Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: edgeX against tradeXYZ−0.039%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$480.477% of the position

Long on tradeXYZ Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.189%−$19 on $10k

Price spread, last 4 days (all we have)+0.034%+$3 · spread now −0.039%, 7d avg −0.016%

Together, before fees−0.155%+ Points / potential airdroptradeXYZ: Active · edgeX: Active · farm board−$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.023% cheaper against tradeXYZ than usual: you would sell low and buy high (spread −0.039% now, against its 7-day average of −0.016%). If the spread goes back, that is −$2 on $10k: about 2.5 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.189%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:CL	92.914	−0.0064	get 0.0008% / 1h	21m 17s	$184.7M	$217.3M	20x
Short	edgeX CLUSDC	92.877	−0.0033	pay 0.0016% / 4h	1h 21m	$529K	$302K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.039%Rate

Funding earned: $6.63
Price spread: −0.039% → −0.016%: −$2.35
Slippage, 4 orders: −$20.75
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$43.46
Costs to cover: 0.477%
Break-even: 52.9 days

Slippage from tradeXYZ: live order book, 8 min ago; edgeX: live order book, 42 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, 8 min ago	0.05 bp	9.4 bp −$9	10.5 bp −$105	doesn't fit	doesn't fit
Sell edgeX live order book, 42 min ago	10.13 bp	14.6 bp −$15	14.9 bp −$149	21.5 bp −$2,152	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	−0.0611%	1h	92.880	−0.037%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0251%	4h	92.910	−0.004%	$23.9M	$68.1M	20x	as long as short
GRVT CL_USDT_Perp	−0.0236%	4h	92.901	−0.014%	$53K	$635K	25x	as long as short
Binance CLUSDT	−0.0204%	4h	92.918	+0.005%	$244.7M	$951.9M	100x	as long as short
Variational Omni CL	−0.0202%	4h	92.856	−0.062%	$13.6M	$11.1M	—	as long as short
Ondo Perps WTI-USD.P	−0.0162%	1h	92.870	−0.047%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0152%	1h	92.965	+0.055%	$962K	$658K	10x	as long as short
Gate CL_USDT	−0.0082%	8h	92.860	−0.058%	$20.9M	$52.7M	100x	as long as short
tradeXYZ xyz:CLlong	−0.0064%	1h	92.914	long leg	$184.7M	$217.3M	20x
OKX CL-USDT-SWAP	−0.0060%	4h	92.900	−0.015%	$42.9M	$102.1M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps WTIUSD	−0.0053%	1h	92.908	−0.007%	$2K	$27K	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.177%	$402K	$944K	15x	as long as short
edgeX CLUSDCshort	−0.0033%	4h	92.877	−0.039%	$529K	$302K	30x
QFEX CL-USD	−0.0032%	1h	92.890	−0.026%	$2.5M	$1.7M	10x	as long as short
Extended WTI-USD	−0.0032%	1h	92.960	+0.050%	$2.1M	$22.5M	10x	as long as short
Lighter WTI	0.0000%	1h	92.914	0.000%	$11.2M	$10.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.937	+0.024%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.924	+0.011%	$26.7M	$81.0M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.908	−0.006%	$41.9M	$43.3M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.950	+0.039%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.915	+0.001%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.478	−0.469%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0019%	8h	92.899	−0.016%	$16K	$367	5x	as long as short
KuCoin CLUSDTM	+0.0026%	4h	92.907	−0.008%	$7.3M	$2.3M	50x	as long as short
StandX CL-USD	+0.0040%	1h	92.870	−0.047%	$732K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.940	+0.028%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.917	+0.003%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.918	+0.004%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	93.013	+0.107%	$3.1M	$2.9M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.908	−0.006%	$331K	$619K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.900	−0.015%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.882	−0.035%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.930	+0.018%	$273K	$872K	25x	as long as short
BloFin CL-USDT	+0.0182%	4h	92.870	−0.047%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.915	+0.001%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.95	+9.729%	$19K	$11K	30x	as long as short