Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0197%/8h= +21.6% APRpaid last 24h +0.010%

Price spread now: Phoenix against Aster+0.087%105s7-day average — · you sell dearer than you buy

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

Long on Aster Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.159%+$16 on $10k

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.087% dearer against Aster than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 105 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster CLUSD1	92.080	−0.0188	get 0.0094% / 4h	55m 36s	$24.0M	$77.5M	20x
Short	Phoenix WTIOIL	92.160	0.0009	get 0.0001% / 1h	55m 36s	$37K	$101K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.087%Rate

Funding earned: $41.37
Price spread: +0.087% → 0.000%: $8.69
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $35.06
Costs to cover: 0.150%
Break-even: 1.1 days

Slippage unknown: Aster: live order book, 4 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Aster live order book, 4 min ago	1.09 bp	5.1 bp −$5	5.9 bp −$59	doesn't fit	doesn'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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0450%	1h	92.102	+0.024%	$275K	$1.2M	25x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0293%	1h	92.100	+0.022%	$96K	$189K	15x	as long as short
GRVT CL_USDT_Perp	−0.0242%	4h	92.079	−0.001%	$58K	$715K	25x	as long as short
Aster CLUSD1long	−0.0188%	4h	92.080	long leg	$24.0M	$77.5M	20x
Nado WTI-PERP	−0.0168%	1h	92.151	+0.077%	$924K	$746K	10x	as long as short
Lighter WTI	−0.0168%	1h	92.068	−0.013%	$11.2M	$10.9M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0107%	1h	92.080	0.000%	$3.5M	$6.4M	20x	as long as short
Paradex CL-USD-PERP	−0.0099%	8h	92.052	−0.030%	$15K	$367	5x	as long as short
tradeXYZ xyz:CL	−0.0098%	1h	92.092	+0.013%	$185.8M	$278.4M	20x	as long as short
Binance CLUSDT	−0.0096%	4h	92.062	−0.020%	$244.4M	$1.11B	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet WTIOIL-USD	−0.0059%	1h	92.086	+0.007%	$19K	$241K	10x	as long as short
QFEX CL-USD	−0.0054%	1h	92.070	−0.011%	$2.4M	$2.6M	10x	as long as short
Variational Omni CL	−0.0051%	4h	92.083	+0.003%	$13.4M	$13.3M	—	as long as short
Pacifica CL	−0.0020%	1h	92.082	+0.002%	$332K	$578K	10x	as long as short
Gate CL_USDT	−0.0017%	8h	92.000	−0.087%	$21.3M	$57.3M	100x	as long as short
dYdX WTI-USD	0.0000%	1h	92.108	+0.030%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.090	+0.011%	$25.5M	$95.4M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.070	−0.011%	$43.1M	$113.1M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.189	+0.119%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.053	−0.029%	$42.1M	$52.1M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	−0.054%	$399K	$999K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.677	−0.438%	$4K	—	150x	as long as short
Aftermath Perps WTIUSD	+0.0008%	1h	92.127	+0.051%	$2K	$29K	5x	as long as short
Phoenix WTIOILshort	+0.0009%	1h	92.160	+0.087%	$37K	$101K	20x
Extended WTI-USD	+0.0032%	1h	92.135	+0.060%	$2.0M	$27.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.080	0.000%	$724K	$3.1M	40x	as long as short
Polymarket Perps WTIOIL-USD	+0.0043%	1h	92.089	+0.010%	$1.6M	$1.4M	20x	as long as short
Vest CL-PERP	+0.0046%	1h	92.160	+0.087%	—	$308K	10x	as long as short
edgeX CLUSDC	+0.0046%	4h	92.127	+0.051%	$530K	$333K	30x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.095	+0.016%	$2.0M	$39K	20x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.086	+0.007%	$7.2M	$2.0M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.150	+0.076%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.064	−0.018%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	92.075	−0.005%	$76K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.28	+9.986%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.090	+0.011%	$4.0M	$1.4M	50x	as long as short