Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0047%/8h= +5.1% APRpaid last 24h +0.044%

Price spread now: OKX against Polymarket Perps−0.014%47s7-day average +0.117% · you buy dearer than you sell

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$270.265% of the position

Long on Polymarket Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.181%+$18 on $10k

Price spread, last 7 days+0.131%+$13 · spread now −0.014%, 7d avg +0.117%

Together, before fees+0.312%+$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.131% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.014% now, against its 7-day average of +0.117%). If the spread goes back, that is −$13 on $10k: about 9.3 days of funding at the current rate (+$1 a day). The two prices were read 47 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	91.923	0.0050	pay 0.0006% / 1h	5m 42s	$386K	$1.2M	10x
Short	OKX CRCL-USDT-SWAP	91.910	0.0097	get 0.0097% / 8h	3h 05m	$22.3M	$61.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.014%Rate

Funding earned: $9.83
Price spread: −0.014% → +0.117%: −$13.12
Slippage, 4 orders: −$8.53
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$29.82
Costs to cover: 0.265%
Break-even: 28.2 days

Slippage from Polymarket Perps: live order book, 2 min ago; OKX: 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 Polymarket Perps live order book, 2 min ago	0.54 bp	6.4 bp −$6	8.0 bp −$80	9.7 bp −$973	doesn't fit
Sell OKX live order book, 3 min ago	0.55 bp	6.7 bp −$7	12.6 bp −$126	141.6 bp −$14.2K	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	−0.0675%	8h	91.940	+0.018%	$16.6M	$35.8M	25x	as long as short
Vest CRCL-USD-PERP	−0.0062%	1h	91.680	−0.264%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.910	−0.014%	$14.8M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.990	+0.073%	$7.4M	$27.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.949	+0.028%	$2.5M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.890	−0.036%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0014%	8h	91.927	+0.005%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0024%	8h	91.910	−0.014%	$104.7M	$392.7M	50x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	91.857	−0.072%	$1.2M	$5.6M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.931	+0.009%	$974K	$2.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0039%	1h	91.863	−0.066%	$2K	$26K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.850	−0.079%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.770	−0.166%	$914K	$522K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.839	−0.091%	$68.1M	$42.3M	10x	as long as short
Polymarket Perps CRCL-USDlong	+0.0050%	1h	91.923	long leg	$386K	$1.2M	10x
SoDEX CRCL-USD	+0.0050%	1h	91.911	−0.013%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.890	−0.036%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.880	−0.047%	$1.3M	$1.9M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0076%	8h	91.899	−0.027%	$423	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0084%	8h	91.800	−0.134%	$70K	$1.1M	10x	as long as short
BloFin CRCL-USDT	+0.0085%	8h	91.840	−0.090%	$1.1M	$1.6M	20x	as long as short
OKX CRCL-USDT-SWAPshort	+0.0097%	8h	91.910	−0.014%	$22.3M	$61.8M	50x
Pacifica CRCL	+0.0100%	1h	91.900	−0.025%	$136K	$160K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.880	−0.047%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.740	−0.199%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.930	+0.008%	$917	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.932	+0.010%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.890	−0.036%	$418K	$299K	10x	as long as short
Phoenix CRCL	+0.0182%	1h	91.797	−0.137%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0248%	1h	91.907	−0.017%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0347%	1h	91.834	−0.097%	$134K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.475%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0730%	1h	91.930	+0.008%	$4K	$768K	10x	as long as short
edgeX CRCLUSDC	+0.0757%	4h	91.849	−0.080%	$51K	$276K	10x	as long as short