Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0361%/8h= +39.5% APRpaid last 24h +0.022%

Price spread now: Variational Omni against Deribit+0.009%7-day average −0.027% · you sell dearer than you buy

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

Long on Deribit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.030%+$3 · spread now +0.009%, 7d avg −0.027%

Together, before fees+0.032%+ Points / potential airdropVariational Omni: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Variational Omni is 0.036% dearer against Deribit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.027%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.003% in total (about 0.3% 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	Deribit WTIOIL_USDC-PERPETUAL	93.620	−0.0497	get 0.0062% / 1h	22m 47s	$197K	$383K	15x
Short	Variational Omni CL	93.629	−0.0136	pay 0.0068% / 4h	1h 22m	$13.5M	$10.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Deribit. 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 DeribitbpFee Variational OmnibpOrdersPrice spread, now +0.009%Rate

Funding earned: $75.79
Price spread: +0.009% → −0.027%: $3.62
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $72.41
Costs to cover: 0.070%
Break-even: 0.3 days

Slippage unknown: Deribit: live order book, 21 min ago; Variational Omni: RFQ quote, 1 min ago. 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 Deribit live order book, 21 min ago	0.53 bp	6.2 bp −$6	8.6 bp −$86	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	2.26 bp	doesn't fit	3.0 bp −$30	5.9 bp −$593	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-PERPETUALlong	−0.0497%	1h	93.620	long leg	$197K	$383K	15x
Aster CLUSD1	−0.0275%	4h	93.654	+0.036%	$24.6M	$65.2M	20x	as long as short
GRVT CL_USDT_Perp	−0.0262%	4h	93.658	+0.040%	$58K	$618K	25x	as long as short
Binance CLUSDT	−0.0148%	4h	93.620	0.000%	$247.0M	$916.7M	100x	as long as short
Aftermath Perps WTIUSD	−0.0142%	1h	93.649	+0.031%	$2K	$26K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0137%	1h	93.666	+0.049%	$283K	$960K	25x	as long as short
Variational Omni CLshort	−0.0136%	4h	93.629	+0.009%	$13.5M	$10.6M	—
Ondo Perps WTI-USD.P	−0.0125%	1h	93.600	−0.021%	$3.5M	$5.3M	20x	as long as short
Gate CL_USDT	−0.0111%	8h	93.530	−0.096%	$22.5M	$49.5M	100x	as long as short
Bitget CLUSDT	−0.0104%	4h	93.591	−0.031%	$42.3M	$42.0M	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	−0.0079%	1h	93.613	−0.007%	$185.1M	$205.0M	20x	as long as short
Nado WTI-PERP	−0.0056%	1h	93.707	+0.093%	$966K	$620K	10x	as long as short
edgeX CLUSDC	−0.0037%	4h	93.643	+0.025%	$526K	$305K	30x	as long as short
QFEX CL-USD	−0.0023%	1h	93.640	+0.021%	$2.3M	$2.4M	10x	as long as short
OKX CL-USDT-SWAP	−0.0022%	4h	93.590	−0.032%	$42.9M	$101.8M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0008%	1h	93.500	−0.128%	$404K	$916K	15x	as long as short
dYdX WTI-USD	0.0000%	1h	93.649	+0.031%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.617	−0.003%	$26.9M	$78.9M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.701	+0.087%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.730	+0.117%	$37K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.663	+0.046%	$19K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.206	−0.442%	$5K	—	150x	as long as short
Lighter WTI	+0.0016%	1h	93.604	−0.017%	$11.3M	$9.6M	20x	as long as short
Paradex CL-USD-PERP	+0.0021%	8h	93.633	+0.013%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.640	+0.021%	$2.0M	$15.5M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.680	+0.064%	$742K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.670	+0.053%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.648	+0.030%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.610	−0.011%	$2.1M	$61K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.643	+0.024%	$333K	$574K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.656	+0.038%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.750	+0.139%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.619	−0.001%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0220%	4h	93.650	+0.032%	$4.0M	$971K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.97	+9.990%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0247% / S −0.0181%	1h	93.655	+0.037%	$84K	—	111x	as long as short