Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0539%/8h= −59.0% APRpaid last 24h −0.023%

Price spread now: Deribit against Paradex+0.020%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Deribit is 0.020% dearer against Paradex than usual: you sell high and buy low (spread +0.020% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 3 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CL-USD-PERP	92.881	0.0036	pay 0.0036% / 8h	5h 51m	$16K	$367	5x
Short	Deribit WTIOIL_USDC-PERPETUAL	92.900	−0.0503	pay 0.0063% / 1h	51m 50s	$198K	$369K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Paradex. 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 ParadexbpFee DeribitbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$113.13
Price spread: +0.020% → 0.000%: $2.01
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$122.13
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Deribit: live order book, 12 min ago. Net counts fees only.

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 Paradex no order-book sample	—	—	—	—	—
Sell Deribit live order book, 12 min ago	0.54 bp	4.0 bp −$4	7.1 bp −$71	doesn't fit	doesn't fit

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CL on 35 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	−0.0503%	1h	92.900	+0.020%	$198K	$369K	15x
Aster CLUSD1	−0.0240%	4h	92.940	+0.063%	$24.0M	$70.8M	20x	as long as short
GRVT CL_USDT_Perp	−0.0210%	4h	92.871	−0.011%	$61K	$633K	25x	as long as short
Binance CLUSDT	−0.0206%	4h	92.945	+0.068%	$244.7M	$959.4M	100x	as long as short
Variational Omni CL	−0.0203%	4h	92.860	−0.023%	$13.5M	$11.1M	—	as long as short
Nado WTI-PERP	−0.0114%	1h	92.926	+0.048%	$962K	$668K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0102%	1h	92.810	−0.077%	$3.5M	$5.6M	20x	as long as short
Gate CL_USDT	−0.0096%	8h	92.880	−0.001%	$20.9M	$52.2M	100x	as long as short
edgeX CLUSDC	−0.0077%	4h	92.864	−0.018%	$529K	$302K	30x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.141%	$402K	$944K	15x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0039%	1h	92.927	+0.049%	$184.8M	$218.5M	20x	as long as short
QFEX CL-USD	−0.0032%	1h	92.880	−0.001%	$2.5M	$1.7M	10x	as long as short
Aftermath Perps WTIUSD	−0.0014%	1h	92.895	+0.015%	$2K	$28K	5x	as long as short
OKX CL-USDT-SWAP	−0.0006%	4h	92.930	+0.052%	$42.8M	$102.4M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.909	+0.029%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.970	+0.095%	$26.9M	$81.1M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.937	+0.060%	$41.9M	$43.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.880	−0.001%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.946	+0.070%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.490	−0.421%	$5K	—	150x	as long as short
Lighter WTI	+0.0024%	1h	92.936	+0.059%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.980	+0.106%	$2.1M	$23.4M	10x	as long as short
Paradex CL-USD-PERPlong	+0.0036%	8h	92.881	long leg	$16K	$367	5x
StandX CL-USD	+0.0040%	1h	92.340	−0.583%	$726K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.950	+0.074%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.957	+0.081%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.927	+0.049%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	93.007	+0.136%	$3.3M	$2.7M	20x	as long as short
KuCoin CLUSDTM	+0.0080%	4h	92.935	+0.058%	$7.3M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.888	+0.007%	$332K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.870	−0.012%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.900	+0.020%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.963	+0.088%	$274K	$882K	25x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.935	+0.058%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.15	+9.976%	$19K	$11K	30x	as long as short