Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0238%/8h= +26.0% APRpaid last 24h +0.033%

Price spread now: SoDEX against Binance−0.006%7-day average −0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$500.499% of the position

Long on Binance Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.074%+$7 on $10k

Price spread, last 4 days (all we have)−0.053%−$5 · spread now −0.006%, 7d avg −0.050%

Together, before fees+0.021%+$2 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 SoDEX is 0.043% dearer against Binance than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.050%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.074% in total (about 8.1% 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	Binance CLUSDT	92.870	−0.0188	get 0.0094% / 4h	5m 54s	$244.4M	$944.6M	100x
Short	SoDEX CL-USD	92.864	0.0050	get 0.0006% / 1h	5m 54s	$2.1M	$60K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.006%Rate

Funding earned: $49.95
Price spread: −0.006% → −0.050%: $4.32
Slippage, 4 orders: −$31.89
Fee Binance: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $4.38
Costs to cover: 0.499%
Break-even: 6.4 days

Slippage from Binance: live order book, 8 min ago; SoDEX: 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, 8 min ago	0.54 bp	5.5 bp −$6	6.0 bp −$60	9.4 bp −$936	23.2 bp −$11.6K
Sell SoDEX live order book, 3 min ago	1.02 bp	19.3 bp −$19	97.5 bp −$975	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	−0.0611%	1h	92.820	−0.054%	$198K	$370K	15x	as long as short
Aster CLUSD1	−0.0274%	4h	92.877	+0.007%	$24.0M	$66.4M	20x	as long as short
GRVT CL_USDT_Perp	−0.0246%	4h	92.887	+0.019%	$64K	$648K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0196%	1h	92.872	+0.002%	$272K	$874K	25x	as long as short
Binance CLUSDTlong	−0.0188%	4h	92.870	long leg	$244.4M	$944.6M	100x
Variational Omni CL	−0.0179%	4h	92.839	−0.034%	$13.5M	$10.8M	—	as long as short
Bitget CLUSDT	−0.0130%	4h	92.862	−0.009%	$42.0M	$43.5M	100x	as long as short
tradeXYZ xyz:CL	−0.0116%	1h	92.852	−0.019%	$187.8M	$216.5M	20x	as long as short
Aftermath Perps WTIUSD	−0.0106%	1h	92.906	+0.039%	$2K	$27K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0091%	1h	92.810	−0.065%	$3.5M	$5.4M	20x	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	−0.0058%	4h	92.860	−0.011%	$42.5M	$102.6M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.129%	$402K	$944K	15x	as long as short
Gate CL_USDT	−0.0046%	8h	92.800	−0.075%	$20.8M	$52.3M	100x	as long as short
QFEX CL-USD	−0.0043%	1h	92.850	−0.022%	$2.3M	$1.8M	10x	as long as short
Nado WTI-PERP	−0.0036%	1h	92.920	+0.054%	$962K	$647K	10x	as long as short
KuCoin CLUSDTM	−0.0032%	4h	92.863	−0.008%	$7.1M	$2.4M	50x	as long as short
edgeX CLUSDC	−0.0003%	4h	92.895	+0.027%	$526K	$303K	30x	as long as short
Lighter WTI	0.0000%	1h	92.861	−0.010%	$11.2M	$10.6M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.937	+0.072%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.855	−0.016%	$26.6M	$80.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.924	+0.059%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.940	+0.075%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.858	−0.013%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.435	−0.468%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0004%	8h	92.838	−0.035%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	92.910	+0.043%	$2.0M	$20.3M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.860	−0.011%	$734K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.880	+0.011%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.860	−0.011%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USDshort	+0.0050%	1h	92.864	−0.006%	$2.1M	$60K	20x
Pacifica CL	+0.0068%	1h	92.862	−0.009%	$330K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.950	+0.086%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.833	−0.040%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0182%	4h	92.880	+0.011%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0217% / S −0.0144%	1h	92.855	−0.016%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.25	+10.101%	$19K	$11K	30x	as long as short