Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0058%/8h= +6.3% APRpaid last 24h +0.010%

Price spread now: Nado against Binance+0.039%7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$210.206% of the position

Long on Binance Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.043%−$4 on $10k

Price spread, last 7 days−0.073%−$7 · spread now +0.039%, 7d avg −0.022%

Together, before fees−0.116%+ Points / potential airdropNado: Active · farm board−$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Nado is 0.062% dearer against Binance than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CLUSDT	93.530	−0.0178	get 0.0089% / 4h	2h 12m	$246.2M	$932.5M	100x
Short	Nado WTI-PERP	93.567	−0.0120	pay 0.0015% / 1h	12m 29s	$968K	$614K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.039%Rate

Funding earned: $12.13
Price spread: +0.039% → −0.022%: $6.16
Slippage, 4 orders: −$3.63
Fee Binance: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$2.34
Costs to cover: 0.206%
Break-even: 8.3 days

Slippage from Binance: live order book, 16 min ago; Nado: live order book, 36 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, 16 min ago	0.54 bp	5.5 bp −$6	5.5 bp −$55	8.1 bp −$807	26.5 bp −$13.2K
Sell Nado live order book, 36 min ago	0.05 bp	4.5 bp −$5	8.4 bp −$84	28.1 bp −$2,808	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	−0.0391%	1h	93.510	−0.021%	$197K	$377K	15x	as long as short
GRVT CL_USDT_Perp	−0.0288%	4h	93.460	−0.075%	$58K	$629K	25x	as long as short
Aster CLUSD1	−0.0286%	4h	93.550	+0.021%	$24.4M	$64.8M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0203%	1h	93.533	+0.004%	$286K	$959K	25x	as long as short
Binance CLUSDTlong	−0.0178%	4h	93.530	long leg	$246.2M	$932.5M	100x
Variational Omni CL	−0.0170%	4h	93.440	−0.097%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0154%	1h	93.473	−0.061%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0124%	4h	93.508	−0.024%	$42.2M	$42.7M	100x	as long as short
Nado WTI-PERPshort	−0.0120%	1h	93.567	+0.039%	$968K	$614K	10x
Ondo Perps WTI-USD.P	−0.0081%	1h	93.500	−0.032%	$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	−0.0076%	8h	93.470	−0.064%	$22.0M	$50.1M	100x	as long as short
tradeXYZ xyz:CL	−0.0072%	1h	93.509	−0.022%	$185.0M	$213.6M	20x	as long as short
OKX CL-USDT-SWAP	−0.0042%	4h	93.530	0.000%	$42.7M	$102.9M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.500	−0.032%	$404K	$931K	15x	as long as short
edgeX CLUSDC	−0.0040%	4h	93.447	−0.089%	$525K	$307K	30x	as long as short
QFEX CL-USD	−0.0032%	1h	93.510	−0.021%	$2.3M	$2.5M	10x	as long as short
dYdX WTI-USD	0.0000%	1h	93.495	−0.037%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.550	+0.021%	$27.0M	$79.9M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.576	+0.049%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.500	−0.032%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.506	−0.026%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.054	−0.509%	$5K	—	150x	as long as short
Lighter WTI	+0.0016%	1h	93.527	−0.003%	$11.2M	$9.9M	20x	as long as short
Paradex CL-USD-PERP	+0.0016%	8h	93.506	−0.025%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.550	+0.021%	$2.0M	$16.9M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.480	−0.053%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.520	−0.011%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.534	+0.004%	$332K	$577K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.509	−0.022%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.522	−0.009%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0088%	4h	93.537	+0.007%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.460	−0.075%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.505	−0.027%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0194%	4h	93.480	−0.053%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.64	+9.746%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0239% / S −0.0172%	1h	93.535	+0.005%	$84K	—	111x	as long as short