Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0014%/8h= −1.5% APRpaid last 24h −0.028%

Price spread now: Aevo against OKX−0.045%50s7-day average — · you buy dearer than you sell

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

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Aevo is 0.045% cheaper against OKX than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CRCL-USDT-SWAP	91.570	0.0118	pay 0.0118% / 8h	2h 44m	$22.2M	$61.9M	50x
Short	Aevo CRCL-PERP	91.529	0.0104	get 0.0013% / 1h	44m 25s	$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 −0.045%Rate

Funding earned: −$2.84
Price spread: −0.045% → 0.000%: −$4.46
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$33.31
Costs to cover: 0.260%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 4 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, 4 min ago	0.55 bp	6.8 bp −$7	11.8 bp −$118	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	−0.0763%	8h	91.600	+0.033%	$16.7M	$36.1M	25x	as long as short
Vest CRCL-USD-PERP	−0.0068%	1h	91.260	−0.339%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.530	−0.044%	$14.7M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.570	0.000%	$7.4M	$27.1M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.509	−0.067%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.540	−0.033%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0022%	8h	91.528	−0.046%	$1.0M	$5.1M	20x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.524	−0.050%	$974K	$2.9M	10x	as long as short
Extended CRCL_24_5-USD	+0.0032%	1h	91.507	−0.069%	$1.1M	$5.6M	10x	as long as short
Binance CRCLUSDT	+0.0034%	8h	91.538	−0.035%	$104.3M	$393.6M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CRCLUSDC	+0.0039%	4h	91.574	+0.004%	$52K	$278K	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.550	−0.022%	$93K	$291K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0042%	1h	91.532	−0.041%	$2K	$26K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.518	−0.057%	$383K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.522	−0.052%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.540	−0.033%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	91.530	−0.044%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	91.400	−0.186%	$911K	$521K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0088%	1h	91.456	−0.124%	$68.2M	$42.9M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0095%	8h	91.493	−0.085%	$421	$905	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.530	−0.044%	$134K	$162K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.520	−0.055%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.550	−0.022%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.530	−0.044%	$913	$2K	10x	as long as short
Aevo CRCL-PERPshort	+0.0104%	1h	91.529	−0.045%	$4	—	10x
GRVT CRCL_USDT_Perp	+0.0110%	8h	91.580	+0.011%	$62K	$1.1M	10x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	91.538	−0.035%	$417K	$295K	10x	as long as short
OKX CRCL-USDT-SWAPlong	+0.0118%	8h	91.570	long leg	$22.2M	$61.9M	50x
BloFin CRCL-USDT	+0.0133%	8h	91.550	−0.022%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0210%	1h	91.603	+0.036%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0288%	1h	91.521	−0.054%	$2.9M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0297%	1h	91.520	−0.055%	$4K	$768K	10x	as long as short
Nado CRCL-PERP	+0.0341%	1h	91.434	−0.148%	$133K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.040	+0.513%	$5K	$19K	30x	as long as short