Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0185%/8h= +20.3% APRpaid last 24h +0.035%

Price spread now: Extended against Binance+0.095%7-day average −0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs+$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4as in the Price arb table

costs, in and out, $10k−$180.183% of the position

Long on Binance Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.202%+$20 on $10k

Price spread, last 7 days−0.146%−$15 · spread now +0.095%, 7d avg −0.045%

Together, before fees+0.056%+ Points / potential airdropExtended: Active · farm board+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Extended is 0.140% dearer against Binance than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CLUSDT	93.511	−0.0153	get 0.0077% / 4h	1h 15m	$247.6M	$917.9M	100x
Short	Extended WTI-USD	93.600	0.0032	get 0.0004% / 1h	15m 49s	$2.0M	$15.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.095%Rate

Funding earned: $38.95
Price spread: +0.095% → −0.045%: $14
Slippage, 4 orders: −$3.3
Fee Binance: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $34.66
Costs to cover: 0.183%
Break-even: 0.8 days

Slippage from Binance: live order book, 13 min ago; Extended: live order book, 3 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, 13 min ago	0.53 bp	5.5 bp −$6	5.5 bp −$55	7.4 bp −$741	20.6 bp −$10.3K
Sell Extended live order book, 3 min ago	0.54 bp	3.2 bp −$3	6.6 bp −$66	25.0 bp −$2,495	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	−0.0498%	1h	93.520	+0.010%	$196K	$385K	15x	as long as short
Aster CLUSD1	−0.0285%	4h	93.555	+0.047%	$24.6M	$65.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0278%	4h	93.509	−0.002%	$58K	$618K	25x	as long as short
Binance CLUSDTlong	−0.0153%	4h	93.511	long leg	$247.6M	$917.9M	100x
Variational Omni CL	−0.0143%	4h	93.519	+0.008%	$13.3M	$10.7M	—	as long as short
Aftermath Perps WTIUSD	−0.0139%	1h	93.592	+0.086%	$2K	$26K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0137%	1h	93.570	+0.063%	$282K	$961K	25x	as long as short
Ondo Perps WTI-USD.P	−0.0130%	1h	93.520	+0.010%	$3.5M	$5.3M	20x	as long as short
Gate CL_USDT	−0.0118%	8h	93.480	−0.033%	$22.6M	$50.1M	100x	as long as short
Bitget CLUSDT	−0.0114%	4h	93.514	+0.003%	$42.3M	$42.2M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0080%	1h	93.511	0.000%	$184.8M	$205.1M	20x	as long as short
Nado WTI-PERP	−0.0057%	1h	93.608	+0.104%	$965K	$619K	10x	as long as short
OKX CL-USDT-SWAP	−0.0037%	4h	93.500	−0.012%	$42.8M	$101.9M	50x	as long as short
QFEX CL-USD	−0.0023%	1h	93.560	+0.052%	$2.3M	$2.4M	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0008%	1h	93.500	−0.012%	$404K	$916K	15x	as long as short
edgeX CLUSDC	0.0000%	4h	93.551	+0.043%	$526K	$306K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	93.562	+0.055%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.510	−0.001%	$26.8M	$79.1M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.599	+0.094%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.620	+0.117%	$37K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.568	+0.061%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.141	−0.396%	$5K	—	150x	as long as short
Lighter WTI	+0.0008%	1h	93.507	−0.004%	$11.3M	$9.7M	20x	as long as short
Paradex CL-USD-PERP	+0.0016%	8h	93.554	+0.046%	$16K	$367	5x	as long as short
Extended WTI-USDshort	+0.0032%	1h	93.600	+0.095%	$2.0M	$15.3M	10x
StandX CL-USD	+0.0040%	1h	93.620	+0.117%	$742K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.570	+0.063%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.556	+0.048%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.540	+0.031%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.507	−0.004%	$333K	$573K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.583	+0.077%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.660	+0.159%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.536	+0.026%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0207%	4h	93.570	+0.063%	$4.0M	$970K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.82	+9.954%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0248% / S −0.0182%	1h	93.555	+0.047%	$84K	—	111x	as long as short