Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0245%/8h= −26.8% APRpaid last 24h −0.030%

Price spread now: Variational Omni against SoDEX−0.052%7-day average −0.002% · you buy dearer than you sell

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

Long on SoDEX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.077%−$8 on $10k

Price spread, last 4 days (all we have)+0.350%+$35 · spread now −0.052%, 7d avg −0.002%

Together, before fees+0.273%+ Points / potential airdropVariational Omni: Active · farm board+$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Variational Omni is 0.050% cheaper against SoDEX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.002%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.077% in total (about -8.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX CL-USD	92.905	0.0050	pay 0.0006% / 1h	12m 42s	$2.1M	$61K	20x
Short	Variational Omni CL	92.857	−0.0195	pay 0.0097% / 4h	1h 12m	$13.5M	$11.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.052%Rate

Funding earned: −$51.38
Price spread: −0.052% → −0.002%: −$5.02
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$64.4
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: SoDEX: live order book, 1 min ago; Variational Omni: RFQ quote, 1 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 SoDEX live order book, 1 min ago	0.54 bp	19.7 bp −$20	85.0 bp −$850	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	2.26 bp	doesn't fit	2.6 bp −$26	6.7 bp −$669	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
Deribit WTIOIL_USDC-PERPETUAL	−0.0718%	1h	92.880	−0.027%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0257%	4h	92.895	−0.010%	$24.0M	$67.9M	20x	as long as short
GRVT CL_USDT_Perp	−0.0238%	4h	92.910	+0.005%	$53K	$635K	25x	as long as short
Binance CLUSDT	−0.0205%	4h	92.895	−0.011%	$244.7M	$952.3M	100x	as long as short
Variational Omni CLshort	−0.0195%	4h	92.857	−0.052%	$13.5M	$11.2M	—
Ondo Perps WTI-USD.P	−0.0162%	1h	92.860	−0.048%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0155%	1h	92.980	+0.080%	$961K	$658K	10x	as long as short
OKX CL-USDT-SWAP	−0.0075%	4h	92.890	−0.016%	$42.9M	$102.0M	50x	as long as short
Gate CL_USDT	−0.0071%	8h	92.840	−0.070%	$20.9M	$53.0M	100x	as long as short
tradeXYZ xyz:CL	−0.0071%	1h	92.891	−0.015%	$184.4M	$217.5M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended WTI-USD	−0.0064%	1h	92.940	+0.038%	$2.1M	$22.3M	10x	as long as short
Aftermath Perps WTIUSD	−0.0063%	1h	92.897	−0.009%	$2K	$27K	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.167%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	92.890	−0.016%	$2.5M	$1.7M	10x	as long as short
edgeX CLUSDC	−0.0015%	4h	92.902	−0.004%	$529K	$303K	30x	as long as short
Lighter WTI	0.0000%	1h	92.901	−0.004%	$11.2M	$10.5M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.937	+0.034%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.901	−0.004%	$26.5M	$81.0M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.884	−0.023%	$42.1M	$43.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.950	+0.048%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.918	+0.014%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.499	−0.437%	$5K	—	150x	as long as short
KuCoin CLUSDTM	+0.0010%	4h	92.877	−0.030%	$7.3M	$2.3M	50x	as long as short
Paradex CL-USD-PERP	+0.0011%	8h	92.889	−0.018%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	92.870	−0.038%	$732K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.940	+0.038%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.926	+0.023%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USDlong	+0.0050%	1h	92.905	long leg	$2.1M	$61K	20x
RISEx CL/USDC	+0.0066%	1h	92.988	+0.089%	$3.1M	$2.9M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.893	−0.013%	$331K	$619K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.970	+0.070%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.874	−0.033%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.939	+0.037%	$274K	$872K	25x	as long as short
BloFin CL-USDT	+0.0168%	4h	92.900	−0.005%	$4.1M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.915	+0.011%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.10	+9.895%	$19K	$11K	30x	as long as short