Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.014%

Price spread now: tradeXYZ against Binance−0.006%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$300.301% of the position

Long on Binance Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 7 days−0.015%−$2 · spread now −0.006%, 7d avg −0.031%

Together, before fees+0.043%+ Points / potential airdroptradeXYZ: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and tradeXYZ is 0.024% dearer against Binance than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CLUSDT	93.372	−0.0172	get 0.0086% / 4h	2h 07m	$245.8M	$931.1M	100x
Short	tradeXYZ xyz:CL	93.366	−0.0075	pay 0.0009% / 1h	7m 34s	$184.7M	$212.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.006%Rate

Funding earned: $20.33
Price spread: −0.006% → −0.031%: $2.42
Slippage, 4 orders: −$2.08
Fee Binance: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$7.33
Costs to cover: 0.301%
Break-even: 9.5 days

Slippage from Binance: live order book, 6 min ago; tradeXYZ: live order book, 12 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, 6 min ago	0.54 bp	5.5 bp −$6	5.5 bp −$55	9.5 bp −$954	22.7 bp −$11.3K
Sell tradeXYZ live order book, 12 min ago	0.38 bp	9.5 bp −$10	9.7 bp −$97	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	−0.0392%	1h	93.420	+0.051%	$196K	$377K	15x	as long as short
GRVT CL_USDT_Perp	−0.0280%	4h	93.511	+0.149%	$58K	$629K	25x	as long as short
Aster CLUSD1	−0.0278%	4h	93.400	+0.030%	$24.4M	$64.5M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.447	+0.080%	$285K	$959K	25x	as long as short
Binance CLUSDTlong	−0.0172%	4h	93.372	long leg	$245.8M	$931.1M	100x
Variational Omni CL	−0.0165%	4h	93.509	+0.146%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0157%	1h	93.443	+0.076%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0120%	4h	93.340	−0.034%	$42.1M	$42.7M	100x	as long as short
Nado WTI-PERP	−0.0112%	1h	93.450	+0.084%	$972K	$630K	10x	as long as short
Gate CL_USDT	−0.0081%	8h	93.300	−0.077%	$22.0M	$50.3M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps WTI-USD.P	−0.0078%	1h	93.330	−0.045%	$3.5M	$5.4M	20x	as long as short
tradeXYZ xyz:CLshort	−0.0075%	1h	93.366	−0.006%	$184.7M	$212.2M	20x
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.500	+0.137%	$404K	$931K	15x	as long as short
OKX CL-USDT-SWAP	−0.0037%	4h	93.350	−0.024%	$42.6M	$102.3M	50x	as long as short
QFEX CL-USD	−0.0032%	1h	93.360	−0.013%	$2.3M	$2.5M	10x	as long as short
edgeX CLUSDC	−0.0020%	4h	93.498	+0.135%	$526K	$305K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	93.405	+0.036%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.386	+0.015%	$27.0M	$79.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.415	+0.046%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.540	+0.180%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.430	+0.062%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.988	−0.411%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0020%	8h	93.335	−0.039%	$16K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	93.355	−0.018%	$11.2M	$9.9M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.380	+0.009%	$2.0M	$16.8M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.450	+0.084%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.410	+0.041%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.366	−0.006%	$332K	$577K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.405	+0.035%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.445	+0.078%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0092%	4h	93.406	+0.036%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.580	+0.223%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.420	+0.051%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0199%	4h	93.420	+0.051%	$4.0M	$989K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.64	+9.931%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0240% / S −0.0173%	1h	93.445	+0.078%	$84K	—	111x	as long as short