Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.031%

Price spread now: Gate against Aevo+0.038%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Aevo Short on Gate

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Gate is 0.038% dearer against Aevo than usual: you sell high and buy low (spread +0.038% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo CRCL-PERP	91.365	0.0104	pay 0.0013% / 1h	52m 47s	$4	—	10x
Short	Gate CRCL_USDT	91.400	0	get 0.0000% / 8h	7h 52m	$7.8M	$26.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Aevo. 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 AevobpFee GatebpOrdersPrice spread, now +0.038%Rate

Funding earned: −$21.84
Price spread: +0.038% → 0.000%: $3.82
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$49.02
Costs to cover: 0.310%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Gate: live order book, 1 min ago. Net counts fees only.

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 Aevo no order-book sample	—	—	—	—	—
Sell Gate live order book, 1 min ago	2.73 bp	12.8 bp −$13	23.2 bp −$232	doesn't fit	doesn't fit

Aevo: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0267%	8h	91.400	+0.038%	$17.4M	$36.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0088%	1h	91.050	−0.345%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.360	−0.006%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDTshort	0.0000%	8h	91.400	+0.038%	$7.8M	$26.2M	50x
Phemex CRCLUSDT	0.0000%	4h	91.340	−0.027%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.369	+0.004%	$984K	$2.4M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	91.200	−0.181%	$873K	$502K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	91.323	−0.046%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.280	−0.093%	$95K	$294K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.250	−0.126%	$67.3M	$44.2M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps CRCL-USD	+0.0050%	1h	91.265	−0.110%	$377K	$1.3M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.310	−0.060%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.430	+0.071%	$1.1M	$4.8M	10x	as long as short
QFEX CRCL-USD	+0.0065%	1h	91.260	−0.115%	$1.3M	$1.7M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0073%	8h	91.347	−0.019%	$70K	$1.1M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.290	−0.082%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.330	−0.038%	$2.6M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.260	−0.115%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.340	−0.027%	$911	$1K	10x	as long as short
Aevo CRCL-PERPlong	+0.0104%	1h	91.365	long leg	$4	—	10x
edgeX CRCLUSDC	+0.0126%	4h	91.321	−0.048%	$52K	$269K	10x	as long as short
Variational Omni CRCL	+0.0147%	8h	91.470	+0.115%	$2.4M	$3.3M	—	as long as short
Paradex CRCL-USD-PERP	+0.0147%	8h	91.287	−0.086%	$420	$905	5x	as long as short
Lighter CRCL	+0.0160%	1h	91.373	+0.009%	$2.9M	$2.1M	10x	as long as short
Aster CRCLUSDT	+0.0166%	8h	91.300	−0.071%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0222%	8h	91.360	−0.006%	$105.0M	$388.7M	50x	as long as short
Extended CRCL_24_5-USD	+0.0224%	1h	91.357	−0.009%	$1.1M	$5.1M	10x	as long as short
Nado CRCL-PERP	+0.0247%	1h	91.231	−0.147%	$134K	$109K	3x	as long as short
Phoenix CRCL	+0.0254%	1h	91.239	−0.138%	$27K	$66K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0292%	8h	91.370	+0.005%	$22.3M	$61.7M	50x	as long as short
BloFin CRCL-USDT	+0.0342%	8h	91.420	+0.060%	$1.1M	$1.7M	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.810	+0.487%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0501%	1h	91.333	−0.035%	$412K	$259K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0627%	1h	91.350	−0.017%	$5K	$769K	10x	as long as short