Funding you earn now, next payment 00:00 UTC−0.0065%/8h= −7.1% APRnext payment −$0.08 per $10,000 · paid last 24h −0.018%
Price spread now: Nado against Phoenix+0.105%57s7-day average −0.005% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.119%−$12 on $10k
+Price spread, last 3 days (all we have)−0.113%−$11 · spread now +0.105%, 7d avg −0.005%
=Together, before fees−0.232%+ Points / potential airdropNado: Active · farm board−$23 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Nado is 0.110% dearer against Phoenix than usual: you sell high and buy low (spread +0.105% now, against its 7-day average of −0.005%): +$11 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.6 days. The two prices were read 57 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 | Phoenix WTIOIL | 92.740 | 0 | get 0.0000% / 1h | 57m 47s | $37K | $51K | 20x |
| Short | Nado WTI-PERP | 92.837 | −0.0065 | pay 0.0008% / 1h | 57m 47s | $936K | $696K | 10x |
Phoenix WTIOIL
Nado WTI-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$13.69
- Price spread: +0.105% → −0.005%
- $10.97
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$16.72
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Nado: live order book, 11 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Nado live order book, 11 min ago | 0.05 bp | 4.7 bp −$5 | 9.2 bp −$92 | 29.7 bp −$2,974 | doesn't fit |
Phoenix: 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 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 | −0.0719% | 1h | 92.760 | +0.022% | $192K | $358K | 15x | as long as short |
| GRVT CL_USDT_Perp | −0.0342% | 4h | 92.660 | −0.086% | $58K | $630K | 25x | as long as short |
| Aster CLUSD1 | −0.0336% | 4h | 92.863 | +0.132% | $24.0M | $75.0M | 20x | as long as short |
| Binance CLUSDT | −0.0282% | 4h | 92.824 | +0.091% | $244.9M | $1.02B | 100x | as long as short |
| Variational Omni CL | −0.0273% | 4h | 92.659 | −0.088% | $13.3M | $11.4M | — | as long as short |
| Gate CL_USDT | −0.0193% | 8h | 92.770 | +0.032% | $21.2M | $52.2M | 100x | as long as short |
| tradeXYZ xyz:CL | −0.0067% | 1h | 92.854 | +0.123% | $186.5M | $234.7M | 20x | as long as short |
| Nado WTI-PERPshort | −0.0065% | 1h | 92.837 | +0.105% | $936K | $696K | 10x | |
| Coinbase International WTIOIL-PERP-INTX | −0.0048% | 1h | 92.030 | −0.766% | $399K | $956K | 15x | as long as short |
| Kraken Futures PF_WTIOILUSD | −0.0038% | 1h | 92.833 | +0.100% | $274K | $906K | 25x | as long as short |
Deribit WTIOIL_USDC-PERPETUAL
GRVT CL_USDT_Perp
Aster CLUSD1
Binance CLUSDT
Variational Omni CL
Gate CL_USDT
tradeXYZ xyz:CL
Coinbase International WTIOIL-PERP-INTX
Kraken Futures PF_WTIOILUSDShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| QFEX CL-USD | −0.0033% | 1h | 92.750 | +0.011% | $2.5M | $1.7M | 10x | as long as short |
| Ondo Perps WTI-USD.P | −0.0023% | 1h | 92.730 | −0.011% | $3.5M | $5.9M | 20x | as long as short |
| OKX CL-USDT-SWAP | −0.0005% | 4h | 92.830 | +0.097% | $43.0M | $108.6M | 50x | as long as short |
| dYdX WTI-USD | 0.0000% | 1h | 92.832 | +0.099% | $8K | $3K | 5x | as long as short |
| Bybit CLUSDT | 0.0000% | 8h | 92.850 | +0.119% | $26.5M | $86.7M | 150x | as long as short |
| Bitget CLUSDT | 0.0000% | 4h | 92.822 | +0.088% | $42.3M | $47.3M | 100x | as long as short |
| Phoenix WTIOILlong | 0.0000% | 1h | 92.740 | long leg | $37K | $51K | 20x | |
| Bullet WTIOIL-USD | 0.0000% | 1h | 92.795 | +0.059% | $19K | $239K | 10x | as long as short |
| gTrade (Gains Network) WTI/USD | L 0.0000% / S +0.0036% | 1h | 92.389 | −0.378% | $5K | — | 150x | as long as short |
| Lighter WTI | +0.0008% | 1h | 92.844 | +0.112% | $11.2M | $10.0M | 20x | as long as short |
| Paradex CL-USD-PERP | +0.0013% | 8h | 92.764 | +0.026% | $16K | $367 | 5x | as long as short |
| Extended WTI-USD | +0.0016% | 1h | 92.860 | +0.129% | $2.1M | $25.5M | 10x | as long as short |
| edgeX CLUSDC | +0.0035% | 4h | 92.691 | −0.053% | $533K | $300K | 30x | as long as short |
| RISEx CL/USDC | +0.0037% | 1h | 92.884 | +0.155% | $3.3M | $2.7M | 20x | as long as short |
| StandX CL-USD | +0.0040% | 1h | 92.450 | −0.313% | $723K | $3.1M | 40x | as long as short |
| Vest CL-PERP | +0.0046% | 1h | 92.810 | +0.075% | — | $310K | 10x | as long as short |
| Polymarket Perps WTIOIL-USD | +0.0050% | 1h | 92.790 | +0.054% | $1.6M | $1.4M | 20x | as long as short |
| SoDEX CL-USD | +0.0050% | 1h | 92.825 | +0.092% | $2.1M | $58K | 20x | as long as short |
| KuCoin CLUSDTM | +0.0076% | 4h | 92.840 | +0.108% | $7.2M | $2.3M | 50x | as long as short |
| Pacifica CL | +0.0100% | 1h | 92.783 | +0.046% | $355K | $605K | 10x | as long as short |
| ApeX Omni CLUSDT | +0.0100% | 1h | 92.780 | +0.043% | $56K | $265K | 50x | as long as short |
| Aevo WTIOIL-PERP | +0.0104% | 1h | 92.782 | +0.045% | $4K | — | 10x | as long as short |
| Aftermath Perps WTIUSD | +0.0107% | 1h | 92.738 | −0.002% | $2K | $28K | 5x | as long as short |
| GMX WTIOIL/USD [ETH-USDC] | L +0.0207% / S −0.0131% | 1h | 92.815 | +0.081% | $78K | — | 111x | as long as short |
| Injective WTI/USDC PERP | +0.0220% | 1h | 101.69 | +9.651% | $19K | $11K | 30x | as long as short |
| BloFin CL-USDT | +0.0237% | 4h | 92.680 | −0.065% | $4.0M | $1.2M | 50x | as long as short |
QFEX CL-USD
Ondo Perps WTI-USD.P
OKX CL-USDT-SWAP
dYdX WTI-USD
Bybit CLUSDT
Bitget CLUSDT
Bullet WTIOIL-USD
gTrade (Gains Network) WTI/USD
Lighter WTI
Paradex CL-USD-PERP
Extended WTI-USD
edgeX CLUSDC
RISEx CL/USDC
StandX CL-USD
Vest CL-PERP
Polymarket Perps WTIOIL-USD
SoDEX CL-USD
KuCoin CLUSDTM
Pacifica CL
ApeX Omni CLUSDT
Aevo WTIOIL-PERP
Aftermath Perps WTIUSD
GMX WTIOIL/USD [ETH-USDC]
Injective WTI/USDC PERP
BloFin CL-USDT