Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0105%/8h= +11.5% APRpaid last 24h +0.025%

Price spread now: edgeX against Nado−0.176%62s7-day average −0.035% · 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−$390.386% of the position

Long on Nado Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.006%+$1 on $10k

Price spread, last 3 days (all we have)+0.115%+$12 · spread now −0.176%, 7d avg −0.035%

Together, before fees+0.122%+ Points / potential airdropNado: Active · edgeX: Active · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.141% cheaper against Nado than usual: you would sell low and buy high (spread −0.176% now, against its 7-day average of −0.035%). If the spread goes back, that is −$14 on $10k: about 4.5 days of funding at the current rate (+$3 a day). At the pace of the last 3 days (+0.006% in total) that is about 2 months. The two prices were read 62 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	92.708	−0.0063	get 0.0008% / 1h	22m 29s	$934K	$731K	10x
Short	edgeX CLUSDC	92.545	0.0041	get 0.0021% / 4h	3h 22m	$532K	$299K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.176%Rate

Funding earned: $21.97
Price spread: −0.176% → −0.035%: −$14.07
Slippage, 4 orders: −$22.56
Fee Nado: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$30.66
Costs to cover: 0.386%
Break-even: 16.8 days

Slippage from Nado: live order book, 51 min ago; edgeX: live order book, 51 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, 51 min ago	0.05 bp	5.9 bp −$6	9.2 bp −$92	31.1 bp −$3,110	doesn't fit
Sell edgeX live order book, 51 min ago	9.98 bp	14.5 bp −$14	14.9 bp −$149	21.4 bp −$2,139	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	−0.0398%	1h	92.600	−0.116%	$123K	$275K	15x	as long as short
GRVT CL_USDT_Perp	−0.0346%	4h	92.524	−0.198%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0333%	4h	92.672	−0.038%	$24.0M	$78.4M	20x	as long as short
Binance CLUSDT	−0.0273%	4h	92.682	−0.028%	$245.5M	$1.06B	100x	as long as short
Variational Omni CL	−0.0265%	4h	92.480	−0.246%	$13.1M	$12.2M	—	as long as short
Gate CL_USDT	−0.0214%	8h	92.620	−0.095%	$21.3M	$55.2M	100x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.629	−0.085%	$274K	$1.1M	25x	as long as short
Nado WTI-PERPlong	−0.0063%	1h	92.708	long leg	$934K	$731K	10x
Ondo Perps WTI-USD.P	−0.0047%	1h	92.590	−0.127%	$3.5M	$6.1M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.731%	$399K	$959K	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	92.640	−0.073%	$2.4M	$2.1M	10x	as long as short
tradeXYZ xyz:CL	−0.0025%	1h	92.675	−0.035%	$186.5M	$236.3M	20x	as long as short
Paradex CL-USD-PERP	−0.0003%	8h	92.608	−0.108%	$15K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	92.657	−0.055%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.710	+0.002%	$26.5M	$92.1M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.670	−0.041%	$43.0M	$111.3M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.771	+0.068%	$3.3M	$2.8M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.689	−0.020%	$42.2M	$50.7M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.600	−0.116%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.679	−0.031%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.241	−0.503%	$5K	—	150x	as long as short
Lighter WTI	+0.0016%	1h	92.619	−0.096%	$11.2M	$10.1M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.660	−0.052%	$2.3M	$26.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.370	−0.364%	$722K	$3.1M	40x	as long as short
edgeX CLUSDCshort	+0.0041%	4h	92.545	−0.176%	$532K	$299K	30x
Vest CL-PERP	+0.0046%	1h	92.680	−0.030%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.690	−0.019%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.618	−0.097%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.621	−0.094%	$356K	$603K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.694	−0.015%	$7.2M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.560	−0.159%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.580	−0.138%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.615	−0.100%	$78K	—	111x	as long as short
Aftermath Perps WTIUSD	+0.0212%	1h	92.563	−0.156%	$2K	$28K	5x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.56	+9.544%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.510	−0.213%	$4.0M	$1.4M	50x	as long as short