Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0002%/8h= −0.2% APRpaid last 24h +0.007%

Price spread now: edgeX against tradeXYZ+0.035%46s7-day average −0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$480.479% of the position

Long on tradeXYZ Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.188%−$19 on $10k

Price spread, last 4 days (all we have)−0.046%−$5 · spread now +0.035%, 7d avg −0.018%

Together, before fees−0.235%+ Points / potential airdroptradeXYZ: Active · edgeX: Active · farm board−$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: edgeX is 0.052% dearer against tradeXYZ than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.018%. The two prices were read 46 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	tradeXYZ xyz:CL	93.200	−0.0003	get 0.0000% / 1h	42m 41s	$184.6M	$219.0M	20x
Short	edgeX CLUSDC	93.232	−0.0005	pay 0.0003% / 4h	3h 42m	$524K	$308K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$0.41
Price spread: +0.035% → −0.018%: $5.23
Slippage, 4 orders: −$20.93
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$43.11
Costs to cover: 0.479%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 7 min ago; edgeX: live order book, 11 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, 7 min ago	0.11 bp	9.2 bp −$9	9.2 bp −$92	doesn't fit	doesn't fit
Sell edgeX live order book, 11 min ago	10.27 bp	14.8 bp −$15	15.0 bp −$150	21.6 bp −$2,158	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	−0.0501%	1h	93.180	−0.021%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0262%	4h	93.210	+0.011%	$24.1M	$66.9M	20x	as long as short
GRVT CL_USDT_Perp	−0.0226%	4h	93.196	−0.005%	$54K	$645K	25x	as long as short
Binance CLUSDT	−0.0173%	4h	93.172	−0.030%	$245.2M	$942.3M	100x	as long as short
Variational Omni CL	−0.0160%	4h	93.169	−0.034%	$13.4M	$10.8M	—	as long as short
Nado WTI-PERP	−0.0130%	1h	93.283	+0.089%	$965K	$640K	10x	as long as short
Bitget CLUSDT	−0.0124%	4h	93.220	+0.021%	$42.0M	$43.3M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0117%	1h	93.170	−0.032%	$3.5M	$5.3M	20x	as long as short
Aftermath Perps WTIUSD	−0.0111%	1h	93.199	−0.001%	$2K	$27K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.209	+0.009%	$277K	$960K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0052%	8h	93.160	−0.043%	$21.0M	$51.0M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.190	−0.011%	$401K	$927K	15x	as long as short
OKX CL-USDT-SWAP	−0.0033%	4h	93.230	+0.032%	$42.6M	$102.9M	50x	as long as short
QFEX CL-USD	−0.0033%	1h	93.220	+0.021%	$2.3M	$1.8M	10x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.230	+0.032%	$37K	$41K	20x	as long as short
KuCoin CLUSDTM	−0.0008%	4h	93.235	+0.038%	$7.1M	$2.4M	50x	as long as short
edgeX CLUSDCshort	−0.0005%	4h	93.232	+0.035%	$524K	$308K	30x
tradeXYZ xyz:CLlong	−0.0003%	1h	93.200	long leg	$184.6M	$219.0M	20x
dYdX WTI-USD	0.0000%	1h	93.272	+0.078%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.202	+0.002%	$26.9M	$80.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.268	+0.073%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.195	−0.005%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.754	−0.479%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0016%	8h	93.175	−0.027%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	93.183	−0.018%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.220	+0.021%	$2.0M	$19.4M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.150	−0.054%	$736K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.220	+0.021%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.230	+0.032%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.205	+0.005%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.192	−0.009%	$331K	$597K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.240	+0.043%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.167	−0.036%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0207%	4h	93.220	+0.021%	$4.0M	$1.0M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0220% / S −0.0147%	1h	93.185	−0.016%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.17	+9.620%	$19K	$11K	30x	as long as short