Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0027%/8h= −3.0% APRpaid last 24h +0.017%

Price spread now: OKX against Nado−0.063%49s7-day average +0.016% · 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—prices read too far apart to compare

costs, in and out, $10k−$200.203% of the position

Long on Nado Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.042%+$4 on $10k

Price spread, last 7 days+0.151%+$15 · spread now −0.063%, 7d avg +0.016%

Together, before fees+0.193%+ Points / potential airdropNado: Active · farm board+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.080% cheaper against Nado than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.016%). Swap the legs. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado WTI-PERP	93.089	−0.0028	get 0.0004% / 1h	17m 43s	$962K	$649K	10x
Short	OKX CL-USDT-SWAP	93.030	−0.0055	pay 0.0028% / 4h	17m 43s	$42.5M	$102.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.063%Rate

Funding earned: −$5.7
Price spread: −0.063% → +0.016%: −$7.98
Slippage, 4 orders: −$3.32
Fee Nado: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$33.99
Costs to cover: 0.203%
Break-even: never at this rate

Slippage from Nado: live order book, 41 min ago; OKX: live order book, 1 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, 41 min ago	0.05 bp	3.9 bp −$4	6.6 bp −$66	26.8 bp −$2,683	doesn't fit
Sell OKX live order book, 1 min ago	0.54 bp	5.5 bp −$6	6.3 bp −$63	13.0 bp −$1,301	115.3 bp −$57.7K

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	−0.0287%	1h	93.030	−0.063%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0262%	4h	93.050	−0.042%	$24.0M	$66.7M	20x	as long as short
GRVT CL_USDT_Perp	−0.0242%	4h	93.067	−0.023%	$64K	$648K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0196%	1h	93.070	−0.020%	$274K	$872K	25x	as long as short
Binance CLUSDT	−0.0185%	4h	93.030	−0.063%	$244.8M	$947.2M	100x	as long as short
Variational Omni CL	−0.0178%	4h	93.048	−0.044%	$13.5M	$10.9M	—	as long as short
Bitget CLUSDT	−0.0116%	4h	92.999	−0.097%	$41.9M	$43.7M	100x	as long as short
tradeXYZ xyz:CL	−0.0108%	1h	93.012	−0.083%	$184.5M	$214.4M	20x	as long as short
Aftermath Perps WTIUSD	−0.0100%	1h	93.039	−0.054%	$2K	$27K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0086%	1h	92.970	−0.128%	$3.5M	$5.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAPshort	−0.0055%	4h	93.030	−0.063%	$42.5M	$102.6M	50x
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.364%	$402K	$944K	15x	as long as short
Gate CL_USDT	−0.0046%	8h	92.970	−0.128%	$20.8M	$52.0M	100x	as long as short
QFEX CL-USD	−0.0043%	1h	93.040	−0.053%	$2.4M	$1.7M	10x	as long as short
Nado WTI-PERPlong	−0.0028%	1h	93.089	long leg	$962K	$649K	10x
edgeX CLUSDC	−0.0026%	4h	93.074	−0.017%	$530K	$300K	30x	as long as short
KuCoin CLUSDTM	−0.0022%	4h	93.049	−0.043%	$7.1M	$2.4M	50x	as long as short
Lighter WTI	0.0000%	1h	93.019	−0.075%	$11.2M	$10.6M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.113	+0.026%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.030	−0.063%	$26.7M	$80.2M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.114	+0.027%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.090	+0.001%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.044	−0.049%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.599	−0.526%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0014%	8h	93.007	−0.088%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.070	−0.020%	$2.0M	$20.5M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.030	−0.063%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.050	−0.042%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.040	−0.053%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.032	−0.061%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0068%	1h	93.023	−0.071%	$330K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.020	−0.074%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.012	−0.083%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0183%	4h	93.070	−0.020%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0215% / S −0.0142%	1h	93.035	−0.058%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.19	+9.772%	$19K	$11K	30x	as long as short