Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0228%/8h= −24.9% APRpaid last 24h −0.027%

Price spread now: Aster against Coinbase International0.000%7-day average +0.119% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$240.242% of the position

Long on Coinbase International Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.145%+$15 on $10k

Price spread, last 4 days (all we have)+0.173%+$17 · spread now 0.000%, 7d avg +0.119%

Together, before fees+0.318%+ Points / potential airdropAster: Stage 5 · farm board+$32 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 Aster is 0.119% cheaper against Coinbase International than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.119%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.145%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.145% in total (about 7.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WTIOIL-PERP-INTX	92.930	−0.0048	get 0.0006% / 1h	2m 02s	$399K	$948K	15x
Short	Aster CLUSD1	92.930	−0.0276	pay 0.0138% / 4h	2m 02s	$24.0M	$66.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Coinbase International. 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 Coinbase InternationalbpFee AsterbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$47.85
Price spread: 0.000% → +0.119%: −$11.92
Slippage, 4 orders: −$6.24
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$84.01
Costs to cover: 0.242%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 31 min ago; Aster: live order book, 2 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 Coinbase International live order book, 31 min ago	2.15 bp	7.4 bp −$7	9.4 bp −$94	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	0.54 bp	4.5 bp −$5	4.5 bp −$45	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
Deribit WTIOIL_USDC-PERPETUAL	−0.0503%	1h	92.870	−0.065%	$198K	$370K	15x	as long as short
Aster CLUSD1short	−0.0276%	4h	92.930	0.000%	$24.0M	$66.4M	20x
GRVT CL_USDT_Perp	−0.0248%	4h	92.847	−0.089%	$63K	$648K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0196%	1h	92.929	−0.001%	$272K	$875K	25x	as long as short
Binance CLUSDT	−0.0185%	4h	92.907	−0.025%	$244.5M	$944.1M	100x	as long as short
Variational Omni CL	−0.0179%	4h	92.839	−0.098%	$13.5M	$10.8M	—	as long as short
Bitget CLUSDT	−0.0132%	4h	92.907	−0.025%	$41.9M	$43.5M	100x	as long as short
tradeXYZ xyz:CL	−0.0116%	1h	92.885	−0.048%	$187.4M	$216.9M	20x	as long as short
Aftermath Perps WTIUSD	−0.0106%	1h	92.929	−0.001%	$2K	$27K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0087%	1h	92.870	−0.065%	$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
edgeX CLUSDC	−0.0080%	4h	92.863	−0.072%	$526K	$304K	30x	as long as short
OKX CL-USDT-SWAP	−0.0056%	4h	92.890	−0.043%	$42.5M	$102.6M	50x	as long as short
Coinbase International WTIOIL-PERP-INTXlong	−0.0048%	1h	92.930	long leg	$399K	$948K	15x
Gate CL_USDT	−0.0046%	8h	92.850	−0.086%	$20.8M	$52.4M	100x	as long as short
QFEX CL-USD	−0.0043%	1h	92.890	−0.043%	$2.3M	$1.8M	10x	as long as short
Nado WTI-PERP	−0.0040%	1h	92.959	+0.031%	$963K	$647K	10x	as long as short
KuCoin CLUSDTM	−0.0034%	4h	92.918	−0.013%	$7.1M	$2.4M	50x	as long as short
Lighter WTI	0.0000%	1h	92.901	−0.031%	$11.2M	$10.6M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.937	+0.007%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.910	−0.022%	$26.5M	$80.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.967	+0.040%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.940	+0.011%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.912	−0.019%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.459	−0.507%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0003%	8h	92.888	−0.046%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	92.950	+0.022%	$2.0M	$20.1M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.920	−0.011%	$734K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.920	−0.011%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.910	−0.022%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.895	−0.038%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0068%	1h	92.896	−0.036%	$330K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.000	+0.075%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.881	−0.053%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0183%	4h	92.900	−0.032%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0217% / S −0.0145%	1h	92.905	−0.027%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.25	+10.030%	$19K	$11K	30x	as long as short