Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h −0.014%

Price spread now: Paradex against SoDEX−0.058%7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Paradex is 0.058% cheaper against SoDEX than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX CL-USD	93.445	0.0050	pay 0.0006% / 1h	8m 10s	$2.1M	$60K	20x
Short	Paradex CL-USD-PERP	93.391	0.0019	get 0.0019% / 8h	2h 08m	$16K	$367	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.058%Rate

Funding earned: −$6.47
Price spread: −0.058% → 0.000%: −$5.82
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$24.29
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: SoDEX: live order book, 1 min ago; Paradex: no order-book sample. 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 SoDEX live order book, 1 min ago	1.02 bp	20.2 bp −$20	85.0 bp −$850	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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 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	−0.0392%	1h	93.420	−0.027%	$196K	$377K	15x	as long as short
GRVT CL_USDT_Perp	−0.0280%	4h	93.511	+0.071%	$58K	$629K	25x	as long as short
Aster CLUSD1	−0.0280%	4h	93.470	+0.027%	$24.4M	$64.6M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.447	+0.002%	$285K	$959K	25x	as long as short
Binance CLUSDT	−0.0173%	4h	93.450	+0.005%	$246.0M	$930.8M	100x	as long as short
Variational Omni CL	−0.0165%	4h	93.509	+0.068%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0157%	1h	93.443	−0.002%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0122%	4h	93.425	−0.021%	$42.1M	$42.7M	100x	as long as short
Nado WTI-PERP	−0.0112%	1h	93.450	+0.006%	$972K	$630K	10x	as long as short
Gate CL_USDT	−0.0077%	8h	93.380	−0.070%	$22.0M	$50.3M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps WTI-USD.P	−0.0074%	1h	93.400	−0.048%	$3.5M	$5.4M	20x	as long as short
tradeXYZ xyz:CL	−0.0074%	1h	93.417	−0.030%	$184.8M	$212.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.500	+0.059%	$404K	$931K	15x	as long as short
OKX CL-USDT-SWAP	−0.0037%	4h	93.440	−0.005%	$42.7M	$102.4M	50x	as long as short
QFEX CL-USD	−0.0032%	1h	93.400	−0.048%	$2.3M	$2.5M	10x	as long as short
edgeX CLUSDC	−0.0020%	4h	93.498	+0.057%	$526K	$305K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	93.405	−0.042%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.453	+0.009%	$27.0M	$79.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.456	+0.012%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.540	+0.102%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.430	−0.016%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.988	−0.489%	$5K	—	150x	as long as short
Paradex CL-USD-PERPshort	+0.0019%	8h	93.391	−0.058%	$16K	$367	5x
Lighter WTI	+0.0024%	1h	93.436	−0.010%	$11.2M	$9.9M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.480	+0.037%	$2.0M	$16.8M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.450	+0.005%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.410	−0.037%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.408	−0.040%	$332K	$577K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.405	−0.043%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USDlong	+0.0050%	1h	93.445	long leg	$2.1M	$60K	20x
KuCoin CLUSDTM	+0.0094%	4h	93.458	+0.014%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.580	+0.144%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.420	−0.027%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0199%	4h	93.420	−0.027%	$4.0M	$989K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.64	+9.845%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0240% / S −0.0173%	1h	93.445	0.000%	$84K	—	111x	as long as short