Settings8H · net · $10k
Funding arb · Price arb /

CL

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 04:00 UTC−0.0109%/8h= −11.9% APRnext payment $0.14 per $10,000 · paid last 24h −0.030%
Price spread now: Phoenix against ApeX Omni−0.075%7-day average · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 7 days−0.124%−$12 on $10k
Price spread, last 7 daysno price history on both exchanges yet
Together, before feesneeds both histories
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phoenix is 0.075% cheaper against ApeX Omni than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongApeX Omni CLUSDT93.1200.0100pay 0.0013% / 1h50m 40s$56K$266K50x
ShortPhoenix WTIOIL93.050−0.0009pay 0.0001% / 1h50m 40s$37K$41K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against ApeX Omni. 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

Funding earned
−$22.81
Price spread: −0.075% → 0.000%
−$7.52
Slippage, 4 orders
no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders
−$10
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$47.32
Costs to cover
0.170%
Break-even
never at this rate
Slippage unknown: ApeX Omni: live order book, 1 min ago; Phoenix: 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
LegHalf-spread$10k$100k$1M$5M
Buy ApeX Omni live order book, 1 min ago8.60 bp19.7 bp −$20195.4 bp −$1,954doesn't fitdoesn't fit
Sell Phoenix no order-book sample
Phoenix: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Deribit WTIOIL_USDC-PERPETUAL−0.0287%1h93.1200.000%$199K$370K15xas long as short
Aster CLUSD1−0.0264%4h93.152+0.035%$24.1M$66.6M20xas long as short
GRVT CL_USDT_Perp−0.0238%4h93.007−0.122%$54K$658K25xas long as short
Binance CLUSDT−0.0175%4h93.146+0.028%$245.1M$942.5M100xas long as short
Variational Omni CL−0.0167%4h93.119−0.001%$13.5M$10.7Mas long as short
Bitget CLUSDT−0.0124%4h93.139+0.020%$42.0M$43.3M100xas long as short
Nado WTI-PERP−0.0119%1h93.109−0.012%$964K$645K10xas long as short
Aftermath Perps WTIUSD−0.0109%1h93.045−0.081%$2K$27K5xas long as short
Ondo Perps WTI-USD.P−0.0105%1h93.080−0.043%$3.5M$5.3M20xas long as short
edgeX CLUSDC−0.0077%4h93.022−0.105%$526K$303K30xas long as short
Show all 36 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Kraken Futures PF_WTIOILUSD−0.0061%1h93.154+0.036%$268K$935K25xas long as short
Gate CL_USDT−0.0046%8h93.100−0.021%$20.9M$50.7M100xas long as short
OKX CL-USDT-SWAP−0.0042%4h93.160+0.043%$42.6M$102.6M50xas long as short
Coinbase International WTIOIL-PERP-INTX−0.0040%1h93.190+0.075%$401K$928K15xas long as short
QFEX CL-USD−0.0033%1h93.110−0.011%$2.3M$1.8M10xas long as short
KuCoin CLUSDTM−0.0018%4h93.138+0.019%$7.1M$2.4M50xas long as short
Phoenix WTIOILshort−0.0009%1h93.050−0.075%$37K$41K20x
tradeXYZ xyz:CL−0.0002%1h93.143+0.025%$184.8M$218.7M20xas long as short
dYdX WTI-USD0.0000%1h93.160+0.043%$8K$3K5xas long as short
Bybit CLUSDT0.0000%8h93.170+0.054%$26.5M$80.7M150xas long as short
RISEx CL/USDC0.0000%1h93.215+0.102%$3.1M$2.9M20xas long as short
Bullet WTIOIL-USD0.0000%1h93.142+0.024%$19K$242K10xas long as short
gTrade (Gains Network) WTI/USDL 0.0000% / S +0.0036%1h92.687−0.465%$5K150xas long as short
Paradex CL-USD-PERP+0.0012%8h93.122+0.002%$16K$3675xas long as short
Lighter WTI+0.0024%1h93.142+0.024%$11.2M$10.3M20xas long as short
Extended WTI-USD+0.0032%1h93.170+0.054%$2.0M$19.7M10xas long as short
StandX CL-USD+0.0040%1h93.050−0.075%$735K$2.9M40xas long as short
Vest CL-PERP+0.0046%1h93.1200.000%$313K10xas long as short
Polymarket Perps WTIOIL-USD+0.0050%1h93.138+0.019%$1.7M$1.3M20xas long as short
SoDEX CL-USD+0.0050%1h93.137+0.018%$2.1M$60K20xas long as short
Pacifica CL+0.0100%1h93.155+0.037%$331K$622K10xas long as short
ApeX Omni CLUSDTlong+0.0100%1h93.120long leg$56K$266K50x
Aevo WTIOIL-PERP+0.0104%1h93.095−0.027%$4K10xas long as short
BloFin CL-USDT+0.0196%4h93.070−0.054%$4.0M$996K50xas long as short
GMX WTIOIL/USD [ETH-USDC]L +0.0219% / S −0.0146%1h93.135+0.016%$81K111xas long as short
Injective WTI/USDC PERP+0.0220%1h102.17+9.714%$19K$11K30xas long as short