Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0237%/8h= −25.9% APRpaid last 24h −0.040%

Price spread now: Paradex against Injective−8.954%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Paradex is 8.954% cheaper against Injective than usual: you would sell low and buy high (−$895 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective WTI/USDC PERP	101.56	0.0220	pay 0.0028% / 1h	34m 57s	$19K	$11K	30x
Short	Paradex CL-USD-PERP	92.463	−0.0017	pay 0.0017% / 8h	7h 34m	$15K	$367	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Injective. 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 InjectivebpFee ParadexbpOrdersPrice spread, now −8.954%Rate

Funding earned: −$49.7
Price spread: −8.954% → 0.000%: −$895.39
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$949.11
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Paradex: no order-book sample. 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 Injective no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Injective and Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0364%	4h	92.380	−9.035%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0325%	4h	92.473	−8.944%	$24.0M	$80.8M	20x	as long as short
Binance CLUSDT	−0.0263%	4h	92.460	−8.957%	$245.2M	$1.08B	100x	as long as short
Variational Omni CL	−0.0254%	4h	92.451	−8.966%	$13.2M	$12.2M	—	as long as short
Gate CL_USDT	−0.0211%	8h	92.400	−9.016%	$21.3M	$54.8M	100x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.500	−8.917%	$274K	$1.1M	25x	as long as short
Nado WTI-PERP	−0.0090%	1h	92.523	−8.894%	$932K	$731K	10x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0074%	1h	92.470	−8.947%	$96K	$189K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0048%	1h	92.420	−8.996%	$3.5M	$6.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−9.380%	$399K	$960K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0040%	1h	92.460	−8.957%	$2.4M	$2.1M	10x	as long as short
tradeXYZ xyz:CL	−0.0026%	1h	92.466	−8.951%	$186.4M	$256.6M	20x	as long as short
Paradex CL-USD-PERPshort	−0.0017%	8h	92.463	−8.954%	$15K	$367	5x
dYdX WTI-USD	0.0000%	1h	92.483	−8.934%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.460	−8.957%	$26.2M	$92.7M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.430	−8.986%	$43.0M	$111.1M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.604	−8.815%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.451	−8.965%	$42.1M	$50.9M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.530	−8.888%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.474	−8.943%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.029	−9.381%	$5K	—	150x	as long as short
Lighter WTI	+0.0008%	1h	92.466	−8.951%	$11.2M	$10.1M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.490	−8.927%	$2.3M	$27.2M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.420	−8.996%	$723K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.500	−8.917%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.485	−8.932%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.464	−8.953%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0096%	4h	92.401	−9.015%	$531K	$299K	30x	as long as short
Pacifica CL	+0.0100%	1h	92.480	−8.937%	$354K	$596K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.481	−8.936%	$7.2M	$2.3M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.550	−8.868%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.442	−8.974%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.475	−8.942%	$78K	—	111x	as long as short
Injective WTI/USDC PERPlong	+0.0220%	1h	101.56	long leg	$19K	$11K	30x
BloFin CL-USDT	+0.0240%	4h	92.400	−9.016%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0297%	1h	92.430	−8.986%	$2K	$28K	5x	as long as short