Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0022%/8h= −2.5% APRpaid last 24h +0.001%

Price spread now: Coinbase International against Paradex−0.470%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Coinbase International

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 airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Coinbase International is 0.470% cheaper against Paradex than usual: you would sell low and buy high (−$47 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CL-USD-PERP	92.464	−0.0018	get 0.0018% / 8h	7h 35m	$15K	$367	5x
Short	Coinbase International WTIOIL-PERP-INTX	92.030	−0.0040	pay 0.0005% / 1h	35m 55s	$399K	$960K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Paradex. 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 ParadexbpFee Coinbase InternationalbpOrdersPrice spread, now −0.470%Rate

Funding earned: −$4.71
Price spread: −0.470% → 0.000%: −$46.98
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$65.69
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Coinbase International: live order book, 12 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 Paradex no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 12 min ago	1.63 bp	6.6 bp −$7	9.3 bp −$93	doesn't fit	doesn't fit

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
GRVT CL_USDT_Perp	−0.0364%	4h	92.380	−0.091%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0324%	4h	92.486	+0.024%	$24.0M	$81.1M	20x	as long as short
Binance CLUSDT	−0.0262%	4h	92.480	+0.017%	$245.1M	$1.08B	100x	as long as short
Variational Omni CL	−0.0254%	4h	92.451	−0.015%	$13.2M	$12.2M	—	as long as short
Gate CL_USDT	−0.0217%	8h	92.410	−0.059%	$21.3M	$54.8M	100x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.495	+0.033%	$274K	$1.1M	25x	as long as short
Nado WTI-PERP	−0.0091%	1h	92.518	+0.057%	$932K	$732K	10x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0074%	1h	92.480	+0.017%	$96K	$189K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0051%	1h	92.450	−0.016%	$3.5M	$6.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTXshort	−0.0040%	1h	92.030	−0.470%	$399K	$960K	15x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0040%	1h	92.450	−0.016%	$2.4M	$2.1M	10x	as long as short
tradeXYZ xyz:CL	−0.0026%	1h	92.486	+0.023%	$186.6M	$256.5M	20x	as long as short
Paradex CL-USD-PERPlong	−0.0018%	8h	92.464	long leg	$15K	$367	5x
Lighter WTI	0.0000%	1h	92.480	+0.017%	$11.2M	$10.1M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.483	+0.020%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.491	+0.029%	$26.1M	$92.7M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.440	−0.026%	$42.9M	$111.0M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.599	+0.146%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.482	+0.019%	$42.1M	$50.9M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.530	+0.071%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.465	+0.001%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.025	−0.475%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	92.510	+0.049%	$2.3M	$27.3M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.420	−0.048%	$723K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.500	+0.038%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.474	+0.010%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.470	+0.006%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0096%	4h	92.401	−0.069%	$531K	$299K	30x	as long as short
Pacifica CL	+0.0100%	1h	92.477	+0.014%	$354K	$596K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.496	+0.034%	$7.2M	$2.3M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.470	+0.006%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.435	−0.032%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.465	+0.001%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.56	+9.833%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.400	−0.070%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0305%	1h	92.413	−0.055%	$2K	$28K	5x	as long as short