Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.071%

Price spread now: BloFin against Polymarket Perps+0.061%7-day average +0.019% · 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−$27as in the Price arb table

costs, in and out, $10k−$310.309% 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+0.426%+$43 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now +0.061%, 7d avg +0.019%

Together, before fees+0.395%+$40 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and BloFin is 0.042% dearer against Polymarket Perps than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps CRCL-USD	91.604	0.0198	pay 0.0025% / 1h	48m 54s	$380K	$1.3M	10x
Short	BloFin CRCL-USDT	91.660	0.0286	get 0.0286% / 8h	48m 54s	$1.1M	$1.7M	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 +0.061%Rate

Funding earned: $18.4
Price spread: +0.061% → +0.019%: $4.22
Slippage, 4 orders: −$10.95
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$8.33
Costs to cover: 0.309%
Break-even: 10.2 days

Slippage from Polymarket Perps: live order book, 4 min ago; BloFin: live order book, 4 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	2.35 bp	6.4 bp −$6	6.8 bp −$68	9.2 bp −$924	doesn't fit
Sell BloFin live order book, 4 min ago	0.55 bp	9.9 bp −$10	14.2 bp −$142	31.6 bp −$3,163	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	−0.0340%	8h	91.740	+0.148%	$17.6M	$37.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0080%	1h	91.330	−0.299%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.730	+0.138%	$7.8M	$27.3M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.630	+0.028%	$1.0M	$48K	10x	as long as short
Bybit CRCLUSDT	+0.0018%	8h	91.700	+0.105%	$14.8M	$26.6M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.668	+0.070%	$980K	$2.6M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.510	−0.103%	$97K	$293K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	91.511	−0.102%	$2K	$28K	5x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.602	−0.002%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.500	−0.114%	$1.1M	$5.0M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.570	−0.037%	$1.3M	$1.8M	10x	as long as short
Variational Omni CRCL	+0.0072%	8h	91.477	−0.138%	$2.4M	$3.3M	—	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.400	−0.223%	$890K	$415K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.590	−0.015%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.630	+0.028%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.460	−0.157%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.640	+0.039%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.660	+0.061%	$4	—	10x	as long as short
tradeXYZ xyz:CRCL	+0.0142%	1h	91.623	+0.021%	$67.8M	$43.8M	10x	as long as short
Aster CRCLUSDT	+0.0151%	8h	91.689	+0.092%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0166%	8h	91.710	+0.116%	$105.3M	$395.0M	50x	as long as short
Extended CRCL_24_5-USD	+0.0168%	1h	91.685	+0.089%	$1.0M	$5.0M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0177%	8h	91.577	−0.029%	$421	$905	5x	as long as short
Polymarket Perps CRCL-USDlong	+0.0198%	1h	91.604	long leg	$380K	$1.3M	10x
Phoenix CRCL	+0.0227%	1h	91.412	−0.210%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0236%	8h	91.520	−0.092%	$69K	$1.1M	10x	as long as short
Lighter CRCL	+0.0240%	1h	91.664	+0.065%	$2.9M	$2.3M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0250%	8h	91.700	+0.105%	$22.3M	$62.2M	50x	as long as short
BloFin CRCL-USDTshort	+0.0286%	8h	91.660	+0.061%	$1.1M	$1.7M	20x
Nado CRCL-PERP	+0.0409%	1h	91.544	−0.065%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.990	+0.421%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.595	−0.010%	$410K	$270K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0515%	1h	91.620	+0.017%	$5K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0824%	4h	91.524	−0.087%	$52K	$277K	10x	as long as short