Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h −0.010%

Price spread now: Aster against Phoenix−0.003%55s7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.159%−$16 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: $0 a day on $10k at the current rate. The two prices were read 55 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	Phoenix WTIOIL	91.820	0.0009	pay 0.0001% / 1h	42m 32s	$33K	$99K	20x
Short	Aster CLUSD1	91.817	−0.0001	pay 0.0001% / 4h	1h 42m	$23.9M	$78.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Phoenix. 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 PhoenixbpFee AsterbpOrdersPrice spread, now −0.003%Rate

Funding earned: −$2.11
Price spread: −0.003% → 0.000%: −$0.29
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$17.4
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Aster: live order book, 2 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 Phoenix no order-book sample	—	—	—	—	—
Sell Aster live order book, 2 min ago	0.55 bp	5.3 bp −$5	6.6 bp −$66	doesn't fit	doesn't fit

Phoenix: 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
Lighter WTI	−0.0328%	1h	91.784	−0.039%	$11.0M	$11.2M	20x	as long as short
ApeX Omni CLUSDT	−0.0314%	1h	91.820	0.000%	$55K	$266K	50x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0294%	1h	91.800	−0.022%	$95K	$260K	15x	as long as short
Nado WTI-PERP	−0.0218%	1h	91.871	+0.055%	$908K	$754K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0206%	1h	91.770	−0.054%	$3.5M	$6.4M	20x	as long as short
tradeXYZ xyz:CL	−0.0195%	1h	91.817	−0.003%	$184.9M	$285.7M	20x	as long as short
Bullet WTIOIL-USD	−0.0163%	1h	91.783	−0.040%	$19K	$240K	10x	as long as short
Aftermath Perps WTIUSD	−0.0163%	1h	91.775	−0.049%	$2K	$30K	5x	as long as short
Paradex CL-USD-PERP	−0.0084%	8h	91.792	−0.030%	$15K	$367	5x	as long as short
Extended WTI-USD	−0.0040%	1h	91.880	+0.065%	$2.0M	$29.2M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps WTIOIL-USD	−0.0027%	1h	91.811	−0.010%	$1.6M	$1.4M	20x	as long as short
Aster CLUSD1short	−0.0001%	4h	91.817	−0.003%	$23.9M	$78.6M	20x
dYdX WTI-USD	0.0000%	1h	91.787	−0.036%	$8K	$3K	5x	as long as short
Binance CLUSDT	0.0000%	4h	91.800	−0.022%	$245.2M	$1.13B	100x	as long as short
Bybit CLUSDT	0.0000%	8h	91.830	+0.011%	$25.3M	$98.0M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	91.800	−0.022%	$43.0M	$114.4M	50x	as long as short
QFEX CL-USD	0.0000%	1h	91.780	−0.044%	$2.4M	$2.5M	10x	as long as short
Gate CL_USDT	0.0000%	8h	91.750	−0.076%	$21.2M	$58.9M	100x	as long as short
Bitget CLUSDT	0.0000%	4h	91.801	−0.021%	$42.0M	$62.1M	100x	as long as short
Variational Omni CL	0.0000%	4h	91.756	−0.069%	$13.4M	$14.5M	—	as long as short
GRVT CL_USDT_Perp	0.0000%	4h	91.751	−0.075%	$58K	$734K	25x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.379	−0.480%	$40K	—	10x	as long as short
Phoenix WTIOILlong	+0.0009%	1h	91.820	long leg	$33K	$99K	20x
StandX CL-USD	+0.0040%	1h	91.760	−0.065%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	91.900	+0.087%	—	$243K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	91.795	−0.027%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0089%	4h	91.787	−0.036%	$528K	$343K	30x	as long as short
Pacifica CL	+0.0100%	1h	91.810	−0.011%	$332K	$572K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	91.812	−0.009%	$7.3M	$2.0M	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.762	−0.063%	$4K	—	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0112%	1h	91.720	−0.109%	$384K	$1.2M	15x	as long as short
Injective WTI/USDC PERP	+0.0172%	1h	101.08	+10.083%	$19K	$18K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	91.775	−0.049%	$76K	—	29x	as long as short
BloFin CL-USDT	+0.0240%	4h	91.780	−0.044%	$4.0M	$1.5M	50x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0451%	1h	91.796	−0.026%	$256K	$1.2M	25x	as long as short
RISEx CL/USDC	+0.0977%	1h	91.909	+0.097%	$3.2M	$2.7M	20x	as long as short