Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0059%/8h= +6.5% APRpaid last 24h −0.008%

Price spread now: tradeXYZ against Binance+0.021%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$300.296% of the position

Long on Binance Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 2 days (all we have)−0.033%−$3 · spread now +0.021%, 7d avg −0.002%

Together, before fees+0.036%+ Points / potential airdroptradeXYZ: Active · farm board+$4 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 tradeXYZ is 0.022% dearer against Binance than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CLUSDT	92.090	−0.0159	get 0.0079% / 4h	40m 38s	$245.4M	$1.10B	100x
Short	tradeXYZ xyz:CL	92.109	−0.0100	pay 0.0012% / 1h	40m 38s	$187.1M	$276.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.021%Rate

Funding earned: $12.38
Price spread: +0.021% → −0.002%: $2.22
Slippage, 4 orders: −$1.63
Fee Binance: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$15.03
Costs to cover: 0.296%
Break-even: 15.5 days

Slippage from Binance: live order book, 3 min ago; tradeXYZ: live order book, 9 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, 3 min ago	0.54 bp	5.5 bp −$6	5.5 bp −$55	8.1 bp −$813	23.6 bp −$11.8K
Sell tradeXYZ live order book, 9 min ago	0.16 bp	9.2 bp −$9	9.9 bp −$99	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
Kraken Futures PF_WTIOILUSD	−0.0450%	1h	92.106	+0.017%	$274K	$1.2M	25x	as long as short
GRVT CL_USDT_Perp	−0.0310%	4h	92.070	−0.022%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0234%	4h	92.100	+0.011%	$24.0M	$77.7M	20x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0184%	1h	92.090	0.000%	$96K	$189K	15x	as long as short
Nado WTI-PERP	−0.0175%	1h	92.133	+0.046%	$924K	$741K	10x	as long as short
Binance CLUSDTlong	−0.0159%	4h	92.090	long leg	$245.4M	$1.10B	100x
Lighter WTI	−0.0128%	1h	92.073	−0.018%	$11.1M	$10.9M	20x	as long as short
Variational Omni CL	−0.0123%	4h	91.994	−0.105%	$13.4M	$12.7M	—	as long as short
Ondo Perps WTI-USD.P	−0.0114%	1h	92.080	−0.011%	$3.5M	$6.4M	20x	as long as short
Paradex CL-USD-PERP	−0.0104%	8h	92.055	−0.038%	$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
tradeXYZ xyz:CLshort	−0.0100%	1h	92.109	+0.021%	$187.1M	$276.8M	20x
Bullet WTIOIL-USD	−0.0071%	1h	92.060	−0.033%	$18K	$241K	10x	as long as short
QFEX CL-USD	−0.0054%	1h	92.040	−0.054%	$2.4M	$2.6M	10x	as long as short
Gate CL_USDT	−0.0026%	8h	92.020	−0.076%	$21.3M	$57.6M	100x	as long as short
Pacifica CL	−0.0020%	1h	92.097	+0.008%	$332K	$576K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.108	+0.019%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.100	+0.011%	$25.5M	$94.8M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.090	0.000%	$43.1M	$112.8M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.184	+0.102%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.084	−0.007%	$42.0M	$51.7M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.120	+0.033%	$37K	$101K	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	−0.065%	$399K	$966K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.645	−0.483%	$4K	—	150x	as long as short
Extended WTI-USD	+0.0008%	1h	92.120	+0.033%	$2.0M	$27.5M	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0033%	1h	92.068	−0.024%	$1.6M	$1.4M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.100	+0.011%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.120	+0.033%	—	$308K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.085	−0.005%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0059%	4h	92.037	−0.057%	$529K	$336K	30x	as long as short
Aftermath Perps WTIUSD	+0.0076%	1h	92.085	−0.006%	$2K	$29K	5x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.082	−0.009%	$7.3M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.150	+0.065%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.046	−0.048%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	92.065	−0.027%	$76K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.28	+9.974%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.080	−0.011%	$4.0M	$1.4M	50x	as long as short