Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0252%/8h= −27.6% APRpaid last 24h −0.027%

Price spread now: Aster against tradeXYZ+0.069%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$280.281% of the position

Long on tradeXYZ Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

Price spread, last 7 days−0.039%−$4 · spread now +0.069%, 7d avg +0.031%

Together, before fees−0.078%+ Points / potential airdroptradeXYZ: Active · Aster: Stage 5 · farm board−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.038% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.069% now, against its 7-day average of +0.031%): +$4 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 7 days (−0.039% in total) that is about 6.8 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.039% in total (about -2.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:CL	93.267	−0.0008	get 0.0001% / 1h	39m 09s	$184.7M	$217.8M	20x
Short	Aster CLUSD1	93.331	−0.0260	pay 0.0130% / 4h	3h 39m	$24.2M	$66.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against tradeXYZ. 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 tradeXYZbpFee AsterbpOrdersPrice spread, now +0.069%Rate

Funding earned: −$52.89
Price spread: +0.069% → +0.031%: $3.77
Slippage, 4 orders: −$2.07
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Aster: 4 bp × 2 orders: −$8
Net: −$77.19
Costs to cover: 0.281%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 11 min ago; Aster: live order book, 5 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 tradeXYZ live order book, 11 min ago	0.11 bp	9.2 bp −$9	9.2 bp −$92	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	0.54 bp	5.1 bp −$5	5.6 bp −$56	doesn't fit	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
Deribit WTIOIL_USDC-PERPETUAL	−0.0393%	1h	93.290	+0.025%	$199K	$370K	15x	as long as short
Aster CLUSD1short	−0.0260%	4h	93.331	+0.069%	$24.2M	$66.2M	20x
GRVT CL_USDT_Perp	−0.0246%	4h	93.265	−0.002%	$54K	$645K	25x	as long as short
Binance CLUSDT	−0.0173%	4h	93.256	−0.012%	$245.4M	$942.0M	100x	as long as short
Variational Omni CL	−0.0159%	4h	93.269	+0.002%	$13.4M	$10.9M	—	as long as short
Nado WTI-PERP	−0.0130%	1h	93.363	+0.103%	$965K	$636K	10x	as long as short
Bitget CLUSDT	−0.0122%	4h	93.245	−0.024%	$42.0M	$43.3M	100x	as long as short
Aftermath Perps WTIUSD	−0.0116%	1h	93.262	−0.006%	$2K	$27K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0114%	1h	93.250	−0.018%	$3.5M	$5.4M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.310	+0.046%	$277K	$960K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0058%	4h	93.273	+0.006%	$524K	$305K	30x	as long as short
Gate CL_USDT	−0.0053%	8h	93.210	−0.061%	$21.1M	$51.1M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.190	−0.083%	$401K	$927K	15x	as long as short
QFEX CL-USD	−0.0033%	1h	93.290	+0.025%	$2.3M	$1.8M	10x	as long as short
OKX CL-USDT-SWAP	−0.0031%	4h	93.270	+0.003%	$42.7M	$103.0M	50x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.300	+0.035%	$37K	$41K	20x	as long as short
tradeXYZ xyz:CLlong	−0.0008%	1h	93.267	long leg	$184.7M	$217.8M	20x
KuCoin CLUSDTM	−0.0006%	4h	93.315	+0.051%	$7.1M	$2.4M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	93.352	+0.091%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.277	+0.011%	$27.0M	$80.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.376	+0.116%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.315	+0.051%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.867	−0.429%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0018%	8h	93.299	+0.034%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	93.283	+0.017%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.360	+0.100%	$2.0M	$19.3M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.210	−0.061%	$737K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.320	+0.057%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.308	+0.044%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.279	+0.013%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.313	+0.049%	$331K	$597K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.290	+0.025%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.272	+0.006%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0209%	4h	93.280	+0.014%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.17	+9.541%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0220% / S −0.0148%	1h	93.315	+0.051%	$81K	—	111x	as long as short