Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0018%/8h= −2.0% APRpaid last 24h +0.002%

Price spread now: Deribit against Variational Omni−0.055%7-day average +0.023% · you buy dearer than you sell

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

Long on Variational Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.022%+$2 on $10k

Price spread, last 3 days (all we have)+0.016%+$2 · spread now −0.055%, 7d avg +0.023%

Together, before fees+0.038%+ Points / potential airdropVariational Omni: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Deribit is 0.078% cheaper against Variational Omni than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.023%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CL	92.631	−0.0271	get 0.0136% / 4h	3h 11m	$13.3M	$11.4M	—
Short	Deribit WTIOIL_USDC-PERPETUAL	92.580	−0.0290	pay 0.0036% / 1h	11m 49s	$123K	$275K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Variational Omni. 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 Variational OmnibpFee DeribitbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$3.86
Price spread: −0.055% → +0.023%: −$7.79
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$18.66
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Deribit: live order book, 62 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 Variational Omni RFQ quote, 2 min ago	2.27 bp	doesn't fit	2.9 bp −$29	7.0 bp −$698	doesn't fit
Sell Deribit live order book, 62 min ago	0.54 bp	7.3 bp −$7	8.3 bp −$83	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
GRVT CL_USDT_Perp	−0.0360%	4h	92.647	+0.018%	$58K	$684K	25x	as long as short
Aster CLUSD1	−0.0336%	4h	92.630	−0.001%	$24.0M	$75.1M	20x	as long as short
Deribit WTIOIL_USDC-PERPETUALshort	−0.0290%	1h	92.580	−0.055%	$123K	$275K	15x
Binance CLUSDT	−0.0281%	4h	92.595	−0.039%	$244.4M	$1.03B	100x	as long as short
Variational Omni CLlong	−0.0271%	4h	92.631	long leg	$13.3M	$11.4M	—
Gate CL_USDT	−0.0212%	8h	92.530	−0.109%	$21.3M	$55.5M	100x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.610	−0.022%	$274K	$913K	25x	as long as short
Ondo Perps WTI-USD.P	−0.0055%	1h	92.610	−0.022%	$3.6M	$5.9M	20x	as long as short
Nado WTI-PERP	−0.0052%	1h	92.653	+0.024%	$934K	$708K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.648%	$399K	$956K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0040%	1h	92.590	−0.044%	$2.4M	$1.7M	10x	as long as short
tradeXYZ xyz:CL	−0.0032%	1h	92.603	−0.030%	$185.8M	$237.1M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.666	+0.038%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.620	−0.011%	$26.5M	$89.4M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.580	−0.055%	$43.1M	$108.3M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.726	+0.103%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.617	−0.015%	$42.2M	$48.2M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.710	+0.086%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.591	−0.043%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.144	−0.525%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0005%	8h	92.583	−0.051%	$15K	$367	5x	as long as short
Extended WTI-USD	+0.0008%	1h	92.650	+0.021%	$2.3M	$25.9M	10x	as long as short
Lighter WTI	+0.0024%	1h	92.603	−0.030%	$11.2M	$10.2M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.320	−0.335%	$722K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.640	+0.010%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.606	−0.027%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.580	−0.055%	$2.0M	$38K	20x	as long as short
KuCoin CLUSDTM	+0.0082%	4h	92.620	−0.011%	$7.2M	$2.3M	50x	as long as short
edgeX CLUSDC	+0.0095%	4h	92.657	+0.028%	$533K	$300K	30x	as long as short
Pacifica CL	+0.0100%	1h	92.602	−0.031%	$356K	$602K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.670	+0.042%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.570	−0.066%	$4K	—	10x	as long as short
Aftermath Perps WTIUSD	+0.0162%	1h	92.643	+0.013%	$2K	$28K	5x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.585	−0.049%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.69	+9.780%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.640	+0.010%	$4.0M	$1.2M	50x	as long as short