CL

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0404%/8h= −44.2% APRnext payment −$0.50 per $10,000 · paid last 24h −0.041%

Price spread now: Deribit against Nado−0.087%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−$180.184% of the position

Long on Nado Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.027%+$3 on $10k

Price spread, last 4 days (all we have)−0.273%−$27 · spread now −0.087%, 7d avg −0.023%

Together, before fees−0.246%+ Points / potential airdropNado: Active · farm board−$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Deribit is 0.064% 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.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.027% in total (about 2.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.50 per $10,000. 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	Nado WTI-PERP	92.851	−0.0100	get 0.0013% / 1h	36m 22s	$950K	$604K	10x
Short	Deribit WTIOIL_USDC-PERPETUAL	92.770	−0.0504	pay 0.0063% / 1h	36m 22s	$187K	$409K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.087%Rate

Funding earned: −$84.84
Price spread: −0.087% → −0.023%: −$6.42
Slippage, 4 orders: −$4.44
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$109.7
Costs to cover: 0.184%
Break-even: never at this rate

Slippage from Nado: live order book, 62 min ago; Deribit: live order book, 62 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, 62 min ago	0.48 bp	5.4 bp −$5	10.9 bp −$109	32.6 bp −$3,264	doesn't fit
Sell Deribit live order book, 62 min ago	0.54 bp	4.0 bp −$4	7.8 bp −$78	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-PERPETUALshort	−0.0504%	1h	92.770	−0.087%	$187K	$409K	15x
Kraken Futures PF_WTIOILUSD	−0.0314%	1h	92.830	−0.023%	$269K	$928K	25x	as long as short
Aster CLUSD1	−0.0227%	4h	92.829	−0.024%	$24.8M	$60.5M	20x	as long as short
Gate CL_USDT	−0.0226%	8h	92.740	−0.120%	$23.4M	$49.4M	100x	as long as short
Binance CLUSDT	−0.0129%	4h	92.805	−0.050%	$245.2M	$931.7M	100x	as long as short
Variational Omni CL	−0.0117%	4h	92.920	+0.074%	$13.5M	$10.7M	—	as long as short
GRVT CL_USDT_Perp	−0.0104%	4h	92.790	−0.066%	$75K	$624K	25x	as long as short
Nado WTI-PERPlong	−0.0100%	1h	92.851	long leg	$950K	$604K	10x
Bitget CLUSDT	−0.0080%	4h	92.785	−0.071%	$42.0M	$41.7M	100x	as long as short
Aftermath Perps WTIUSD	−0.0076%	1h	92.904	+0.057%	$2K	$27K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAP	−0.0049%	4h	92.790	−0.066%	$42.5M	$102.6M	50x	as long as short
QFEX CL-USD	−0.0026%	1h	92.830	−0.023%	$2.3M	$2.4M	10x	as long as short
tradeXYZ xyz:CL	−0.0016%	1h	92.819	−0.035%	$184.2M	$191.5M	20x	as long as short
edgeX CLUSDC	−0.0007%	4h	92.845	−0.006%	$542K	$342K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	92.843	−0.009%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.810	−0.044%	$27.4M	$80.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.851	0.000%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.831	−0.022%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.385	−0.502%	$5K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.930	+0.085%	$37K	$39K	20x	as long as short
Paradex CL-USD-PERP	+0.0014%	8h	92.827	−0.026%	$16K	$367	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	93.160	+0.333%	$404K	$794K	15x	as long as short
Ondo Perps WTI-USD.P	+0.0027%	1h	92.780	−0.077%	$3.6M	$5.2M	20x	as long as short
Lighter WTI	+0.0032%	1h	92.817	−0.037%	$11.3M	$8.8M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.810	−0.044%	$1.7M	$14.4M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.910	+0.063%	$732K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.830	−0.023%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.849	−0.002%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.793	−0.063%	$2.1M	$69K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.844	−0.008%	$346K	$589K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.859	+0.008%	$7.0M	$2.5M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.840	−0.012%	$54K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.769	−0.088%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0166% / S 0.0000%	1h	92.785	−0.071%	$85K	—	111x	as long as short
BloFin CL-USDT	+0.0191%	4h	92.840	−0.012%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.998%	$19K	$5K	30x	as long as short