CL

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0418%/8h= +45.7% APRnext payment +$0.52 per $10,000 · paid last 24h +0.063%

Price spread now: Coinbase International against Deribit+0.011%7-day average −0.119% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$240.237% of the position

Long on Deribit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.085%−$9 on $10k

Price spread, last 4 days (all we have)+0.031%+$3 · spread now +0.011%, 7d avg −0.119%

Together, before fees−0.054%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Coinbase International is 0.130% dearer against Deribit than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.119%. Mind the row above: over the last 4 days funding on this pair cost −0.085%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.085% in total (about -7.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.52 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit WTIOIL_USDC-PERPETUAL	90.900	−0.0410	get 0.0051% / 1h	20m 08s	$182K	$435K	15x
Short	Coinbase International WTIOIL-PERP-INTX	90.910	0.0008	get 0.0001% / 1h	20m 08s	$409K	$1.1M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Deribit. 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 DeribitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.011%Rate

Funding earned: $87.7
Price spread: +0.011% → −0.119%: $12.95
Slippage, 4 orders: −$6.75
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $76.91
Costs to cover: 0.237%
Break-even: 0.9 days

Slippage from Deribit: live order book, 31 min ago; Coinbase International: live order book, 1 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 Deribit live order book, 31 min ago	0.55 bp	5.0 bp −$5	6.6 bp −$66	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	2.20 bp	7.2 bp −$7	9.4 bp −$94	doesn't fit	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
Deribit WTIOIL_USDC-PERPETUALlong	−0.0410%	1h	90.900	long leg	$182K	$435K	15x
Kraken Futures PF_WTIOILUSD	−0.0364%	1h	90.924	+0.027%	$305K	$1.3M	25x	as long as short
Aster CLUSD1	−0.0173%	4h	90.979	+0.087%	$24.7M	$65.3M	20x	as long as short
Binance CLUSDT	−0.0115%	4h	90.940	+0.044%	$246.4M	$1.09B	100x	as long as short
Bitget CLUSDT	−0.0108%	4h	90.919	+0.021%	$41.3M	$48.7M	100x	as long as short
edgeX CLUSDC	−0.0097%	4h	91.058	+0.174%	$509K	$378K	30x	as long as short
Extended WTI-USD	−0.0096%	1h	90.950	+0.055%	$1.4M	$14.0M	10x	as long as short
Variational Omni CL	−0.0084%	4h	90.906	+0.007%	$12.9M	$11.1M	—	as long as short
Nado WTI-PERP	−0.0083%	1h	90.978	+0.086%	$914K	$652K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0067%	1h	90.850	−0.055%	$3.4M	$5.7M	20x	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	−0.0065%	8h	90.870	−0.033%	$23.1M	$53.5M	100x	as long as short
tradeXYZ xyz:CL	−0.0062%	1h	90.936	+0.040%	$177.0M	$208.9M	20x	as long as short
GRVT CL_USDT_Perp	−0.0042%	4h	91.038	+0.151%	$69K	$626K	25x	as long as short
Aftermath Perps WTIUSD	−0.0031%	1h	91.018	+0.130%	$2K	$27K	5x	as long as short
QFEX CL-USD	−0.0023%	1h	90.940	+0.044%	$2.2M	$3.0M	10x	as long as short
OKX CL-USDT-SWAP	−0.0021%	4h	90.930	+0.033%	$40.5M	$117.5M	50x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	90.534	−0.403%	$1K	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	90.969	+0.076%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	90.950	+0.055%	$27.0M	$95.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	90.976	+0.084%	$2.9M	$3.0M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	90.931	+0.034%	$17K	$238K	10x	as long as short
Lighter WTI	+0.0008%	1h	90.921	+0.023%	$11.1M	$9.5M	20x	as long as short
Coinbase International WTIOIL-PERP-INTXshort	+0.0008%	1h	90.910	+0.011%	$409K	$1.1M	15x
Paradex CL-USD-PERP	+0.0012%	8h	90.886	−0.015%	$15K	$367	5x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	100.27	+10.306%	$19K	$5K	30x	as long as short
StandX CL-USD	+0.0040%	1h	90.970	+0.077%	$708K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	90.930	+0.033%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	90.907	+0.008%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	90.931	+0.034%	$2.0M	$81K	20x	as long as short
Phoenix WTIOIL	+0.0053%	1h	90.920	+0.022%	$36K	$37K	20x	as long as short
Pacifica CL	+0.0100%	1h	90.917	+0.018%	$303K	$649K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	90.960	+0.066%	$6.8M	$2.8M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	90.870	−0.033%	$53K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	90.902	+0.002%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0216%	4h	90.930	+0.033%	$3.9M	$1.0M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0250% / S −0.0172%	1h	90.925	+0.028%	$81K	—	111x	as long as short