CL

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0085%/8h= +9.3% APRnext payment +$0.11 per $10,000 · paid last 24h +0.015%

Price spread now: Phoenix against tradeXYZ−0.009%7-day average +0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$360.364% of the position

Long on tradeXYZ Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.125%+$12 on $10k

Price spread, last 3 days (all we have)+0.068%+$7 · spread now −0.009%, 7d avg +0.025%

Together, before fees+0.193%+ Points / potential airdroptradeXYZ: Active · farm board+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.034% cheaper against tradeXYZ than usual: you would sell low and buy high (spread −0.009% now, against its 7-day average of +0.025%). If the spread goes back, that is −$3 on $10k: about 32 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	92.128	−0.0085	get 0.0011% / 1h	38m 36s	$187.1M	$274.7M	20x
Short	Phoenix WTIOIL	92.120	0	get 0.0000% / 1h	38m 36s	$37K	$101K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.009%Rate

Funding earned: $17.89
Price spread: −0.009% → +0.025%: −$3.4
Slippage, 4 orders: −$11.36
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$21.87
Costs to cover: 0.364%
Break-even: 15.6 days

Slippage from tradeXYZ: live order book, 11 min ago; Phoenix: live order book, 14 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, 11 min ago	0.16 bp	9.4 bp −$9	10.0 bp −$100	doesn't fit	doesn't fit
Sell Phoenix live order book, 14 min ago	2.17 bp	8.9 bp −$9	17.6 bp −$176	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
Kraken Futures PF_WTIOILUSD	−0.0450%	1h	92.157	+0.032%	$274K	$1.2M	25x	as long as short
GRVT CL_USDT_Perp	−0.0314%	4h	92.040	−0.096%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0237%	4h	92.112	−0.017%	$24.0M	$77.4M	20x	as long as short
Nado WTI-PERP	−0.0168%	1h	92.133	+0.005%	$924K	$740K	10x	as long as short
Binance CLUSDT	−0.0160%	4h	92.102	−0.028%	$245.4M	$1.10B	100x	as long as short
Variational Omni CL	−0.0138%	4h	92.053	−0.081%	$13.4M	$12.4M	—	as long as short
Lighter WTI	−0.0120%	1h	92.096	−0.035%	$11.2M	$10.9M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0102%	1h	92.070	−0.063%	$3.5M	$6.3M	20x	as long as short
Paradex CL-USD-PERP	−0.0098%	8h	92.081	−0.051%	$15K	$367	5x	as long as short
tradeXYZ xyz:CLlong	−0.0085%	1h	92.128	long leg	$187.1M	$274.7M	20x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit WTIOIL_USDC-PERPETUAL	−0.0076%	1h	92.120	−0.009%	$96K	$189K	15x	as long as short
QFEX CL-USD	−0.0054%	1h	92.070	−0.063%	$2.4M	$2.6M	10x	as long as short
Bullet WTIOIL-USD	−0.0052%	1h	92.107	−0.023%	$18K	$241K	10x	as long as short
Gate CL_USDT	−0.0027%	8h	92.060	−0.074%	$21.3M	$57.6M	100x	as long as short
Pacifica CL	−0.0020%	1h	92.123	−0.006%	$333K	$576K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.108	−0.022%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.140	+0.013%	$25.6M	$94.8M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.110	−0.020%	$43.0M	$112.8M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.219	+0.099%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.101	−0.029%	$42.0M	$51.7M	100x	as long as short
Phoenix WTIOILshort	0.0000%	1h	92.120	−0.009%	$37K	$101K	20x
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	−0.106%	$399K	$966K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.669	−0.498%	$4K	—	150x	as long as short
Extended WTI-USD	+0.0016%	1h	92.145	+0.018%	$2.0M	$27.5M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.130	+0.002%	$721K	$3.1M	40x	as long as short
Polymarket Perps WTIOIL-USD	+0.0043%	1h	92.089	−0.042%	$1.6M	$1.4M	20x	as long as short
Vest CL-PERP	+0.0046%	1h	92.130	+0.002%	—	$308K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.105	−0.025%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0059%	4h	92.084	−0.048%	$529K	$332K	30x	as long as short
Aftermath Perps WTIUSD	+0.0086%	1h	92.085	−0.046%	$2K	$29K	5x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.134	+0.007%	$7.3M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.070	−0.063%	$55K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.077	−0.055%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0205% / S −0.0130%	1h	92.105	−0.025%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.28	+9.929%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.090	−0.041%	$4.0M	$1.4M	50x	as long as short