Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0126%/8h= +13.8% APRpaid last 24h +0.027%

Price spread now: Coinbase International against Binance+0.014%7-day average −0.149% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$260.263% of the position

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.109%−$11 on $10k

Price spread, last 4 days (all we have)−0.239%−$24 · spread now +0.014%, 7d avg −0.149%

Together, before fees−0.348%−$35 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 0.163% dearer against Binance than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.149%. Mind the row above: over the last 7 days funding on this pair cost −0.109%, 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	Binance CLUSDT	93.487	−0.0166	get 0.0083% / 4h	2h 01m	$246.5M	$930.5M	100x
Short	Coinbase International WTIOIL-PERP-INTX	93.500	−0.0040	pay 0.0005% / 1h	1m 32s	$404K	$931K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Binance. 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 BinancebpFee Coinbase InternationalbpOrdersPrice spread, now +0.014%Rate

Funding earned: $26.56
Price spread: +0.014% → −0.149%: $16.27
Slippage, 4 orders: −$6.25
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $16.58
Costs to cover: 0.263%
Break-even: 2.6 days

Slippage from Binance: live order book, 12 min ago; Coinbase International: live order book, 22 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 Binance live order book, 12 min ago	0.54 bp	5.5 bp −$6	5.5 bp −$55	9.5 bp −$954	22.7 bp −$11.3K
Sell Coinbase International live order book, 22 min ago	1.61 bp	6.6 bp −$7	8.4 bp −$84	doesn't fit	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	−0.0285%	1h	93.400	−0.093%	$196K	$377K	15x	as long as short
GRVT CL_USDT_Perp	−0.0274%	4h	93.348	−0.149%	$58K	$629K	25x	as long as short
Aster CLUSD1	−0.0274%	4h	93.510	+0.024%	$24.4M	$64.5M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.432	−0.059%	$285K	$959K	25x	as long as short
Binance CLUSDTlong	−0.0166%	4h	93.487	long leg	$246.5M	$930.5M	100x
Variational Omni CL	−0.0163%	4h	93.349	−0.148%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0147%	1h	93.396	−0.098%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0120%	4h	93.468	−0.021%	$42.2M	$42.7M	100x	as long as short
Nado WTI-PERP	−0.0101%	1h	93.519	+0.034%	$972K	$628K	10x	as long as short
Gate CL_USDT	−0.0083%	8h	93.420	−0.072%	$22.1M	$50.5M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0076%	1h	93.467	−0.022%	$185.0M	$212.3M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0074%	1h	93.440	−0.051%	$3.5M	$5.4M	20x	as long as short
edgeX CLUSDC	−0.0060%	4h	93.379	−0.116%	$525K	$306K	30x	as long as short
Coinbase International WTIOIL-PERP-INTXshort	−0.0040%	1h	93.500	+0.014%	$404K	$931K	15x
OKX CL-USDT-SWAP	−0.0034%	4h	93.480	−0.008%	$42.7M	$102.0M	50x	as long as short
QFEX CL-USD	−0.0032%	1h	93.480	−0.008%	$2.3M	$2.5M	10x	as long as short
dYdX WTI-USD	0.0000%	1h	93.500	+0.014%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.498	+0.011%	$27.0M	$79.4M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.525	+0.040%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.410	−0.083%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.397	−0.097%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.970	−0.553%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0022%	8h	93.454	−0.036%	$16K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	93.472	−0.016%	$11.3M	$10.0M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.490	+0.003%	$2.0M	$16.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.450	−0.040%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.470	−0.018%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.476	−0.012%	$332K	$577K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.472	−0.016%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.413	−0.079%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.492	+0.005%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.440	−0.051%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.387	−0.108%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0203%	4h	93.350	−0.147%	$4.0M	$988K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.64	+9.796%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0241% / S −0.0175%	1h	93.400	−0.093%	$84K	—	111x	as long as short