Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0397%/8h= +43.5% APRpaid last 24h +0.060%

Price spread now: Injective against Binance+9.809%107s7-day average — · you sell dearer than you buy

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

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Injective is 9.809% dearer against Binance than usual: you sell high and buy low: +$981 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 107 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	Binance CLUSDT	93.040	−0.0177	get 0.0089% / 4h	3h 55m	$245.0M	$944.6M	100x
Short	Injective WTI/USDC PERP	102.17	0.0220	get 0.0028% / 1h	55m 39s	$19K	$11K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +9.809%Rate

Funding earned: $83.43
Price spread: +9.809% → 0.000%: $980.87
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,054.28
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 3 min ago; Injective: 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 Binance live order book, 3 min ago	0.54 bp	5.5 bp −$6	5.5 bp −$55	8.3 bp −$828	20.2 bp −$10.1K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Deribit WTIOIL_USDC-PERPETUAL	−0.0287%	1h	93.020	−0.021%	$198K	$370K	15x	as long as short
Aster CLUSD1	−0.0267%	4h	93.077	+0.040%	$24.1M	$66.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0186%	4h	93.024	−0.017%	$54K	$658K	25x	as long as short
Binance CLUSDTlong	−0.0177%	4h	93.040	long leg	$245.0M	$944.6M	100x
Variational Omni CL	−0.0168%	4h	93.019	−0.023%	$13.5M	$10.8M	—	as long as short
Bitget CLUSDT	−0.0128%	4h	93.037	−0.003%	$42.0M	$43.3M	100x	as long as short
Aftermath Perps WTIUSD	−0.0108%	1h	92.992	−0.052%	$2K	$27K	5x	as long as short
Nado WTI-PERP	−0.0108%	1h	93.105	+0.070%	$964K	$647K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0080%	1h	93.000	−0.043%	$3.5M	$5.4M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.043	+0.003%	$268K	$934K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0060%	4h	93.018	−0.023%	$526K	$303K	30x	as long as short
OKX CL-USDT-SWAP	−0.0047%	4h	93.050	+0.011%	$42.6M	$102.7M	50x	as long as short
Gate CL_USDT	−0.0044%	8h	92.990	−0.054%	$20.9M	$50.6M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.930	−0.118%	$399K	$948K	15x	as long as short
QFEX CL-USD	−0.0033%	1h	93.020	−0.021%	$2.3M	$1.8M	10x	as long as short
KuCoin CLUSDTM	−0.0020%	4h	93.069	+0.031%	$7.1M	$2.4M	50x	as long as short
tradeXYZ xyz:CL	−0.0012%	1h	93.056	+0.017%	$184.6M	$219.8M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.030	−0.010%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.050	+0.011%	$26.5M	$80.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.117	+0.083%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.980	−0.064%	$37K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.046	+0.006%	$18K	$243K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.589	−0.485%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0007%	8h	93.037	−0.003%	$16K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	93.043	+0.003%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.080	+0.043%	$2.0M	$19.9M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.020	−0.021%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.050	+0.011%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.036	−0.004%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.035	−0.005%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.051	+0.012%	$330K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.030	−0.011%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.010	−0.032%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0190%	4h	93.070	+0.032%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0218% / S −0.0145%	1h	93.045	+0.005%	$81K	—	111x	as long as short
Injective WTI/USDC PERPshort	+0.0220%	1h	102.17	+9.809%	$19K	$11K	30x