Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0200%/8h= +21.9% APRpaid last 24h +0.035%

Price spread now: Extended against Binance+0.038%7-day average −0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs+$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$180.178% of the position

Long on Binance Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.202%+$20 on $10k

Price spread, last 7 days−0.086%−$9 · spread now +0.038%, 7d avg −0.045%

Together, before fees+0.117%+ Points / potential airdropExtended: Active · farm board+$12 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 0.083% dearer against Binance than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CLUSDT	93.365	−0.0168	get 0.0084% / 4h	2h 03m	$246.2M	$931.2M	100x
Short	Extended WTI-USD	93.400	0.0032	get 0.0004% / 1h	3m 02s	$2.0M	$16.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.038%Rate

Funding earned: $41.97
Price spread: +0.038% → −0.045%: $8.32
Slippage, 4 orders: −$2.79
Fee Binance: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $32.5
Costs to cover: 0.178%
Break-even: 1.6 days

Slippage from Binance: live order book, 11 min ago; Extended: live order book, 6 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, 11 min ago	0.54 bp	5.5 bp −$6	5.5 bp −$55	9.5 bp −$954	22.7 bp −$11.3K
Sell Extended live order book, 6 min ago	0.11 bp	3.3 bp −$3	6.1 bp −$61	23.4 bp −$2,345	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	−0.0392%	1h	93.340	−0.026%	$196K	$377K	15x	as long as short
GRVT CL_USDT_Perp	−0.0274%	4h	93.368	+0.003%	$58K	$629K	25x	as long as short
Aster CLUSD1	−0.0274%	4h	93.395	+0.032%	$24.4M	$64.5M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.392	+0.030%	$285K	$959K	25x	as long as short
Binance CLUSDTlong	−0.0168%	4h	93.365	long leg	$246.2M	$931.2M	100x
Variational Omni CL	−0.0163%	4h	93.349	−0.017%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0148%	1h	93.407	+0.045%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0120%	4h	93.355	−0.010%	$42.1M	$42.7M	100x	as long as short
Nado WTI-PERP	−0.0103%	1h	93.449	+0.090%	$971K	$629K	10x	as long as short
Gate CL_USDT	−0.0083%	8h	93.300	−0.069%	$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	93.355	−0.010%	$184.7M	$212.3M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0076%	1h	93.370	+0.006%	$3.5M	$5.4M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.500	+0.145%	$404K	$931K	15x	as long as short
OKX CL-USDT-SWAP	−0.0036%	4h	93.360	−0.005%	$42.6M	$101.8M	50x	as long as short
QFEX CL-USD	−0.0032%	1h	93.380	+0.017%	$2.3M	$2.5M	10x	as long as short
edgeX CLUSDC	−0.0030%	4h	93.344	−0.022%	$525K	$306K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	93.405	+0.044%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.385	+0.022%	$27.0M	$79.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.425	+0.065%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.410	+0.049%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.375	+0.011%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.910	−0.487%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0021%	8h	93.383	+0.020%	$16K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	93.372	+0.008%	$11.3M	$10.0M	20x	as long as short
Extended WTI-USDshort	+0.0032%	1h	93.400	+0.038%	$2.0M	$16.6M	10x
StandX CL-USD	+0.0040%	1h	93.450	+0.092%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.380	+0.017%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.405	+0.043%	$332K	$577K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.366	+0.002%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.362	−0.003%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.416	+0.055%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.440	+0.081%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.347	−0.019%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0203%	4h	93.350	−0.016%	$4.0M	$988K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.64	+9.940%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0241% / S −0.0174%	1h	93.365	+0.001%	$84K	—	111x	as long as short