0.004%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0171%	1h	91.722	+0.013%	$131K	$103K	3x	as long as short
Lighter CRCL	+0.0208%	1h	91.791	+0.088%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCLshort	+0.0231%	1h	92.028	+0.347%	$27K	$92K	10x
Deribit CRCL_USDC-PERPETUAL	+0.0295%	1h	91.740	+0.033%	$4K	$768K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.370	+0.720%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0786%	4h	91.980	+0.295%	$23K	$268K	10x	as long as short