Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.012%

Price spread now: tradeXYZ against Polymarket Perps+0.030%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$340.341% of the position

Long on Polymarket Perps Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.104%+$10 on $10k

Price spread, last 7 days−0.012%−$1 · spread now +0.030%, 7d avg +0.041%

Together, before fees+0.092%+ Points / potential airdroptradeXYZ: Active · farm board+$9 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps CRCL-USD	91.840	0.0050	pay 0.0006% / 1h	36m 45s	$358K	$1.1M	10x
Short	tradeXYZ xyz:CRCL	91.868	0.0050	get 0.0006% / 1h	36m 45s	$68.2M	$41.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.030%Rate

Funding earned: $0
Price spread: +0.030% → +0.041%: −$1.09
Slippage, 4 orders: −$8.1
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$35.19
Costs to cover: 0.341%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 1 min ago; tradeXYZ: 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, 1 min ago	1.58 bp	5.6 bp −$6	5.7 bp −$57	9.2 bp −$924	doesn't fit
Sell tradeXYZ live order book, 3 min ago	1.14 bp	10.5 bp −$10	doesn't fit	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	−0.0709%	8h	92.000	+0.174%	$16.8M	$35.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0066%	1h	91.640	−0.218%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.960	+0.131%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.020	+0.196%	$7.3M	$27.3M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.849	+0.010%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.950	+0.120%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0012%	8h	91.979	+0.151%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0016%	1h	91.924	+0.091%	$1.2M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0020%	8h	91.950	+0.120%	$104.6M	$391.4M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.933	+0.102%	$2K	$25K	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	+0.0040%	1h	91.959	+0.130%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.870	+0.033%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.890	+0.054%	$907K	$510K	10x	as long as short
tradeXYZ xyz:CRCLshort	+0.0050%	1h	91.868	+0.030%	$68.2M	$41.7M	10x
Polymarket Perps CRCL-USDlong	+0.0050%	1h	91.840	long leg	$358K	$1.1M	10x
SoDEX CRCL-USD	+0.0050%	1h	91.922	+0.089%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.770	−0.076%	$1.0M	$5.2M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.910	+0.076%	$1.3M	$1.9M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0074%	8h	91.870	+0.033%	$70K	$1.1M	10x	as long as short
BloFin CRCL-USDT	+0.0075%	8h	91.920	+0.087%	$1.1M	$1.6M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0084%	8h	91.970	+0.142%	$22.3M	$61.6M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.940	+0.108%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.910	+0.076%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.770	−0.076%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.930	+0.098%	$917	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.965	+0.136%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.950	+0.120%	$418K	$299K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0135%	8h	91.939	+0.107%	$423	$905	5x	as long as short
Phoenix CRCL	+0.0182%	1h	91.828	−0.013%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0312%	1h	91.968	+0.139%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0375%	1h	91.826	−0.016%	$134K	$106K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.390	+0.599%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0839%	1h	91.960	+0.131%	$4K	$768K	10x	as long as short
edgeX CRCLUSDC	+0.0938%	4h	91.865	+0.028%	$51K	$276K	10x	as long as short