Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0291%/8h= −31.9% APRpaid last 24h −0.027%

Price spread now: Binance against Extended−0.022%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$180.184% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.199%−$20 on $10k

Price spread, last 2 days (all we have)+0.014%+$1 · spread now −0.022%, 7d avg −0.006%

Together, before fees−0.185%+ Points / potential airdropExtended: Active · farm board−$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.006%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.199% in total (about -10.4% 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	Extended WTI-USD	92.760	0.0008	pay 0.0001% / 1h	0m 37s	$2.3M	$25.5M	10x
Short	Binance CLUSDT	92.740	−0.0283	pay 0.0142% / 4h	3h 00m	$244.7M	$1.02B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Extended. 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 ExtendedbpFee BinancebpOrdersPrice spread, now −0.022%Rate

Funding earned: −$61.18
Price spread: −0.022% → −0.006%: −$1.57
Slippage, 4 orders: −$3.42
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$81.18
Costs to cover: 0.184%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; Binance: live order book, 13 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 Extended live order book, 3 min ago	0.05 bp	2.7 bp −$3	5.7 bp −$57	21.6 bp −$2,158	doesn't fit
Sell Binance live order book, 13 min ago	0.54 bp	5.5 bp −$6	5.5 bp −$55	8.6 bp −$863	22.3 bp −$11.1K

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
GRVT CL_USDT_Perp	−0.0346%	4h	92.649	−0.120%	$58K	$630K	25x	as long as short
Aster CLUSD1	−0.0339%	4h	92.740	−0.022%	$24.0M	$75.0M	20x	as long as short
Binance CLUSDTshort	−0.0283%	4h	92.740	−0.022%	$244.7M	$1.02B	100x
Variational Omni CL	−0.0273%	4h	92.659	−0.109%	$13.3M	$11.4M	—	as long as short
Gate CL_USDT	−0.0187%	8h	92.650	−0.119%	$21.3M	$55.7M	100x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0181%	1h	92.670	−0.097%	$123K	$274K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.695	−0.071%	$275K	$912K	25x	as long as short
Ondo Perps WTI-USD.P	−0.0051%	1h	92.670	−0.097%	$3.5M	$5.9M	20x	as long as short
Nado WTI-PERP	−0.0050%	1h	92.782	+0.024%	$935K	$701K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.787%	$399K	$956K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0040%	1h	92.710	−0.054%	$2.5M	$1.7M	10x	as long as short
tradeXYZ xyz:CL	−0.0031%	1h	92.668	−0.099%	$185.9M	$233.7M	20x	as long as short
OKX CL-USDT-SWAP	−0.0003%	4h	92.720	−0.043%	$42.9M	$108.5M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.742	−0.020%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.730	−0.032%	$26.4M	$87.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.851	+0.098%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.734	−0.028%	$42.2M	$47.9M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.740	−0.022%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.676	−0.091%	$18K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.220	−0.582%	$5K	—	150x	as long as short
Extended WTI-USDlong	+0.0008%	1h	92.760	long leg	$2.3M	$25.5M	10x
Paradex CL-USD-PERP	+0.0012%	8h	92.701	−0.064%	$15K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	92.674	−0.093%	$11.2M	$10.3M	20x	as long as short
edgeX CLUSDC	+0.0035%	4h	92.691	−0.074%	$533K	$300K	30x	as long as short
StandX CL-USD	+0.0040%	1h	92.360	−0.431%	$722K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.720	−0.043%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.735	−0.027%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.668	−0.099%	$2.1M	$59K	20x	as long as short
KuCoin CLUSDTM	+0.0078%	4h	92.706	−0.058%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.699	−0.066%	$354K	$605K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.780	+0.022%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.640	−0.129%	$4K	—	10x	as long as short
Aftermath Perps WTIUSD	+0.0118%	1h	92.701	−0.063%	$2K	$28K	5x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.675	−0.092%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.69	+9.627%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0238%	4h	92.660	−0.108%	$4.0M	$1.2M	50x	as long as short