Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0667%/8h= −73.0% APRpaid last 24h −0.023%

Price spread now: Aevo against GRVT−0.106%7-day average — · you buy dearer than you sell

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

Long on GRVT 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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and Aevo is 0.106% cheaper against GRVT than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT CRCL_USDT_Perp	92.761	0.0771	pay 0.0771% / 8h	7h 00m	$70K	$1.1M	10x
Short	Aevo CRCL-PERP	92.663	0.0104	get 0.0013% / 1h	0m 50s	$4	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against GRVT. 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 GRVTbpFee AevobpOrdersPrice spread, now −0.106%Rate

Funding earned: −$140.07
Price spread: −0.106% → 0.000%: −$10.59
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$175.66
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 2 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 GRVT live order book, 2 min ago	7.55 bp	13.5 bp −$13	doesn't fit	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
Vest CRCL-USD-PERP	−0.0074%	1h	92.540	−0.239%	—	$31K	25x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.680	−0.088%	$17.9M	$35.1M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.620	−0.152%	$1.0M	$46K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.667	−0.102%	$994K	$2.5M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	92.580	−0.195%	$891K	$682K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	92.692	−0.074%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.700	−0.066%	$97K	$270K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.550	−0.228%	$67.9M	$42.7M	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.620	−0.152%	$1.1M	$4.3M	10x	as long as short
QFEX CRCL-USD	+0.0065%	1h	92.650	−0.120%	$1.4M	$1.7M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CRCL_USDT	+0.0075%	8h	92.660	−0.109%	$7.3M	$28.1M	50x	as long as short
Polymarket Perps CRCL-USD	+0.0090%	1h	92.739	−0.024%	$381K	$964K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.553	−0.224%	$136K	$140K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.640	−0.131%	$2.7M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.710	−0.055%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.660	−0.109%	$924	$1K	10x	as long as short
Aevo CRCL-PERPshort	+0.0104%	1h	92.663	−0.106%	$4	—	10x
Paradex CRCL-USD-PERP	+0.0169%	8h	92.704	−0.062%	$426	$766	5x	as long as short
Bybit CRCLUSDT	+0.0193%	8h	92.660	−0.109%	$15.1M	$26.1M	50x	as long as short
Lighter CRCL	+0.0208%	1h	92.584	−0.191%	$3.0M	$2.2M	10x	as long as short
Phoenix CRCL	+0.0254%	1h	92.745	−0.018%	$27K	$66K	10x	as long as short
Variational Omni CRCL	+0.0257%	8h	92.578	−0.198%	$2.4M	$3.2M	—	as long as short
Aster CRCLUSDT	+0.0310%	8h	92.655	−0.114%	$1.1M	$5.0M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0311%	8h	92.690	−0.077%	$22.6M	$59.6M	50x	as long as short
Extended CRCL_24_5-USD	+0.0320%	1h	92.573	−0.203%	$1.1M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0323%	8h	92.638	−0.133%	$106.8M	$378.0M	50x	as long as short
Nado CRCL-PERP	+0.0363%	1h	92.650	−0.120%	$149K	$111K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	93.200	+0.473%	$39K	$172K	30x	as long as short
BloFin CRCL-USDT	+0.0443%	8h	92.620	−0.152%	$1.1M	$1.7M	20x	as long as short
RISEx CRCL/USDC	+0.0501%	1h	92.770	+0.009%	$415K	$255K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0506%	1h	92.610	−0.163%	$5K	$628K	10x	as long as short
SoDEX CRCL-USD	+0.0683%	1h	92.620	−0.152%	$46K	$3K	10x	as long as short
GRVT CRCL_USDT_Perplong	+0.0771%	8h	92.761	long leg	$70K	$1.1M	10x
edgeX CRCLUSDC	+0.0825%	4h	92.817	+0.060%	$53K	$269K	10x	as long as short