Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0208%/8h= −22.8% APRpaid last 24h −0.060%

Price spread now: Variational Omni against ApeX Omni−0.057%7-day average −0.019% · you buy dearer than you sell

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

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.118%−$12 on $10k

Price spread, last 4 days (all we have)+0.030%+$3 · spread now −0.057%, 7d avg −0.019%

Together, before fees−0.089%+ Points / potential airdropVariational Omni: Active · farm board−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Variational Omni is 0.038% cheaper against ApeX Omni than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.019%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni CLUSDT	92.710	0.0100	pay 0.0013% / 1h	21m 12s	$54K	$266K	50x
Short	Variational Omni CL	92.657	−0.0108	pay 0.0054% / 4h	3h 21m	$13.5M	$10.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against ApeX 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 ApeX OmnibpFee Variational OmnibpOrdersPrice spread, now −0.057%Rate

Funding earned: −$43.72
Price spread: −0.057% → −0.019%: −$3.79
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$57.51
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 11 min ago; Variational Omni: RFQ quote, 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 ApeX Omni live order book, 11 min ago	8.63 bp	19.3 bp −$19	171.0 bp −$1,710	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.27 bp	doesn't fit	3.6 bp −$36	7.4 bp −$744	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	−0.0614%	1h	92.460	−0.270%	$187K	$412K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0315%	1h	92.487	−0.241%	$268K	$948K	25x	as long as short
Aster CLUSD1	−0.0218%	4h	92.500	−0.226%	$24.9M	$60.0M	20x	as long as short
Binance CLUSDT	−0.0123%	4h	92.470	−0.259%	$245.5M	$931.5M	100x	as long as short
Gate CL_USDT	−0.0119%	8h	92.430	−0.302%	$23.7M	$50.3M	100x	as long as short
Variational Omni CLshort	−0.0108%	4h	92.657	−0.057%	$13.5M	$10.8M	—
Nado WTI-PERP	−0.0100%	1h	92.541	−0.182%	$946K	$596K	10x	as long as short
GRVT CL_USDT_Perp	−0.0080%	4h	92.622	−0.095%	$74K	$611K	25x	as long as short
Bitget CLUSDT	−0.0076%	4h	92.450	−0.280%	$42.1M	$41.9M	100x	as long as short
Aftermath Perps WTIUSD	−0.0066%	1h	92.698	−0.013%	$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	−0.0045%	4h	92.450	−0.280%	$42.5M	$102.7M	50x	as long as short
edgeX CLUSDC	−0.0031%	4h	92.632	−0.084%	$540K	$342K	30x	as long as short
QFEX CL-USD	−0.0026%	1h	92.480	−0.248%	$2.3M	$2.5M	10x	as long as short
tradeXYZ xyz:CL	−0.0011%	1h	92.478	−0.250%	$183.7M	$190.9M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.579	−0.142%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.488	−0.239%	$27.4M	$82.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.555	−0.167%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.475	−0.253%	$19K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.158	−0.595%	$5K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.660	−0.054%	$37K	$39K	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	92.590	−0.129%	$427K	$869K	15x	as long as short
Paradex CL-USD-PERP	+0.0017%	8h	92.471	−0.258%	$15K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	92.464	−0.265%	$11.3M	$8.9M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.510	−0.216%	$1.7M	$14.0M	10x	as long as short
Ondo Perps WTI-USD.P	+0.0033%	1h	92.460	−0.270%	$3.6M	$5.2M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.590	−0.129%	$728K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.500	−0.227%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.555	−0.167%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.467	−0.262%	$2.1M	$69K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.500	−0.227%	$344K	$584K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.490	−0.237%	$7.0M	$2.5M	50x	as long as short
ApeX Omni CLUSDTlong	+0.0100%	1h	92.710	long leg	$54K	$266K	50x
Aevo WTIOIL-PERP	+0.0104%	1h	92.452	−0.278%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0165% / S −0.0007%	1h	92.465	−0.264%	$80K	—	111x	as long as short
BloFin CL-USDT	+0.0195%	4h	92.520	−0.205%	$4.1M	$999K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+10.165%	$19K	$5K	30x	as long as short