Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0086%/8h= +9.4% APRpaid last 24h +0.014%

Price spread now: Paradex against tradeXYZ−0.032%7-day average — · you buy dearer than you sell

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

Long on tradeXYZ 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 airdroptradeXYZ: Active · Paradex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.032% cheaper against tradeXYZ than usual: you would sell low and buy high (spread −0.032% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 30 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:CL	92.895	−0.0052	get 0.0006% / 1h	48m 14s	$184.8M	$218.5M	20x
Short	Paradex CL-USD-PERP	92.865	0.0034	get 0.0034% / 8h	5h 48m	$16K	$367	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.032%Rate

Funding earned: $17.97
Price spread: −0.032% → 0.000%: −$3.21
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$7.24
Costs to cover: 0.220%
Break-even: 9.8 days

Slippage unknown: tradeXYZ: live order book, 12 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 tradeXYZ live order book, 12 min ago	0.05 bp	9.1 bp −$9	10.1 bp −$101	doesn't fit	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 35 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	92.850	−0.048%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0238%	4h	92.898	+0.003%	$24.0M	$70.3M	20x	as long as short
GRVT CL_USDT_Perp	−0.0208%	4h	92.953	+0.062%	$61K	$633K	25x	as long as short
Binance CLUSDT	−0.0206%	4h	92.885	−0.011%	$244.6M	$957.4M	100x	as long as short
Variational Omni CL	−0.0200%	4h	92.927	+0.034%	$13.5M	$11.1M	—	as long as short
Ondo Perps WTI-USD.P	−0.0138%	1h	92.820	−0.081%	$3.5M	$5.7M	20x	as long as short
Nado WTI-PERP	−0.0125%	1h	92.945	+0.053%	$962K	$668K	10x	as long as short
Gate CL_USDT	−0.0099%	8h	92.840	−0.059%	$20.9M	$52.2M	100x	as long as short
tradeXYZ xyz:CLlong	−0.0052%	1h	92.895	long leg	$184.8M	$218.5M	20x
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.156%	$402K	$944K	15x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0032%	1h	92.860	−0.038%	$2.5M	$1.7M	10x	as long as short
Aftermath Perps WTIUSD	−0.0021%	1h	92.889	−0.007%	$2K	$28K	5x	as long as short
OKX CL-USDT-SWAP	−0.0012%	4h	92.890	−0.005%	$42.8M	$102.5M	50x	as long as short
edgeX CLUSDC	−0.0008%	4h	92.823	−0.078%	$529K	$302K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	92.917	+0.023%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.908	+0.014%	$26.9M	$81.0M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.879	−0.017%	$41.9M	$43.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.880	−0.016%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.890	−0.005%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.454	−0.475%	$5K	—	150x	as long as short
Lighter WTI	+0.0008%	1h	92.897	+0.002%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.935	+0.043%	$2.1M	$23.3M	10x	as long as short
Paradex CL-USD-PERPshort	+0.0034%	8h	92.865	−0.032%	$16K	$367	5x
StandX CL-USD	+0.0040%	1h	92.440	−0.490%	$727K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.910	+0.016%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.897	+0.002%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.885	−0.011%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	92.999	+0.111%	$3.3M	$2.7M	20x	as long as short
KuCoin CLUSDTM	+0.0072%	4h	92.895	0.000%	$7.3M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.887	−0.009%	$332K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.940	+0.048%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.854	−0.044%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.886	−0.009%	$273K	$881K	25x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.885	−0.011%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.15	+9.960%	$19K	$11K	30x	as long as short