Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0042%/8h= −4.6% APRpaid last 24h −0.007%

Price spread now: edgeX against Coinbase International+0.119%7-day average +0.103% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$440.438% of the position

Long on Coinbase International Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 4 days (all we have)+0.037%+$4 · spread now +0.119%, 7d avg +0.103%

Together, before fees+0.018%+ Points / potential airdropedgeX: Active · farm board+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.103%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WTIOIL-PERP-INTX	92.930	−0.0040	get 0.0005% / 1h	52m 37s	$399K	$926K	15x
Short	edgeX CLUSDC	93.040	−0.0082	pay 0.0041% / 4h	3h 52m	$527K	$303K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.119%Rate

Funding earned: −$8.81
Price spread: +0.119% → +0.103%: $1.59
Slippage, 4 orders: −$24.82
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$51.04
Costs to cover: 0.438%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 41 min ago; edgeX: live order book, 66 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, 41 min ago	2.15 bp	7.4 bp −$7	9.4 bp −$94	doesn't fit	doesn't fit
Sell edgeX live order book, 66 min ago	10.05 bp	14.5 bp −$15	14.9 bp −$149	22.3 bp −$2,231	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	−0.0395%	1h	93.020	+0.097%	$198K	$370K	15x	as long as short
Aster CLUSD1	−0.0266%	4h	93.087	+0.169%	$24.1M	$66.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0186%	4h	93.024	+0.101%	$54K	$658K	25x	as long as short
Binance CLUSDT	−0.0176%	4h	93.070	+0.151%	$244.9M	$942.3M	100x	as long as short
Variational Omni CL	−0.0168%	4h	93.019	+0.095%	$13.5M	$10.8M	—	as long as short
Bitget CLUSDT	−0.0126%	4h	93.054	+0.133%	$42.0M	$43.3M	100x	as long as short
Nado WTI-PERP	−0.0110%	1h	93.069	+0.150%	$964K	$645K	10x	as long as short
Aftermath Perps WTIUSD	−0.0107%	1h	93.020	+0.096%	$2K	$27K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0092%	1h	93.020	+0.097%	$3.5M	$5.3M	20x	as long as short
edgeX CLUSDCshort	−0.0082%	4h	93.040	+0.119%	$527K	$303K	30x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.049	+0.128%	$268K	$935K	25x	as long as short
Gate CL_USDT	−0.0046%	8h	93.020	+0.097%	$20.9M	$50.7M	100x	as long as short
OKX CL-USDT-SWAP	−0.0045%	4h	93.060	+0.140%	$42.6M	$102.5M	50x	as long as short
Coinbase International WTIOIL-PERP-INTXlong	−0.0040%	1h	92.930	long leg	$399K	$926K	15x
QFEX CL-USD	−0.0033%	1h	93.040	+0.118%	$2.3M	$1.8M	10x	as long as short
KuCoin CLUSDTM	−0.0020%	4h	93.083	+0.165%	$7.1M	$2.4M	50x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.050	+0.129%	$37K	$41K	20x	as long as short
tradeXYZ xyz:CL	−0.0003%	1h	93.070	+0.151%	$184.6M	$218.6M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.030	+0.108%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.080	+0.161%	$26.5M	$80.4M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.136	+0.222%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.029	+0.107%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.588	−0.368%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0010%	8h	93.051	+0.130%	$16K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	93.061	+0.141%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.090	+0.172%	$2.0M	$19.8M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.030	+0.108%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.040	+0.118%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.024	+0.101%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.045	+0.124%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.069	+0.149%	$330K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.030	+0.108%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.997	+0.073%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0194%	4h	93.030	+0.108%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0218% / S −0.0146%	1h	93.025	+0.102%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.17	+9.939%	$19K	$11K	30x	as long as short