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"Radial clearance is the clearance measured perpendicular to the bearing axis or more specifically: average outer ring raceway diameter minus average inner ring raceway diameter minus (2 x ball diameter).
Axial clearance is the clearance measured along the bearing axis is known as axial play. "
Radial clearance (or internal radial play) is an important consideration when choosing a bearing. The radial clearance in the bearing before it is fitted can be called the "initial" radial clearnace. "Residual" or "operational" radial clearance is what is left when the bearing has been fitted.There should normally be a slight residual radial clearance in the bearing to minimize ball skidding and reduce axial clearance (end play). Correct selection of the initial radial clearance can avoid faster bearing wear and reduce unwanted play.