Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0407%/8h= +44.5% APRpaid last 24h +0.057%

Price spread now: Injective against Variational Omni+9.884%91s7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Injective is 9.884% dearer against Variational Omni than usual: you sell high and buy low: +$988 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 91 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	Variational Omni CL	93.109	−0.0187	get 0.0093% / 4h	49m 51s	$13.5M	$11.3M	—
Short	Injective WTI/USDC PERP	102.31	0.0220	get 0.0028% / 1h	49m 51s	$19K	$11K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +9.884%Rate

Funding earned: $85.38
Price spread: +9.884% → 0.000%: $988.45
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,073.8
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Injective: 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 Variational Omni RFQ quote, 4 min ago	2.26 bp	doesn't fit	2.3 bp −$23	6.7 bp −$675	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 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	93.100	−0.009%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0255%	4h	93.150	+0.044%	$24.0M	$67.9M	20x	as long as short
GRVT CL_USDT_Perp	−0.0244%	4h	93.132	+0.025%	$54K	$635K	25x	as long as short
Binance CLUSDT	−0.0196%	4h	93.135	+0.028%	$244.8M	$951.3M	100x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0195%	1h	93.153	+0.048%	$274K	$872K	25x	as long as short
Variational Omni CLlong	−0.0187%	4h	93.109	long leg	$13.5M	$11.3M	—
tradeXYZ xyz:CL	−0.0104%	1h	93.123	+0.015%	$185.1M	$216.0M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0100%	1h	93.080	−0.031%	$3.5M	$5.6M	20x	as long as short
Aftermath Perps WTIUSD	−0.0079%	1h	93.129	+0.022%	$2K	$27K	5x	as long as short
OKX CL-USDT-SWAP	−0.0070%	4h	93.130	+0.023%	$42.6M	$103.1M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CLUSDT	−0.0062%	4h	93.120	+0.012%	$42.0M	$43.8M	100x	as long as short
Gate CL_USDT	−0.0055%	8h	93.080	−0.031%	$20.9M	$51.2M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.385%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0043%	1h	93.120	+0.012%	$2.5M	$1.7M	10x	as long as short
Extended WTI-USD	−0.0032%	1h	93.170	+0.066%	$2.1M	$21.5M	10x	as long as short
Lighter WTI	−0.0024%	1h	93.116	+0.008%	$11.2M	$10.5M	20x	as long as short
Nado WTI-PERP	−0.0023%	1h	93.201	+0.099%	$963K	$652K	10x	as long as short
edgeX CLUSDC	−0.0012%	4h	93.174	+0.070%	$531K	$301K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	93.195	+0.093%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.159	+0.054%	$26.8M	$80.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.221	+0.121%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.230	+0.130%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.141	+0.035%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.688	−0.452%	$5K	—	150x	as long as short
KuCoin CLUSDTM	+0.0004%	4h	93.128	+0.021%	$7.1M	$2.4M	50x	as long as short
Paradex CL-USD-PERP	+0.0015%	8h	93.134	+0.027%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	93.140	+0.034%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.150	+0.044%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.144	+0.038%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.123	+0.015%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0068%	1h	93.152	+0.046%	$329K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.160	+0.055%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.105	−0.004%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0168%	4h	93.180	+0.077%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0209% / S −0.0134%	1h	93.125	+0.018%	$79K	—	111x	as long as short
Injective WTI/USDC PERPshort	+0.0220%	1h	102.31	+9.884%	$19K	$11K	30x