Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0140%/8h= −15.3% APRpaid last 24h −0.013%

Price spread now: Nado against edgeX+0.084%7-day average +0.038% · 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−$34as in the Price arb table

costs, in and out, $10k−$390.389% of the position

Long on edgeX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.011%−$1 · spread now +0.084%, 7d avg +0.038%

Together, before fees−0.012%+ Points / potential airdropedgeX: Active · Nado: Active · farm board−$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.045% dearer against edgeX than usual: you sell high and buy low (spread +0.084% now, against its 7-day average of +0.038%): +$5 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 26 hours. At the pace of the last 3 days (−0.001% in total) that is about 8 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CLUSDC	92.902	−0.0015	get 0.0008% / 4h	1h 12m	$529K	$303K	30x
Short	Nado WTI-PERP	92.980	−0.0155	pay 0.0019% / 1h	12m 47s	$961K	$658K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.084%Rate

Funding earned: −$29.31
Price spread: +0.084% → +0.038%: $4.54
Slippage, 4 orders: −$22.88
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$63.66
Costs to cover: 0.389%
Break-even: never at this rate

Slippage from edgeX: live order book, 51 min ago; Nado: live order book, 51 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, 51 min ago	10.13 bp	14.6 bp −$15	15.0 bp −$150	22.8 bp −$2,277	doesn't fit
Sell Nado live order book, 51 min ago	0.05 bp	5.0 bp −$5	8.1 bp −$81	29.6 bp −$2,962	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	−0.0718%	1h	92.880	−0.023%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0256%	4h	92.916	+0.016%	$24.0M	$67.9M	20x	as long as short
GRVT CL_USDT_Perp	−0.0238%	4h	92.910	+0.008%	$53K	$635K	25x	as long as short
Binance CLUSDT	−0.0205%	4h	92.890	−0.013%	$244.6M	$952.5M	100x	as long as short
Variational Omni CL	−0.0195%	4h	92.857	−0.048%	$13.5M	$11.2M	—	as long as short
Ondo Perps WTI-USD.P	−0.0162%	1h	92.810	−0.099%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERPshort	−0.0155%	1h	92.980	+0.084%	$961K	$658K	10x
OKX CL-USDT-SWAP	−0.0075%	4h	92.890	−0.013%	$42.9M	$102.1M	50x	as long as short
tradeXYZ xyz:CL	−0.0071%	1h	92.891	−0.012%	$184.4M	$217.5M	20x	as long as short
Gate CL_USDT	−0.0070%	8h	92.840	−0.066%	$20.9M	$53.0M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended WTI-USD	−0.0064%	1h	92.950	+0.052%	$2.1M	$22.3M	10x	as long as short
Aftermath Perps WTIUSD	−0.0063%	1h	92.897	−0.005%	$2K	$27K	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.163%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	92.890	−0.013%	$2.5M	$1.7M	10x	as long as short
edgeX CLUSDClong	−0.0015%	4h	92.902	long leg	$529K	$303K	30x
Lighter WTI	0.0000%	1h	92.913	+0.012%	$11.2M	$10.5M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.937	+0.038%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.890	−0.013%	$26.5M	$81.0M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.888	−0.015%	$42.1M	$43.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.950	+0.052%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.918	+0.017%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.499	−0.433%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0012%	8h	92.900	−0.002%	$16K	$367	5x	as long as short
KuCoin CLUSDTM	+0.0012%	4h	92.880	−0.023%	$7.3M	$2.3M	50x	as long as short
StandX CL-USD	+0.0040%	1h	92.870	−0.034%	$732K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.940	+0.041%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.926	+0.026%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.905	+0.004%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	93.015	+0.122%	$3.1M	$2.9M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.910	+0.009%	$331K	$619K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.970	+0.074%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.874	−0.029%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.939	+0.040%	$274K	$872K	25x	as long as short
BloFin CL-USDT	+0.0168%	4h	92.900	−0.002%	$4.1M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.915	+0.014%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.10	+9.899%	$19K	$11K	30x	as long as short