Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h −0.006%

Price spread now: edgeX against Coinbase International−0.167%7-day average +0.102% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$440.443% of the position

Long on Coinbase International Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.021%−$2 on $10k

Price spread, last 4 days (all we have)+0.271%+$27 · spread now −0.167%, 7d avg +0.102%

Together, before fees+0.250%+ Points / potential airdropedgeX: Active · farm board+$25 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.269% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.167% now, against its 7-day average of +0.102%). If the spread goes back, that is −$27 on $10k: about 3 months of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WTIOIL-PERP-INTX	93.500	−0.0040	get 0.0005% / 1h	3m 06s	$404K	$931K	15x
Short	edgeX CLUSDC	93.344	−0.0030	pay 0.0015% / 4h	2h 03m	$525K	$306K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Coinbase International. 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 Coinbase InternationalbpFee edgeXbpOrdersPrice spread, now −0.167%Rate

Funding earned: $2.1
Price spread: −0.167% → +0.102%: −$26.86
Slippage, 4 orders: −$25.33
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$69.09
Costs to cover: 0.443%
Break-even: 237.3 days

Slippage from Coinbase International: live order book, 20 min ago; edgeX: live order book, 46 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 Coinbase International live order book, 20 min ago	1.61 bp	8.6 bp −$9	11.0 bp −$110	doesn't fit	doesn't fit
Sell edgeX live order book, 46 min ago	10.07 bp	14.6 bp −$15	14.7 bp −$147	21.3 bp −$2,126	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	−0.171%	$196K	$377K	15x	as long as short
GRVT CL_USDT_Perp	−0.0274%	4h	93.368	−0.142%	$58K	$629K	25x	as long as short
Aster CLUSD1	−0.0274%	4h	93.395	−0.112%	$24.4M	$64.5M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.392	−0.115%	$285K	$959K	25x	as long as short
Binance CLUSDT	−0.0168%	4h	93.370	−0.139%	$246.2M	$931.1M	100x	as long as short
Variational Omni CL	−0.0163%	4h	93.349	−0.162%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0148%	1h	93.407	−0.100%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0120%	4h	93.341	−0.170%	$42.1M	$42.7M	100x	as long as short
Nado WTI-PERP	−0.0103%	1h	93.449	−0.055%	$971K	$629K	10x	as long as short
Gate CL_USDT	−0.0083%	8h	93.300	−0.214%	$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	−0.155%	$184.7M	$212.3M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0076%	1h	93.370	−0.139%	$3.5M	$5.4M	20x	as long as short
Coinbase International WTIOIL-PERP-INTXlong	−0.0040%	1h	93.500	long leg	$404K	$931K	15x
OKX CL-USDT-SWAP	−0.0036%	4h	93.360	−0.150%	$42.6M	$101.8M	50x	as long as short
QFEX CL-USD	−0.0032%	1h	93.380	−0.128%	$2.3M	$2.5M	10x	as long as short
edgeX CLUSDCshort	−0.0030%	4h	93.344	−0.167%	$525K	$306K	30x
dYdX WTI-USD	0.0000%	1h	93.405	−0.101%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.390	−0.118%	$27.0M	$79.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.425	−0.080%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.410	−0.096%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.375	−0.134%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.910	−0.631%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0021%	8h	93.383	−0.125%	$16K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	93.372	−0.137%	$11.3M	$10.0M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.400	−0.107%	$2.0M	$16.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.450	−0.053%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.380	−0.128%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.405	−0.102%	$332K	$577K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.366	−0.143%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.362	−0.148%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.416	−0.090%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.440	−0.064%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.347	−0.164%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0203%	4h	93.350	−0.160%	$4.0M	$988K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.64	+9.781%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0241% / S −0.0174%	1h	93.365	−0.144%	$84K	—	111x	as long as short