Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0039%/8h= −4.2% APRpaid last 24h +0.006%

Price spread now: Coinbase International against edgeX+0.134%7-day average −0.102% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

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

Long on edgeX Short on Coinbase International

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)−0.238%−$24 · spread now +0.134%, 7d avg −0.102%

Together, before fees−0.217%+ Points / potential airdropedgeX: Active · farm board−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.236% dearer against edgeX than usual: you sell high and buy low (spread +0.134% now, against its 7-day average of −0.102%): +$24 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 20 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CLUSDC	93.375	−0.0001	get 0.0001% / 4h	2h 05m	$525K	$306K	30x
Short	Coinbase International WTIOIL-PERP-INTX	93.500	−0.0040	pay 0.0005% / 1h	5m 23s	$404K	$931K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against edgeX. 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 edgeXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.134%Rate

Funding earned: −$8.11
Price spread: +0.134% → −0.102%: $23.56
Slippage, 4 orders: −$25.33
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$28.87
Costs to cover: 0.443%
Break-even: never at this rate

Slippage from edgeX: live order book, 43 min ago; Coinbase International: live order book, 18 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 edgeX live order book, 43 min ago	10.07 bp	14.6 bp −$15	14.9 bp −$149	21.5 bp −$2,148	doesn't fit
Sell Coinbase International live order book, 18 min ago	1.61 bp	6.6 bp −$7	8.4 bp −$84	doesn't fit	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	−0.0285%	1h	93.340	−0.038%	$196K	$377K	15x	as long as short
Aster CLUSD1	−0.0276%	4h	93.364	−0.012%	$24.4M	$64.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0274%	4h	93.368	−0.008%	$58K	$629K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.380	+0.005%	$285K	$959K	25x	as long as short
Binance CLUSDT	−0.0170%	4h	93.336	−0.042%	$246.1M	$931.2M	100x	as long as short
Variational Omni CL	−0.0163%	4h	93.349	−0.029%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0149%	1h	93.432	+0.061%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0120%	4h	93.348	−0.029%	$42.1M	$42.7M	100x	as long as short
Nado WTI-PERP	−0.0106%	1h	93.400	+0.027%	$971K	$630K	10x	as long as short
Gate CL_USDT	−0.0083%	8h	93.290	−0.091%	$22.0M	$50.4M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps WTI-USD.P	−0.0078%	1h	93.310	−0.070%	$3.5M	$5.4M	20x	as long as short
tradeXYZ xyz:CL	−0.0076%	1h	93.354	−0.023%	$184.7M	$212.3M	20x	as long as short
Coinbase International WTIOIL-PERP-INTXshort	−0.0040%	1h	93.500	+0.134%	$404K	$931K	15x
OKX CL-USDT-SWAP	−0.0038%	4h	93.360	−0.016%	$42.6M	$102.2M	50x	as long as short
QFEX CL-USD	−0.0032%	1h	93.360	−0.016%	$2.3M	$2.5M	10x	as long as short
edgeX CLUSDClong	−0.0001%	4h	93.375	long leg	$525K	$306K	30x
dYdX WTI-USD	0.0000%	1h	93.405	+0.032%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.370	−0.006%	$27.0M	$79.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.410	+0.037%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.540	+0.176%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.363	−0.013%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.916	−0.492%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0020%	8h	93.342	−0.036%	$16K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	93.351	−0.026%	$11.2M	$9.9M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.390	+0.016%	$2.0M	$16.7M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.440	+0.069%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.360	−0.016%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.357	−0.019%	$332K	$577K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.347	−0.030%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.361	−0.015%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0096%	4h	93.377	+0.002%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.460	+0.091%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.338	−0.040%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0203%	4h	93.370	−0.006%	$4.0M	$988K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.64	+9.927%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0240% / S −0.0174%	1h	93.365	−0.011%	$84K	—	111x	as long as short