Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0094%/8h= +10.3% APRpaid last 24h −0.003%

Price spread now: Aevo against Bybit−0.008%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	91.510	0.0010	pay 0.0010% / 8h	55m 44s	$14.8M	$26.6M	50x
Short	Aevo CRCL-PERP	91.503	0.0104	get 0.0013% / 1h	55m 44s	$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 −0.008%Rate

Funding earned: $19.67
Price spread: −0.008% → 0.000%: −$0.8
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$8.13
Costs to cover: 0.270%
Break-even: 9.9 days

Slippage unknown: Bybit: live order book, 3 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, 3 min ago	1.09 bp	7.7 bp −$8	16.4 bp −$164	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	−0.0349%	8h	91.580	+0.076%	$17.6M	$37.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0080%	1h	91.210	−0.328%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.560	+0.055%	$7.8M	$27.2M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.530	+0.022%	$1.0M	$48K	10x	as long as short
Bybit CRCLUSDTlong	+0.0010%	8h	91.510	long leg	$14.8M	$26.6M	50x
Lighter RH CRCL	+0.0032%	1h	91.540	+0.033%	$978K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.497	−0.015%	$2K	$28K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.510	0.000%	$98K	$293K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.478	−0.035%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.410	−0.109%	$1.1M	$5.0M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni CRCL	+0.0066%	8h	91.488	−0.024%	$2.4M	$3.3M	—	as long as short
QFEX CRCL-USD	+0.0071%	1h	91.510	0.000%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.400	−0.120%	$890K	$420K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.536	+0.028%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.580	+0.076%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.440	−0.076%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.490	−0.022%	$912	$2K	10x	as long as short
Aevo CRCL-PERPshort	+0.0104%	1h	91.503	−0.008%	$4	—	10x
Aster CRCLUSDT	+0.0144%	8h	91.578	+0.075%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0159%	8h	91.500	−0.011%	$105.1M	$395.2M	50x	as long as short
Extended CRCL_24_5-USD	+0.0160%	1h	91.474	−0.039%	$1.0M	$5.0M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0168%	1h	91.449	−0.067%	$67.7M	$44.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0182%	8h	91.473	−0.040%	$421	$905	5x	as long as short
Polymarket Perps CRCL-USD	+0.0201%	1h	91.495	−0.016%	$383K	$1.3M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0226%	8h	91.550	+0.044%	$64K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0243%	8h	91.520	+0.011%	$22.3M	$62.1M	50x	as long as short
Phoenix CRCL	+0.0245%	1h	91.481	−0.032%	$27K	$74K	10x	as long as short
BloFin CRCL-USDT	+0.0278%	8h	91.570	+0.066%	$1.1M	$1.7M	20x	as long as short
Lighter CRCL	+0.0288%	1h	91.525	+0.016%	$2.9M	$2.3M	10x	as long as short
Nado CRCL-PERP	+0.0406%	1h	91.416	−0.103%	$134K	$109K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0406%	1h	91.470	−0.044%	$5K	$769K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.890	+0.415%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.530	+0.022%	$418K	$265K	10x	as long as short
edgeX CRCLUSDC	+0.0477%	4h	91.500	−0.011%	$52K	$278K	10x	as long as short