Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0241%/8h= −26.4% APRpaid last 24h −0.084%

Price spread now: Nado against BloFin−0.116%7-day average +0.043% · 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−$42as in the Price arb table

costs, in and out, $10k−$270.266% of the position

Long on BloFin Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.307%−$31 on $10k

Price spread, last 4 days (all we have)+0.416%+$42 · spread now −0.116%, 7d avg +0.043%

Together, before fees+0.109%+ Points / potential airdropNado: Active · farm board+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Nado is 0.159% cheaper against BloFin than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of +0.043%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin CL-USDT	89.580	0.0206	pay 0.0103% / 4h	1h 52m	$3.9M	$1.1M	50x
Short	Nado WTI-PERP	89.476	−0.0035	pay 0.0004% / 1h	52m 59s	$871K	$683K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against BloFin. 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 BloFinbpFee NadobpOrdersPrice spread, now −0.116%Rate

Funding earned: −$50.68
Price spread: −0.116% → +0.043%: −$15.87
Slippage, 4 orders: −$7.57
Fee BloFin: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$93.11
Costs to cover: 0.266%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Nado: live order book, 58 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 BloFin live order book, 3 min ago	1.68 bp	7.7 bp −$8	7.9 bp −$79	14.4 bp −$1,437	41.1 bp −$20.6K
Sell Nado live order book, 58 min ago	1.04 bp	5.4 bp −$5	8.7 bp −$87	35.5 bp −$3,553	doesn't fit

CL on 36 exchanges

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	−0.0341%	1h	89.598	+0.020%	$319K	$1.8M	25x	as long as short
Aster CLUSD1	−0.0147%	4h	89.630	+0.056%	$24.3M	$71.2M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0125%	1h	89.450	−0.145%	$3.4M	$6.1M	20x	as long as short
Bitget CLUSDT	−0.0116%	4h	89.601	+0.023%	$40.6M	$56.4M	100x	as long as short
GRVT CL_USDT_Perp	−0.0114%	4h	89.326	−0.284%	$66K	$632K	25x	as long as short
Binance CLUSDT	−0.0099%	4h	89.600	+0.022%	$241.0M	$1.20B	100x	as long as short
tradeXYZ xyz:CL	−0.0095%	1h	89.581	+0.001%	$168.2M	$241.9M	20x	as long as short
edgeX CLUSDC	−0.0080%	4h	89.515	−0.072%	$495K	$383K	30x	as long as short
Variational Omni CL	−0.0080%	4h	89.432	−0.165%	$12.6M	$11.3M	—	as long as short
Extended WTI-USD	−0.0080%	1h	89.590	+0.011%	$1.2M	$14.6M	10x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0075%	8h	89.540	−0.045%	$22.9M	$53.4M	100x	as long as short
Aftermath Perps WTIUSD	−0.0052%	1h	89.626	+0.051%	$1K	$27K	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	89.360	−0.246%	$408K	$1.5M	15x	as long as short
Nado WTI-PERPshort	−0.0035%	1h	89.476	−0.116%	$871K	$683K	10x
OKX CL-USDT-SWAP	−0.0027%	4h	89.500	−0.089%	$40.0M	$131.3M	50x	as long as short
QFEX CL-USD	−0.0025%	1h	89.470	−0.123%	$2.2M	$2.8M	10x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	89.229	−0.392%	$607	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	89.424	−0.174%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	89.582	+0.002%	$26.7M	$108.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	89.623	+0.048%	$2.8M	$3.1M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	89.500	−0.089%	$32K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	89.620	+0.045%	$16K	$238K	10x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	0.0000%	1h	89.600	+0.022%	$46K	$651K	15x	as long as short
Paradex CL-USD-PERP	+0.0011%	8h	89.488	−0.103%	$15K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	89.574	−0.007%	$10.6M	$10.2M	20x	as long as short
StandX CL-USD	+0.0040%	1h	89.400	−0.201%	$690K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	89.490	−0.100%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	89.493	−0.097%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	89.589	+0.010%	$2.0M	$84K	20x	as long as short
Pacifica CL	+0.0100%	1h	89.487	−0.104%	$300K	$729K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	89.588	+0.009%	$6.9M	$3.0M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	89.420	−0.179%	$52K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	89.573	−0.008%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0165% / S +0.0014%	1h	89.615	+0.039%	$73K	—	111x	as long as short
BloFin CL-USDTlong	+0.0206%	4h	89.580	long leg	$3.9M	$1.1M	50x
Injective WTI/USDC PERP	+0.0220%	1h	90.137	+0.622%	$16K	$5K	30x	as long as short