Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0283%/8h= −31.0% APRpaid last 24h −0.045%

Price spread now: Variational Omni against ApeX Omni−0.056%88s7-day average −0.018% · you buy dearer than you sell

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

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.097%−$10 on $10k

Price spread, last 4 days (all we have)+0.015%+$1 · spread now −0.056%, 7d avg −0.018%

Together, before fees−0.083%+ Points / potential airdropVariational Omni: Active · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Variational Omni is 0.038% cheaper against ApeX Omni than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.018%). Swap the legs. The two prices were read 88 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.097% in total (about -10.2% 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	ApeX Omni CLUSDT	93.210	0.0100	pay 0.0013% / 1h	40m 09s	$56K	$265K	50x
Short	Variational Omni CL	93.158	−0.0183	pay 0.0091% / 4h	40m 09s	$13.5M	$11.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against ApeX 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 ApeX OmnibpFee Variational OmnibpOrdersPrice spread, now −0.056%Rate

Funding earned: −$59.36
Price spread: −0.056% → −0.018%: −$3.78
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$73.14
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 17 min ago; Variational Omni: RFQ quote, 4 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 ApeX Omni live order book, 17 min ago	8.59 bp	19.3 bp −$19	184.3 bp −$1,843	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	2.27 bp	doesn't fit	2.3 bp −$23	6.0 bp −$597	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	−0.0608%	1h	93.140	−0.075%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0248%	4h	93.185	−0.027%	$24.0M	$67.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0244%	4h	93.140	−0.075%	$54K	$635K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0195%	1h	93.203	−0.007%	$274K	$872K	25x	as long as short
Binance CLUSDT	−0.0192%	4h	93.170	−0.043%	$244.9M	$951.1M	100x	as long as short
Variational Omni CLshort	−0.0183%	4h	93.158	−0.056%	$13.5M	$11.0M	—
tradeXYZ xyz:CL	−0.0108%	1h	93.170	−0.043%	$185.0M	$216.3M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0104%	1h	93.100	−0.118%	$3.5M	$5.6M	20x	as long as short
Aftermath Perps WTIUSD	−0.0093%	1h	93.179	−0.033%	$2K	$27K	5x	as long as short
Bitget CLUSDT	−0.0082%	4h	93.170	−0.043%	$42.0M	$43.8M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAP	−0.0068%	4h	93.190	−0.021%	$42.6M	$102.8M	50x	as long as short
Gate CL_USDT	−0.0049%	8h	93.130	−0.086%	$20.9M	$51.4M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.494%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0043%	1h	93.150	−0.064%	$2.5M	$1.7M	10x	as long as short
edgeX CLUSDC	−0.0041%	4h	93.173	−0.039%	$530K	$299K	30x	as long as short
Nado WTI-PERP	−0.0030%	1h	93.228	+0.019%	$963K	$653K	10x	as long as short
Lighter WTI	−0.0008%	1h	93.179	−0.033%	$11.2M	$10.5M	20x	as long as short
KuCoin CLUSDTM	−0.0002%	4h	93.181	−0.031%	$7.1M	$2.4M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	93.188	−0.023%	$8K	$3K	5x	as long as short
Extended WTI-USD	0.0000%	1h	93.220	+0.011%	$2.1M	$21.2M	10x	as long as short
Bybit CLUSDT	0.0000%	8h	93.190	−0.021%	$26.8M	$80.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.243	+0.035%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.200	−0.011%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.185	−0.026%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.743	−0.501%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0015%	8h	93.156	−0.058%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	93.140	−0.075%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.200	−0.011%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.192	−0.019%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.180	−0.032%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0068%	1h	93.179	−0.033%	$329K	$622K	10x	as long as short
ApeX Omni CLUSDTlong	+0.0100%	1h	93.210	long leg	$56K	$265K	50x
Aevo WTIOIL-PERP	+0.0104%	1h	93.155	−0.059%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0173%	4h	93.180	−0.032%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0210% / S −0.0134%	1h	93.185	−0.027%	$79K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.31	+9.765%	$19K	$11K	30x	as long as short