Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0238%/8h= +26.1% APRpaid last 24h +0.009%

Price spread now: Nado against Aster−0.063%58s7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$180.182% of the position

Long on Aster Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.039%−$4 on $10k

Price spread, last 7 days+0.013%+$1 · spread now −0.063%, 7d avg −0.025%

Together, before fees−0.026%+ Points / potential airdropAster: Stage 5 · Nado: Active · farm board−$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.038% cheaper against Aster than usual: you would sell low and buy high (spread −0.063% now, against its 7-day average of −0.025%). If the spread goes back, that is −$4 on $10k: about 13 hours of funding at the current rate (+$7 a day). The two prices were read 58 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 -0.039% in total (about -4.4% 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	Aster CLUSD1	92.870	−0.0301	get 0.0150% / 4h	2h 19m	$24.0M	$72.6M	20x
Short	Nado WTI-PERP	92.811	−0.0062	pay 0.0008% / 1h	19m 36s	$965K	$674K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Aster. 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 AsterbpFee NadobpOrdersPrice spread, now −0.063%Rate

Funding earned: $50.05
Price spread: −0.063% → −0.025%: −$3.82
Slippage, 4 orders: −$3.22
Fee Aster: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $28.01
Costs to cover: 0.182%
Break-even: 3.1 days

Slippage from Aster: live order book, 5 min ago; Nado: live order book, 49 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 Aster live order book, 5 min ago	0.54 bp	4.5 bp −$5	4.7 bp −$47	doesn't fit	doesn't fit
Sell Nado live order book, 49 min ago	0.05 bp	4.7 bp −$5	9.2 bp −$92	29.7 bp −$2,974	doesn't fit

CL on 35 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	−0.0504%	1h	92.720	−0.162%	$198K	$365K	15x	as long as short
Aster CLUSD1long	−0.0301%	4h	92.870	long leg	$24.0M	$72.6M	20x
GRVT CL_USDT_Perp	−0.0266%	4h	92.727	−0.154%	$53K	$631K	25x	as long as short
Binance CLUSDT	−0.0253%	4h	92.860	−0.011%	$244.5M	$977.0M	100x	as long as short
Variational Omni CL	−0.0250%	4h	92.718	−0.164%	$13.3M	$11.0M	—	as long as short
Gate CL_USDT	−0.0118%	8h	92.790	−0.086%	$20.9M	$53.7M	100x	as long as short
Nado WTI-PERPshort	−0.0062%	1h	92.811	−0.063%	$965K	$674K	10x
tradeXYZ xyz:CL	−0.0052%	1h	92.835	−0.038%	$184.5M	$220.4M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.129%	$402K	$946K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0039%	1h	92.690	−0.194%	$3.5M	$5.7M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.792	−0.084%	$268K	$879K	25x	as long as short
QFEX CL-USD	−0.0033%	1h	92.810	−0.065%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0020%	4h	92.820	−0.054%	$42.8M	$104.9M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.836	−0.036%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.890	+0.022%	$26.9M	$82.2M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.832	−0.041%	$41.9M	$44.1M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	−0.086%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.755	−0.124%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.315	−0.598%	$5K	—	150x	as long as short
Aftermath Perps WTIUSD	+0.0024%	1h	92.753	−0.126%	$2K	$28K	5x	as long as short
Paradex CL-USD-PERP	+0.0028%	8h	92.820	−0.053%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	92.810	−0.065%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.870	0.000%	$2.1M	$24.5M	10x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.951	+0.087%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.350	−0.560%	$726K	$3.0M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.780	−0.097%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.767	−0.111%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.751	−0.128%	$2.1M	$61K	20x	as long as short
KuCoin CLUSDTM	+0.0072%	4h	92.840	−0.032%	$7.2M	$2.3M	50x	as long as short
edgeX CLUSDC	+0.0089%	4h	92.738	−0.142%	$533K	$298K	30x	as long as short
Pacifica CL	+0.0100%	1h	92.834	−0.039%	$331K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.820	−0.054%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.720	−0.162%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.755	−0.124%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.83	+9.651%	$19K	$11K	30x	as long as short