Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0210%/8h= −23.0% APRpaid last 24h −0.026%

Price spread now: Binance against Extended−0.021%7-day average +0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$180.185% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.198%−$20 on $10k

Price spread, last 7 days+0.061%+$6 · spread now −0.021%, 7d avg +0.046%

Together, before fees−0.137%+ Points / potential airdropExtended: Active · farm board−$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Binance is 0.067% cheaper against Extended than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.046%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended WTI-USD	93.060	0.0032	pay 0.0004% / 1h	56m 17s	$2.0M	$20.0M	10x
Short	Binance CLUSDT	93.040	−0.0178	pay 0.0089% / 4h	3h 56m	$245.0M	$944.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Extended. 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 ExtendedbpFee BinancebpOrdersPrice spread, now −0.021%Rate

Funding earned: −$44.05
Price spread: −0.021% → +0.046%: −$6.74
Slippage, 4 orders: −$3.47
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$69.26
Costs to cover: 0.185%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; Binance: live order book, 3 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 Extended live order book, 3 min ago	0.32 bp	4.5 bp −$4	7.7 bp −$77	23.7 bp −$2,373	doesn't fit
Sell Binance live order book, 3 min ago	0.54 bp	5.5 bp −$6	6.2 bp −$62	9.1 bp −$914	22.3 bp −$11.2K

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	−0.0287%	1h	93.020	−0.043%	$198K	$370K	15x	as long as short
Aster CLUSD1	−0.0267%	4h	93.074	+0.015%	$24.1M	$66.5M	20x	as long as short
Binance CLUSDTshort	−0.0178%	4h	93.040	−0.021%	$245.0M	$944.9M	100x
Variational Omni CL	−0.0172%	4h	92.899	−0.173%	$13.5M	$10.8M	—	as long as short
Bitget CLUSDT	−0.0128%	4h	93.030	−0.032%	$42.0M	$43.5M	100x	as long as short
Aftermath Perps WTIUSD	−0.0108%	1h	92.992	−0.074%	$2K	$27K	5x	as long as short
Nado WTI-PERP	−0.0107%	1h	93.082	+0.024%	$964K	$647K	10x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.043	−0.019%	$268K	$934K	25x	as long as short
Ondo Perps WTI-USD.P	−0.0054%	1h	93.000	−0.064%	$3.5M	$5.4M	20x	as long as short
edgeX CLUSDC	−0.0053%	4h	92.956	−0.112%	$526K	$302K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAP	−0.0048%	4h	93.050	−0.011%	$42.6M	$102.8M	50x	as long as short
Gate CL_USDT	−0.0044%	8h	93.000	−0.064%	$20.9M	$50.5M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.930	−0.140%	$399K	$948K	15x	as long as short
QFEX CL-USD	−0.0033%	1h	93.020	−0.043%	$2.3M	$1.8M	10x	as long as short
KuCoin CLUSDTM	−0.0020%	4h	93.053	−0.008%	$7.1M	$2.4M	50x	as long as short
tradeXYZ xyz:CL	−0.0015%	1h	93.046	−0.015%	$184.6M	$219.8M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.030	−0.032%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.040	−0.021%	$26.5M	$80.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.105	+0.048%	$3.1M	$2.9M	20x	as long as short
GRVT CL_USDT_Perp	0.0000%	4h	92.971	−0.095%	$56K	$656K	25x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.980	−0.086%	$37K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.046	−0.015%	$18K	$243K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.589	−0.506%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0006%	8h	93.018	−0.045%	$16K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	93.034	−0.028%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USDlong	+0.0032%	1h	93.060	long leg	$2.0M	$20.0M	10x
StandX CL-USD	+0.0040%	1h	92.980	−0.086%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.050	−0.011%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.038	−0.024%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.035	−0.027%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.035	−0.027%	$330K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.010	−0.054%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.010	−0.053%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0190%	4h	93.070	+0.011%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0218% / S −0.0145%	1h	93.045	−0.016%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.17	+9.785%	$19K	$11K	30x	as long as short