diff --git a/example/CMakeLists.txt b/example/CMakeLists.txt
index a767db1e1..2c9d96f3e 100644
--- a/example/CMakeLists.txt
+++ b/example/CMakeLists.txt
@@ -25,6 +25,7 @@ add_subdirectory(when-any-cancellation)
 if(BOOST_CAPY_BUILD_P2300_EXAMPLES)
     add_subdirectory(sender-bridge)
     add_subdirectory(awaitable-sender)
+    add_subdirectory(any-sender-size)
 endif()
 
 if(BOOST_CAPY_BUILD_CUDA_EXAMPLES)
diff --git a/example/README.md b/example/README.md
index 5db843c0f..7b26155e5 100644
--- a/example/README.md
+++ b/example/README.md
@@ -40,6 +40,12 @@ A complete echo server using Corosio for real network I/O. Requires Corosio.
 
 Data transformation through a pipeline of sources and sinks.
 
+### any-sender-size/
+
+Measures the `exec::any_sender` operation state and the heap allocation its
+`connect` performs, against the concrete operation state for the same
+pipeline. Requires stdexec (`BOOST_CAPY_BUILD_P2300_EXAMPLES=ON`).
+
 ## Building
 
 ### CMake
diff --git a/example/any-sender-size/CMakeLists.txt b/example/any-sender-size/CMakeLists.txt
new file mode 100644
index 000000000..e27ebec25
--- /dev/null
+++ b/example/any-sender-size/CMakeLists.txt
@@ -0,0 +1,29 @@
+#
+# Copyright (c) 2026 Steve Gerbino
+#
+# Distributed under the Boost Software License, Version 1.0. (See accompanying
+# file LICENSE_1_0.txt or copy at http://www.boost.org/LICENSE_1_0.txt)
+#
+# Official repository: https://github.com/cppalliance/capy
+#
+
+include(FetchContent)
+
+FetchContent_Declare(
+    stdexec
+    GIT_REPOSITORY https://github.com/NVIDIA/stdexec
+    GIT_TAG 307b83c5689ea7c2e5b31561cdc428697705333e
+    SYSTEM
+    FIND_PACKAGE_ARGS
+        NAMES stdexec
+)
+FetchContent_MakeAvailable(stdexec)
+
+add_executable(capy_example_any_sender_size any_sender_size.cpp)
+
+set_property(TARGET capy_example_any_sender_size PROPERTY FOLDER "examples")
+target_compile_features(capy_example_any_sender_size PRIVATE cxx_std_23)
+target_link_libraries(capy_example_any_sender_size STDEXEC::stdexec)
+
+add_test(NAME capy_example_any_sender_size
+    COMMAND capy_example_any_sender_size)
diff --git a/example/any-sender-size/any_sender_size.cpp b/example/any-sender-size/any_sender_size.cpp
new file mode 100644
index 000000000..cc0ec2bd7
--- /dev/null
+++ b/example/any-sender-size/any_sender_size.cpp
@@ -0,0 +1,102 @@
+//
+// Copyright (c) 2026 Steve Gerbino
+//
+// Distributed under the Boost Software License, Version 1.0. (See accompanying
+// file LICENSE_1_0.txt or copy at http://www.boost.org/LICENSE_1_0.txt)
+//
+// Official repository: https://github.com/cppalliance/capy
+//
+
+// Measures the operation state produced by connecting a small sender
+// pipeline through exec::any_sender / exec::any_receiver, against the
+// concrete (non-erased) operation state for the same pipeline. Reports
+// sizeof of each and the heap allocations made by connect and start,
+// counted through the replaceable operator new.
+
+#include <exec/any_sender_of.hpp>
+#include <exec/static_thread_pool.hpp>
+#include <stdexec/execution.hpp>
+
+#include <atomic>
+#include <cstddef>
+#include <cstdio>
+#include <cstdlib>
+#include <new>
+
+namespace ex = stdexec;
+
+static std::size_t g_alloc_count = 0;
+static std::size_t g_alloc_bytes = 0;
+
+void* operator new(std::size_t n)
+{
+    ++g_alloc_count;
+    g_alloc_bytes += n;
+    if (void* p = std::malloc(n))
+        return p;
+    throw std::bad_alloc();
+}
+
+void operator delete(void* p) noexcept { std::free(p); }
+void operator delete(void* p, std::size_t) noexcept { std::free(p); }
+
+struct receiver
+{
+    using receiver_concept = ex::receiver_t;
+    std::atomic<bool>* done;
+    void finish() noexcept { done->store(true); done->notify_one(); }
+    void set_value(int) noexcept { finish(); }
+    void set_error(std::exception_ptr) noexcept { finish(); }
+    void set_stopped() noexcept { finish(); }
+    ex::env<> get_env() const noexcept { return {}; }
+};
+
+using any_sender = exec::any_sender<
+    exec::any_receiver<ex::completion_signatures<
+        ex::set_value_t(int),
+        ex::set_error_t(std::exception_ptr),
+        ex::set_stopped_t()>>>;
+
+template<class Sender>
+void measure(char const* label, Sender sender)
+{
+    using concrete_op = ex::connect_result_t<Sender, receiver>;
+    using erased_op = ex::connect_result_t<any_sender, receiver>;
+
+    std::atomic<bool> done{false};
+    any_sender erased{sender};
+    g_alloc_count = 0;
+    g_alloc_bytes = 0;
+    auto op = ex::connect(std::move(erased), receiver{&done});
+    auto const connect_count = g_alloc_count;
+    auto const connect_bytes = g_alloc_bytes;
+    g_alloc_count = 0;
+    ex::start(op);
+    auto const start_count = g_alloc_count;
+    done.wait(false);
+
+    done = false;
+    auto cop = ex::connect(std::move(sender), receiver{&done});
+    g_alloc_count = 0;
+    ex::start(cop);
+    done.wait(false);
+
+    std::printf("%s\n", label);
+    std::printf("  erased op state:   %zu bytes, connect allocates %zu "
+        "(%zu bytes), start allocates %zu\n", sizeof(erased_op),
+        connect_count, connect_bytes, start_count);
+    std::printf("  concrete op state: %zu bytes, connect allocates 0, "
+        "start allocates %zu\n", sizeof(concrete_op), g_alloc_count);
+}
+
+int main()
+{
+    std::printf("stdexec any_sender small buffer: 64 bytes\n");
+    measure("starts_on(inline_scheduler, just(42))",
+        ex::starts_on(ex::inline_scheduler{}, ex::just(42)));
+
+    exec::static_thread_pool pool(1);
+    measure("starts_on(static_thread_pool::scheduler, just(42))",
+        ex::starts_on(pool.get_scheduler(), ex::just(42)));
+    pool.request_stop();
+}