Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.006%

Price spread now: Coinbase International against Binance+0.109%7-day average −0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$260.262% of the position

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.175%−$17 on $10k

Price spread, last 2 days (all we have)−0.231%−$23 · spread now +0.109%, 7d avg −0.076%

Together, before fees−0.406%−$41 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Coinbase International is 0.184% dearer against Binance than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −0.076%. Mind the row above: over the last 7 days funding on this pair cost −0.175%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CLUSDT	91.980	0	get 0.0000% / 4h	2h 24m	$247.0M	$1.14B	100x
Short	Coinbase International WTIOIL-PERP-INTX	92.080	0.0040	get 0.0005% / 1h	24m 46s	$393K	$1.3M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Binance. 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 BinancebpFee Coinbase InternationalbpOrdersPrice spread, now +0.109%Rate

Funding earned: $8.4
Price spread: +0.109% → −0.076%: $18.44
Slippage, 4 orders: −$6.24
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $0.6
Costs to cover: 0.262%
Break-even: 6.5 days

Slippage from Binance: live order book, 4 min ago; Coinbase International: live order book, 4 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 Binance live order book, 4 min ago	0.54 bp	5.5 bp −$6	5.7 bp −$57	11.7 bp −$1,168	40.6 bp −$20.3K
Sell Coinbase International live order book, 4 min ago	0.54 bp	6.6 bp −$7	10.1 bp −$101	doesn't fit	doesn't fit

CL on 35 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
QFEX CL-USD	−0.0019%	1h	91.990	+0.011%	$2.4M	$2.8M	10x	as long as short
Aster CLUSD1	0.0000%	4h	92.010	+0.033%	$24.6M	$77.0M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	91.916	−0.070%	$8K	$3K	5x	as long as short
Binance CLUSDTlong	0.0000%	4h	91.980	long leg	$247.0M	$1.14B	100x
Bybit CLUSDT	0.0000%	8h	91.970	−0.011%	$25.3M	$100.3M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	91.980	0.000%	$43.1M	$117.1M	50x	as long as short
Gate CL_USDT	0.0000%	8h	91.910	−0.076%	$21.2M	$63.1M	100x	as long as short
Bitget CLUSDT	0.0000%	4h	91.972	−0.009%	$42.2M	$69.1M	100x	as long as short
Variational Omni CL	0.0000%	4h	91.992	+0.013%	$13.7M	$16.1M	—	as long as short
GRVT CL_USDT_Perp	0.0000%	4h	91.989	+0.010%	$58K	$782K	25x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit WTIOIL_USDC-PERPETUAL	0.0000%	1h	91.930	−0.054%	$95K	$291K	15x	as long as short
Aftermath Perps WTIUSD	+0.0001%	1h	91.968	−0.013%	$2K	$31K	5x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.000	+0.022%	$33K	$99K	20x	as long as short
Bullet WTIOIL-USD	+0.0018%	1h	91.926	−0.059%	$18K	$241K	10x	as long as short
Lighter WTI	+0.0032%	1h	91.948	−0.035%	$11.0M	$12.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.018	+0.041%	$1.9M	$29.7M	10x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	92.044	+0.070%	$17K	$18K	30x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0040%	1h	91.927	−0.057%	$257K	$1.3M	25x	as long as short
StandX CL-USD	+0.0040%	1h	92.000	+0.022%	$725K	$3.0M	40x	as long as short
Coinbase International WTIOIL-PERP-INTXshort	+0.0040%	1h	92.080	+0.109%	$393K	$1.3M	15x
edgeX CLUSDC	+0.0042%	4h	91.987	+0.008%	$529K	$341K	30x	as long as short
Vest CL-PERP	+0.0046%	1h	92.020	+0.043%	—	$243K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	91.979	−0.001%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	91.938	−0.046%	$2.0M	$42K	20x	as long as short
Ondo Perps WTI-USD.P	+0.0050%	1h	91.980	0.000%	$3.5M	$6.6M	20x	as long as short
tradeXYZ xyz:CL	+0.0070%	1h	91.966	−0.015%	$182.3M	$294.2M	20x	as long as short
Paradex CL-USD-PERP	+0.0097%	8h	91.945	−0.038%	$15K	$367	5x	as long as short
Pacifica CL	+0.0100%	1h	91.990	+0.011%	$332K	$573K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	91.971	−0.010%	$7.4M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.080	+0.109%	$55K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.961	−0.021%	$4K	$49	10x	as long as short
Nado WTI-PERP	+0.0183%	1h	91.932	−0.053%	$879K	$789K	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0212% / S −0.0127%	1h	91.915	−0.071%	$76K	—	29x	as long as short
BloFin CL-USDT	+0.0240%	4h	91.910	−0.076%	$4.0M	$1.5M	50x	as long as short
RISEx CL/USDC	+0.0266%	1h	92.047	+0.073%	$3.2M	$2.7M	20x	as long as short