Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0382%/8h= +41.8% APRpaid last 24h +0.048%

Price spread now: ApeX Omni against Binance−0.048%99s7-day average +0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$500.503% of the position

Long on Binance Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.305%+$30 on $10k

Price spread, last 2 days (all we have)+0.043%+$4 · spread now −0.048%, 7d avg +0.010%

Together, before fees+0.347%+$35 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.058% cheaper against Binance than usual: you would sell low and buy high (spread −0.048% now, against its 7-day average of +0.010%). If the spread goes back, that is −$6 on $10k: about 12 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.305% in total) that is about 32 hours. The two prices were read 99 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CLUSDT	92.824	−0.0282	get 0.0141% / 4h	2h 57m	$244.9M	$1.02B	100x
Short	ApeX Omni CLUSDT	92.780	0.0100	get 0.0013% / 1h	57m 55s	$56K	$265K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Binance. 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 BinancebpFee ApeX OmnibpOrdersPrice spread, now −0.048%Rate

Funding earned: $80.19
Price spread: −0.048% → +0.010%: −$5.8
Slippage, 4 orders: −$30.32
Fee Binance: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $24.08
Costs to cover: 0.503%
Break-even: 4.9 days

Slippage from Binance: live order book, 16 min ago; ApeX Omni: live order book, 9 min ago.

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 Binance live order book, 16 min ago	0.54 bp	5.5 bp −$6	5.6 bp −$56	8.5 bp −$850	20.8 bp −$10.4K
Sell ApeX Omni live order book, 9 min ago	8.63 bp	19.9 bp −$20	193.7 bp −$1,937	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
Deribit WTIOIL_USDC-PERPETUAL	−0.0719%	1h	92.760	−0.069%	$192K	$358K	15x	as long as short
GRVT CL_USDT_Perp	−0.0342%	4h	92.660	−0.177%	$58K	$630K	25x	as long as short
Aster CLUSD1	−0.0336%	4h	92.863	+0.041%	$24.0M	$75.0M	20x	as long as short
Binance CLUSDTlong	−0.0282%	4h	92.824	long leg	$244.9M	$1.02B	100x
Variational Omni CL	−0.0273%	4h	92.659	−0.178%	$13.3M	$11.4M	—	as long as short
Gate CL_USDT	−0.0193%	8h	92.770	−0.058%	$21.2M	$52.2M	100x	as long as short
tradeXYZ xyz:CL	−0.0067%	1h	92.854	+0.032%	$186.5M	$234.7M	20x	as long as short
Nado WTI-PERP	−0.0065%	1h	92.837	+0.014%	$936K	$696K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.030	−0.856%	$399K	$956K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.833	+0.009%	$274K	$906K	25x	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	−0.0033%	1h	92.750	−0.080%	$2.5M	$1.7M	10x	as long as short
Ondo Perps WTI-USD.P	−0.0023%	1h	92.730	−0.102%	$3.5M	$5.9M	20x	as long as short
OKX CL-USDT-SWAP	−0.0005%	4h	92.830	+0.006%	$43.0M	$108.6M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.832	+0.008%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.850	+0.028%	$26.5M	$86.7M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.822	−0.002%	$42.3M	$47.3M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.740	−0.091%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.795	−0.032%	$19K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.389	−0.469%	$5K	—	150x	as long as short
Lighter WTI	+0.0008%	1h	92.844	+0.021%	$11.2M	$10.0M	20x	as long as short
Paradex CL-USD-PERP	+0.0013%	8h	92.764	−0.065%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0016%	1h	92.860	+0.038%	$2.1M	$25.5M	10x	as long as short
edgeX CLUSDC	+0.0035%	4h	92.691	−0.144%	$533K	$300K	30x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.884	+0.064%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.450	−0.403%	$723K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.810	−0.015%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.790	−0.037%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.825	+0.001%	$2.1M	$58K	20x	as long as short
KuCoin CLUSDTM	+0.0076%	4h	92.840	+0.017%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.783	−0.045%	$355K	$605K	10x	as long as short
ApeX Omni CLUSDTshort	+0.0100%	1h	92.780	−0.048%	$56K	$265K	50x
Aevo WTIOIL-PERP	+0.0104%	1h	92.782	−0.046%	$4K	—	10x	as long as short
Aftermath Perps WTIUSD	+0.0107%	1h	92.738	−0.093%	$2K	$28K	5x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.815	−0.010%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.69	+9.551%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0237%	4h	92.680	−0.155%	$4.0M	$1.2M	50x	as long as short