Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h −0.003%

Price spread now: Aevo against Bybit−0.001%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Aevo

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CRCLUSDT	92.050	0	get 0.0000% / 8h	5h 12m	$15.2M	$25.9M	50x
Short	Aevo CRCL-PERP	92.049	0.0104	get 0.0013% / 1h	12m 50s	$4	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Bybit. 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 BybitbpFee AevobpOrdersPrice spread, now −0.001%Rate

Funding earned: $21.84
Price spread: −0.001% → 0.000%: −$0.08
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$5.24
Costs to cover: 0.270%
Break-even: 8.7 days

Slippage unknown: Bybit: live order book, 1 min ago; Aevo: 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 Bybit live order book, 1 min ago	1.09 bp	10.2 bp −$10	20.4 bp −$204	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

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	−0.1144%	8h	92.080	+0.033%	$16.0M	$34.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0077%	1h	91.880	−0.185%	—	$31K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	92.090	+0.043%	$909K	$501K	10x	as long as short
Bybit CRCLUSDTlong	0.0000%	8h	92.050	long leg	$15.2M	$25.9M	50x
RISEx CRCL/USDC	0.0000%	1h	92.103	+0.057%	$420K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.100	+0.054%	$7.1M	$26.8M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.177	+0.138%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	92.175	+0.136%	$65K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.110	+0.065%	$1.0M	$49K	10x	as long as short
Binance CRCLUSDT	+0.0004%	8h	92.050	0.000%	$105.2M	$386.1M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CRCL_24_5-USD	+0.0008%	1h	92.017	−0.036%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0012%	8h	92.008	−0.045%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0014%	8h	92.090	+0.043%	$21.6M	$59.7M	50x	as long as short
BloFin CRCL-USDT	+0.0017%	8h	92.020	−0.033%	$1.1M	$1.3M	20x	as long as short
Aftermath Perps CRCLUSD	+0.0023%	1h	92.017	−0.036%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	92.050	0.000%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.051	+0.001%	$977K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.040	−0.011%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.025	−0.027%	$68.6M	$41.4M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.071	+0.023%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.032	−0.020%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.040	−0.011%	$1.0M	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0087%	8h	92.104	+0.058%	$755	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	92.097	+0.051%	$133K	$156K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.050	0.000%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.030	−0.022%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.040	−0.011%	$918	$2K	10x	as long as short
Aevo CRCL-PERPshort	+0.0104%	1h	92.049	−0.001%	$4	—	10x
Phoenix CRCL	+0.0183%	1h	92.192	+0.154%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0224%	1h	92.013	−0.040%	$131K	$104K	3x	as long as short
Lighter CRCL	+0.0240%	1h	92.073	+0.025%	$3.0M	$2.4M	10x	as long as short
edgeX CRCLUSDC	+0.0305%	4h	92.149	+0.108%	$23K	$249K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.530	+0.521%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0511%	1h	92.040	−0.011%	$4K	$767K	10x	as long as short