CL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0255%/8h= −27.9% APRnext payment −$0.32 per $10,000 · paid last 24h −0.011%

Price spread now: Deribit against Nado−0.074%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

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

Long on Nado Short on Deribit

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 4 days (all we have)−0.163%−$16 · spread now −0.074%, 7d avg −0.018%

Together, before fees−0.111%+ Points / potential airdropNado: Active · farm board−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Deribit is 0.056% cheaper against Nado than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.018%). Swap the legs. 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.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.052% in total (about 5.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.32 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado WTI-PERP	93.129	−0.0032	get 0.0004% / 1h	22m 40s	$963K	$650K	10x
Short	Deribit WTIOIL_USDC-PERPETUAL	93.060	−0.0287	pay 0.0036% / 1h	22m 40s	$199K	$370K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.074%Rate

Funding earned: −$53.57
Price spread: −0.074% → −0.018%: −$5.65
Slippage, 4 orders: −$5.45
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$78.67
Costs to cover: 0.194%
Break-even: never at this rate

Slippage from Nado: live order book, 36 min ago; Deribit: live order book, 36 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, 36 min ago	0.05 bp	3.9 bp −$4	6.6 bp −$66	26.8 bp −$2,683	doesn't fit
Sell Deribit live order book, 36 min ago	0.54 bp	6.2 bp −$6	7.5 bp −$75	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
Deribit WTIOIL_USDC-PERPETUALshort	−0.0287%	1h	93.060	−0.074%	$199K	$370K	15x
Aster CLUSD1	−0.0261%	4h	93.062	−0.072%	$24.0M	$66.9M	20x	as long as short
GRVT CL_USDT_Perp	−0.0244%	4h	93.060	−0.074%	$64K	$648K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0196%	1h	93.107	−0.024%	$274K	$872K	25x	as long as short
Binance CLUSDT	−0.0188%	4h	93.064	−0.070%	$244.9M	$947.6M	100x	as long as short
Variational Omni CL	−0.0182%	4h	93.038	−0.098%	$13.5M	$10.9M	—	as long as short
Bitget CLUSDT	−0.0110%	4h	93.051	−0.084%	$41.9M	$43.7M	100x	as long as short
tradeXYZ xyz:CL	−0.0108%	1h	93.046	−0.089%	$184.6M	$214.3M	20x	as long as short
Aftermath Perps WTIUSD	−0.0101%	1h	93.094	−0.038%	$2K	$27K	5x	as long as short
edgeX CLUSDC	−0.0099%	4h	93.059	−0.075%	$530K	$300K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps WTI-USD.P	−0.0094%	1h	93.030	−0.106%	$3.5M	$5.4M	20x	as long as short
OKX CL-USDT-SWAP	−0.0060%	4h	93.060	−0.074%	$42.6M	$102.7M	50x	as long as short
Gate CL_USDT	−0.0049%	8h	93.000	−0.139%	$20.8M	$51.9M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.407%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0043%	1h	93.050	−0.085%	$2.4M	$1.7M	10x	as long as short
Nado WTI-PERPlong	−0.0032%	1h	93.129	long leg	$963K	$650K	10x
KuCoin CLUSDTM	−0.0020%	4h	93.075	−0.058%	$7.1M	$2.4M	50x	as long as short
Lighter WTI	0.0000%	1h	93.046	−0.089%	$11.2M	$10.6M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.113	−0.017%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.050	−0.085%	$26.7M	$80.4M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.127	−0.002%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.120	−0.010%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.083	−0.050%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.638	−0.527%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0014%	8h	93.034	−0.102%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0016%	1h	93.090	−0.042%	$2.0M	$20.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.110	−0.021%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.100	−0.031%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.086	−0.046%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.080	−0.053%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0068%	1h	93.064	−0.070%	$330K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.060	−0.074%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.055	−0.079%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0177%	4h	93.100	−0.031%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0215% / S −0.0142%	1h	93.085	−0.047%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.19	+9.725%	$19K	$11K	30x	as long as short