Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0027%/8h= +3.0% APRpaid last 24h +0.044%

Price spread now: OKX against Polymarket Perps+0.106%7-day average +0.114% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$280.276% 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−0.088%−$9 · spread now +0.106%, 7d avg +0.114%

Together, before fees+0.092%+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.114%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps CRCL-USD	92.032	0.0050	pay 0.0006% / 1h	35m 17s	$356K	$1.1M	10x
Short	OKX CRCL-USDT-SWAP	92.130	0.0077	get 0.0077% / 8h	6h 35m	$21.7M	$60.3M	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 +0.106%Rate

Funding earned: $5.7
Price spread: +0.106% → +0.114%: −$0.77
Slippage, 4 orders: −$9.63
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$22.7
Costs to cover: 0.276%
Break-even: 34.9 days

Slippage from Polymarket Perps: live order book, 3 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, 3 min ago	0.54 bp	7.5 bp −$8	7.6 bp −$76	9.6 bp −$957	doesn't fit
Sell OKX live order book, 3 min ago	0.54 bp	6.5 bp −$7	14.4 bp −$144	130.4 bp −$13.0K	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	−0.0393%	8h	92.160	+0.139%	$16.0M	$35.3M	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.990	−0.046%	$916K	$586K	10x	as long as short
Vest CRCL-USD-PERP	0.0000%	1h	91.830	−0.219%	—	$37K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.110	+0.085%	$15.1M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.070	+0.041%	$421K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.130	+0.106%	$7.2M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.051	+0.020%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.790	−0.263%	$61K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.000	−0.035%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0026%	1h	92.008	−0.026%	$2K	$23K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	92.131	+0.108%	$980K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.950	−0.089%	$93K	$272K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.064	+0.035%	$69.4M	$41.9M	10x	as long as short
Polymarket Perps CRCL-USDlong	+0.0050%	1h	92.032	long leg	$356K	$1.1M	10x
SoDEX CRCL-USD	+0.0050%	1h	92.082	+0.054%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.850	−0.198%	$1.0M	$5.5M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	92.080	+0.052%	$1.3M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0076%	1h	92.100	+0.074%	$4K	$769K	10x	as long as short
OKX CRCL-USDT-SWAPshort	+0.0077%	8h	92.130	+0.106%	$21.7M	$60.3M	50x
Binance CRCLUSDT	+0.0078%	8h	92.093	+0.066%	$105.1M	$392.6M	50x	as long as short
Extended CRCL_24_5-USD	+0.0080%	1h	92.066	+0.037%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0081%	8h	92.078	+0.050%	$1.1M	$4.9M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0083%	8h	92.108	+0.083%	$755	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	92.094	+0.068%	$129K	$154K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.090	+0.063%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.890	−0.154%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.050	+0.020%	$918	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.094	+0.068%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0172%	1h	92.023	−0.009%	$131K	$103K	3x	as long as short
Lighter CRCL	+0.0208%	1h	92.153	+0.131%	$3.0M	$2.4M	10x	as long as short
BloFin CRCL-USDT	+0.0222%	8h	92.330	+0.324%	$1.1M	$1.1M	20x	as long as short
Phoenix CRCL	+0.0231%	1h	91.730	−0.328%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.370	+0.367%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0565%	4h	91.735	−0.323%	$23K	$267K	10x	as long as short