Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.007%

Price spread now: Nado against Variational Omni+0.085%7-day average +0.010% · you sell dearer than you buy

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

Long on Variational Omni Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.039%−$4 on $10k

Price spread, last 7 days−0.107%−$11 · spread now +0.085%, 7d avg +0.010%

Together, before fees−0.146%+ Points / potential airdropVariational Omni: Active · Nado: Active · farm board−$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Nado is 0.074% dearer against Variational Omni than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CL	93.440	−0.0170	get 0.0085% / 4h	2h 14m	$13.4M	$10.9M	—
Short	Nado WTI-PERP	93.519	−0.0122	pay 0.0015% / 1h	14m 59s	$967K	$614K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.085%Rate

Funding earned: $10.07
Price spread: +0.085% → +0.010%: $7.45
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $10.52
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Nado: live order book, 33 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, 4 min ago	2.26 bp	doesn't fit	2.8 bp −$28	6.4 bp −$643	doesn't fit
Sell Nado live order book, 33 min ago	0.05 bp	4.5 bp −$5	8.4 bp −$84	28.1 bp −$2,808	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
Deribit WTIOIL_USDC-PERPETUAL	−0.0392%	1h	93.460	+0.022%	$197K	$376K	15x	as long as short
GRVT CL_USDT_Perp	−0.0294%	4h	93.442	+0.003%	$58K	$629K	25x	as long as short
Aster CLUSD1	−0.0289%	4h	93.503	+0.068%	$24.4M	$64.9M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.489	+0.053%	$285K	$958K	25x	as long as short
Binance CLUSDT	−0.0181%	4h	93.480	+0.043%	$246.2M	$932.5M	100x	as long as short
Variational Omni CLlong	−0.0170%	4h	93.440	long leg	$13.4M	$10.9M	—
Aftermath Perps WTIUSD	−0.0153%	1h	93.452	+0.014%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0128%	4h	93.454	+0.015%	$42.2M	$42.8M	100x	as long as short
Nado WTI-PERPshort	−0.0122%	1h	93.519	+0.085%	$967K	$614K	10x
Ondo Perps WTI-USD.P	−0.0088%	1h	93.410	−0.032%	$3.5M	$5.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0077%	8h	93.420	−0.021%	$22.0M	$50.0M	100x	as long as short
tradeXYZ xyz:CL	−0.0072%	1h	93.462	+0.024%	$184.9M	$213.5M	20x	as long as short
edgeX CLUSDC	−0.0070%	4h	93.441	+0.001%	$525K	$306K	30x	as long as short
OKX CL-USDT-SWAP	−0.0048%	4h	93.480	+0.043%	$42.7M	$103.0M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.500	+0.065%	$404K	$931K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.460	+0.022%	$2.3M	$2.5M	10x	as long as short
dYdX WTI-USD	0.0000%	1h	93.495	+0.059%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.500	+0.065%	$27.2M	$79.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.526	+0.092%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.500	+0.065%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.488	+0.052%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.039	−0.429%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0014%	8h	93.460	+0.022%	$16K	$367	5x	as long as short
Lighter WTI	+0.0016%	1h	93.471	+0.034%	$11.2M	$9.9M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.520	+0.086%	$2.0M	$17.0M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.450	+0.011%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.470	+0.033%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.473	+0.036%	$332K	$577K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.466	+0.028%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.486	+0.050%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0082%	4h	93.508	+0.073%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.520	+0.086%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.458	+0.019%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0190%	4h	93.480	+0.043%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.64	+9.852%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0239% / S −0.0172%	1h	93.485	+0.049%	$84K	—	111x	as long as short