Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0004%/8hpaid last 24h +0.006%

Price spread now: Ondo Perps against Variational Omni+0.039%7-day average −0.044% · you sell dearer than you buy

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

Long on Variational Omni Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.094%+$9 on $10k

Price spread, last 7 days+0.046%+$5 · spread now +0.039%, 7d avg −0.044%

Together, before fees+0.140%+ Points / potential airdropVariational Omni: Active · Ondo Perps: Active · farm board+$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Ondo Perps is 0.082% dearer against Variational Omni than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CL	92.045	−0.0088	get 0.0044% / 4h	4m 20s	$13.5M	$16.6M	—
Short	Ondo Perps WTI-USD.P	92.080	−0.0084	pay 0.0010% / 1h	4m 20s	$3.5M	$6.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now +0.039%Rate

Funding earned: $0.92
Price spread: +0.039% → −0.044%: $8.23
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $4.15
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Ondo Perps: 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 Variational Omni RFQ quote, 4 min ago	2.27 bp	doesn't fit	2.5 bp −$25	7.7 bp −$766	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Aster CLUSD1	−0.0106%	4h	92.130	+0.093%	$24.8M	$70.7M	20x	as long as short
Binance CLUSDT	−0.0099%	4h	92.140	+0.104%	$245.4M	$1.05B	100x	as long as short
Variational Omni CLlong	−0.0088%	4h	92.045	long leg	$13.5M	$16.6M	—
Aftermath Perps WTIUSD	−0.0088%	1h	92.091	+0.050%	$2K	$33K	5x	as long as short
Ondo Perps WTI-USD.Pshort	−0.0084%	1h	92.080	+0.039%	$3.5M	$6.3M	20x
Nado WTI-PERP	−0.0074%	1h	92.147	+0.112%	$850K	$756K	10x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0059%	1h	92.148	+0.112%	$266K	$1.3M	25x	as long as short
Lighter WTI	−0.0040%	1h	92.109	+0.070%	$11.1M	$12.5M	20x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0038% / S +0.0036%	1h	91.859	−0.202%	$178K	—	150x	as long as short
tradeXYZ xyz:CL	−0.0033%	1h	92.155	+0.120%	$184.1M	$287.5M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0022%	1h	92.100	+0.060%	$2.4M	$2.9M	10x	as long as short
GRVT CL_USDT_Perp	−0.0020%	4h	92.064	+0.021%	$62K	$825K	25x	as long as short
dYdX WTI-USD	0.0000%	1h	92.109	+0.070%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.150	+0.115%	$25.0M	$95.6M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.120	+0.082%	$43.2M	$112.5M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.223	+0.194%	$3.2M	$2.6M	20x	as long as short
Gate CL_USDT	0.0000%	8h	92.100	+0.060%	$21.1M	$61.9M	100x	as long as short
Bitget CLUSDT	0.0000%	4h	92.112	+0.073%	$42.6M	$63.7M	100x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.136	+0.099%	$19K	$247K	10x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	0.0000%	1h	92.130	+0.093%	$96K	$423K	15x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.020	−0.027%	$396K	$1.1M	15x	as long as short
edgeX CLUSDC	+0.0001%	4h	92.051	+0.008%	$529K	$349K	30x	as long as short
Extended WTI-USD	+0.0016%	1h	92.150	+0.115%	$1.9M	$29.2M	10x	as long as short
Paradex CL-USD-PERP	+0.0017%	8h	92.096	+0.056%	$15K	$367	5x	as long as short
Phoenix WTIOIL	+0.0026%	1h	92.130	+0.093%	$33K	$99K	20x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	92.595	+0.598%	$18K	$14K	30x	as long as short
StandX CL-USD	+0.0040%	1h	92.110	+0.071%	$727K	$2.7M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.210	+0.180%	—	$243K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.139	+0.103%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.101	+0.061%	$2.0M	$45K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.119	+0.081%	$315K	$542K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.137	+0.100%	$7.4M	$1.5M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.040	−0.005%	$55K	$272K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.092	+0.052%	$4K	$49	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0204% / S −0.0127%	1h	92.135	+0.098%	$76K	—	111x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.100	+0.060%	$4.1M	$1.5M	50x	as long as short