Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.004%

Price spread now: Coinbase International against edgeX−0.367%7-day average −0.103% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$430.426% of the position

Long on edgeX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 4 days (all we have)+0.212%+$21 · spread now −0.367%, 7d avg −0.103%

Together, before fees+0.227%+ Points / potential airdropedgeX: Active · farm board+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.264% cheaper against edgeX than usual: you would sell low and buy high (spread −0.367% now, against its 7-day average of −0.103%). If the spread goes back, that is −$26 on $10k: about 28 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.016% in total) that is about 4 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CLUSDC	93.092	−0.0080	get 0.0040% / 4h	43m 04s	$530K	$302K	30x
Short	Coinbase International WTIOIL-PERP-INTX	92.750	−0.0048	pay 0.0006% / 1h	43m 04s	$402K	$944K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against edgeX. 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 edgeXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.367%Rate

Funding earned: $6.66
Price spread: −0.367% → −0.103%: −$26.44
Slippage, 4 orders: −$23.6
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$62.38
Costs to cover: 0.426%
Break-even: 72.5 days

Slippage from edgeX: live order book, 16 min ago; Coinbase International: live order book, 55 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 edgeX live order book, 16 min ago	10.05 bp	14.5 bp −$15	14.7 bp −$147	22.0 bp −$2,196	doesn't fit
Sell Coinbase International live order book, 55 min ago	1.62 bp	6.6 bp −$7	8.8 bp −$88	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	−0.0608%	1h	93.150	+0.062%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0249%	4h	93.210	+0.127%	$24.0M	$67.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0244%	4h	93.140	+0.052%	$54K	$635K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0195%	1h	93.209	+0.126%	$274K	$872K	25x	as long as short
Binance CLUSDT	−0.0193%	4h	93.210	+0.127%	$245.1M	$951.0M	100x	as long as short
Variational Omni CL	−0.0184%	4h	93.098	+0.006%	$13.5M	$11.0M	—	as long as short
tradeXYZ xyz:CL	−0.0108%	1h	93.195	+0.111%	$185.0M	$216.3M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0099%	1h	93.100	+0.009%	$3.5M	$5.6M	20x	as long as short
Aftermath Perps WTIUSD	−0.0091%	1h	93.164	+0.077%	$2K	$27K	5x	as long as short
edgeX CLUSDClong	−0.0080%	4h	93.092	long leg	$530K	$302K	30x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CLUSDT	−0.0076%	4h	93.197	+0.113%	$42.0M	$43.8M	100x	as long as short
OKX CL-USDT-SWAP	−0.0068%	4h	93.200	+0.116%	$42.6M	$102.9M	50x	as long as short
Gate CL_USDT	−0.0049%	8h	93.160	+0.073%	$20.9M	$51.4M	100x	as long as short
Coinbase International WTIOIL-PERP-INTXshort	−0.0048%	1h	92.750	−0.367%	$402K	$944K	15x
QFEX CL-USD	−0.0043%	1h	93.170	+0.084%	$2.5M	$1.7M	10x	as long as short
Nado WTI-PERP	−0.0029%	1h	93.243	+0.163%	$964K	$653K	10x	as long as short
Lighter WTI	−0.0008%	1h	93.188	+0.103%	$11.2M	$10.5M	20x	as long as short
Extended WTI-USD	−0.0008%	1h	93.230	+0.148%	$2.1M	$21.3M	10x	as long as short
KuCoin CLUSDTM	−0.0002%	4h	93.198	+0.114%	$7.1M	$2.4M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	93.188	+0.104%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.226	+0.144%	$26.8M	$80.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.267	+0.188%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.200	+0.116%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.196	+0.112%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.757	−0.360%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0015%	8h	93.176	+0.091%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	93.140	+0.052%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.200	+0.116%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.209	+0.126%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.192	+0.107%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0068%	1h	93.189	+0.104%	$330K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.210	+0.127%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.161	+0.075%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0171%	4h	93.200	+0.116%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0210% / S −0.0134%	1h	93.195	+0.111%	$79K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.31	+9.904%	$19K	$11K	30x	as long as short