Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.034%

Price spread now: Gate against Polymarket Perps+0.001%7-day average +0.138% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$440.440% of the position

Long on Polymarket Perps Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.183%+$18 on $10k

Price spread, last 7 days+0.118%+$12 · spread now +0.001%, 7d avg +0.138%

Together, before fees+0.301%+$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Gate is 0.137% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.138%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.183%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps CRCL-USD	91.619	0.0050	pay 0.0006% / 1h	38m 33s	$358K	$1.1M	10x
Short	Gate CRCL_USDT	91.620	0	get 0.0000% / 8h	4h 38m	$7.2M	$27.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.001%Rate

Funding earned: −$10.5
Price spread: +0.001% → +0.138%: −$13.72
Slippage, 4 orders: −$21.04
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$68.25
Costs to cover: 0.440%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 5 min ago; Gate: 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, 5 min ago	1.96 bp	6.2 bp −$6	7.0 bp −$70	9.2 bp −$921	doesn't fit
Sell Gate live order book, 5 min ago	2.72 bp	15.2 bp −$15	28.2 bp −$282	doesn't fit	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	−0.0988%	8h	91.710	+0.099%	$16.2M	$35.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.380	−0.261%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.572	−0.052%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.538	−0.089%	$1.1M	$5.6M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.638	+0.021%	$104.5M	$388.4M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.640	+0.023%	$14.9M	$26.3M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.580	−0.042%	$416K	$299K	10x	as long as short
Gate CRCL_USDTshort	0.0000%	8h	91.620	+0.001%	$7.2M	$27.0M	50x
Variational Omni CRCL	0.0000%	8h	91.678	+0.064%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.698	+0.086%	$65K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.600	−0.021%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0014%	8h	91.670	+0.056%	$21.9M	$60.6M	50x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.600	−0.021%	$904K	$489K	10x	as long as short
edgeX CRCLUSDC	+0.0023%	4h	91.866	+0.270%	$51K	$275K	10x	as long as short
QFEX CRCL-USD	+0.0028%	1h	91.580	−0.043%	$1.3M	$2.0M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0029%	1h	91.695	+0.083%	$2K	$24K	5x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.590	−0.032%	$972K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.930	+0.339%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.512	−0.117%	$68.2M	$41.6M	10x	as long as short
Polymarket Perps CRCL-USDlong	+0.0050%	1h	91.619	long leg	$358K	$1.1M	10x
SoDEX CRCL-USD	+0.0050%	1h	91.530	−0.097%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.700	+0.088%	$992K	$5.1M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0078%	1h	91.510	−0.119%	$4K	$767K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0087%	8h	91.545	−0.081%	$421	$905	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.556	−0.068%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.550	−0.075%	$2.7M	$2.0M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.630	+0.012%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.560	−0.064%	$913	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.525	−0.103%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.630	+0.012%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	91.674	+0.060%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0184%	1h	91.595	−0.026%	$2.9M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0298%	1h	91.583	−0.039%	$130K	$104K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.190	+0.623%	$5K	$19K	30x	as long as short