CL

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0032%/8h= +3.5% APRnext payment +$0.04 per $10,000 · paid last 24h +0.010%

Price spread now: Extended against Phoenix−0.049%88s7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$250.255% of the position

Long on Phoenix Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 3 days (all we have)−0.009%−$1 · spread now −0.049%, 7d avg −0.042%

Together, before fees+0.011%+ Points / potential airdropExtended: Active · farm board+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.042%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 88 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	92.300	0	get 0.0000% / 1h	57m 57s	$37K	$66K	20x
Short	Extended WTI-USD	92.255	0.0032	get 0.0004% / 1h	57m 57s	$2.0M	$26.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.049%Rate

Funding earned: $6.72
Price spread: −0.049% → −0.042%: −$0.7
Slippage, 4 orders: −$13.46
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$19.44
Costs to cover: 0.255%
Break-even: 27.2 days

Slippage from Phoenix: live order book, 55 min ago; Extended: 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 Phoenix live order book, 55 min ago	2.17 bp	8.9 bp −$9	17.6 bp −$176	doesn't fit	doesn't fit
Sell Extended live order book, 1 min ago	0.32 bp	3.9 bp −$4	7.2 bp −$72	23.0 bp −$2,298	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
GRVT CL_USDT_Perp	−0.0328%	4h	92.193	−0.116%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0300%	4h	92.211	−0.097%	$23.9M	$78.0M	20x	as long as short
Binance CLUSDT	−0.0226%	4h	92.180	−0.130%	$244.3M	$1.08B	100x	as long as short
Variational Omni CL	−0.0206%	4h	92.193	−0.116%	$13.2M	$12.7M	—	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0183%	1h	92.290	−0.011%	$96K	$189K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.291	−0.010%	$273K	$1.2M	25x	as long as short
Nado WTI-PERP	−0.0110%	1h	92.286	−0.016%	$925K	$733K	10x	as long as short
Bybit CLUSDT	−0.0086%	8h	92.190	−0.119%	$26.0M	$94.1M	150x	as long as short
Ondo Perps WTI-USD.P	−0.0040%	1h	92.210	−0.098%	$3.5M	$6.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.293%	$399K	$962K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0040%	1h	92.240	−0.065%	$2.4M	$2.3M	10x	as long as short
Lighter WTI	−0.0032%	1h	92.250	−0.054%	$11.2M	$9.9M	20x	as long as short
Paradex CL-USD-PERP	−0.0029%	8h	92.207	−0.100%	$15K	$367	5x	as long as short
tradeXYZ xyz:CL	−0.0009%	1h	92.278	−0.024%	$186.1M	$267.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.269	−0.034%	$8K	$3K	5x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.170	−0.141%	$42.9M	$111.5M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.367	+0.073%	$3.3M	$2.7M	20x	as long as short
Gate CL_USDT	0.0000%	8h	92.120	−0.195%	$21.3M	$54.0M	100x	as long as short
Bitget CLUSDT	0.0000%	4h	92.213	−0.094%	$42.0M	$51.5M	100x	as long as short
Phoenix WTIOILlong	0.0000%	1h	92.300	long leg	$37K	$66K	20x
Bullet WTIOIL-USD	0.0000%	1h	92.247	−0.057%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.842	−0.496%	$5K	—	150x	as long as short
edgeX CLUSDC	+0.0021%	4h	92.241	−0.064%	$530K	$326K	30x	as long as short
Extended WTI-USDshort	+0.0032%	1h	92.255	−0.049%	$2.0M	$26.6M	10x
StandX CL-USD	+0.0040%	1h	92.230	−0.076%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.290	−0.011%	—	$308K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.264	−0.039%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.270	−0.033%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.229	−0.076%	$353K	$596K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.246	−0.059%	$7.3M	$2.2M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.220	−0.087%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.238	−0.068%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.265	−0.038%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.34	+9.790%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.220	−0.087%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0505%	1h	92.111	−0.205%	$2K	$29K	5x	as long as short