Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0195%/8h= −21.4% APRpaid last 24h −0.027%

Price spread now: Binance against dYdX−0.042%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Binance is 0.042% cheaper against dYdX than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX WTI-USD	93.329	0	get 0.0000% / 1h	54m 10s	$8K	$3K	5x
Short	Binance CLUSDT	93.290	−0.0195	pay 0.0098% / 4h	2h 54m	$246.3M	$937.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against dYdX. 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 dYdXbpFee BinancebpOrdersPrice spread, now −0.042%Rate

Funding earned: −$41.02
Price spread: −0.042% → 0.000%: −$4.23
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$65.25
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: dYdX: no order-book sample; Binance: live order book, 5 min ago. 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 dYdX no order-book sample	—	—	—	—	—
Sell Binance live order book, 5 min ago	0.54 bp	5.5 bp −$6	5.5 bp −$55	8.5 bp −$847	22.8 bp −$11.4K

dYdX: 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	−0.0714%	1h	93.250	−0.085%	$197K	$372K	15x	as long as short
GRVT CL_USDT_Perp	−0.0340%	4h	93.316	−0.014%	$58K	$649K	25x	as long as short
Aster CLUSD1	−0.0290%	4h	93.320	−0.010%	$24.3M	$66.5M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.304	−0.027%	$282K	$961K	25x	as long as short
Binance CLUSDTshort	−0.0195%	4h	93.290	−0.042%	$246.3M	$937.7M	100x
Ondo Perps WTI-USD.P	−0.0182%	1h	93.260	−0.074%	$3.5M	$5.3M	20x	as long as short
Variational Omni CL	−0.0180%	4h	93.309	−0.022%	$13.3M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0136%	1h	93.358	+0.031%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0134%	4h	93.285	−0.048%	$42.1M	$43.1M	100x	as long as short
Nado WTI-PERP	−0.0123%	1h	93.349	+0.021%	$967K	$623K	10x	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	−0.0088%	1h	93.291	−0.041%	$184.4M	$215.4M	20x	as long as short
Gate CL_USDT	−0.0075%	8h	93.230	−0.107%	$21.5M	$49.1M	100x	as long as short
OKX CL-USDT-SWAP	−0.0067%	4h	93.290	−0.042%	$42.6M	$102.8M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	−0.182%	$403K	$929K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.280	−0.053%	$2.3M	$2.1M	10x	as long as short
Lighter WTI	−0.0024%	1h	93.292	−0.040%	$11.2M	$9.8M	20x	as long as short
edgeX CLUSDC	−0.0019%	4h	93.330	0.000%	$525K	$305K	30x	as long as short
Paradex CL-USD-PERP	−0.0014%	8h	93.279	−0.054%	$16K	$367	5x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.370	+0.043%	$37K	$41K	20x	as long as short
dYdX WTI-USDlong	0.0000%	1h	93.329	long leg	$8K	$3K	5x
Bybit CLUSDT	0.0000%	8h	93.310	−0.021%	$27.0M	$79.9M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.355	+0.027%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.285	−0.048%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.846	−0.518%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0024%	1h	93.330	+0.001%	$2.0M	$18.1M	10x	as long as short
KuCoin CLUSDTM	+0.0028%	4h	93.299	−0.033%	$7.1M	$2.4M	50x	as long as short
StandX CL-USD	+0.0040%	1h	93.320	−0.010%	$738K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.300	−0.032%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.294	−0.038%	$331K	$576K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.286	−0.047%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.285	−0.048%	$2.1M	$60K	20x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.290	−0.042%	$54K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.253	−0.082%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0175%	4h	93.320	−0.010%	$4.0M	$986K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.57	+9.903%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0229% / S −0.0159%	1h	93.285	−0.048%	$82K	—	111x	as long as short