Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.012%

Price spread now: Variational Omni against Nado−0.056%7-day average −0.014% · you buy dearer than you sell

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

Long on Nado Short on Variational Omni

What this pair did over the last

the charts below follow

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

Price spread, last 7 days+0.076%+$8 · spread now −0.056%, 7d avg −0.014%

Together, before fees+0.118%+ Points / potential airdropNado: Active · Variational Omni: Active · farm board+$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.042% cheaper against Nado than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado WTI-PERP	93.021	−0.0118	get 0.0015% / 1h	51m 19s	$951K	$612K	10x
Short	Variational Omni CL	92.970	−0.0122	pay 0.0061% / 4h	3h 51m	$13.5M	$10.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.056%Rate

Funding earned: −$0.79
Price spread: −0.056% → −0.014%: −$4.19
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$11.98
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Nado: live order book, 47 min ago; Variational Omni: RFQ quote, 3 min ago. 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 Nado live order book, 47 min ago	0.48 bp	5.4 bp −$5	10.9 bp −$109	32.6 bp −$3,264	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.27 bp	doesn't fit	2.5 bp −$25	6.1 bp −$607	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	−0.0610%	1h	92.920	−0.109%	$188K	$407K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0313%	1h	92.969	−0.056%	$271K	$930K	25x	as long as short
GRVT CL_USDT_Perp	−0.0290%	4h	92.887	−0.145%	$74K	$614K	25x	as long as short
Aster CLUSD1	−0.0245%	4h	92.960	−0.066%	$24.7M	$61.5M	20x	as long as short
Gate CL_USDT	−0.0226%	8h	92.870	−0.163%	$23.3M	$48.7M	100x	as long as short
Binance CLUSDT	−0.0138%	4h	92.940	−0.087%	$245.9M	$929.5M	100x	as long as short
Variational Omni CLshort	−0.0122%	4h	92.970	−0.056%	$13.5M	$10.7M	—
Nado WTI-PERPlong	−0.0118%	1h	93.021	long leg	$951K	$612K	10x
Bitget CLUSDT	−0.0094%	4h	92.944	−0.083%	$42.0M	$41.7M	100x	as long as short
tradeXYZ xyz:CL	−0.0079%	1h	92.939	−0.088%	$184.1M	$195.7M	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	−0.0079%	1h	93.008	−0.014%	$1K	$26K	5x	as long as short
OKX CL-USDT-SWAP	−0.0063%	4h	92.940	−0.087%	$42.5M	$103.2M	50x	as long as short
Ondo Perps WTI-USD.P	−0.0050%	1h	92.930	−0.098%	$3.6M	$5.3M	20x	as long as short
edgeX CLUSDC	−0.0044%	4h	92.888	−0.144%	$542K	$342K	30x	as long as short
QFEX CL-USD	−0.0026%	1h	92.930	−0.098%	$2.3M	$2.5M	10x	as long as short
Bybit CLUSDT	−0.0009%	8h	92.960	−0.066%	$27.0M	$80.5M	150x	as long as short
dYdX WTI-USD	0.0000%	1h	92.953	−0.073%	$8K	$3K	5x	as long as short
RISEx CL/USDC	0.0000%	1h	92.997	−0.026%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.934	−0.094%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.520	−0.539%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0007%	8h	92.905	−0.125%	$16K	$367	5x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.910	−0.120%	$37K	$39K	20x	as long as short
Lighter WTI	+0.0016%	1h	92.950	−0.077%	$11.3M	$8.6M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	93.160	+0.149%	$404K	$808K	15x	as long as short
Extended WTI-USD	+0.0032%	1h	92.980	−0.044%	$1.7M	$14.9M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.920	−0.109%	$732K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.950	−0.077%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.944	−0.083%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.949	−0.078%	$2.1M	$62K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.959	−0.067%	$346K	$587K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.985	−0.039%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.940	−0.087%	$54K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.917	−0.112%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0166% / S 0.0000%	1h	92.935	−0.093%	$85K	—	111x	as long as short
BloFin CL-USDT	+0.0175%	4h	92.940	−0.087%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.796%	$19K	$5K	30x	as long as short