Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0134%/8h= +14.7% APRpaid last 24h +0.032%

Price spread now: Paradex against Variational Omni+0.029%7-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 Paradex

What this pair did over the last

the charts below follow

Funding, last 4 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 · Paradex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Paradex is 0.029% dearer against Variational Omni than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CL	92.920	−0.0127	get 0.0063% / 4h	3h 48m	$13.5M	$10.7M	—
Short	Paradex CL-USD-PERP	92.946	0.0007	get 0.0007% / 8h	7h 48m	$16K	$367	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.029%Rate

Funding earned: $28.11
Price spread: +0.029% → 0.000%: $2.87
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Paradex: 2 bp × 2 orders: −$4
Net: $26.98
Costs to cover: 0.040%
Break-even: 0.3 days

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Paradex: 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, 1 min ago	2.27 bp	doesn't fit	2.3 bp −$23	4.8 bp −$485	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	−0.0503%	1h	92.930	+0.011%	$188K	$407K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0313%	1h	92.983	+0.068%	$270K	$931K	25x	as long as short
GRVT CL_USDT_Perp	−0.0290%	4h	92.887	−0.035%	$74K	$614K	25x	as long as short
Aster CLUSD1	−0.0241%	4h	92.973	+0.057%	$24.7M	$61.5M	20x	as long as short
Gate CL_USDT	−0.0199%	8h	92.870	−0.053%	$23.3M	$48.9M	100x	as long as short
Binance CLUSDT	−0.0138%	4h	92.955	+0.038%	$246.6M	$929.2M	100x	as long as short
Variational Omni CLlong	−0.0127%	4h	92.920	long leg	$13.5M	$10.7M	—
Nado WTI-PERP	−0.0113%	1h	93.009	+0.096%	$951K	$611K	10x	as long as short
Bitget CLUSDT	−0.0090%	4h	92.952	+0.035%	$42.0M	$41.7M	100x	as long as short
Aftermath Perps WTIUSD	−0.0078%	1h	92.979	+0.064%	$1K	$27K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAP	−0.0060%	4h	92.930	+0.011%	$42.6M	$103.2M	50x	as long as short
tradeXYZ xyz:CL	−0.0060%	1h	92.948	+0.030%	$184.2M	$196.0M	20x	as long as short
edgeX CLUSDC	−0.0044%	4h	92.888	−0.034%	$542K	$342K	30x	as long as short
Ondo Perps WTI-USD.P	−0.0030%	1h	92.950	+0.033%	$3.6M	$5.3M	20x	as long as short
QFEX CL-USD	−0.0026%	1h	92.940	+0.022%	$2.3M	$2.5M	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.953	+0.036%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.972	+0.056%	$27.1M	$80.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.002	+0.089%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.957	+0.040%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.534	−0.415%	$5K	—	150x	as long as short
Paradex CL-USD-PERPshort	+0.0007%	8h	92.946	+0.029%	$16K	$367	5x
Phoenix WTIOIL	+0.0009%	1h	92.960	+0.043%	$37K	$39K	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	93.160	+0.259%	$404K	$808K	15x	as long as short
Lighter WTI	+0.0024%	1h	92.957	+0.040%	$11.3M	$8.6M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.000	+0.086%	$1.7M	$14.8M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.930	+0.011%	$732K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.970	+0.054%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.968	+0.052%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.956	+0.039%	$2.1M	$62K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.976	+0.061%	$346K	$586K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.988	+0.074%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.940	+0.022%	$54K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.933	+0.015%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0166% / S 0.0000%	1h	92.955	+0.038%	$85K	—	111x	as long as short
BloFin CL-USDT	+0.0176%	4h	92.950	+0.033%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.916%	$19K	$5K	30x	as long as short