Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0069%/8h= −7.6% APRpaid last 24h +0.001%

Price spread now: Variational Omni against QFEX−0.061%7-day average +0.005% · you buy dearer than you sell

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

Long on QFEX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.024%+$2 on $10k

Price spread, last 7 days+0.063%+$6 · spread now −0.061%, 7d avg +0.005%

Together, before fees+0.087%+ Points / potential airdropVariational Omni: Active · farm board+$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Variational Omni is 0.066% cheaper against QFEX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.005%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CL-USD	92.050	−0.0054	get 0.0007% / 1h	40m 26s	$2.4M	$2.6M	10x
Short	Variational Omni CL	91.994	−0.0123	pay 0.0062% / 4h	40m 26s	$13.4M	$12.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against QFEX. 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 QFEXbpFee Variational OmnibpOrdersPrice spread, now −0.061%Rate

Funding earned: −$14.58
Price spread: −0.061% → +0.005%: −$6.64
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$31.22
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 2 min ago; Variational Omni: RFQ quote, 4 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 QFEX live order book, 2 min ago	1.63 bp	7.3 bp −$7	7.7 bp −$77	8.9 bp −$893	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	2.28 bp	doesn't fit	2.9 bp −$29	6.4 bp −$640	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
Kraken Futures PF_WTIOILUSD	−0.0450%	1h	92.106	+0.061%	$274K	$1.2M	25x	as long as short
GRVT CL_USDT_Perp	−0.0310%	4h	92.070	+0.022%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0234%	4h	92.100	+0.054%	$24.0M	$77.7M	20x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0184%	1h	92.090	+0.043%	$96K	$189K	15x	as long as short
Nado WTI-PERP	−0.0172%	1h	92.133	+0.091%	$924K	$740K	10x	as long as short
Binance CLUSDT	−0.0159%	4h	92.090	+0.043%	$245.4M	$1.10B	100x	as long as short
Lighter WTI	−0.0128%	1h	92.073	+0.025%	$11.1M	$10.9M	20x	as long as short
Variational Omni CLshort	−0.0123%	4h	91.994	−0.061%	$13.4M	$12.7M	—
Ondo Perps WTI-USD.P	−0.0114%	1h	92.080	+0.033%	$3.5M	$6.4M	20x	as long as short
Paradex CL-USD-PERP	−0.0104%	8h	92.055	+0.006%	$15K	$367	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0097%	1h	92.106	+0.061%	$187.1M	$276.8M	20x	as long as short
Bullet WTIOIL-USD	−0.0060%	1h	92.085	+0.038%	$18K	$241K	10x	as long as short
QFEX CL-USDlong	−0.0054%	1h	92.050	long leg	$2.4M	$2.6M	10x
Gate CL_USDT	−0.0026%	8h	92.020	−0.033%	$21.3M	$57.6M	100x	as long as short
Pacifica CL	−0.0020%	1h	92.097	+0.051%	$332K	$576K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.108	+0.063%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.110	+0.065%	$25.5M	$94.8M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.090	+0.043%	$43.1M	$112.8M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.184	+0.146%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.080	+0.033%	$42.0M	$51.7M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.120	+0.076%	$37K	$101K	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	−0.022%	$399K	$966K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.645	−0.440%	$4K	—	150x	as long as short
Extended WTI-USD	+0.0008%	1h	92.120	+0.076%	$2.0M	$27.5M	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0039%	1h	92.078	+0.030%	$1.6M	$1.4M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.130	+0.087%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.120	+0.076%	—	$308K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.085	+0.038%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0059%	4h	92.037	−0.014%	$529K	$336K	30x	as long as short
Aftermath Perps WTIUSD	+0.0086%	1h	92.085	+0.038%	$1K	$29K	5x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.082	+0.035%	$7.3M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.150	+0.109%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.046	−0.005%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	92.065	+0.016%	$76K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.28	+10.022%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.080	+0.033%	$4.0M	$1.4M	50x	as long as short