Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Aevo against Orderly−0.015%7-day average — · you buy dearer than you sell

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

Long on Orderly 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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_CRCL_USDC_mythos	91.820	0.0100	pay 0.0100% / 8h	1h 04m	$915	$2K	10x
Short	Aevo CRCL-PERP	91.807	0.0104	get 0.0013% / 1h	4m 51s	$4	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Orderly. 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 OrderlybpFee AevobpOrdersPrice spread, now −0.015%Rate

Funding earned: $0.84
Price spread: −0.015% → 0.000%: −$1.46
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$22.62
Costs to cover: 0.220%
Break-even: 195.5 days

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

Orderly and 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	−0.0378%	8h	91.830	+0.011%	$17.7M	$37.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0080%	1h	91.580	−0.261%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.770	−0.054%	$14.7M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.780	−0.044%	$7.8M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.830	+0.011%	$1.0M	$48K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	91.782	−0.042%	$2K	$28K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.790	−0.033%	$95K	$292K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.788	−0.035%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.730	−0.098%	$1.1M	$5.3M	10x	as long as short
Variational Omni CRCL	+0.0051%	8h	91.859	+0.042%	$2.4M	$3.2M	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0056%	1h	91.828	+0.009%	$981K	$2.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0056%	1h	91.790	−0.033%	$894K	$441K	10x	as long as short
QFEX CRCL-USD	+0.0068%	1h	91.800	−0.022%	$1.3M	$1.8M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.780	−0.044%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.820	0.000%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.700	−0.131%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythoslong	+0.0100%	8h	91.820	long leg	$915	$2K	10x
Aevo CRCL-PERPshort	+0.0104%	1h	91.807	−0.015%	$4	—	10x
tradeXYZ xyz:CRCL	+0.0112%	1h	91.701	−0.130%	$67.9M	$44.2M	10x	as long as short
Aster CRCLUSDT	+0.0132%	8h	91.784	−0.040%	$1.0M	$5.1M	20x	as long as short
Extended CRCL_24_5-USD	+0.0144%	1h	91.744	−0.083%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0146%	8h	91.770	−0.054%	$105.0M	$397.2M	50x	as long as short
Polymarket Perps CRCL-USD	+0.0150%	1h	91.803	−0.019%	$384K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0193%	8h	91.821	+0.001%	$422	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0215%	8h	91.823	+0.003%	$64K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0231%	8h	91.780	−0.044%	$22.3M	$62.4M	50x	as long as short
Phoenix CRCL	+0.0245%	1h	91.776	−0.048%	$27K	$82K	10x	as long as short
BloFin CRCL-USDT	+0.0266%	8h	91.830	+0.011%	$1.1M	$1.7M	20x	as long as short
RISEx CRCL/USDC	+0.0271%	1h	91.820	0.000%	$418K	$266K	10x	as long as short
Lighter CRCL	+0.0312%	1h	91.749	−0.077%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0430%	1h	91.736	−0.091%	$134K	$109K	3x	as long as short
edgeX CRCLUSDC	+0.0435%	4h	91.758	−0.068%	$52K	$277K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.270	+0.490%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0840%	1h	91.820	0.000%	$5K	$769K	10x	as long as short