CL

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0440%/8h= −48.2% APRnext payment −$0.55 per $10,000 · paid last 24h −0.033%

Price spread now: Deribit against tradeXYZ−0.038%7-day average +0.003% · 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−$33as in the Price arb table

costs, in and out, $10k−$290.290% of the position

Long on tradeXYZ Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.036%−$4 on $10k

Price spread, last 4 days (all we have)−0.040%−$4 · spread now −0.038%, 7d avg +0.003%

Together, before fees−0.076%+ Points / potential airdroptradeXYZ: Active · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Deribit is 0.041% cheaper against tradeXYZ than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.003%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.036% in total (about -3.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.55 per $10,000. 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	tradeXYZ xyz:CL	93.606	−0.0057	get 0.0007% / 1h	41m 59s	$185.0M	$210.9M	20x
Short	Deribit WTIOIL_USDC-PERPETUAL	93.570	−0.0498	pay 0.0062% / 1h	41m 59s	$196K	$381K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against tradeXYZ. 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 tradeXYZbpFee DeribitbpOrdersPrice spread, now −0.038%Rate

Funding earned: −$92.45
Price spread: −0.038% → +0.003%: −$4.11
Slippage, 4 orders: −$3.96
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$125.52
Costs to cover: 0.290%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 8 min ago; Deribit: live order book, 2 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 tradeXYZ live order book, 8 min ago	0.27 bp	9.5 bp −$10	10.6 bp −$106	doesn't fit	doesn't fit
Sell Deribit live order book, 2 min ago	0.53 bp	4.0 bp −$4	5.7 bp −$57	doesn't fit	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-PERPETUALshort	−0.0498%	1h	93.570	−0.038%	$196K	$381K	15x
Aster CLUSD1	−0.0260%	4h	93.638	+0.035%	$24.5M	$65.3M	20x	as long as short
GRVT CL_USDT_Perp	−0.0244%	4h	93.633	+0.029%	$58K	$629K	25x	as long as short
Binance CLUSDT	−0.0145%	4h	93.592	−0.015%	$246.3M	$925.3M	100x	as long as short
Aftermath Perps WTIUSD	−0.0139%	1h	93.649	+0.046%	$2K	$26K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0137%	1h	93.617	+0.012%	$286K	$956K	25x	as long as short
Variational Omni CL	−0.0135%	4h	93.599	−0.008%	$13.5M	$10.7M	—	as long as short
Bitget CLUSDT	−0.0100%	4h	93.574	−0.034%	$42.2M	$42.4M	100x	as long as short
Gate CL_USDT	−0.0097%	8h	93.520	−0.092%	$22.3M	$48.7M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0078%	1h	93.590	−0.017%	$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
tradeXYZ xyz:CLlong	−0.0057%	1h	93.606	long leg	$185.0M	$210.9M	20x
edgeX CLUSDC	−0.0055%	4h	93.649	+0.046%	$526K	$307K	30x	as long as short
Nado WTI-PERP	−0.0037%	1h	93.692	+0.092%	$966K	$627K	10x	as long as short
QFEX CL-USD	−0.0023%	1h	93.630	+0.026%	$2.3M	$2.5M	10x	as long as short
OKX CL-USDT-SWAP	−0.0014%	4h	93.600	−0.006%	$42.6M	$101.9M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0008%	1h	93.500	−0.113%	$404K	$931K	15x	as long as short
dYdX WTI-USD	0.0000%	1h	93.651	+0.048%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.604	−0.002%	$27.0M	$79.4M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.690	+0.090%	$3.1M	$2.8M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.640	+0.036%	$37K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.638	+0.034%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.166	−0.470%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0030%	8h	93.638	+0.034%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	93.586	−0.021%	$11.3M	$9.6M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.640	+0.036%	$2.0M	$16.1M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.680	+0.079%	$742K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.650	+0.047%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.636	+0.032%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.621	+0.016%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.674	+0.072%	$333K	$576K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.616	+0.011%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.680	+0.079%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.583	−0.025%	$4K	—	10x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.74	+9.762%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0226%	4h	93.640	+0.036%	$4.0M	$978K	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0246% / S −0.0179%	1h	93.615	+0.010%	$84K	—	111x	as long as short