Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0091%/8h= +9.9% APRpaid last 24h +0.001%

Price spread now: Nado against GRVT+0.094%7-day average +0.019% · 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−$17as in the Price arb table

costs, in and out, $10k−$240.243% of the position

Long on GRVT Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.045%−$5 on $10k

Price spread, last 4 days (all we have)−0.048%−$5 · spread now +0.094%, 7d avg +0.019%

Together, before fees−0.093%+ Points / potential airdropGRVT: Active · Nado: Active · farm board−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Nado is 0.076% dearer against GRVT than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT CL_USDT_Perp	92.900	−0.0244	get 0.0122% / 4h	1h 10m	$53K	$635K	25x
Short	Nado WTI-PERP	92.988	−0.0153	pay 0.0019% / 1h	10m 57s	$961K	$658K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against GRVT. 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 GRVTbpFee NadobpOrdersPrice spread, now +0.094%Rate

Funding earned: $19.03
Price spread: +0.094% → +0.019%: $7.58
Slippage, 4 orders: −$8.33
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $2.29
Costs to cover: 0.243%
Break-even: 6.2 days

Slippage from GRVT: live order book, 52 min ago; Nado: live order book, 52 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 GRVT live order book, 52 min ago	0.54 bp	8.7 bp −$9	12.3 bp −$123	doesn't fit	doesn't fit
Sell Nado live order book, 52 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	−0.0611%	1h	92.870	−0.032%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0261%	4h	92.920	+0.022%	$24.0M	$67.9M	20x	as long as short
GRVT CL_USDT_Perplong	−0.0244%	4h	92.900	long leg	$53K	$635K	25x
Binance CLUSDT	−0.0206%	4h	92.910	+0.011%	$244.7M	$952.5M	100x	as long as short
Variational Omni CL	−0.0197%	4h	92.897	−0.003%	$13.5M	$11.2M	—	as long as short
Ondo Perps WTI-USD.P	−0.0164%	1h	92.890	−0.011%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERPshort	−0.0153%	1h	92.988	+0.094%	$961K	$658K	10x
OKX CL-USDT-SWAP	−0.0076%	4h	92.910	+0.011%	$42.8M	$102.1M	50x	as long as short
Gate CL_USDT	−0.0072%	8h	92.860	−0.043%	$20.9M	$53.1M	100x	as long as short
tradeXYZ xyz:CL	−0.0072%	1h	92.897	−0.003%	$184.4M	$217.5M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps WTIUSD	−0.0065%	1h	92.935	+0.037%	$2K	$27K	5x	as long as short
Extended WTI-USD	−0.0064%	1h	92.950	+0.054%	$2.1M	$22.2M	10x	as long as short
edgeX CLUSDC	−0.0064%	4h	92.914	+0.015%	$529K	$301K	30x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.161%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	92.890	−0.011%	$2.5M	$1.7M	10x	as long as short
Bitget CLUSDT	−0.0002%	4h	92.897	−0.003%	$42.1M	$43.4M	100x	as long as short
Lighter WTI	0.0000%	1h	92.904	+0.004%	$11.2M	$10.5M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.937	+0.039%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.920	+0.022%	$26.5M	$80.8M	150x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.950	+0.054%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.918	+0.020%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.473	−0.460%	$5K	—	150x	as long as short
KuCoin CLUSDTM	+0.0010%	4h	92.897	−0.003%	$7.3M	$2.3M	50x	as long as short
Paradex CL-USD-PERP	+0.0011%	8h	92.918	+0.019%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	92.890	−0.011%	$733K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.940	+0.043%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.917	+0.018%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.911	+0.012%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	93.004	+0.112%	$3.1M	$2.9M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.924	+0.026%	$331K	$619K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.960	+0.065%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.882	−0.020%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.932	+0.034%	$273K	$872K	25x	as long as short
BloFin CL-USDT	+0.0164%	4h	92.910	+0.011%	$4.1M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.905	+0.005%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.10	+9.901%	$19K	$11K	30x	as long as short