Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0038%/8h= +4.2% APRpaid last 24h +0.015%

Price spread now: OKX against Nado−0.102%49s7-day average +0.013% · 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−$220.225% of the position

Long on Nado Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.043%+$4 on $10k

Price spread, last 7 days+0.133%+$13 · spread now −0.102%, 7d avg +0.013%

Together, before fees+0.176%+ Points / potential airdropNado: Active · farm board+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.114% cheaper against Nado than usual: you would sell low and buy high (spread −0.102% now, against its 7-day average of +0.013%). If the spread goes back, that is −$11 on $10k: about 10 days of funding at the current rate (+$1 a day). The two prices were read 49 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	93.265	−0.0110	get 0.0014% / 1h	5m 42s	$955K	$613K	10x
Short	OKX CL-USDT-SWAP	93.170	−0.0072	pay 0.0036% / 4h	5m 42s	$42.6M	$103.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.102%Rate

Funding earned: $7.98
Price spread: −0.102% → +0.013%: −$11.42
Slippage, 4 orders: −$5.49
Fee Nado: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$25.93
Costs to cover: 0.225%
Break-even: 29.7 days

Slippage from Nado: live order book, 33 min ago; OKX: live order book, 3 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	0.48 bp	5.4 bp −$5	10.9 bp −$109	32.6 bp −$3,264	doesn't fit
Sell OKX live order book, 3 min ago	0.54 bp	6.6 bp −$7	7.1 bp −$71	15.4 bp −$1,541	111.0 bp −$55.5K

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	−0.0393%	1h	93.190	−0.080%	$194K	$398K	15x	as long as short
Aster CLUSD1	−0.0254%	4h	93.210	−0.059%	$24.8M	$62.1M	20x	as long as short
GRVT CL_USDT_Perp	−0.0230%	4h	93.059	−0.221%	$77K	$622K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0209%	1h	93.230	−0.037%	$275K	$931K	25x	as long as short
Binance CLUSDT	−0.0141%	4h	93.180	−0.091%	$246.7M	$922.4M	100x	as long as short
Gate CL_USDT	−0.0138%	8h	93.100	−0.177%	$23.2M	$50.7M	100x	as long as short
Variational Omni CL	−0.0130%	4h	93.192	−0.078%	$13.6M	$10.8M	—	as long as short
Nado WTI-PERPlong	−0.0110%	1h	93.265	long leg	$955K	$613K	10x
Bitget CLUSDT	−0.0102%	4h	93.176	−0.095%	$42.2M	$41.4M	100x	as long as short
Aftermath Perps WTIUSD	−0.0085%	1h	93.145	−0.129%	$1K	$26K	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-SWAPshort	−0.0072%	4h	93.170	−0.102%	$42.6M	$103.1M	50x
edgeX CLUSDC	−0.0042%	4h	93.256	−0.009%	$525K	$324K	30x	as long as short
QFEX CL-USD	−0.0038%	1h	93.150	−0.123%	$2.3M	$2.4M	10x	as long as short
tradeXYZ xyz:CL	−0.0017%	1h	93.171	−0.100%	$184.4M	$196.4M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.295%	$405K	$810K	15x	as long as short
Lighter WTI	−0.0008%	1h	93.164	−0.108%	$11.2M	$9.2M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0006%	1h	93.140	−0.134%	$3.6M	$5.3M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.210	−0.058%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.190	−0.080%	$26.9M	$79.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.201	−0.068%	$3.0M	$2.8M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.240	−0.027%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.217	−0.051%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.763	−0.538%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0011%	8h	93.142	−0.132%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.200	−0.069%	$1.7M	$15.0M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.290	+0.027%	$739K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.210	−0.059%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.222	−0.046%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.208	−0.061%	$2.1M	$62K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.180	−0.091%	$347K	$589K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.183	−0.088%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.120	−0.155%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.195	−0.074%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0163%	4h	93.250	−0.016%	$4.1M	$985K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.510%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0260% / S −0.0207%	1h	93.185	−0.085%	$84K	—	111x	as long as short