Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0267%/8h= +29.2% APRpaid last 24h +0.089%

Price spread now: BloFin against Nado−0.086%823s7-day average −0.041% · 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—prices read too far apart to compare

costs, in and out, $10k−$250.251% of the position

Long on Nado Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.279%+$28 on $10k

Price spread, last 3 days (all we have)−0.007%−$1 · spread now −0.086%, 7d avg −0.041%

Together, before fees+0.273%+ Points / potential airdropNado: Active · farm board+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.046% cheaper against Nado than usual: you would sell low and buy high (spread −0.086% now, against its 7-day average of −0.041%). If the spread goes back, that is −$5 on $10k: about 14 hours of funding at the current rate (+$8 a day). The two prices were read 823 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado WTI-PERP	92.810	−0.0039	get 0.0005% / 1h	35m 19s	$936K	$676K	10x
Short	BloFin CL-USDT	92.730	0.0228	get 0.0114% / 4h	2h 35m	$4.0M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.086%Rate

Funding earned: $56.02
Price spread: −0.086% → −0.041%: −$4.57
Slippage, 4 orders: −$6.06
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $26.4
Costs to cover: 0.251%
Break-even: 3.7 days

Slippage from Nado: live order book, 33 min ago; BloFin: 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 Nado live order book, 33 min ago	0.05 bp	4.1 bp −$4	6.8 bp −$68	27.2 bp −$2,717	doesn't fit
Sell BloFin live order book, 13 min ago	1.08 bp	7.1 bp −$7	9.1 bp −$91	13.6 bp −$1,361	33.3 bp −$16.6K

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	−0.0612%	1h	92.740	−0.075%	$198K	$366K	15x	as long as short
Aster CLUSD1	−0.0329%	4h	92.780	−0.032%	$23.9M	$74.4M	20x	as long as short
GRVT CL_USDT_Perp	−0.0296%	4h	92.686	−0.134%	$50K	$633K	25x	as long as short
Binance CLUSDT	−0.0272%	4h	92.760	−0.054%	$244.3M	$990.1M	100x	as long as short
Variational Omni CL	−0.0265%	4h	92.761	−0.053%	$13.3M	$11.1M	—	as long as short
Gate CL_USDT	−0.0153%	8h	92.710	−0.108%	$20.9M	$53.1M	100x	as long as short
tradeXYZ xyz:CL	−0.0068%	1h	92.771	−0.042%	$185.0M	$221.7M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0065%	1h	92.730	−0.086%	$3.5M	$5.7M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.030	−0.840%	$399K	$939K	15x	as long as short
Nado WTI-PERPlong	−0.0039%	1h	92.810	long leg	$936K	$676K	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.800	−0.011%	$275K	$870K	25x	as long as short
QFEX CL-USD	−0.0033%	1h	92.740	−0.075%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0010%	4h	92.750	−0.065%	$42.8M	$106.0M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.754	−0.061%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.770	−0.043%	$26.3M	$82.9M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.764	−0.050%	$41.9M	$45.8M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.820	+0.011%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.775	−0.038%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.309	−0.540%	$5K	—	150x	as long as short
edgeX CLUSDC	+0.0018%	4h	92.721	−0.096%	$533K	$297K	30x	as long as short
Paradex CL-USD-PERP	+0.0024%	8h	92.755	−0.059%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0024%	1h	92.800	−0.011%	$2.1M	$25.0M	10x	as long as short
Lighter WTI	+0.0032%	1h	92.760	−0.054%	$11.2M	$10.2M	20x	as long as short
Aftermath Perps WTIUSD	+0.0034%	1h	92.757	−0.057%	$2K	$28K	5x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.887	+0.083%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.350	−0.496%	$726K	$3.0M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.800	−0.011%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.775	−0.038%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.779	−0.033%	$2.1M	$61K	20x	as long as short
KuCoin CLUSDTM	+0.0068%	4h	92.800	−0.011%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.763	−0.051%	$331K	$616K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.840	+0.032%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.717	−0.101%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.755	−0.059%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.83	+9.722%	$19K	$11K	30x	as long as short
BloFin CL-USDTshort	+0.0228%	4h	92.730	−0.086%	$4.0M	$1.2M	50x