Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0168%/8h= −18.4% APRpaid last 24h −0.032%

Price spread now: Variational Omni against Extended−0.055%7-day average +0.012% · you buy dearer than you sell

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

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.205%−$21 on $10k

Price spread, last 7 days+0.095%+$9 · spread now −0.055%, 7d avg +0.012%

Together, before fees−0.110%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Variational Omni 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 +0.012%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended WTI-USD	93.730	0.0032	pay 0.0004% / 1h	35m 47s	$2.0M	$15.9M	10x
Short	Variational Omni CL	93.679	−0.0136	pay 0.0068% / 4h	1h 35m	$13.5M	$10.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.055%Rate

Funding earned: −$35.28
Price spread: −0.055% → +0.012%: −$6.68
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$46.97
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 3 min ago; Variational Omni: RFQ quote, 3 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 Extended live order book, 3 min ago	0.05 bp	3.4 bp −$3	6.5 bp −$65	21.5 bp −$2,152	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.26 bp	doesn't fit	2.3 bp −$23	5.0 bp −$505	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	−0.0390%	1h	93.680	−0.053%	$197K	$382K	15x	as long as short
Aster CLUSD1	−0.0268%	4h	93.712	−0.019%	$24.5M	$65.3M	20x	as long as short
GRVT CL_USDT_Perp	−0.0246%	4h	93.610	−0.128%	$58K	$629K	25x	as long as short
Aftermath Perps WTIUSD	−0.0147%	1h	93.719	−0.012%	$2K	$26K	5x	as long as short
Binance CLUSDT	−0.0147%	4h	93.690	−0.043%	$246.5M	$920.5M	100x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0137%	1h	93.699	−0.033%	$287K	$957K	25x	as long as short
Variational Omni CLshort	−0.0136%	4h	93.679	−0.055%	$13.5M	$10.6M	—
Ondo Perps WTI-USD.P	−0.0110%	1h	93.650	−0.085%	$3.5M	$5.3M	20x	as long as short
Gate CL_USDT	−0.0102%	8h	93.610	−0.128%	$22.4M	$49.0M	100x	as long as short
Bitget CLUSDT	−0.0100%	4h	93.667	−0.067%	$42.2M	$42.1M	100x	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	−0.0066%	1h	93.699	−0.033%	$185.1M	$206.6M	20x	as long as short
Nado WTI-PERP	−0.0057%	1h	93.742	+0.013%	$966K	$625K	10x	as long as short
QFEX CL-USD	−0.0023%	1h	93.670	−0.064%	$2.3M	$2.5M	10x	as long as short
edgeX CLUSDC	−0.0018%	4h	93.716	−0.015%	$527K	$305K	30x	as long as short
OKX CL-USDT-SWAP	−0.0015%	4h	93.690	−0.043%	$42.6M	$101.6M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0008%	1h	93.500	−0.245%	$404K	$916K	15x	as long as short
dYdX WTI-USD	0.0000%	1h	93.733	+0.003%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.699	−0.033%	$27.0M	$79.2M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.749	+0.020%	$3.1M	$2.8M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.680	−0.053%	$37K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.697	−0.035%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.244	−0.519%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0027%	8h	93.680	−0.054%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	93.696	−0.036%	$11.3M	$9.6M	20x	as long as short
Extended WTI-USDlong	+0.0032%	1h	93.730	long leg	$2.0M	$15.9M	10x
StandX CL-USD	+0.0040%	1h	93.700	−0.032%	$743K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.720	−0.011%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.685	−0.048%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.696	−0.036%	$2.1M	$61K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.698	−0.034%	$333K	$575K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.708	−0.023%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.640	−0.096%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.667	−0.067%	$4K	—	10x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.97	+9.861%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0225%	4h	93.750	+0.021%	$4.0M	$978K	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0247% / S −0.0181%	1h	93.695	−0.037%	$84K	—	111x	as long as short