Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0043%/8h= +4.7% APRpaid last 24h +0.020%

Price spread now: Ondo Perps against Binance−0.054%7-day average −0.080% · you buy dearer than you sell

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

Long on Binance Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.183%+$18 on $10k

Price spread, last 7 days−0.227%−$23 · spread now −0.054%, 7d avg −0.080%

Together, before fees−0.044%+ Points / potential airdropOndo Perps: Active · farm board−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Ondo Perps is 0.027% dearer against Binance than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.080%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CLUSDT	93.360	−0.0198	get 0.0099% / 4h	2h 46m	$246.5M	$935.4M	100x
Short	Ondo Perps WTI-USD.P	93.310	−0.0155	pay 0.0019% / 1h	46m 58s	$3.5M	$5.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.054%Rate

Funding earned: $9.06
Price spread: −0.054% → −0.080%: $2.67
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$3.27
Costs to cover: 0.150%
Break-even: 9.5 days

Slippage unknown: Binance: live order book, 12 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 Binance live order book, 12 min ago	0.54 bp	5.5 bp −$6	6.2 bp −$62	8.1 bp −$806	19.8 bp −$9,891
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
Deribit WTIOIL_USDC-PERPETUAL	−0.0714%	1h	93.310	−0.054%	$197K	$372K	15x	as long as short
GRVT CL_USDT_Perp	−0.0346%	4h	93.320	−0.043%	$58K	$649K	25x	as long as short
Aster CLUSD1	−0.0299%	4h	93.374	+0.015%	$24.4M	$66.5M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.378	+0.019%	$283K	$962K	25x	as long as short
Binance CLUSDTlong	−0.0198%	4h	93.360	long leg	$246.5M	$935.4M	100x
Variational Omni CL	−0.0185%	4h	93.329	−0.034%	$13.3M	$10.9M	—	as long as short
Ondo Perps WTI-USD.Pshort	−0.0155%	1h	93.310	−0.054%	$3.5M	$5.4M	20x
Aftermath Perps WTIUSD	−0.0140%	1h	93.325	−0.037%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0134%	4h	93.340	−0.021%	$42.1M	$43.1M	100x	as long as short
Nado WTI-PERP	−0.0131%	1h	93.403	+0.046%	$967K	$621K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0075%	4h	93.307	−0.057%	$524K	$306K	30x	as long as short
Gate CL_USDT	−0.0074%	8h	93.300	−0.064%	$21.6M	$49.2M	100x	as long as short
tradeXYZ xyz:CL	−0.0071%	1h	93.359	−0.001%	$184.6M	$215.5M	20x	as long as short
OKX CL-USDT-SWAP	−0.0068%	4h	93.360	0.000%	$42.6M	$102.6M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	−0.214%	$403K	$929K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.340	−0.021%	$2.3M	$2.1M	10x	as long as short
Paradex CL-USD-PERP	−0.0011%	8h	93.330	−0.032%	$16K	$367	5x	as long as short
Lighter WTI	−0.0008%	1h	93.357	−0.003%	$11.2M	$9.8M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.329	−0.033%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.360	0.000%	$27.1M	$79.8M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.403	+0.047%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.390	+0.032%	$37K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.358	−0.002%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.907	−0.485%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	93.380	+0.021%	$2.0M	$17.9M	10x	as long as short
KuCoin CLUSDTM	+0.0034%	4h	93.367	+0.007%	$7.1M	$2.4M	50x	as long as short
StandX CL-USD	+0.0040%	1h	93.320	−0.043%	$738K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.360	0.000%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.352	−0.009%	$331K	$576K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.344	−0.017%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.355	−0.005%	$2.1M	$60K	20x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.420	+0.064%	$54K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.322	−0.041%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0172%	4h	93.350	−0.011%	$4.0M	$984K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.57	+9.867%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0232% / S −0.0164%	1h	93.365	+0.005%	$84K	—	111x	as long as short