Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0064%/8h= +7.1% APRpaid last 24h +0.003%

Price spread now: Paradex against Coinbase International+0.162%7-day average — · you sell dearer than you buy

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

Long on Coinbase International Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Paradex is 0.162% dearer against Coinbase International than usual: you sell high and buy low: +$16 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WTIOIL-PERP-INTX	89.650	−0.0040	get 0.0005% / 1h	26m 59s	$409K	$1.4M	15x
Short	Paradex CL-USD-PERP	89.795	0.0024	get 0.0024% / 8h	5h 26m	$15K	$458	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Coinbase International. 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 Coinbase InternationalbpFee ParadexbpOrdersPrice spread, now +0.162%Rate

Funding earned: $13.54
Price spread: +0.162% → 0.000%: $16.18
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: $15.73
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Coinbase International: live order book, 5 min ago; Paradex: no order-book sample. 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 Coinbase International live order book, 5 min ago	2.22 bp	7.2 bp −$7	9.7 bp −$97	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CL on 36 exchanges

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
Kraken Futures PF_WTIOILUSD	−0.0340%	1h	89.807	+0.175%	$313K	$1.8M	25x	as long as short
GRVT CL_USDT_Perp	−0.0098%	4h	89.910	+0.290%	$61K	$643K	25x	as long as short
Aftermath Perps WTIUSD	−0.0096%	1h	89.797	+0.164%	$1K	$26K	5x	as long as short
Aster CLUSD1	−0.0092%	4h	89.870	+0.245%	$24.3M	$72.4M	20x	as long as short
Bitget CLUSDT	−0.0092%	4h	89.783	+0.148%	$40.9M	$55.8M	100x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0084%	1h	89.840	+0.212%	$39K	$651K	15x	as long as short
edgeX CLUSDC	−0.0058%	4h	89.823	+0.193%	$496K	$366K	30x	as long as short
tradeXYZ xyz:CL	−0.0054%	1h	89.779	+0.144%	$166.0M	$242.2M	20x	as long as short
Binance CLUSDT	−0.0052%	4h	89.810	+0.178%	$241.0M	$1.20B	100x	as long as short
Ondo Perps WTI-USD.P	−0.0043%	1h	89.750	+0.112%	$3.4M	$6.3M	20x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International WTIOIL-PERP-INTXlong	−0.0040%	1h	89.650	long leg	$409K	$1.4M	15x
Gate CL_USDT	−0.0037%	8h	89.760	+0.123%	$23.1M	$55.1M	100x	as long as short
Variational Omni CL	−0.0034%	4h	89.864	+0.239%	$12.7M	$11.2M	—	as long as short
Nado WTI-PERP	−0.0028%	1h	89.850	+0.224%	$880K	$688K	10x	as long as short
QFEX CL-USD	−0.0025%	1h	89.820	+0.190%	$2.2M	$2.6M	10x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	89.496	−0.172%	$609	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	89.847	+0.220%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	89.801	+0.168%	$27.8M	$109.2M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	89.730	+0.089%	$40.3M	$133.9M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	89.867	+0.242%	$2.8M	$3.1M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	89.850	+0.223%	$33K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	89.829	+0.199%	$17K	$235K	10x	as long as short
Extended WTI-USD	+0.0024%	1h	89.810	+0.178%	$1.4M	$14.0M	10x	as long as short
Paradex CL-USD-PERPshort	+0.0024%	8h	89.795	+0.162%	$15K	$458	5x
Lighter WTI	+0.0032%	1h	89.804	+0.172%	$10.6M	$10.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	89.830	+0.201%	$693K	$2.7M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	89.800	+0.167%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	89.776	+0.141%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	89.830	+0.201%	$2.0M	$83K	20x	as long as short
Pacifica CL	+0.0100%	1h	89.813	+0.182%	$301K	$739K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	89.799	+0.166%	$6.9M	$3.0M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	89.850	+0.223%	$52K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	89.811	+0.180%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0164% / S +0.0005%	1h	89.835	+0.206%	$75K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	90.137	+0.543%	$16K	$5K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	89.820	+0.190%	$3.9M	$1.0M	50x	as long as short