Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Orderly against Aevo−0.018%7-day average — · you buy dearer than you sell

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

Long on Aevo Short on Orderly

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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo CRCL-PERP	94.327	0.0104	pay 0.0013% / 1h	18m 03s	$4	—	10x
Short	Orderly PERP_CRCL_USDC_mythos	94.310	0.0100	get 0.0100% / 8h	1h 18m	$940	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.018%Rate

Funding earned: −$0.84
Price spread: −0.018% → 0.000%: −$1.79
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$24.63
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

Aevo and Orderly: 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
Gate CRCL_USDT	0.0000%	8h	94.330	+0.003%	$7.2M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.310	−0.018%	$1.0M	$50K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.335	+0.009%	$889K	$2.9M	10x	as long as short
QFEX CRCL-USD	+0.0033%	1h	94.310	−0.018%	$1.4M	$2.7M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.230	−0.103%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0048%	1h	94.334	+0.008%	$2K	$20K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.260	−0.071%	$365K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.306	−0.022%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.260	−0.071%	$1.1M	$5.9M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0080%	1h	94.100	−0.241%	$936K	$740K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CRCLUSDT	+0.0083%	8h	94.350	+0.025%	$15.5M	$25.9M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	94.300	−0.028%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.350	+0.025%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.240	−0.092%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythosshort	+0.0100%	8h	94.310	−0.018%	$940	$3K	10x
Aevo CRCL-PERPlong	+0.0104%	1h	94.327	long leg	$4	—	10x
Variational Omni CRCL	+0.0132%	8h	94.333	+0.007%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0146%	8h	94.324	−0.003%	$773	$740	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0146%	8h	94.367	+0.042%	$59K	$1.2M	10x	as long as short
RISEx CRCL/USDC	+0.0159%	1h	94.315	−0.013%	$430K	$310K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0174%	1h	94.288	−0.041%	$70.7M	$42.8M	10x	as long as short
Extended CRCL_24_5-USD	+0.0184%	1h	94.302	−0.027%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0186%	8h	94.300	−0.028%	$108.4M	$388.3M	50x	as long as short
edgeX CRCLUSDC	+0.0193%	4h	94.358	+0.032%	$24K	$267K	10x	as long as short
Aster CRCLUSDT	+0.0205%	8h	94.330	+0.003%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0209%	8h	94.310	−0.018%	$22.8M	$60.4M	50x	as long as short
Phoenix CRCL	+0.0212%	1h	94.411	+0.089%	$28K	$92K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	94.260	−0.071%	$97K	$275K	10x	as long as short
Nado CRCL-PERP	+0.0259%	1h	94.228	−0.104%	$126K	$73K	3x	as long as short
Lighter CRCL	+0.0288%	1h	94.340	+0.014%	$3.0M	$2.3M	10x	as long as short
BloFin CRCL-USDT	+0.0306%	8h	94.380	+0.056%	$1.1M	$580K	20x	as long as short
Bitget CRCLUSDT	+0.0320%	8h	94.330	+0.003%	$16.6M	$35.1M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.760	+0.459%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0917%	1h	94.350	+0.025%	$4K	$772K	10x	as long as short