CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0270%/8h= −29.6% APRnext payment −$0.34 per $10,000 · paid last 24h −0.071%

Price spread now: Polymarket Perps against Lighter−0.047%7-day average −0.163% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$2as in the Price arb table

costs, in and out, $10k−$140.139% of the position

Long on Lighter Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.695%−$69 on $10k

Price spread, last 7 days−0.004%$0 · spread now −0.047%, 7d avg −0.163%

Together, before fees−0.699%+ Points / potential airdropLighter: Season 3 · farm board−$70 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.117% dearer against Lighter than usual: you sell high and buy low (spread −0.047% now, against its 7-day average of −0.163%): +$12 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 35 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter CRCL	94.576	0.0320	pay 0.0040% / 1h	13m 18s	$3.1M	$2.2M	10x
Short	Polymarket Perps CRCL-USD	94.532	0.0050	get 0.0006% / 1h	13m 18s	$366K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Lighter. 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 LighterbpFee Polymarket PerpsbpOrdersPrice spread, now −0.047%Rate

Funding earned: −$56.7
Price spread: −0.047% → −0.163%: $11.66
Slippage, 4 orders: −$5.88
Fee Lighter: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$58.91
Costs to cover: 0.139%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 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 Lighter live order book, 4 min ago	1.16 bp	1.4 bp −$1	12.6 bp −$126	39.5 bp −$3,946	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	0.05 bp	4.1 bp −$4	6.7 bp −$67	10.0 bp −$1,000	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	94.600	+0.025%	$7.2M	$27.8M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.610	+0.036%	$1.0M	$52K	10x	as long as short
QFEX CRCL-USD	+0.0022%	1h	94.530	−0.049%	$1.4M	$2.7M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.567	−0.010%	$893K	$2.9M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	94.510	−0.070%	$940K	$723K	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.520	−0.059%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USDshort	+0.0050%	1h	94.532	−0.047%	$366K	$1.1M	10x
SoDEX CRCL-USD	+0.0050%	1h	94.537	−0.041%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.470	−0.112%	$1.1M	$5.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0051%	1h	94.598	+0.023%	$2K	$21K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CRCLUSDT	+0.0097%	8h	94.560	−0.017%	$15.5M	$25.9M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	94.540	−0.038%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.600	+0.025%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.570	−0.006%	$70K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.560	−0.017%	$943	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.578	+0.002%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0114%	8h	94.553	−0.025%	$775	$740	5x	as long as short
tradeXYZ xyz:CRCL	+0.0143%	1h	94.498	−0.082%	$71.6M	$43.6M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0186%	8h	94.560	−0.017%	$22.8M	$60.8M	50x	as long as short
Variational Omni CRCL	+0.0193%	8h	94.671	+0.101%	$2.5M	$3.1M	—	as long as short
Extended CRCL_24_5-USD	+0.0248%	1h	94.522	−0.057%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0249%	8h	94.543	−0.034%	$109.4M	$390.8M	50x	as long as short
Aster CRCLUSDT	+0.0251%	8h	94.580	+0.004%	$1.1M	$4.9M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0251%	8h	94.670	+0.099%	$54K	$1.1M	10x	as long as short
Nado CRCL-PERP	+0.0262%	1h	94.513	−0.067%	$132K	$76K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0279%	1h	94.530	−0.049%	$4K	$772K	10x	as long as short
Phoenix CRCL	+0.0288%	1h	94.530	−0.049%	$28K	$92K	10x	as long as short
Bitget CRCLUSDT	+0.0296%	8h	94.570	−0.006%	$16.9M	$35.5M	25x	as long as short
Lighter CRCLlong	+0.0320%	1h	94.576	long leg	$3.1M	$2.2M	10x
BloFin CRCL-USDT	+0.0369%	8h	94.530	−0.049%	$1.1M	$599K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	95.560	+1.040%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0477%	4h	94.619	+0.045%	$24K	$269K	10x	as long as short
Arcus CRCL-USD	+0.0533%	1h	94.550	−0.027%	$97K	$276K	10x	as long as short
RISEx CRCL/USDC	+0.0534%	1h	94.565	−0.012%	$431K	$303K	10x	as long as short