Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0188%/8h= −20.6% APRpaid last 24h −0.034%

Price spread now: Aevo against OKX+0.027%7-day average — · you sell dearer than you buy

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

Long on OKX 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 pays, funding is against you. Aevo is 0.027% dearer against OKX than usual: you sell high and buy low (spread +0.027% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CRCL-USDT-SWAP	91.040	0.0292	pay 0.0292% / 8h	7h 33m	$22.3M	$61.3M	50x
Short	Aevo CRCL-PERP	91.065	0.0104	get 0.0013% / 1h	33m 04s	$4	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against OKX. 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 OKXbpFee AevobpOrdersPrice spread, now +0.027%Rate

Funding earned: −$39.57
Price spread: +0.027% → 0.000%: $2.71
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$62.85
Costs to cover: 0.260%
Break-even: never at this rate

Slippage unknown: OKX: 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 OKX live order book, 1 min ago	0.55 bp	7.9 bp −$8	14.8 bp −$148	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	−0.0096%	1h	90.850	−0.209%	—	$31K	25x	as long as short
Bitget CRCLUSDT	−0.0066%	8h	91.080	+0.044%	$17.3M	$36.2M	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.050	+0.011%	$15.0M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.090	+0.055%	$7.8M	$26.4M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.060	+0.022%	$1.0M	$47K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.051	+0.012%	$980K	$2.4M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	91.100	+0.066%	$872K	$504K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.103	+0.069%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.000	−0.044%	$94K	$283K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.010	−0.033%	$67.1M	$44.3M	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	90.972	−0.075%	$376K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.050	+0.011%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	90.990	−0.055%	$1.1M	$4.7M	10x	as long as short
QFEX CRCL-USD	+0.0065%	1h	91.080	+0.044%	$1.3M	$1.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.020	−0.022%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.070	+0.033%	$2.6M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.120	+0.088%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.040	0.000%	$908	$1K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0104%	8h	91.175	+0.149%	$71K	$1.1M	10x	as long as short
Aevo CRCL-PERPshort	+0.0104%	1h	91.065	+0.027%	$4	—	10x
Paradex CRCL-USD-PERP	+0.0132%	8h	91.054	+0.016%	$419	$766	5x	as long as short
Variational Omni CRCL	+0.0152%	8h	91.180	+0.154%	$2.4M	$3.3M	—	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0190%	1h	91.050	+0.011%	$5K	$769K	10x	as long as short
Aster CRCLUSDT	+0.0215%	8h	91.075	+0.039%	$1.0M	$5.0M	20x	as long as short
Lighter CRCL	+0.0216%	1h	91.052	+0.013%	$2.9M	$2.1M	10x	as long as short
Binance CRCLUSDT	+0.0230%	8h	91.021	−0.021%	$104.7M	$386.7M	50x	as long as short
Extended CRCL_24_5-USD	+0.0232%	1h	91.001	−0.043%	$1.1M	$5.1M	10x	as long as short
Phoenix CRCL	+0.0254%	1h	91.098	+0.064%	$27K	$66K	10x	as long as short
OKX CRCL-USDT-SWAPlong	+0.0292%	8h	91.040	long leg	$22.3M	$61.3M	50x
BloFin CRCL-USDT	+0.0350%	8h	91.020	−0.022%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0370%	1h	90.969	−0.078%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.170	+1.241%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0501%	1h	91.066	+0.028%	$411K	$257K	10x	as long as short
edgeX CRCLUSDC	+0.0936%	4h	91.171	+0.144%	$52K	$270K	10x	as long as short