Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0258%/8h= +28.2% APRpaid last 24h +0.040%

Price spread now: Coinbase International against Aster+0.088%54s7-day average −0.119% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$250.247% of the position

Long on Aster Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.129%−$13 on $10k

Price spread, last 4 days (all we have)−0.185%−$18 · spread now +0.088%, 7d avg −0.119%

Together, before fees−0.313%+ Points / potential airdropAster: Stage 5 · farm board−$31 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Coinbase International is 0.207% dearer against Aster than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of −0.119%. Mind the row above: over the last 7 days funding on this pair cost −0.129%, so the current rate has only just turned in your favour. The two prices were read 54 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 7 days it paid -0.129% in total (about -6.7% 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	Aster CLUSD1	93.418	−0.0298	get 0.0149% / 4h	2h 22m	$24.4M	$65.0M	20x
Short	Coinbase International WTIOIL-PERP-INTX	93.500	−0.0040	pay 0.0005% / 1h	22m 27s	$404K	$931K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Aster. 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 AsterbpFee Coinbase InternationalbpOrdersPrice spread, now +0.088%Rate

Funding earned: $54.16
Price spread: +0.088% → −0.119%: $20.73
Slippage, 4 orders: −$6.68
Fee Aster: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $50.22
Costs to cover: 0.247%
Break-even: 0.5 days

Slippage from Aster: live order book, 2 min ago; Coinbase International: live order book, 1 min ago.

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 Aster live order book, 2 min ago	0.54 bp	4.5 bp −$5	5.3 bp −$53	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	1.61 bp	6.6 bp −$7	8.4 bp −$84	doesn't fit	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	−0.0499%	1h	93.400	−0.019%	$197K	$375K	15x	as long as short
GRVT CL_USDT_Perp	−0.0304%	4h	93.510	+0.099%	$58K	$629K	25x	as long as short
Aster CLUSD1long	−0.0298%	4h	93.418	long leg	$24.4M	$65.0M	20x
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.429	+0.012%	$285K	$958K	25x	as long as short
Binance CLUSDT	−0.0187%	4h	93.395	−0.025%	$246.0M	$933.1M	100x	as long as short
Variational Omni CL	−0.0182%	4h	93.450	+0.034%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0153%	1h	93.413	−0.005%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0130%	4h	93.393	−0.027%	$42.1M	$42.8M	100x	as long as short
Nado WTI-PERP	−0.0129%	1h	93.483	+0.070%	$967K	$615K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0105%	1h	93.410	−0.008%	$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	−0.0078%	8h	93.350	−0.073%	$21.9M	$49.8M	100x	as long as short
edgeX CLUSDC	−0.0074%	4h	93.495	+0.083%	$526K	$305K	30x	as long as short
tradeXYZ xyz:CL	−0.0067%	1h	93.397	−0.022%	$184.8M	$213.4M	20x	as long as short
OKX CL-USDT-SWAP	−0.0056%	4h	93.390	−0.030%	$42.6M	$102.6M	50x	as long as short
Coinbase International WTIOIL-PERP-INTXshort	−0.0040%	1h	93.500	+0.088%	$404K	$931K	15x
QFEX CL-USD	−0.0032%	1h	93.420	+0.002%	$2.3M	$2.4M	10x	as long as short
dYdX WTI-USD	0.0000%	1h	93.482	+0.069%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.420	+0.002%	$27.1M	$79.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.488	+0.075%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.550	+0.141%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.412	−0.007%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.943	−0.508%	$5K	—	150x	as long as short
Lighter WTI	+0.0008%	1h	93.469	+0.055%	$11.2M	$9.9M	20x	as long as short
Paradex CL-USD-PERP	+0.0009%	8h	93.461	+0.046%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.480	+0.066%	$2.0M	$17.2M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.450	+0.034%	$740K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.430	+0.013%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.467	+0.052%	$332K	$576K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.411	−0.007%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.420	+0.002%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0070%	4h	93.457	+0.042%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.410	−0.008%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.399	−0.020%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0184%	4h	93.450	+0.034%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.60	+9.832%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0238% / S −0.0170%	1h	93.395	−0.024%	$84K	—	111x	as long as short