Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.017%

Price spread now: Variational Omni against Bitget−0.318%7-day average −0.022% · you buy dearer than you sell

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

Long on Bitget Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.006%+$1 on $10k

Price spread, last 7 days+0.318%+$32 · spread now −0.318%, 7d avg −0.022%

Together, before fees+0.324%+ Points / potential airdropVariational Omni: Active · farm board+$32 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.296% cheaper against Bitget than usual: you would sell low and buy high, −$30 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CLUSDT	90.757	−0.0100	get 0.0050% / 4h	2h 58m	$40.8M	$45.7M	100x
Short	Variational Omni CL	90.468	−0.0100	pay 0.0050% / 4h	2h 58m	$13.0M	$11.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bitget. 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 BitgetbpFee Variational OmnibpOrdersPrice spread, now −0.318%Rate

Funding earned: $0.06
Price spread: −0.318% → −0.022%: −$29.6
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$41.54
Costs to cover: 0.120%
Break-even: 4686.4 days

Slippage unknown: Bitget: live order book, 5 min ago; Variational Omni: RFQ quote, just now. 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 Bitget live order book, 5 min ago	0.66 bp	7.7 bp −$8	9.5 bp −$95	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, just now	2.29 bp	doesn't fit	2.3 bp −$23	4.6 bp −$462	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
Kraken Futures PF_WTIOILUSD	−0.0365%	1h	90.664	−0.103%	$270K	$1.0M	25x	as long as short
Aster CLUSD1	−0.0200%	4h	90.800	+0.047%	$24.5M	$61.2M	20x	as long as short
Binance CLUSDT	−0.0121%	4h	90.779	+0.025%	$245.6M	$1.03B	100x	as long as short
Bitget CLUSDTlong	−0.0100%	4h	90.757	long leg	$40.8M	$45.7M	100x
Variational Omni CLshort	−0.0100%	4h	90.468	−0.318%	$13.0M	$11.0M	—
Nado WTI-PERP	−0.0099%	1h	90.561	−0.216%	$938K	$613K	10x	as long as short
Gate CL_USDT	−0.0087%	8h	90.690	−0.074%	$23.0M	$50.4M	100x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0081%	1h	90.640	−0.129%	$181K	$415K	15x	as long as short
GRVT CL_USDT_Perp	−0.0066%	4h	90.468	−0.319%	$70K	$616K	25x	as long as short
edgeX CLUSDC	−0.0062%	4h	90.306	−0.497%	$518K	$352K	30x	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	−0.0045%	4h	90.790	+0.036%	$41.2M	$111.2M	50x	as long as short
Aftermath Perps WTIUSD	−0.0030%	1h	90.601	−0.172%	$1K	$27K	5x	as long as short
QFEX CL-USD	−0.0026%	1h	90.500	−0.283%	$2.2M	$2.9M	10x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	89.952	−0.887%	$1K	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	90.488	−0.296%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	90.821	+0.071%	$26.1M	$90.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	90.619	−0.152%	$2.9M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	90.586	−0.188%	$18K	$238K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0008%	1h	90.590	−0.184%	$408K	$1.0M	15x	as long as short
Phoenix WTIOIL	+0.0009%	1h	90.470	−0.316%	$36K	$36K	20x	as long as short
Paradex CL-USD-PERP	+0.0017%	8h	90.503	−0.280%	$15K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	90.689	−0.075%	$11.0M	$8.9M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	90.810	+0.058%	$1.6M	$13.7M	10x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	102.13	+12.536%	$19K	$5K	30x	as long as short
StandX CL-USD	+0.0040%	1h	90.340	−0.459%	$703K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	90.510	−0.272%	—	$313K	10x	as long as short
tradeXYZ xyz:CL	+0.0050%	1h	90.715	−0.046%	$176.6M	$206.3M	20x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	90.522	−0.259%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	90.699	−0.064%	$2.0M	$82K	20x	as long as short
Ondo Perps WTI-USD.P	+0.0050%	1h	90.440	−0.349%	$3.5M	$5.2M	20x	as long as short
Pacifica CL	+0.0100%	1h	90.461	−0.327%	$334K	$573K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	90.791	+0.037%	$6.9M	$2.8M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	90.490	−0.294%	$53K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	90.608	−0.164%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0192%	4h	90.710	−0.052%	$4.0M	$999K	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0254% / S −0.0184%	1h	90.485	−0.300%	$84K	—	111x	as long as short