Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0170%/8h= −18.6% APRpaid last 24h −0.022%

Price spread now: Aster against Nado−0.034%7-day average +0.023% · 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−$25as in the Price arb table

costs, in and out, $10k−$190.188% of the position

Long on Nado Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.030%+$3 on $10k

Price spread, last 7 days+0.086%+$9 · spread now −0.034%, 7d avg +0.023%

Together, before fees+0.116%+ Points / potential airdropNado: Active · Aster: Stage 5 · farm board+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Aster is 0.058% cheaper against Nado than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.023%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado WTI-PERP	93.458	−0.0105	get 0.0013% / 1h	4m 05s	$971K	$630K	10x
Short	Aster CLUSD1	93.426	−0.0274	pay 0.0137% / 4h	2h 04m	$24.4M	$64.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Nado. 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 NadobpFee AsterbpOrdersPrice spread, now −0.034%Rate

Funding earned: −$35.63
Price spread: −0.034% → +0.023%: −$5.76
Slippage, 4 orders: −$3.81
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$60.2
Costs to cover: 0.188%
Break-even: never at this rate

Slippage from Nado: live order book, 44 min ago; Aster: live order book, 5 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 Nado live order book, 44 min ago	0.05 bp	5.0 bp −$5	10.5 bp −$105	32.0 bp −$3,204	doesn't fit
Sell Aster live order book, 5 min ago	0.54 bp	4.5 bp −$5	4.5 bp −$45	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	−0.0285%	1h	93.390	−0.073%	$196K	$377K	15x	as long as short
Aster CLUSD1short	−0.0274%	4h	93.426	−0.034%	$24.4M	$64.5M	20x
GRVT CL_USDT_Perp	−0.0274%	4h	93.368	−0.097%	$58K	$629K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.437	−0.022%	$285K	$959K	25x	as long as short
Binance CLUSDT	−0.0169%	4h	93.400	−0.062%	$246.3M	$931.2M	100x	as long as short
Variational Omni CL	−0.0163%	4h	93.349	−0.117%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0148%	1h	93.406	−0.056%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0120%	4h	93.382	−0.081%	$42.1M	$42.7M	100x	as long as short
Nado WTI-PERPlong	−0.0105%	1h	93.458	long leg	$971K	$630K	10x
Gate CL_USDT	−0.0083%	8h	93.330	−0.137%	$22.1M	$50.4M	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	−0.0077%	1h	93.310	−0.158%	$3.5M	$5.4M	20x	as long as short
tradeXYZ xyz:CL	−0.0076%	1h	93.380	−0.083%	$184.8M	$212.3M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.500	+0.045%	$404K	$931K	15x	as long as short
OKX CL-USDT-SWAP	−0.0037%	4h	93.410	−0.051%	$42.6M	$101.9M	50x	as long as short
QFEX CL-USD	−0.0032%	1h	93.400	−0.062%	$2.3M	$2.5M	10x	as long as short
edgeX CLUSDC	−0.0001%	4h	93.375	−0.088%	$525K	$306K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	93.405	−0.056%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.420	−0.041%	$27.0M	$79.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.463	+0.006%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.540	+0.088%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.422	−0.039%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.961	−0.532%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0021%	8h	93.393	−0.069%	$16K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	93.413	−0.048%	$11.3M	$10.0M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.450	−0.009%	$2.0M	$16.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.410	−0.051%	$739K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.400	−0.062%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.407	−0.055%	$332K	$577K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.403	−0.059%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.418	−0.043%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0098%	4h	93.430	−0.030%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.460	+0.002%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.384	−0.079%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0202%	4h	93.370	−0.094%	$4.0M	$988K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.64	+9.830%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0241% / S −0.0174%	1h	93.415	−0.046%	$84K	—	111x	as long as short