CL

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	PhoenixWTIOIL	101.51	−0.0071	get 0.0009% / 1h	53m 24s	$345K	$15K	20x	Long Phoenix
SHORT	OrderlyPERP_CL_USDC	101.35	+0.0100	get 0.0050% / 4h	1h 53m	$231K	$66K	20x	Short Orderly

Price gap−0.158%

Funding gap+0.0171% /8h

Funding pays +$5 a day on $10k, but the gap is 0.115% under its 7d average: −$11 if it goes back, about 2.2 days of funding.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding+$27+0.0171% /8h now · paid +0.268% over the last 7D

Price−$11spread −0.158% now, avg −0.043% → −0.115% if it goes back

Costsno datano order book for Orderly

Result, before costs+$15+0.15%no pointscosts unknown: no order book for Orderly · What the last 7D really paid, hour by hour → backtest

Price and funding

1h · history

Entry / Exit

Price spread

Prices

Fundingper 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now−0.158%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

CL on 46 exchanges

lowest funding first

Before you open

1 ok · 3 to watch

Note: Order book unknown—
No order-book sample for Orderly: its slippage is not counted.
Note: Margin at max leverage$500 + $500
Phoenix 20x, Orderly 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
Watch: Payment intervals differ1h / 4h
Payments land at different times. Close right after the slower leg pays.
Next 24h at the current rates, on $10k a leg: +$5.13Long Phoenix: 24 payments, +$2.13; short Orderly: 6 payments, +$3.00.
Watch: Gap narrower than usual−0.158% vs −0.043%
Less room for the price leg to pay you. If it goes back to average, the short loses.
Watch: Short leg is thinner$231K vs $345K OI
Orderly sets your exit cost. Check its book before closing.
Note: No points program—
Neither exchange runs points right now.
OK: No KYC on either legPhoenix No · Orderly No
Both exchanges let you trade without ID.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned+0.0128%/8h × 21 periods+$26.78

Price spread−0.158% → −0.043% (7d avg)−$11.49

Slippage, 4 ordersno data for Orderly—

Fee Phoenix bp × 2 orders−$7.00

Fee Orderly bp × 2 orders−$6.00

Net, fees only · 7 days · $10k+$2.29

Costs to cover0.130%Break-even6.4 days

Slippage: Phoenix: live order book, 53 min ago; Orderly: no order-book sample

Cost to enter

taker + slippage from mid, one side

BUY · LONGPhoenix2.949.3 bp−$917.2 bp−$172229.1 bp−$22.9Kdoesn’t fit

SELL · SHORTOrderly—————

Closing costs about the same again.
Orderly: no data.

CL news

posts that mention CL or Crude oil (WTI), from every exchangeSearch all news →

10-23 19:28	Markets by Kinetiq	Other	WTI Crude Oil is back above $100, up 6% this week. Houthi strikes on Saudi Arabia are escalating, ship attacks near Hormuz just hit a record month, and US crude stocks have fallen three weeks straight. @Markets_xyz on X ↗
10-23 10:17	SoDEX	Other	🛢️ $CL: Will Oil Keep Rising? 🔥 Middle East tensions are heating up! Where will oil prices head next? 👀 ✅ Vote below ✅ Share your $CL position ✅ Comment your prediction! 📊 POLL: Where will $CL be by Dec 31, 2026? @sodex_official on X ↗
10-22 15:08	BingX	Other	When commodities make headlines, depth matters 📊 Trade GOLD, WTI, BRENT, and SILVER perpetuals with deeper order books on #BingXTradFi. Up to 5.1x the depth vs No.2 (GOLD-USDT, 100 bps). See the breakdown 👇 @BingXOfficial on X ↗
10-20 08:13	ApeX Omni	Other	Oil cracked. WTI -4.7% is the biggest move on the tape. bitcoin:native $81,703 -1.3%, ethereum:native $2,395 -1.5%, while $NDAQ added 1.1%. $527M went into spot bitcoin ETFs, the best day since September, with IBIT alone taking $665M. Fear and greed 55. @OfficialApeXdex on X ↗
10-19 19:35	BingX	Other	Brent topped $110, WTI broke $100, and diesel hit records as Hormuz attacks escalate. Energy rallied while the Nasdaq fell 4.5%. Oil is back driving inflation and rate fears 🛢️ @BingXOfficial on X ↗
10-19 10:35	Phemex	Other	WTI just printed below $97 while Brent holds ~$108. Oil’s pullback after Friday’s spike is more technical + Russia supply hope than a clean demand collapse. For crypto traders, lower energy costs can ease inflation pressure — but geopolitics still keep the floor elevated. Execution quality matters more than the narrative when macro signals flip. @Phemex_official on X ↗

CL