Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0223%/8h= −24.4% APRpaid last 24h −0.015%

Price spread now: Variational Omni against dYdX−0.155%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Variational Omni is 0.155% cheaper against dYdX than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX WTI-USD	92.235	0	get 0.0000% / 1h	51m 50s	$8K	$3K	5x
Short	Variational Omni CL	92.093	−0.0223	pay 0.0111% / 4h	3h 51m	$13.2M	$12.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against dYdX. 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 dYdXbpFee Variational OmnibpOrdersPrice spread, now −0.155%Rate

Funding earned: −$46.73
Price spread: −0.155% → 0.000%: −$15.46
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$72.19
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: dYdX: no order-book sample; Variational Omni: RFQ quote, 2 min ago. 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 dYdX no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 2 min ago	2.27 bp	doesn't fit	3.4 bp −$34	7.3 bp −$726	doesn't fit

dYdX: 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
GRVT CL_USDT_Perp	−0.0566%	4h	92.074	−0.175%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0315%	4h	92.191	−0.048%	$23.9M	$79.0M	20x	as long as short
Binance CLUSDT	−0.0245%	4h	92.140	−0.103%	$245.0M	$1.09B	100x	as long as short
Gate CL_USDT	−0.0239%	8h	92.100	−0.146%	$21.3M	$54.3M	100x	as long as short
Variational Omni CLshort	−0.0223%	4h	92.093	−0.155%	$13.2M	$12.7M	—
Deribit WTIOIL_USDC-PERPETUAL	−0.0184%	1h	92.210	−0.027%	$96K	$189K	15x	as long as short
Bybit CLUSDT	−0.0157%	8h	92.142	−0.101%	$26.0M	$93.8M	150x	as long as short
Nado WTI-PERP	−0.0130%	1h	92.235	0.000%	$923K	$732K	10x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.220	−0.016%	$273K	$1.2M	25x	as long as short
Ondo Perps WTI-USD.P	−0.0074%	1h	92.110	−0.136%	$3.5M	$6.2M	20x	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	−0.0066%	1h	92.167	−0.074%	$185.7M	$261.4M	20x	as long as short
Lighter WTI	−0.0048%	1h	92.146	−0.097%	$11.2M	$9.9M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.222%	$399K	$961K	15x	as long as short
QFEX CL-USD	−0.0040%	1h	92.180	−0.060%	$2.4M	$2.2M	10x	as long as short
Paradex CL-USD-PERP	−0.0033%	8h	92.136	−0.107%	$15K	$367	5x	as long as short
dYdX WTI-USDlong	0.0000%	1h	92.235	long leg	$8K	$3K	5x
OKX CL-USDT-SWAP	0.0000%	4h	92.130	−0.114%	$42.9M	$111.2M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.294	+0.064%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.157	−0.085%	$41.9M	$51.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.280	+0.049%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.194	−0.045%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.784	−0.489%	$5K	—	150x	as long as short
ApeX Omni CLUSDT	+0.0006%	1h	92.130	−0.114%	$56K	$265K	50x	as long as short
Extended WTI-USD	+0.0032%	1h	92.240	+0.005%	$2.0M	$26.7M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.160	−0.081%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.240	+0.005%	—	$308K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.203	−0.035%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.180	−0.060%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0055%	4h	92.179	−0.061%	$530K	$305K	30x	as long as short
Pacifica CL	+0.0100%	1h	92.146	−0.096%	$353K	$596K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.182	−0.058%	$7.2M	$2.3M	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.206	−0.032%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0205% / S −0.0131%	1h	92.195	−0.043%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.38	+9.917%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.120	−0.125%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0446%	1h	92.161	−0.080%	$2K	$29K	5x	as long as short