Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0103%/8h= +11.3% APRpaid last 24h +0.014%

Price spread now: Extended against Variational Omni−0.025%7-day average −0.017% · you buy dearer than you sell

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

Long on Variational Omni Short on Extended

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.185%+$18 on $10k

Price spread, last 7 days+0.050%+$5 · spread now −0.025%, 7d avg −0.017%

Together, before fees+0.235%+ Points / potential airdropVariational Omni: Active · Extended: Active · farm board+$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.017%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CL	92.063	−0.0071	get 0.0036% / 4h	54m 08s	$13.4M	$13.3M	—
Short	Extended WTI-USD	92.040	0.0032	get 0.0004% / 1h	54m 08s	$2.0M	$27.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.025%Rate

Funding earned: $21.7
Price spread: −0.025% → −0.017%: −$0.75
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $15.95
Costs to cover: 0.050%
Break-even: 1.9 days

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Extended: live order book, 5 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, 5 min ago	2.27 bp	doesn't fit	2.3 bp −$23	3.6 bp −$358	doesn't fit
Sell Extended live order book, 5 min ago	0.16 bp	2.8 bp −$3	6.7 bp −$67	23.3 bp −$2,330	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	−0.0451%	1h	92.013	−0.054%	$275K	$1.2M	25x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0293%	1h	92.000	−0.068%	$95K	$189K	15x	as long as short
GRVT CL_USDT_Perp	−0.0258%	4h	92.068	+0.006%	$58K	$715K	25x	as long as short
Aster CLUSD1	−0.0193%	4h	92.000	−0.068%	$24.0M	$77.6M	20x	as long as short
Lighter WTI	−0.0160%	1h	91.988	−0.081%	$11.1M	$10.9M	20x	as long as short
Nado WTI-PERP	−0.0157%	1h	92.097	+0.038%	$923K	$746K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0122%	1h	91.970	−0.101%	$3.5M	$6.4M	20x	as long as short
Binance CLUSDT	−0.0100%	4h	91.990	−0.079%	$244.4M	$1.11B	100x	as long as short
Paradex CL-USD-PERP	−0.0099%	8h	92.007	−0.060%	$15K	$367	5x	as long as short
tradeXYZ xyz:CL	−0.0096%	1h	92.011	−0.056%	$185.5M	$275.6M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni CLlong	−0.0071%	4h	92.063	long leg	$13.4M	$13.3M	—
Bullet WTIOIL-USD	−0.0067%	1h	91.983	−0.086%	$19K	$241K	10x	as long as short
QFEX CL-USD	−0.0054%	1h	91.980	−0.090%	$2.4M	$2.6M	10x	as long as short
Pacifica CL	−0.0020%	1h	92.040	−0.025%	$332K	$578K	10x	as long as short
Gate CL_USDT	−0.0018%	8h	91.930	−0.144%	$21.3M	$57.4M	100x	as long as short
dYdX WTI-USD	0.0000%	1h	92.108	+0.049%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.010	−0.057%	$25.5M	$95.0M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	91.990	−0.079%	$43.0M	$113.2M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.114	+0.055%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	91.984	−0.085%	$41.9M	$52.3M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	−0.035%	$399K	$998K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.573	−0.532%	$4K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.160	+0.106%	$37K	$101K	20x	as long as short
Aftermath Perps WTIUSD	+0.0019%	1h	92.027	−0.039%	$2K	$29K	5x	as long as short
Extended WTI-USDshort	+0.0032%	1h	92.040	−0.025%	$2.0M	$27.6M	10x
Polymarket Perps WTIOIL-USD	+0.0038%	1h	91.988	−0.081%	$1.6M	$1.4M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.050	−0.014%	$724K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.070	+0.008%	—	$308K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	91.985	−0.084%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0081%	4h	92.109	+0.051%	$530K	$334K	30x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.006	−0.061%	$7.2M	$2.0M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.150	+0.095%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.964	−0.107%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	91.985	−0.084%	$76K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.28	+10.007%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.080	+0.019%	$4.0M	$1.4M	50x	as long as short