Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Orderly against Aevo+0.028%7-day average — · you sell dearer than you buy

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.028% dearer against Aevo than usual: you sell high and buy low, +$3 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo CRCL-PERP	95.863	0.0104	pay 0.0013% / 1h	44m 36s	$4	—	10x
Short	Orderly PERP_CRCL_USDC_mythos	95.890	0.0100	get 0.0100% / 8h	4h 44m	$756	$2K	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 +0.028%Rate

Funding earned: −$0.84
Price spread: +0.028% → 0.000%: $2.82
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$20.02
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 exchanges

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
Coinbase International CRCL-PERP-INTX	−0.0024%	1h	95.800	−0.066%	$874K	$807K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	95.770	−0.097%	$16.0M	$29.4M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	95.710	−0.160%	$436K	$232K	10x	as long as short
Bitget CRCLUSDT	0.0000%	8h	95.780	−0.087%	$19.2M	$39.3M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	95.850	−0.014%	$1.1M	$47K	10x	as long as short
QFEX CRCL-USD	+0.0014%	1h	95.660	−0.212%	$1.4M	$1.7M	10x	as long as short
Gate CRCL_USDT	+0.0025%	8h	95.820	−0.045%	$7.8M	$26.8M	50x	as long as short
Injective CRCL/USDC PERP	+0.0033%	1h	95.630	−0.243%	$39K	$172K	30x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	95.569	−0.307%	$2K	$29K	5x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	95.740	−0.128%	—	$29K	25x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	95.620	−0.253%	$1.1M	$4.4M	10x	as long as short
Arcus CRCL-USD	+0.0057%	1h	95.710	−0.160%	$99K	$242K	10x	as long as short
Lighter RH CRCL	+0.0064%	1h	95.709	−0.161%	$1.0M	$2.7M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0100%	1h	95.763	−0.104%	$69.5M	$44.6M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	95.700	−0.170%	$143K	$151K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	95.680	−0.191%	$2.5M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	95.390	−0.493%	$98K	$26K	50x	as long as short
Orderly PERP_CRCL_USDC_mythosshort	+0.0100%	8h	95.890	+0.028%	$756	$2K	10x
Aevo CRCL-PERPlong	+0.0104%	1h	95.863	long leg	$4	—	10x
Phoenix CRCL	+0.0136%	1h	95.400	−0.483%	$29K	$94K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0139%	8h	95.703	−0.166%	$440	$477	5x	as long as short
Variational Omni CRCL	+0.0172%	8h	95.761	−0.107%	$2.7M	$3.4M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0227%	8h	95.790	−0.076%	$23.7M	$68.3M	50x	as long as short
edgeX CRCLUSDC	+0.0236%	4h	95.429	−0.453%	$55K	$279K	10x	as long as short
Extended CRCL_24_5-USD	+0.0280%	1h	95.678	−0.193%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0283%	8h	95.750	−0.118%	$112.2M	$398.7M	50x	as long as short
Aster CRCLUSDT	+0.0299%	8h	95.760	−0.107%	$1.2M	$4.8M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0331%	8h	95.986	+0.128%	$56K	$1.0M	10x	as long as short
BloFin CRCL-USDT	+0.0393%	8h	95.880	+0.018%	$1.1M	$1.8M	20x	as long as short
Nado CRCL-PERP	+0.0415%	1h	95.651	−0.221%	$153K	$93K	3x	as long as short
Polymarket Perps CRCL-USD	+0.0425%	1h	95.742	−0.126%	$304K	$1.4M	10x	as long as short
Lighter CRCL	+0.0480%	1h	95.730	−0.139%	$3.3M	$2.5M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0899%	1h	95.870	+0.007%	$5K	$415K	10x	as long as short
SoDEX CRCL-USD	+0.1689%	1h	95.883	+0.021%	$48K	$3K	10x	as long as short