Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0214%/8h= +23.4% APRpaid last 24h +0.035%

Price spread now: Extended against Binance+0.031%7-day average −0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs+$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$180.180% of the position

Long on Binance Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.202%+$20 on $10k

Price spread, last 7 days−0.079%−$8 · spread now +0.031%, 7d avg −0.045%

Together, before fees+0.124%+ Points / potential airdropExtended: Active · farm board+$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Extended is 0.076% dearer against Binance than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CLUSDT	93.461	−0.0182	get 0.0091% / 4h	2h 16m	$246.1M	$932.6M	100x
Short	Extended WTI-USD	93.490	0.0032	get 0.0004% / 1h	16m 23s	$2.0M	$17.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.031%Rate

Funding earned: $44.94
Price spread: +0.031% → −0.045%: $7.61
Slippage, 4 orders: −$3
Fee Binance: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $34.55
Costs to cover: 0.180%
Break-even: 1.6 days

Slippage from Binance: live order book, 13 min ago; Extended: live order book, 3 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, 13 min ago	0.54 bp	5.5 bp −$6	5.5 bp −$55	8.1 bp −$807	26.5 bp −$13.2K
Sell Extended live order book, 3 min ago	0.05 bp	3.6 bp −$4	7.0 bp −$70	23.6 bp −$2,358	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	−0.0392%	1h	93.420	−0.044%	$196K	$376K	15x	as long as short
GRVT CL_USDT_Perp	−0.0294%	4h	93.442	−0.020%	$58K	$629K	25x	as long as short
Aster CLUSD1	−0.0290%	4h	93.494	+0.035%	$24.4M	$64.9M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.462	+0.001%	$285K	$958K	25x	as long as short
Binance CLUSDTlong	−0.0182%	4h	93.461	long leg	$246.1M	$932.6M	100x
Variational Omni CL	−0.0174%	4h	93.399	−0.067%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0154%	1h	93.452	−0.009%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0128%	4h	93.441	−0.021%	$42.1M	$42.8M	100x	as long as short
Nado WTI-PERP	−0.0123%	1h	93.489	+0.030%	$967K	$614K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0091%	1h	93.400	−0.065%	$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	−0.0077%	8h	93.400	−0.065%	$21.9M	$50.0M	100x	as long as short
tradeXYZ xyz:CL	−0.0071%	1h	93.442	−0.020%	$184.9M	$213.5M	20x	as long as short
OKX CL-USDT-SWAP	−0.0049%	4h	93.450	−0.012%	$42.7M	$102.9M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.500	+0.042%	$404K	$931K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.430	−0.033%	$2.3M	$2.5M	10x	as long as short
edgeX CLUSDC	−0.0010%	4h	93.378	−0.089%	$525K	$306K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	93.495	+0.036%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.474	+0.014%	$27.2M	$79.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.501	+0.043%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.500	+0.042%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.461	0.000%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.004	−0.489%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0014%	8h	93.433	−0.030%	$16K	$367	5x	as long as short
Lighter WTI	+0.0016%	1h	93.430	−0.033%	$11.2M	$9.9M	20x	as long as short
Extended WTI-USDshort	+0.0032%	1h	93.490	+0.031%	$2.0M	$17.0M	10x
StandX CL-USD	+0.0040%	1h	93.450	−0.012%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.450	−0.012%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.452	−0.009%	$332K	$577K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.447	−0.015%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.450	−0.012%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0080%	4h	93.471	+0.011%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.420	−0.044%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.424	−0.040%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0189%	4h	93.460	−0.001%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.64	+9.826%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0238% / S −0.0171%	1h	93.455	−0.006%	$84K	—	111x	as long as short