Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0205%/8h= +22.4% APRpaid last 24h +0.073%

Price spread now: BloFin against Polymarket Perps−0.101%7-day average +0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs+$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$390.388% of the position

Long on Polymarket Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.425%+$43 on $10k

Price spread, last 3 days (all we have)+0.117%+$12 · spread now −0.101%, 7d avg +0.032%

Together, before fees+0.542%+$54 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.133% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.101% now, against its 7-day average of +0.032%). If the spread goes back, that is −$13 on $10k: about 2.2 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps CRCL-USD	93.264	0.0050	pay 0.0006% / 1h	56m 37s	$361K	$1.1M	10x
Short	BloFin CRCL-USDT	93.170	0.0255	get 0.0255% / 8h	6h 56m	$1.1M	$1.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.101%Rate

Funding earned: $42.97
Price spread: −0.101% → +0.032%: −$13.3
Slippage, 4 orders: −$18.76
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$9.1
Costs to cover: 0.388%
Break-even: 8.5 days

Slippage from Polymarket Perps: live order book, 1 min ago; BloFin: live order book, 6 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, 1 min ago	0.96 bp	7.3 bp −$7	7.6 bp −$76	10.1 bp −$1,009	doesn't fit
Sell BloFin live order book, 6 min ago	5.34 bp	12.8 bp −$13	23.4 bp −$234	55.3 bp −$5,532	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
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	93.200	−0.069%	$932K	$589K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	93.000	−0.283%	$15.2M	$25.5M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.986	−0.298%	$425K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.980	−0.305%	$7.2M	$25.5M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	93.100	−0.176%	$16.6M	$34.6M	25x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	93.497	+0.250%	$62K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	93.240	−0.026%	$1.0M	$49K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	93.095	−0.181%	$977K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	93.564	+0.322%	$2K	$22K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	93.370	+0.114%	$95K	$271K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest CRCL-USD-PERP	+0.0044%	1h	93.140	−0.133%	—	$37K	25x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	93.016	−0.266%	$70.7M	$41.3M	10x	as long as short
Polymarket Perps CRCL-USDlong	+0.0050%	1h	93.264	long leg	$361K	$1.1M	10x
SoDEX CRCL-USD	+0.0050%	1h	93.160	−0.112%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.910	−0.380%	$1.0M	$5.6M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	92.910	−0.380%	$1.3M	$2.4M	10x	as long as short
Variational Omni CRCL	+0.0059%	8h	93.569	+0.327%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0096%	8h	93.047	−0.232%	$763	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	93.141	−0.132%	$75K	$96K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	93.170	−0.101%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	93.450	+0.199%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	93.190	−0.079%	$929	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	93.129	−0.145%	$4	—	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0115%	8h	92.900	−0.390%	$22.5M	$58.4M	50x	as long as short
Aster CRCLUSDT	+0.0130%	8h	93.153	−0.119%	$1.1M	$4.9M	20x	as long as short
Binance CRCLUSDT	+0.0133%	8h	93.056	−0.223%	$107.4M	$386.9M	50x	as long as short
Extended CRCL_24_5-USD	+0.0136%	1h	92.981	−0.303%	$1.1M	$5.7M	10x	as long as short
Nado CRCL-PERP	+0.0239%	1h	93.273	+0.009%	$154K	$89K	3x	as long as short
BloFin CRCL-USDTshort	+0.0255%	8h	93.170	−0.101%	$1.1M	$1.0M	20x
Deribit CRCL_USDC-PERPETUAL	+0.0287%	1h	93.100	−0.176%	$4K	$769K	10x	as long as short
Phoenix CRCL	+0.0296%	1h	93.327	+0.068%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0328%	1h	93.106	−0.169%	$3.0M	$2.3M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	93.910	+0.693%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0813%	4h	93.468	+0.219%	$24K	$266K	10x	as long as short