Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0199%/8h= +21.8% APRpaid last 24h +0.032%

Price spread now: Extended against Variational Omni+0.120%7-day average −0.013% · you sell dearer than you buy

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

Long on Variational Omni Short on Extended

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.204%+$20 on $10k

Price spread, last 7 days−0.153%−$15 · spread now +0.120%, 7d avg −0.013%

Together, before fees+0.052%+ Points / potential airdropVariational Omni: Active · Extended: Active · farm board+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Extended is 0.133% dearer against Variational Omni than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CL	93.119	−0.0167	get 0.0084% / 4h	3h 46m	$13.5M	$10.7M	—
Short	Extended WTI-USD	93.230	0.0032	get 0.0004% / 1h	46m 40s	$2.0M	$19.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Variational Omni. 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 Variational OmnibpFee ExtendedbpOrdersPrice spread, now +0.120%Rate

Funding earned: $41.86
Price spread: +0.120% → −0.013%: $13.26
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $50.13
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Extended: live order book, 2 min ago. 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 Variational Omni RFQ quote, 3 min ago	2.26 bp	doesn't fit	2.6 bp −$26	7.3 bp −$732	doesn't fit
Sell Extended live order book, 2 min ago	0.05 bp	2.6 bp −$3	4.4 bp −$44	21.2 bp −$2,123	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	93.200	+0.087%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0260%	4h	93.222	+0.111%	$24.1M	$67.0M	20x	as long as short
GRVT CL_USDT_Perp	−0.0192%	4h	93.168	+0.053%	$54K	$658K	25x	as long as short
Binance CLUSDT	−0.0171%	4h	93.191	+0.078%	$245.4M	$943.1M	100x	as long as short
Variational Omni CLlong	−0.0167%	4h	93.119	long leg	$13.5M	$10.7M	—
Nado WTI-PERP	−0.0125%	1h	93.244	+0.135%	$965K	$645K	10x	as long as short
Bitget CLUSDT	−0.0122%	4h	93.185	+0.071%	$42.0M	$43.3M	100x	as long as short
Aftermath Perps WTIUSD	−0.0113%	1h	93.145	+0.028%	$2K	$27K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0112%	1h	93.200	+0.087%	$3.5M	$5.3M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.227	+0.116%	$269K	$946K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0049%	8h	93.150	+0.034%	$21.0M	$50.8M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.190	+0.077%	$401K	$928K	15x	as long as short
OKX CL-USDT-SWAP	−0.0035%	4h	93.200	+0.087%	$42.6M	$103.0M	50x	as long as short
QFEX CL-USD	−0.0033%	1h	93.180	+0.066%	$2.3M	$1.8M	10x	as long as short
edgeX CLUSDC	−0.0019%	4h	93.176	+0.062%	$524K	$307K	30x	as long as short
KuCoin CLUSDTM	−0.0012%	4h	93.224	+0.113%	$7.1M	$2.4M	50x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.220	+0.109%	$37K	$41K	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.272	+0.165%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.220	+0.109%	$27.0M	$80.9M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.270	+0.162%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.232	+0.122%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.785	−0.358%	$5K	—	150x	as long as short
tradeXYZ xyz:CL	+0.0003%	1h	93.202	+0.089%	$184.6M	$218.9M	20x	as long as short
Paradex CL-USD-PERP	+0.0015%	8h	93.182	+0.067%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	93.195	+0.082%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USDshort	+0.0032%	1h	93.230	+0.120%	$2.0M	$19.6M	10x
StandX CL-USD	+0.0040%	1h	93.170	+0.055%	$736K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.230	+0.120%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.236	+0.126%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.222	+0.111%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.202	+0.089%	$331K	$597K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.260	+0.152%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.190	+0.076%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0204%	4h	93.210	+0.098%	$4.0M	$1.0M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0219% / S −0.0147%	1h	93.225	+0.114%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.17	+9.716%	$19K	$11K	30x	as long as short