Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0242%/8h= +26.5% APRpaid last 24h −0.001%

Price spread now: tradeXYZ against Variational Omni+0.034%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 tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.029%+$3 on $10k

Price spread, last 7 days−0.027%−$3 · spread now +0.034%, 7d avg 0.000%

Together, before fees+0.002%+ Points / potential airdropVariational Omni: Active · tradeXYZ: Active · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and tradeXYZ is 0.034% dearer against Variational Omni than usual: you sell high and buy low: +$3 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 0.029% in total (about 3.1% 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	92.658	−0.0273	get 0.0136% / 4h	3h 04m	$13.3M	$11.5M	—
Short	tradeXYZ xyz:CL	92.689	−0.0031	pay 0.0004% / 1h	4m 11s	$185.9M	$233.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.034%Rate

Funding earned: $50.76
Price spread: +0.034% → 0.000%: $3.39
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $36.15
Costs to cover: 0.180%
Break-even: 2.0 days

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; tradeXYZ: live order book, 6 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	3.1 bp −$31	7.2 bp −$721	doesn't fit
Sell tradeXYZ live order book, 6 min ago	0.22 bp	9.6 bp −$10	10.1 bp −$101	doesn't fit	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
GRVT CL_USDT_Perp	−0.0352%	4h	92.655	−0.004%	$58K	$630K	25x	as long as short
Aster CLUSD1	−0.0337%	4h	92.690	+0.035%	$24.0M	$75.1M	20x	as long as short
Binance CLUSDT	−0.0283%	4h	92.690	+0.035%	$244.6M	$1.02B	100x	as long as short
Variational Omni CLlong	−0.0273%	4h	92.658	long leg	$13.3M	$11.5M	—
Gate CL_USDT	−0.0190%	8h	92.620	−0.041%	$21.3M	$55.6M	100x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0181%	1h	92.690	+0.035%	$123K	$274K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.700	+0.046%	$275K	$912K	25x	as long as short
Ondo Perps WTI-USD.P	−0.0053%	1h	92.650	−0.008%	$3.5M	$5.9M	20x	as long as short
Nado WTI-PERP	−0.0050%	1h	92.729	+0.077%	$935K	$701K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.678%	$399K	$956K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0040%	1h	92.660	+0.002%	$2.4M	$1.7M	10x	as long as short
tradeXYZ xyz:CLshort	−0.0031%	1h	92.689	+0.034%	$185.9M	$233.5M	20x
dYdX WTI-USD	0.0000%	1h	92.742	+0.090%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.688	+0.033%	$26.5M	$88.1M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.680	+0.024%	$42.9M	$108.5M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.802	+0.156%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.682	+0.026%	$42.2M	$47.9M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.680	+0.024%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.692	+0.036%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.240	−0.451%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0008%	1h	92.720	+0.067%	$2.3M	$25.7M	10x	as long as short
Paradex CL-USD-PERP	+0.0010%	8h	92.666	+0.009%	$15K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	92.693	+0.038%	$11.2M	$10.3M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.370	−0.311%	$722K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.710	+0.056%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.688	+0.033%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.684	+0.028%	$2.0M	$38K	20x	as long as short
edgeX CLUSDC	+0.0067%	4h	92.621	−0.040%	$533K	$299K	30x	as long as short
KuCoin CLUSDTM	+0.0078%	4h	92.693	+0.038%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.677	+0.021%	$354K	$605K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.670	+0.013%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.649	−0.009%	$4K	—	10x	as long as short
Aftermath Perps WTIUSD	+0.0129%	1h	92.685	+0.029%	$2K	$28K	5x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.685	+0.029%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.69	+9.748%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.640	−0.019%	$4.0M	$1.2M	50x	as long as short