CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0018%/8h= −2.0% APRnext payment −$0.02 per $10,000 · paid last 24h −0.008%

Price spread now: Lighter RH against Polymarket Perps+0.078%7-day average +0.104% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$180.179% of the position

Long on Polymarket Perps Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 7 days−0.104%−$10 · spread now +0.078%, 7d avg +0.104%

Together, before fees−0.082%+ Points / potential airdropLighter RH: Points live · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Lighter RH is 0.026% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.104%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps CRCL-USD	94.532	0.0050	pay 0.0006% / 1h	13m 26s	$366K	$1.1M	10x
Short	Lighter RH CRCL	94.606	0.0032	get 0.0004% / 1h	13m 26s	$894K	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.078%Rate

Funding earned: −$3.78
Price spread: +0.078% → +0.104%: −$2.58
Slippage, 4 orders: −$9.88
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$24.24
Costs to cover: 0.179%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 5 min ago; Lighter RH: 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	0.05 bp	7.2 bp −$7	7.4 bp −$74	9.2 bp −$919	doesn't fit
Sell Lighter RH live order book, 5 min ago	2.90 bp	3.0 bp −$3	5.3 bp −$53	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
Gate CRCL_USDT	0.0000%	8h	94.600	+0.072%	$7.2M	$27.8M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.610	+0.083%	$1.0M	$52K	10x	as long as short
QFEX CRCL-USD	+0.0022%	1h	94.530	−0.002%	$1.4M	$2.7M	10x	as long as short
Lighter RH CRCLshort	+0.0032%	1h	94.606	+0.078%	$894K	$2.9M	10x
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	94.510	−0.023%	$940K	$723K	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.520	−0.013%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USDlong	+0.0050%	1h	94.532	long leg	$366K	$1.1M	10x
SoDEX CRCL-USD	+0.0050%	1h	94.567	+0.037%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.470	−0.066%	$1.1M	$5.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0051%	1h	94.598	+0.069%	$2K	$21K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CRCLUSDT	+0.0097%	8h	94.580	+0.051%	$15.5M	$25.9M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	94.540	+0.008%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.600	+0.072%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.570	+0.040%	$70K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.560	+0.030%	$943	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.611	+0.083%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0114%	8h	94.553	+0.022%	$775	$740	5x	as long as short
tradeXYZ xyz:CRCL	+0.0143%	1h	94.498	−0.036%	$71.6M	$43.6M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0188%	8h	94.560	+0.030%	$22.8M	$60.8M	50x	as long as short
Variational Omni CRCL	+0.0193%	8h	94.671	+0.147%	$2.5M	$3.1M	—	as long as short
Extended CRCL_24_5-USD	+0.0248%	1h	94.533	+0.001%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0249%	8h	94.550	+0.019%	$109.4M	$390.8M	50x	as long as short
Aster CRCLUSDT	+0.0251%	8h	94.580	+0.051%	$1.1M	$4.9M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0251%	8h	94.670	+0.146%	$54K	$1.1M	10x	as long as short
Nado CRCL-PERP	+0.0262%	1h	94.513	−0.020%	$132K	$76K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0279%	1h	94.590	+0.061%	$4K	$772K	10x	as long as short
Phoenix CRCL	+0.0288%	1h	94.530	−0.002%	$28K	$92K	10x	as long as short
Bitget CRCLUSDT	+0.0296%	8h	94.570	+0.040%	$16.9M	$35.5M	25x	as long as short
Lighter CRCL	+0.0328%	1h	94.625	+0.098%	$3.1M	$2.2M	10x	as long as short
BloFin CRCL-USDT	+0.0372%	8h	94.670	+0.146%	$1.1M	$600K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	95.560	+1.087%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0477%	4h	94.619	+0.092%	$24K	$269K	10x	as long as short
Arcus CRCL-USD	+0.0533%	1h	94.550	+0.019%	$97K	$276K	10x	as long as short
RISEx CRCL/USDC	+0.0534%	1h	94.565	+0.035%	$431K	$303K	10x	as long as short