Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0070%/8h= +7.6% APRpaid last 24h +0.022%

Price spread now: SoDEX against Binance−0.010%7-day average −0.023% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$490.486% of the position

Long on Binance Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.060%+$6 on $10k

Price spread, last 2 days (all we have)−0.039%−$4 · spread now −0.010%, 7d avg −0.023%

Together, before fees+0.021%+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.023%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CLUSDT	91.991	−0.0020	get 0.0010% / 4h	1h 16m	$245.3M	$1.12B	100x
Short	SoDEX CL-USD	91.982	0.0050	get 0.0006% / 1h	16m 12s	$2.0M	$39K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.010%Rate

Funding earned: $14.63
Price spread: −0.010% → −0.023%: $1.31
Slippage, 4 orders: −$30.6
Fee Binance: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$32.66
Costs to cover: 0.486%
Break-even: 22.6 days

Slippage from Binance: live order book, 13 min ago; SoDEX: 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	6.6 bp −$663	21.7 bp −$10.9K
Sell SoDEX live order book, 3 min ago	0.54 bp	18.7 bp −$19	83.4 bp −$834	doesn't fit	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
Lighter WTI	−0.0296%	1h	91.971	−0.022%	$11.1M	$11.4M	20x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0293%	1h	92.010	+0.020%	$95K	$208K	15x	as long as short
GRVT CL_USDT_Perp	−0.0172%	4h	91.968	−0.026%	$58K	$715K	25x	as long as short
Nado WTI-PERP	−0.0167%	1h	92.058	+0.072%	$923K	$748K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0167%	1h	91.960	−0.034%	$3.5M	$6.4M	20x	as long as short
Aftermath Perps WTIUSD	−0.0157%	1h	92.036	+0.048%	$2K	$30K	5x	as long as short
tradeXYZ xyz:CL	−0.0144%	1h	92.015	+0.026%	$185.3M	$280.0M	20x	as long as short
Bullet WTIOIL-USD	−0.0121%	1h	91.986	−0.006%	$18K	$240K	10x	as long as short
Aster CLUSD1	−0.0119%	4h	92.004	+0.013%	$23.9M	$78.4M	20x	as long as short
Paradex CL-USD-PERP	−0.0107%	8h	91.967	−0.026%	$15K	$367	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CLUSDTlong	−0.0020%	4h	91.991	long leg	$245.3M	$1.12B	100x
Polymarket Perps WTIOIL-USD	−0.0003%	1h	91.991	0.000%	$1.6M	$1.4M	20x	as long as short
Gate CL_USDT	−0.0003%	8h	91.930	−0.067%	$21.2M	$59.4M	100x	as long as short
dYdX WTI-USD	0.0000%	1h	92.108	+0.126%	$8K	$3K	5x	as long as short
Extended WTI-USD	0.0000%	1h	92.050	+0.064%	$2.0M	$28.8M	10x	as long as short
Bybit CLUSDT	0.0000%	8h	92.012	+0.022%	$25.4M	$97.3M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	91.970	−0.023%	$43.2M	$113.7M	50x	as long as short
QFEX CL-USD	0.0000%	1h	91.970	−0.023%	$2.4M	$2.6M	10x	as long as short
Bitget CLUSDT	0.0000%	4h	91.984	−0.008%	$42.1M	$52.5M	100x	as long as short
Variational Omni CL	0.0000%	4h	91.944	−0.052%	$13.4M	$13.4M	—	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.574	−0.454%	$4K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.040	+0.053%	$37K	$99K	20x	as long as short
StandX CL-USD	+0.0013%	1h	91.990	−0.002%	$723K	$3.0M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.090	+0.107%	—	$243K	10x	as long as short
SoDEX CL-USDshort	+0.0050%	1h	91.982	−0.010%	$2.0M	$39K	20x
edgeX CLUSDC	+0.0062%	4h	91.969	−0.024%	$529K	$341K	30x	as long as short
Pacifica CL	+0.0100%	1h	91.994	+0.003%	$332K	$579K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.006	+0.016%	$7.2M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	91.970	−0.023%	$55K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.967	−0.026%	$4K	—	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0112%	1h	92.020	+0.031%	$398K	$1.1M	15x	as long as short
Injective WTI/USDC PERP	+0.0172%	1h	101.16	+9.966%	$19K	$18K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	91.985	−0.007%	$76K	—	111x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.000	+0.009%	$4.0M	$1.5M	50x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0450%	1h	92.003	+0.012%	$275K	$1.2M	25x	as long as short
RISEx CL/USDC	+0.0977%	1h	92.107	+0.125%	$3.2M	$2.7M	20x	as long as short