Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0057%/8h= +6.3% APRpaid last 24h +0.008%

Price spread now: Paradex against QFEX−0.035%54s7-day average — · you buy dearer than you sell

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

Long on QFEX 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 airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.035% cheaper against QFEX than usual: you would sell low and buy high (spread −0.035% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 2.0 days of funding at the current rate (+$2 a day). The two prices were read 54 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	QFEX CL-USD	93.040	−0.0043	get 0.0005% / 1h	17m 47s	$2.4M	$1.7M	10x
Short	Paradex CL-USD-PERP	93.007	0.0014	get 0.0014% / 8h	4h 17m	$16K	$367	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against QFEX. 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 QFEXbpFee ParadexbpOrdersPrice spread, now −0.035%Rate

Funding earned: $11.99
Price spread: −0.035% → 0.000%: −$3.5
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$5.51
Costs to cover: 0.140%
Break-even: 10.2 days

Slippage unknown: QFEX: live order book, 5 min ago; 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 QFEX live order book, 5 min ago	2.15 bp	7.1 bp −$7	7.1 bp −$71	8.9 bp −$893	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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	−0.0287%	1h	93.030	−0.011%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0262%	4h	93.050	+0.011%	$24.0M	$66.7M	20x	as long as short
GRVT CL_USDT_Perp	−0.0242%	4h	93.067	+0.030%	$64K	$648K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0196%	1h	93.070	+0.032%	$274K	$872K	25x	as long as short
Binance CLUSDT	−0.0185%	4h	93.030	−0.011%	$244.8M	$947.2M	100x	as long as short
Variational Omni CL	−0.0178%	4h	93.048	+0.008%	$13.5M	$10.9M	—	as long as short
Bitget CLUSDT	−0.0116%	4h	92.999	−0.044%	$41.9M	$43.7M	100x	as long as short
tradeXYZ xyz:CL	−0.0108%	1h	93.012	−0.030%	$184.5M	$214.4M	20x	as long as short
Aftermath Perps WTIUSD	−0.0100%	1h	93.039	−0.002%	$2K	$27K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0086%	1h	92.970	−0.075%	$3.5M	$5.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAP	−0.0055%	4h	93.030	−0.011%	$42.5M	$102.6M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.312%	$402K	$944K	15x	as long as short
Gate CL_USDT	−0.0046%	8h	92.970	−0.075%	$20.8M	$52.0M	100x	as long as short
QFEX CL-USDlong	−0.0043%	1h	93.040	long leg	$2.4M	$1.7M	10x
Nado WTI-PERP	−0.0028%	1h	93.089	+0.053%	$962K	$649K	10x	as long as short
edgeX CLUSDC	−0.0026%	4h	93.074	+0.036%	$530K	$300K	30x	as long as short
KuCoin CLUSDTM	−0.0022%	4h	93.049	+0.010%	$7.1M	$2.4M	50x	as long as short
Lighter WTI	0.0000%	1h	93.019	−0.023%	$11.2M	$10.6M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.113	+0.079%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.030	−0.011%	$26.7M	$80.2M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.114	+0.080%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.090	+0.054%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.044	+0.004%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.599	−0.474%	$5K	—	150x	as long as short
Paradex CL-USD-PERPshort	+0.0014%	8h	93.007	−0.035%	$16K	$367	5x
Extended WTI-USD	+0.0032%	1h	93.070	+0.032%	$2.0M	$20.5M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.030	−0.011%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.050	+0.011%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.040	0.000%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.032	−0.009%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0068%	1h	93.023	−0.019%	$330K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.020	−0.021%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.012	−0.030%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0183%	4h	93.070	+0.032%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0215% / S −0.0142%	1h	93.035	−0.005%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.19	+9.830%	$19K	$11K	30x	as long as short