Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0303%/8h= −33.2% APRpaid last 24h −0.045%

Price spread now: Variational Omni against ApeX Omni−0.003%58s7-day average −0.017% · you buy dearer than you sell

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

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.096%−$10 on $10k

Price spread, last 4 days (all we have)−0.024%−$2 · spread now −0.003%, 7d avg −0.017%

Together, before fees−0.120%+ Points / potential airdropVariational Omni: Active · farm board−$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.017%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.096% in total (about -10.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni CLUSDT	92.780	0.0100	pay 0.0013% / 1h	36m 31s	$56K	$265K	50x
Short	Variational Omni CL	92.777	−0.0203	pay 0.0102% / 4h	1h 36m	$13.6M	$11.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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

Position, each leg$Hold fordaysFee ApeX OmnibpFee Variational OmnibpOrdersPrice spread, now −0.003%Rate

Funding earned: −$63.7
Price spread: −0.003% → −0.017%: $1.39
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$72.32
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 25 min ago; 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 ApeX Omni live order book, 25 min ago	8.62 bp	21.0 bp −$21	195.1 bp −$1,951	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.27 bp	doesn't fit	2.5 bp −$25	7.4 bp −$744	doesn't fit

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	−0.0720%	1h	92.680	−0.108%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0248%	4h	92.709	−0.077%	$23.9M	$69.1M	20x	as long as short
GRVT CL_USDT_Perp	−0.0228%	4h	92.729	−0.054%	$61K	$633K	25x	as long as short
Binance CLUSDT	−0.0210%	4h	92.700	−0.086%	$244.5M	$955.9M	100x	as long as short
Variational Omni CLshort	−0.0203%	4h	92.777	−0.003%	$13.6M	$11.1M	—
Ondo Perps WTI-USD.P	−0.0166%	1h	92.660	−0.129%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0143%	1h	92.804	+0.026%	$960K	$664K	10x	as long as short
Gate CL_USDT	−0.0093%	8h	92.660	−0.129%	$20.9M	$52.4M	100x	as long as short
tradeXYZ xyz:CL	−0.0070%	1h	92.716	−0.069%	$184.3M	$218.0M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.032%	$402K	$944K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAP	−0.0040%	4h	92.680	−0.108%	$42.7M	$101.9M	50x	as long as short
QFEX CL-USD	−0.0032%	1h	92.710	−0.075%	$2.5M	$1.7M	10x	as long as short
Aftermath Perps WTIUSD	−0.0028%	1h	92.796	+0.018%	$2K	$27K	5x	as long as short
edgeX CLUSDC	−0.0011%	4h	92.800	+0.021%	$528K	$301K	30x	as long as short
Lighter WTI	0.0000%	1h	92.716	−0.069%	$11.2M	$10.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.761	−0.020%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.705	−0.081%	$26.4M	$81.3M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.715	−0.070%	$41.9M	$43.3M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	+0.011%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.727	−0.057%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.295	−0.523%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0008%	1h	92.760	−0.022%	$2.1M	$23.0M	10x	as long as short
Paradex CL-USD-PERP	+0.0021%	8h	92.696	−0.090%	$15K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	92.430	−0.377%	$726K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.770	−0.011%	—	$310K	10x	as long as short
KuCoin CLUSDTM	+0.0050%	4h	92.764	−0.017%	$7.3M	$2.3M	50x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.749	−0.033%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.716	−0.069%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	92.832	+0.056%	$3.3M	$2.7M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.700	−0.086%	$331K	$618K	10x	as long as short
ApeX Omni CLUSDTlong	+0.0100%	1h	92.780	long leg	$56K	$265K	50x
Aevo WTIOIL-PERP	+0.0104%	1h	92.691	−0.096%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.722	−0.062%	$273K	$872K	25x	as long as short
BloFin CL-USDT	+0.0206%	4h	92.700	−0.086%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.715	−0.070%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.95	+9.888%	$19K	$11K	30x	as long as short