Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0238%/8h= −26.0% APRpaid last 24h −0.146%

Price spread now: Polymarket Perps against edgeX+0.042%7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$122as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$340.340% of the position

Long on edgeX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.878%−$88 on $10k

Price spread, last 4 days (all we have)−0.205%−$20 · spread now +0.042%, 7d avg −0.020%

Together, before fees−1.082%+ Points / potential airdropedgeX: Active · farm board−$108 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.062% dearer against edgeX than usual: you sell high and buy low (spread +0.042% now, against its 7-day average of −0.020%): +$6 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 21 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CRCLUSDC	95.912	0.0689	pay 0.0344% / 4h	43m 05s	$55K	$279K	10x
Short	Polymarket Perps CRCL-USD	95.952	0.0451	get 0.0056% / 1h	43m 05s	$305K	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against edgeX. 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 edgeXbpFee Polymarket PerpsbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$49.91
Price spread: +0.042% → −0.020%: $6.21
Slippage, 4 orders: −$16.96
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$77.66
Costs to cover: 0.340%
Break-even: never at this rate

Slippage from edgeX: live order book, 63 min ago; Polymarket Perps: 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 edgeX live order book, 63 min ago	6.46 bp	11.6 bp −$12	24.1 bp −$241	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	1.35 bp	5.4 bp −$5	6.0 bp −$60	9.9 bp −$988	doesn't fit

CRCL on 34 exchanges

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
Coinbase International CRCL-PERP-INTX	−0.0024%	1h	95.750	−0.168%	$873K	$807K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	96.110	+0.207%	$16.1M	$29.5M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	95.950	+0.040%	$438K	$231K	10x	as long as short
Bitget CRCLUSDT	0.0000%	8h	96.140	+0.238%	$19.3M	$39.4M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	95.910	−0.002%	$1.1M	$47K	10x	as long as short
QFEX CRCL-USD	+0.0014%	1h	95.960	+0.051%	$1.4M	$1.7M	10x	as long as short
Gate CRCL_USDT	+0.0032%	8h	96.040	+0.134%	$7.8M	$26.8M	50x	as long as short
Injective CRCL/USDC PERP	+0.0033%	1h	95.630	−0.294%	$39K	$172K	30x	as long as short
Aftermath Perps CRCLUSD	+0.0043%	1h	95.682	−0.239%	$2K	$29K	5x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	95.910	−0.002%	—	$29K	25x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	95.770	−0.148%	$1.1M	$4.4M	10x	as long as short
Arcus CRCL-USD	+0.0057%	1h	95.920	+0.009%	$99K	$242K	10x	as long as short
Lighter RH CRCL	+0.0080%	1h	95.971	+0.062%	$1.0M	$2.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	95.977	+0.068%	$143K	$151K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	95.820	−0.095%	$2.5M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	95.810	−0.106%	$98K	$26K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	95.910	−0.002%	$756	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	95.940	+0.030%	$4	—	10x	as long as short
Phoenix CRCL	+0.0136%	1h	95.703	−0.217%	$30K	$94K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0138%	1h	95.940	+0.030%	$69.8M	$44.7M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0151%	8h	95.918	+0.007%	$441	$477	5x	as long as short
Variational Omni CRCL	+0.0172%	8h	95.761	−0.157%	$2.7M	$3.4M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0231%	8h	96.140	+0.238%	$24.0M	$68.9M	50x	as long as short
Extended CRCL_24_5-USD	+0.0288%	1h	95.952	+0.042%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0288%	8h	96.058	+0.153%	$112.6M	$399.3M	50x	as long as short
Aster CRCLUSDT	+0.0303%	8h	96.020	+0.113%	$1.2M	$4.8M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0352%	8h	95.914	+0.002%	$56K	$1.0M	10x	as long as short
BloFin CRCL-USDT	+0.0403%	8h	95.980	+0.071%	$1.2M	$1.8M	20x	as long as short
Nado CRCL-PERP	+0.0422%	1h	95.828	−0.088%	$154K	$93K	3x	as long as short
Polymarket Perps CRCL-USDshort	+0.0451%	1h	95.952	+0.042%	$305K	$1.4M	10x
Lighter CRCL	+0.0520%	1h	96.024	+0.117%	$3.3M	$2.5M	10x	as long as short
edgeX CRCLUSDClong	+0.0689%	4h	95.912	long leg	$55K	$279K	10x
Deribit CRCL_USDC-PERPETUAL	+0.1316%	1h	95.950	+0.040%	$5K	$415K	10x	as long as short
SoDEX CRCL-USD	+0.1434%	1h	95.973	+0.064%	$48K	$3K	10x	as long as short