Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0175%/8h= +19.2% APRpaid last 24h +0.004%

Price spread now: Paradex against Ondo Perps+0.045%7-day average — · you sell dearer than you buy

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

Long on Ondo Perps 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 airdropOndo Perps: Active · Paradex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Paradex is 0.045% dearer against Ondo Perps than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps WTI-USD.P	92.940	−0.0166	get 0.0021% / 1h	5m 43s	$3.5M	$5.6M	20x
Short	Paradex CL-USD-PERP	92.982	0.0010	get 0.0010% / 8h	5h 05m	$16K	$367	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Ondo Perps. 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 Ondo PerpsbpFee ParadexbpOrdersPrice spread, now +0.045%Rate

Funding earned: $36.79
Price spread: +0.045% → 0.000%: $4.54
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Paradex: 2 bp × 2 orders: −$4
Net: $32.33
Costs to cover: 0.090%
Break-even: 0.8 days

Slippage unknown: Ondo Perps: 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Ondo Perps 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
Deribit WTIOIL_USDC-PERPETUAL	−0.0610%	1h	92.950	+0.011%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0263%	4h	92.998	+0.063%	$24.0M	$68.0M	20x	as long as short
GRVT CL_USDT_Perp	−0.0246%	4h	92.885	−0.059%	$53K	$635K	25x	as long as short
Binance CLUSDT	−0.0207%	4h	92.990	+0.054%	$244.7M	$952.4M	100x	as long as short
Variational Omni CL	−0.0200%	4h	92.957	+0.018%	$13.5M	$11.2M	—	as long as short
Ondo Perps WTI-USD.Plong	−0.0166%	1h	92.940	long leg	$3.5M	$5.6M	20x
Nado WTI-PERP	−0.0148%	1h	93.029	+0.096%	$961K	$655K	10x	as long as short
OKX CL-USDT-SWAP	−0.0082%	4h	92.990	+0.054%	$42.8M	$102.3M	50x	as long as short
Extended WTI-USD	−0.0080%	1h	93.025	+0.091%	$2.1M	$22.1M	10x	as long as short
tradeXYZ xyz:CL	−0.0074%	1h	92.994	+0.058%	$184.4M	$216.8M	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	−0.0073%	1h	92.955	+0.016%	$2K	$27K	5x	as long as short
Gate CL_USDT	−0.0066%	8h	92.940	0.000%	$20.9M	$53.2M	100x	as long as short
edgeX CLUSDC	−0.0065%	4h	92.900	−0.043%	$529K	$302K	30x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.204%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	92.950	+0.011%	$2.5M	$1.7M	10x	as long as short
Bitget CLUSDT	−0.0024%	4h	92.994	+0.058%	$42.0M	$43.5M	100x	as long as short
Lighter WTI	0.0000%	1h	92.989	+0.053%	$11.2M	$10.6M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.014	+0.079%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.009	+0.074%	$26.6M	$80.9M	150x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.940	0.000%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.980	+0.043%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.549	−0.421%	$5K	—	150x	as long as short
KuCoin CLUSDTM	+0.0006%	4h	92.995	+0.059%	$7.1M	$2.4M	50x	as long as short
Paradex CL-USD-PERPshort	+0.0010%	8h	92.982	+0.045%	$16K	$367	5x
StandX CL-USD	+0.0040%	1h	92.940	0.000%	$733K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.990	+0.054%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.989	+0.053%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.976	+0.039%	$2.1M	$60K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	93.057	+0.126%	$3.1M	$2.9M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.995	+0.059%	$331K	$619K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.960	+0.022%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.944	+0.004%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	93.003	+0.067%	$274K	$872K	25x	as long as short
BloFin CL-USDT	+0.0162%	4h	92.930	−0.011%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.975	+0.038%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.10	+9.854%	$19K	$11K	30x	as long as short