Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.001%

Price spread now: Paradex against Coinbase International+0.026%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Paradex is 0.026% dearer against Coinbase International than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WTIOIL-PERP-INTX	93.500	−0.0008	get 0.0001% / 1h	55m 49s	$404K	$931K	15x
Short	Paradex CL-USD-PERP	93.524	0.0025	get 0.0025% / 8h	1h 55m	$16K	$367	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.026%Rate

Funding earned: $6.9
Price spread: +0.026% → 0.000%: $2.6
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$4.49
Costs to cover: 0.140%
Break-even: 11.6 days

Slippage unknown: Coinbase International: live order book, 28 min ago; Paradex: no order-book sample. Net counts fees only.

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, 28 min ago	1.61 bp	8.6 bp −$9	11.0 bp −$110	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0391%	1h	93.490	−0.011%	$196K	$379K	15x	as long as short
Aster CLUSD1	−0.0273%	4h	93.535	+0.038%	$24.4M	$64.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0272%	4h	93.479	−0.022%	$58K	$629K	25x	as long as short
Binance CLUSDT	−0.0162%	4h	93.501	+0.001%	$246.3M	$929.9M	100x	as long as short
Variational Omni CL	−0.0153%	4h	93.499	−0.001%	$13.4M	$10.8M	—	as long as short
Aftermath Perps WTIUSD	−0.0148%	1h	93.515	+0.016%	$2K	$26K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0137%	1h	93.522	+0.023%	$286K	$959K	25x	as long as short
Bitget CLUSDT	−0.0114%	4h	93.488	−0.013%	$42.2M	$42.8M	100x	as long as short
Gate CL_USDT	−0.0088%	8h	93.430	−0.075%	$22.1M	$48.1M	100x	as long as short
edgeX CLUSDC	−0.0051%	4h	93.497	−0.003%	$526K	$305K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0037%	1h	93.488	−0.013%	$184.7M	$212.7M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0034%	1h	93.480	−0.021%	$3.5M	$5.4M	20x	as long as short
OKX CL-USDT-SWAP	−0.0031%	4h	93.500	0.000%	$42.7M	$101.9M	50x	as long as short
QFEX CL-USD	−0.0023%	1h	93.520	+0.021%	$2.3M	$2.5M	10x	as long as short
Nado WTI-PERP	−0.0020%	1h	93.582	+0.088%	$969K	$630K	10x	as long as short
Coinbase International WTIOIL-PERP-INTXlong	−0.0008%	1h	93.500	long leg	$404K	$931K	15x
dYdX WTI-USD	0.0000%	1h	93.589	+0.095%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.521	+0.022%	$27.1M	$79.4M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.573	+0.078%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.570	+0.075%	$38K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.517	+0.019%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.059	−0.472%	$5K	—	150x	as long as short
Paradex CL-USD-PERPshort	+0.0025%	8h	93.524	+0.026%	$16K	$367	5x
Lighter WTI	+0.0032%	1h	93.492	−0.009%	$11.3M	$9.6M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.520	+0.021%	$2.0M	$16.4M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.500	0.000%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.530	+0.032%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.512	+0.013%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.520	+0.021%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.544	+0.047%	$333K	$577K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.521	+0.022%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.540	+0.043%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.500	0.000%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0206%	4h	93.600	+0.107%	$4.0M	$981K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.74	+9.887%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0243% / S −0.0176%	1h	93.515	+0.016%	$84K	—	111x	as long as short