Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0167%/8h= −18.3% APRpaid last 24h −0.048%

Price spread now: Binance against SoDEX−0.150%7-day average +0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$480.482% of the position

Long on SoDEX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.093%−$9 on $10k

Price spread, last 4 days (all we have)+0.263%+$26 · spread now −0.150%, 7d avg +0.047%

Together, before fees+0.170%+$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Binance is 0.197% cheaper against SoDEX than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of +0.047%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX CL-USD	90.696	0.0050	pay 0.0006% / 1h	57m 54s	$2.0M	$82K	20x
Short	Binance CLUSDT	90.560	−0.0117	pay 0.0059% / 4h	2h 57m	$245.0M	$1.04B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against SoDEX. 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 SoDEXbpFee BinancebpOrdersPrice spread, now −0.150%Rate

Funding earned: −$35.18
Price spread: −0.150% → +0.047%: −$19.73
Slippage, 4 orders: −$30.24
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$103.14
Costs to cover: 0.482%
Break-even: never at this rate

Slippage from SoDEX: live order book, 1 min ago; Binance: live order book, 16 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 SoDEX live order book, 1 min ago	0.55 bp	18.1 bp −$18	89.1 bp −$891	doesn't fit	doesn't fit
Sell Binance live order book, 16 min ago	0.55 bp	5.5 bp −$6	5.9 bp −$59	11.0 bp −$1,104	27.4 bp −$13.7K

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
Kraken Futures PF_WTIOILUSD	−0.0364%	1h	90.740	+0.048%	$271K	$1.0M	25x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0301%	1h	90.670	−0.029%	$181K	$415K	15x	as long as short
Aster CLUSD1	−0.0196%	4h	90.616	−0.088%	$24.5M	$61.4M	20x	as long as short
Binance CLUSDTshort	−0.0117%	4h	90.560	−0.150%	$245.0M	$1.04B	100x
Variational Omni CL	−0.0100%	4h	90.468	−0.251%	$13.0M	$11.0M	—	as long as short
Bitget CLUSDT	−0.0096%	4h	90.553	−0.158%	$40.8M	$45.8M	100x	as long as short
Gate CL_USDT	−0.0091%	8h	90.530	−0.183%	$23.0M	$50.5M	100x	as long as short
GRVT CL_USDT_Perp	−0.0066%	4h	90.468	−0.252%	$70K	$616K	25x	as long as short
edgeX CLUSDC	−0.0062%	4h	90.306	−0.430%	$518K	$352K	30x	as long as short
Nado WTI-PERP	−0.0056%	1h	90.748	+0.057%	$940K	$613K	10x	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	−0.0043%	4h	90.560	−0.150%	$41.1M	$111.0M	50x	as long as short
Aftermath Perps WTIUSD	−0.0033%	1h	90.629	−0.074%	$1K	$27K	5x	as long as short
QFEX CL-USD	−0.0023%	1h	90.650	−0.051%	$2.2M	$2.9M	10x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	89.952	−0.820%	$1K	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	90.836	+0.155%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	90.593	−0.114%	$26.4M	$91.1M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	90.705	+0.010%	$2.9M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	90.654	−0.046%	$18K	$238K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0008%	1h	90.590	−0.117%	$408K	$1.0M	15x	as long as short
Phoenix WTIOIL	+0.0009%	1h	90.470	−0.249%	$36K	$36K	20x	as long as short
tradeXYZ xyz:CL	+0.0013%	1h	90.666	−0.033%	$176.5M	$206.4M	20x	as long as short
Paradex CL-USD-PERP	+0.0017%	8h	90.750	+0.059%	$15K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	90.690	−0.007%	$11.0M	$8.9M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	90.700	+0.004%	$1.6M	$13.7M	10x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	102.13	+12.611%	$19K	$5K	30x	as long as short
StandX CL-USD	+0.0040%	1h	90.540	−0.172%	$704K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	90.640	−0.062%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	90.669	−0.030%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USDlong	+0.0050%	1h	90.696	long leg	$2.0M	$82K	20x
Ondo Perps WTI-USD.P	+0.0050%	1h	90.650	−0.051%	$3.5M	$5.2M	20x	as long as short
Pacifica CL	+0.0100%	1h	90.793	+0.107%	$335K	$573K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	90.651	−0.050%	$6.9M	$2.8M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	90.490	−0.227%	$53K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	90.658	−0.042%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0192%	4h	90.710	+0.015%	$4.0M	$999K	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0254% / S −0.0184%	1h	90.485	−0.233%	$84K	—	111x	as long as short