Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0300%/8h= +32.9% APRpaid last 24h +0.030%

Price spread now: SoDEX against Variational Omni+0.022%7-day average 0.000% · you sell dearer than you buy

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

Long on Variational Omni Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.077%+$8 on $10k

Price spread, last 3 days (all we have)−0.074%−$7 · spread now +0.022%, 7d avg 0.000%

Together, before fees+0.003%+ Points / potential airdropVariational Omni: Active · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and SoDEX is 0.022% dearer against Variational Omni than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of 0.000%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.077% in total (about 8.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CL	92.718	−0.0250	get 0.0125% / 4h	2h 21m	$13.3M	$11.0M	—
Short	SoDEX CL-USD	92.738	0.0050	get 0.0006% / 1h	21m 05s	$2.1M	$61K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.022%Rate

Funding earned: $63.07
Price spread: +0.022% → 0.000%: $2.19
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $57.27
Costs to cover: 0.080%
Break-even: 0.6 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; SoDEX: live order book, 3 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, 3 min ago	2.27 bp	doesn't fit	2.3 bp −$23	6.5 bp −$646	doesn't fit
Sell SoDEX live order book, 3 min ago	1.02 bp	18.5 bp −$18	96.3 bp −$963	doesn't fit	doesn't fit

CL on 35 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	−0.0612%	1h	92.710	−0.008%	$198K	$365K	15x	as long as short
Aster CLUSD1	−0.0303%	4h	92.770	+0.056%	$23.9M	$72.9M	20x	as long as short
GRVT CL_USDT_Perp	−0.0266%	4h	92.727	+0.010%	$53K	$631K	25x	as long as short
Binance CLUSDT	−0.0256%	4h	92.750	+0.035%	$244.2M	$978.3M	100x	as long as short
Variational Omni CLlong	−0.0250%	4h	92.718	long leg	$13.3M	$11.0M	—
Gate CL_USDT	−0.0124%	8h	92.700	−0.019%	$20.8M	$53.7M	100x	as long as short
Nado WTI-PERP	−0.0060%	1h	92.777	+0.064%	$965K	$676K	10x	as long as short
tradeXYZ xyz:CL	−0.0053%	1h	92.751	+0.036%	$184.3M	$220.4M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	+0.035%	$402K	$946K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0040%	1h	92.690	−0.030%	$3.5M	$5.7M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.775	+0.061%	$268K	$879K	25x	as long as short
QFEX CL-USD	−0.0033%	1h	92.730	+0.013%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0020%	4h	92.730	+0.013%	$42.8M	$105.0M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.757	+0.043%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.770	+0.056%	$26.8M	$82.5M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.738	+0.022%	$41.9M	$44.2M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	+0.078%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.737	+0.021%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.303	−0.447%	$5K	—	150x	as long as short
Aftermath Perps WTIUSD	+0.0027%	1h	92.781	+0.068%	$2K	$28K	5x	as long as short
Paradex CL-USD-PERP	+0.0027%	8h	92.730	+0.013%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	92.748	+0.033%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.770	+0.056%	$2.1M	$24.5M	10x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.862	+0.156%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.350	−0.397%	$726K	$3.0M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.760	+0.045%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.742	+0.026%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USDshort	+0.0050%	1h	92.738	+0.022%	$2.1M	$61K	20x
edgeX CLUSDC	+0.0058%	4h	92.744	+0.028%	$533K	$297K	30x	as long as short
KuCoin CLUSDTM	+0.0074%	4h	92.756	+0.041%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.729	+0.012%	$331K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.820	+0.110%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.705	−0.014%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.735	+0.019%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.83	+9.831%	$19K	$11K	30x	as long as short