CL

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0461%/8h= −50.5% APRnext payment −$0.58 per $10,000 · paid last 24h −0.077%

Price spread now: Deribit against SoDEX−0.036%7-day average +0.020% · 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−$54as in the Price arb table

costs, in and out, $10k−$480.484% of the position

Long on SoDEX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.111%−$11 on $10k

Price spread, last 4 days (all we have)+0.065%+$6 · spread now −0.036%, 7d avg +0.020%

Together, before fees−0.046%−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Deribit is 0.056% cheaper against SoDEX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.020%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.111% in total (about -11.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.58 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX CL-USD	90.693	0.0050	pay 0.0006% / 1h	15m 18s	$2.0M	$81K	20x
Short	Deribit WTIOIL_USDC-PERPETUAL	90.660	−0.0411	pay 0.0051% / 1h	15m 18s	$181K	$424K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SoDEX. 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 SoDEXbpFee DeribitbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$96.89
Price spread: −0.036% → +0.020%: −$5.61
Slippage, 4 orders: −$33.36
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$150.87
Costs to cover: 0.484%
Break-even: never at this rate

Slippage from SoDEX: live order book, 2 min ago; Deribit: live order book, 36 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 SoDEX live order book, 2 min ago	1.05 bp	19.2 bp −$19	89.8 bp −$898	doesn't fit	doesn't fit
Sell Deribit live order book, 36 min ago	0.55 bp	4.0 bp −$4	6.5 bp −$65	doesn't fit	doesn't fit

CL on 36 exchanges

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	−0.0411%	1h	90.660	−0.036%	$181K	$424K	15x
Kraken Futures PF_WTIOILUSD	−0.0365%	1h	90.673	−0.022%	$306K	$1.3M	25x	as long as short
Aster CLUSD1	−0.0166%	4h	90.788	+0.105%	$24.6M	$66.1M	20x	as long as short
Bitget CLUSDT	−0.0112%	4h	90.736	+0.047%	$41.2M	$48.9M	100x	as long as short
Binance CLUSDT	−0.0111%	4h	90.772	+0.087%	$246.0M	$1.09B	100x	as long as short
Variational Omni CL	−0.0084%	4h	90.686	−0.008%	$12.9M	$11.0M	—	as long as short
Nado WTI-PERP	−0.0080%	1h	90.763	+0.077%	$913K	$652K	10x	as long as short
Extended WTI-USD	−0.0080%	1h	90.740	+0.052%	$1.4M	$13.7M	10x	as long as short
Ondo Perps WTI-USD.P	−0.0074%	1h	90.650	−0.047%	$3.5M	$5.7M	20x	as long as short
Gate CL_USDT	−0.0073%	8h	90.700	+0.008%	$23.1M	$53.7M	100x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0067%	4h	90.858	+0.182%	$508K	$380K	30x	as long as short
tradeXYZ xyz:CL	−0.0058%	1h	90.748	+0.061%	$176.1M	$209.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0042%	4h	90.832	+0.154%	$70K	$615K	25x	as long as short
Aftermath Perps WTIUSD	−0.0030%	1h	90.902	+0.231%	$2K	$27K	5x	as long as short
OKX CL-USDT-SWAP	−0.0027%	4h	90.760	+0.074%	$40.9M	$118.1M	50x	as long as short
QFEX CL-USD	−0.0023%	1h	90.710	+0.019%	$2.2M	$2.8M	10x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	90.302	−0.431%	$1K	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	90.696	+0.003%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	90.800	+0.118%	$26.9M	$95.9M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	90.751	+0.064%	$2.9M	$3.0M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	90.755	+0.068%	$17K	$237K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0008%	1h	90.660	−0.036%	$420K	$1.1M	15x	as long as short
Paradex CL-USD-PERP	+0.0015%	8h	90.684	−0.010%	$15K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	90.673	−0.022%	$11.0M	$9.5M	20x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	100.27	+10.558%	$19K	$5K	30x	as long as short
StandX CL-USD	+0.0040%	1h	90.730	+0.041%	$706K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	90.710	+0.019%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	90.698	+0.006%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USDlong	+0.0050%	1h	90.693	long leg	$2.0M	$81K	20x
Phoenix WTIOIL	+0.0053%	1h	90.890	+0.217%	$36K	$37K	20x	as long as short
Pacifica CL	+0.0100%	1h	90.714	+0.023%	$313K	$709K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	90.745	+0.057%	$6.8M	$2.8M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	90.830	+0.151%	$53K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	90.735	+0.046%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0215%	4h	90.860	+0.184%	$3.9M	$1.0M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0250% / S −0.0172%	1h	90.675	−0.020%	$81K	—	111x	as long as short