CL

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.04 per $10,000 · paid last 24h −0.010%

Price spread now: Phoenix against Extended+0.043%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$250.246% of the position

Long on Extended Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 3 days (all we have)+0.015%+$1 · spread now +0.043%, 7d avg +0.042%

Together, before fees−0.005%+ Points / potential airdropExtended: Active · farm board−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.042%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended WTI-USD	92.260	0.0032	pay 0.0004% / 1h	58m 44s	$2.0M	$26.6M	10x
Short	Phoenix WTIOIL	92.300	0	get 0.0000% / 1h	58m 44s	$37K	$66K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$6.72
Price spread: +0.043% → +0.042%: $0.16
Slippage, 4 orders: −$12.57
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$31.13
Costs to cover: 0.246%
Break-even: never at this rate

Slippage from Extended: live order book, 5 min ago; Phoenix: live order book, 54 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, 5 min ago	0.22 bp	2.9 bp −$3	5.0 bp −$50	22.3 bp −$2,230	doesn't fit
Sell Phoenix live order book, 54 min ago	2.17 bp	8.9 bp −$9	17.6 bp −$176	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
GRVT CL_USDT_Perp	−0.0328%	4h	92.193	−0.072%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0299%	4h	92.242	−0.019%	$23.9M	$77.5M	20x	as long as short
Binance CLUSDT	−0.0223%	4h	92.226	−0.037%	$244.4M	$1.08B	100x	as long as short
Variational Omni CL	−0.0206%	4h	92.193	−0.073%	$13.2M	$12.7M	—	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0183%	1h	92.260	0.000%	$96K	$189K	15x	as long as short
Nado WTI-PERP	−0.0131%	1h	92.294	+0.037%	$925K	$733K	10x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.278	+0.019%	$273K	$1.2M	25x	as long as short
QFEX CL-USD	−0.0054%	1h	92.240	−0.022%	$2.4M	$2.3M	10x	as long as short
Lighter WTI	−0.0048%	1h	92.227	−0.036%	$11.2M	$9.9M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.249%	$399K	$962K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0033%	8h	92.160	−0.108%	$21.3M	$53.9M	100x	as long as short
Paradex CL-USD-PERP	−0.0031%	8h	92.224	−0.039%	$15K	$367	5x	as long as short
Ondo Perps WTI-USD.P	−0.0027%	1h	92.180	−0.087%	$3.5M	$6.4M	20x	as long as short
Pacifica CL	−0.0020%	1h	92.246	−0.015%	$353K	$596K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.269	+0.010%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.220	−0.043%	$26.0M	$94.1M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.220	−0.043%	$43.0M	$111.5M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.356	+0.105%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.223	−0.040%	$42.0M	$51.5M	100x	as long as short
Phoenix WTIOILshort	0.0000%	1h	92.300	+0.043%	$37K	$66K	20x
Bullet WTIOIL-USD	0.0000%	1h	92.246	−0.015%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.816	−0.481%	$5K	—	150x	as long as short
edgeX CLUSDC	+0.0021%	4h	92.241	−0.020%	$530K	$326K	30x	as long as short
tradeXYZ xyz:CL	+0.0022%	1h	92.250	−0.011%	$186.1M	$267.3M	20x	as long as short
Extended WTI-USDlong	+0.0032%	1h	92.260	long leg	$2.0M	$26.6M	10x
StandX CL-USD	+0.0040%	1h	92.210	−0.054%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.280	+0.022%	—	$308K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.259	−0.001%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.246	−0.015%	$2.0M	$39K	20x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.232	−0.030%	$7.3M	$2.2M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.220	−0.043%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.225	−0.038%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0205% / S −0.0130%	1h	92.255	−0.005%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.34	+9.837%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.220	−0.043%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0514%	1h	92.256	−0.005%	$2K	$29K	5x	as long as short