Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0259%/8h= −28.3% APRpaid last 24h −0.002%

Price spread now: Binance against tradeXYZ+0.007%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$300.300% of the position

Long on tradeXYZ Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.056%−$6 on $10k

Price spread, last 2 days (all we have)+0.007%+$1 · spread now +0.007%, 7d avg +0.002%

Together, before fees−0.049%+ Points / potential airdroptradeXYZ: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.002%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.056% in total (about -2.9% 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	92.848	−0.0024	get 0.0003% / 1h	59m 11s	$186.5M	$234.6M	20x
Short	Binance CLUSDT	92.855	−0.0283	pay 0.0141% / 4h	2h 59m	$245.0M	$1.02B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.007%Rate

Funding earned: −$54.34
Price spread: +0.007% → +0.002%: $0.54
Slippage, 4 orders: −$2.04
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Binance: 5 bp × 2 orders: −$10
Net: −$83.84
Costs to cover: 0.300%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 11 min ago; Binance: live order book, 15 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	0.22 bp	9.3 bp −$9	9.9 bp −$99	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	0.54 bp	5.5 bp −$6	5.5 bp −$55	8.6 bp −$863	22.3 bp −$11.1K

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	−0.0396%	1h	92.800	−0.052%	$130K	$276K	15x	as long as short
GRVT CL_USDT_Perp	−0.0342%	4h	92.660	−0.203%	$58K	$630K	25x	as long as short
Aster CLUSD1	−0.0338%	4h	92.840	−0.009%	$24.0M	$75.0M	20x	as long as short
Binance CLUSDTshort	−0.0283%	4h	92.855	+0.007%	$245.0M	$1.02B	100x
Variational Omni CL	−0.0273%	4h	92.659	−0.204%	$13.3M	$11.4M	—	as long as short
Gate CL_USDT	−0.0190%	8h	92.780	−0.073%	$21.2M	$52.0M	100x	as long as short
Nado WTI-PERP	−0.0050%	1h	92.804	−0.047%	$935K	$699K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.030	−0.881%	$399K	$956K	15x	as long as short
QFEX CL-USD	−0.0040%	1h	92.740	−0.116%	$2.5M	$1.7M	10x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.817	−0.034%	$274K	$907K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CLlong	−0.0024%	1h	92.848	long leg	$186.5M	$234.6M	20x
OKX CL-USDT-SWAP	−0.0005%	4h	92.840	−0.009%	$42.9M	$108.5M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.742	−0.114%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.863	+0.016%	$26.4M	$87.7M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.858	+0.011%	$42.3M	$47.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.740	−0.116%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.810	−0.041%	$19K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.371	−0.514%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0013%	8h	92.685	−0.175%	$15K	$367	5x	as long as short
Extended WTI-USD	+0.0016%	1h	92.850	+0.002%	$2.3M	$25.3M	10x	as long as short
Ondo Perps WTI-USD.P	+0.0030%	1h	92.680	−0.181%	$3.5M	$5.9M	20x	as long as short
Lighter WTI	+0.0032%	1h	92.846	−0.002%	$11.2M	$9.9M	20x	as long as short
edgeX CLUSDC	+0.0035%	4h	92.691	−0.169%	$533K	$300K	30x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.867	+0.020%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.390	−0.493%	$723K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.800	−0.052%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.814	−0.037%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.830	−0.019%	$2.1M	$58K	20x	as long as short
KuCoin CLUSDTM	+0.0078%	4h	92.852	+0.004%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.735	−0.122%	$355K	$605K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.780	−0.073%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.775	−0.079%	$4K	—	10x	as long as short
Aftermath Perps WTIUSD	+0.0113%	1h	92.716	−0.143%	$2K	$28K	5x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.815	−0.036%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.69	+9.523%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0237%	4h	92.680	−0.181%	$4.0M	$1.2M	50x	as long as short