Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0150%/8h= +16.5% APRpaid last 24h +0.009%

Price spread now: Binance against Polymarket Perps+0.022%46s7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as 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−$260.259% of the position

Long on Polymarket Perps Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.142%+$14 on $10k

Price spread, last 2 days (all we have)+0.034%+$3 · spread now +0.022%, 7d avg +0.034%

Together, before fees+0.176%+$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.034%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate. The two prices were read 46 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	94.686	0.0052	pay 0.0007% / 1h	38m 40s	$367K	$1.1M	10x
Short	Binance CRCLUSDT	94.707	0.0202	get 0.0202% / 8h	38m 40s	$109.5M	$389.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.022%Rate

Funding earned: $31.55
Price spread: +0.022% → +0.034%: −$1.24
Slippage, 4 orders: −$7.94
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: $4.38
Costs to cover: 0.259%
Break-even: 6.0 days

Slippage from Polymarket Perps: live order book, 4 min ago; Binance: 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 Polymarket Perps live order book, 4 min ago	2.16 bp	6.2 bp −$6	6.4 bp −$64	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	0.53 bp	6.2 bp −$6	9.4 bp −$94	26.5 bp −$2,651	147.0 bp −$73.5K

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	94.680	−0.006%	$7.2M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.740	+0.057%	$1.0M	$52K	10x	as long as short
QFEX CRCL-USD	+0.0022%	1h	94.680	−0.006%	$1.4M	$2.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	94.510	−0.186%	$940K	$723K	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.660	−0.027%	—	$45K	25x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.688	+0.002%	$48K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.600	−0.091%	$1.1M	$5.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0052%	1h	94.710	+0.026%	$2K	$21K	5x	as long as short
Polymarket Perps CRCL-USDlong	+0.0052%	1h	94.686	long leg	$367K	$1.1M	10x
Lighter RH CRCL	+0.0056%	1h	94.755	+0.073%	$894K	$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
Pacifica CRCL	+0.0100%	1h	94.670	−0.017%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.710	+0.025%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.610	−0.080%	$70K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.710	+0.025%	$944	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.724	+0.040%	$4	—	10x	as long as short
Bybit CRCLUSDT	+0.0104%	8h	94.690	+0.004%	$15.6M	$25.9M	50x	as long as short
Paradex CRCL-USD-PERP	+0.0132%	8h	94.717	+0.033%	$777	$740	5x	as long as short
Variational Omni CRCL	+0.0139%	8h	94.783	+0.103%	$2.6M	$3.1M	—	as long as short
GRVT CRCL_USDT_Perp	+0.0184%	8h	94.784	+0.103%	$61K	$1.1M	10x	as long as short
Extended CRCL_24_5-USD	+0.0200%	1h	94.664	−0.023%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDTshort	+0.0202%	8h	94.707	+0.022%	$109.5M	$389.7M	50x
OKX CRCL-USDT-SWAP	+0.0205%	8h	94.710	+0.025%	$22.9M	$60.7M	50x	as long as short
Aster CRCLUSDT	+0.0212%	8h	94.731	+0.047%	$1.1M	$4.9M	20x	as long as short
tradeXYZ xyz:CRCL	+0.0236%	1h	94.677	−0.010%	$71.1M	$42.9M	10x	as long as short
Phoenix CRCL	+0.0288%	1h	94.749	+0.067%	$28K	$92K	10x	as long as short
Nado CRCL-PERP	+0.0307%	1h	94.662	−0.026%	$127K	$73K	3x	as long as short
Bitget CRCLUSDT	+0.0314%	8h	94.680	−0.006%	$16.9M	$35.4M	25x	as long as short
BloFin CRCL-USDT	+0.0322%	8h	94.710	+0.025%	$1.1M	$594K	20x	as long as short
Lighter CRCL	+0.0416%	1h	94.750	+0.068%	$3.1M	$2.2M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	95.560	+0.923%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0533%	1h	94.700	+0.015%	$97K	$275K	10x	as long as short
RISEx CRCL/USDC	+0.0534%	1h	94.741	+0.058%	$432K	$312K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0595%	1h	94.730	+0.046%	$4K	$772K	10x	as long as short
edgeX CRCLUSDC	+0.0967%	4h	94.751	+0.069%	$24K	$267K	10x	as long as short