Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0177%/8h= −19.4% APRpaid last 24h +0.009%

Price spread now: Aster against Nado+0.030%7-day average +0.028% · 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−$19as in the Price arb table

costs, in and out, $10k−$190.194% of the position

Long on Nado Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.052%+$5 on $10k

Price spread, last 7 days+0.013%+$1 · spread now +0.030%, 7d avg +0.028%

Together, before fees+0.065%+ Points / potential airdropNado: Active · Aster: Stage 5 · farm board+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.028%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.052%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado WTI-PERP	91.985	0.0177	pay 0.0022% / 1h	28m 45s	$879K	$792K	10x
Short	Aster CLUSD1	92.013	0	get 0.0000% / 4h	2h 28m	$24.5M	$76.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Nado. 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 NadobpFee AsterbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$37.12
Price spread: +0.030% → +0.028%: $0.2
Slippage, 4 orders: −$4.37
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$56.3
Costs to cover: 0.194%
Break-even: never at this rate

Slippage from Nado: live order book, 59 min ago; Aster: live order book, 5 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 Nado live order book, 59 min ago	0.05 bp	5.1 bp −$5	10.1 bp −$101	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	0.54 bp	4.5 bp −$5	5.0 bp −$50	doesn't fit	doesn't fit

CL on 35 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
QFEX CL-USD	−0.0019%	1h	91.970	−0.016%	$2.4M	$2.9M	10x	as long as short
Aster CLUSD1short	0.0000%	4h	92.013	+0.030%	$24.5M	$76.8M	20x
dYdX WTI-USD	0.0000%	1h	91.992	+0.008%	$8K	$3K	5x	as long as short
Binance CLUSDT	0.0000%	4h	91.990	+0.006%	$246.6M	$1.14B	100x	as long as short
Bybit CLUSDT	0.0000%	8h	91.980	−0.005%	$25.4M	$100.3M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	91.970	−0.016%	$43.1M	$117.1M	50x	as long as short
Gate CL_USDT	0.0000%	8h	91.900	−0.092%	$21.2M	$63.0M	100x	as long as short
Bitget CLUSDT	0.0000%	4h	91.966	−0.021%	$42.2M	$69.4M	100x	as long as short
Variational Omni CL	0.0000%	4h	92.001	+0.017%	$13.6M	$16.2M	—	as long as short
GRVT CL_USDT_Perp	0.0000%	4h	91.980	−0.005%	$58K	$782K	25x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit WTIOIL_USDC-PERPETUAL	0.0000%	1h	91.990	+0.006%	$95K	$315K	15x	as long as short
Aftermath Perps WTIUSD	0.0000%	1h	91.978	−0.008%	$2K	$31K	5x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.000	+0.016%	$33K	$99K	20x	as long as short
Lighter WTI	+0.0032%	1h	91.941	−0.048%	$11.0M	$12.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.023	+0.041%	$2.0M	$29.8M	10x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	92.044	+0.064%	$17K	$18K	30x	as long as short
edgeX CLUSDC	+0.0034%	4h	91.967	−0.020%	$529K	$343K	30x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0040%	1h	91.997	+0.013%	$258K	$1.4M	25x	as long as short
StandX CL-USD	+0.0040%	1h	91.990	+0.006%	$726K	$3.0M	40x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0040%	1h	92.080	+0.103%	$393K	$1.3M	15x	as long as short
Vest CL-PERP	+0.0046%	1h	92.020	+0.038%	—	$243K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	91.966	−0.021%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	91.975	−0.011%	$2.0M	$42K	20x	as long as short
Ondo Perps WTI-USD.P	+0.0050%	1h	91.930	−0.060%	$3.5M	$6.5M	20x	as long as short
Bullet WTIOIL-USD	+0.0061%	1h	91.974	−0.011%	$18K	$241K	10x	as long as short
Pacifica CL	+0.0100%	1h	91.980	−0.005%	$332K	$573K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	91.965	−0.022%	$7.4M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.070	+0.093%	$55K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.957	−0.030%	$4K	$49	10x	as long as short
Paradex CL-USD-PERP	+0.0105%	8h	91.940	−0.049%	$15K	$367	5x	as long as short
tradeXYZ xyz:CL	+0.0131%	1h	91.979	−0.006%	$182.4M	$296.3M	20x	as long as short
Nado WTI-PERPlong	+0.0177%	1h	91.985	long leg	$879K	$792K	10x
GMX WTIOIL/USD [ETH-USDC]	L +0.0212% / S −0.0127%	1h	91.975	−0.011%	$76K	—	111x	as long as short
BloFin CL-USDT	+0.0240%	4h	91.960	−0.027%	$4.0M	$1.5M	50x	as long as short
RISEx CL/USDC	+0.0266%	1h	92.108	+0.133%	$3.2M	$2.7M	20x	as long as short