CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0082%/8h= +9.0% APRnext payment +$0.10 per $10,000 · paid last 24h +0.003%

Price spread now: Polymarket Perps against QFEX−0.015%7-day average −0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$290.294% of the position

Long on QFEX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.006%+$1 on $10k

Price spread, last 7 days+0.011%+$1 · spread now −0.015%, 7d avg −0.056%

Together, before fees+0.017%+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Polymarket Perps is 0.041% dearer against QFEX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRCL-USD	91.280	0.0071	pay 0.0009% / 1h	18m 19s	$1.3M	$1.7M	10x
Short	Polymarket Perps CRCL-USD	91.266	0.0153	get 0.0019% / 1h	18m 19s	$378K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against QFEX. 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 QFEXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.015%Rate

Funding earned: $17.25
Price spread: −0.015% → −0.056%: $4.11
Slippage, 4 orders: −$11.37
Fee QFEX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$8
Costs to cover: 0.294%
Break-even: 10.2 days

Slippage from QFEX: live order book, 9 min ago; Polymarket Perps: 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 QFEX live order book, 9 min ago	2.74 bp	7.7 bp −$8	8.9 bp −$89	17.9 bp −$1,793	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	0.05 bp	4.1 bp −$4	4.3 bp −$43	7.6 bp −$762	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	−0.0359%	8h	91.360	+0.088%	$17.5M	$36.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0079%	1h	90.970	−0.340%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.310	+0.033%	$7.9M	$27.7M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.320	+0.044%	$1.0M	$48K	10x	as long as short
edgeX CRCLUSDC	+0.0006%	4h	91.021	−0.284%	$52K	$270K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.282	+0.002%	$983K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.184	−0.105%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.170	−0.121%	$95K	$296K	10x	as long as short
Bybit CRCLUSDT	+0.0046%	8h	91.300	+0.022%	$14.8M	$26.5M	50x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.250	−0.033%	$46K	$3K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.200	−0.088%	$1.1M	$4.8M	10x	as long as short
QFEX CRCL-USDlong	+0.0071%	1h	91.280	long leg	$1.3M	$1.7M	10x
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.050	−0.252%	$876K	$495K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0096%	1h	91.203	−0.084%	$67.3M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.250	−0.033%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.210	−0.077%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.040	−0.263%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.270	−0.011%	$910	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.286	+0.007%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0112%	8h	91.119	−0.176%	$2.4M	$3.3M	—	as long as short
Polymarket Perps CRCL-USDshort	+0.0153%	1h	91.266	−0.015%	$378K	$1.3M	10x
Paradex CRCL-USD-PERP	+0.0155%	8h	91.279	−0.001%	$420	$905	5x	as long as short
Aster CRCLUSDT	+0.0181%	8h	91.308	+0.031%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0199%	8h	91.280	0.000%	$104.8M	$389.6M	50x	as long as short
Extended CRCL_24_5-USD	+0.0200%	1h	91.257	−0.025%	$1.0M	$5.0M	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.188	−0.101%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0244%	8h	91.144	−0.149%	$70K	$1.1M	10x	as long as short
Lighter CRCL	+0.0248%	1h	91.284	+0.004%	$2.9M	$2.4M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0275%	8h	91.300	+0.022%	$22.3M	$61.7M	50x	as long as short
BloFin CRCL-USDT	+0.0315%	8h	91.330	+0.055%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0430%	1h	91.214	−0.073%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.570	+0.318%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.295	+0.016%	$412K	$272K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0518%	1h	91.260	−0.022%	$5K	$769K	10x	as long as short