Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0029%/8h= −3.2% APRpaid last 24h −0.003%

Price spread now: Variational Omni against Aftermath Perps+0.039%7-day average — · you sell dearer than you buy

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

Long on Aftermath Perps Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.039% dearer against Aftermath Perps than usual: you sell high and buy low (spread +0.039% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps WTIUSD	93.413	−0.0153	get 0.0019% / 1h	21m 38s	$2K	$26K	5x
Short	Variational Omni CL	93.450	−0.0182	pay 0.0091% / 4h	2h 21m	$13.4M	$10.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Aftermath Perps. 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 Aftermath PerpsbpFee Variational OmnibpOrdersPrice spread, now +0.039%Rate

Funding earned: −$6.1
Price spread: +0.039% → 0.000%: $3.93
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$11.17
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; Variational Omni: RFQ quote, 3 min ago. 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 3 min ago	2.26 bp	doesn't fit	2.3 bp −$23	10.3 bp −$1,027	doesn't fit

Aftermath Perps: 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.

CL on 36 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
Deribit WTIOIL_USDC-PERPETUAL	−0.0606%	1h	93.350	−0.067%	$196K	$375K	15x	as long as short
GRVT CL_USDT_Perp	−0.0304%	4h	93.510	+0.104%	$58K	$629K	25x	as long as short
Aster CLUSD1	−0.0298%	4h	93.430	+0.018%	$24.4M	$65.0M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.416	+0.004%	$285K	$958K	25x	as long as short
Binance CLUSDT	−0.0187%	4h	93.395	−0.019%	$246.0M	$933.1M	100x	as long as short
Variational Omni CLshort	−0.0182%	4h	93.450	+0.039%	$13.4M	$10.9M	—
Aftermath Perps WTIUSDlong	−0.0153%	1h	93.413	long leg	$2K	$26K	5x
Bitget CLUSDT	−0.0130%	4h	93.379	−0.036%	$42.1M	$42.8M	100x	as long as short
Nado WTI-PERP	−0.0129%	1h	93.483	+0.075%	$967K	$615K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0102%	1h	93.370	−0.046%	$3.5M	$5.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0077%	8h	93.330	−0.089%	$21.9M	$49.8M	100x	as long as short
edgeX CLUSDC	−0.0074%	4h	93.495	+0.088%	$526K	$305K	30x	as long as short
tradeXYZ xyz:CL	−0.0068%	1h	93.379	−0.036%	$184.8M	$213.4M	20x	as long as short
OKX CL-USDT-SWAP	−0.0055%	4h	93.400	−0.014%	$42.6M	$102.8M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.500	+0.093%	$404K	$931K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.420	+0.008%	$2.3M	$2.4M	10x	as long as short
dYdX WTI-USD	0.0000%	1h	93.403	−0.011%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.404	−0.010%	$27.2M	$79.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.450	+0.039%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.550	+0.147%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.412	−0.001%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.943	−0.503%	$5K	—	150x	as long as short
Lighter WTI	+0.0008%	1h	93.390	−0.025%	$11.2M	$9.9M	20x	as long as short
Paradex CL-USD-PERP	+0.0010%	8h	93.379	−0.037%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.420	+0.008%	$2.0M	$17.2M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.450	+0.040%	$740K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.430	+0.018%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.398	−0.016%	$332K	$576K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.411	−0.002%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.387	−0.028%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0070%	4h	93.414	+0.001%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.410	−0.003%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.371	−0.045%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0184%	4h	93.450	+0.040%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.60	+9.838%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0238% / S −0.0170%	1h	93.395	−0.019%	$84K	—	111x	as long as short