Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0592%/8h= −64.8% APRpaid last 24h −0.019%

Price spread now: Deribit against edgeX+0.143%75s7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$410.410% of the position

Long on edgeX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.052%+$5 on $10k

Price spread, last 3 days (all we have)−0.194%−$19 · spread now +0.143%, 7d avg +0.019%

Together, before fees−0.142%+ Points / potential airdropedgeX: Active · farm board−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.124% dearer against edgeX than usual: you sell high and buy low (spread +0.143% now, against its 7-day average of +0.019%): +$12 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 17 hours. Mind the row above: over the last 4 days funding on this pair paid +0.052%, so the current rate has only just turned against you. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.052% in total (about 5.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CLUSDC	92.738	0.0089	pay 0.0044% / 4h	2h 18m	$533K	$298K	30x
Short	Deribit WTIOIL_USDC-PERPETUAL	92.870	−0.0503	pay 0.0063% / 1h	18m 13s	$198K	$365K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.143%Rate

Funding earned: −$124.33
Price spread: +0.143% → +0.019%: $12.37
Slippage, 4 orders: −$24.96
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$152.92
Costs to cover: 0.410%
Break-even: never at this rate

Slippage from edgeX: live order book, 50 min ago; Deribit: live order book, 50 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, 50 min ago	10.10 bp	14.6 bp −$15	14.8 bp −$148	21.2 bp −$2,119	doesn't fit
Sell Deribit live order book, 50 min ago	0.54 bp	4.0 bp −$4	5.6 bp −$56	doesn't fit	doesn't fit

CL on 35 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-PERPETUALshort	−0.0503%	1h	92.870	+0.143%	$198K	$365K	15x
Aster CLUSD1	−0.0297%	4h	92.917	+0.193%	$24.0M	$72.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0266%	4h	92.727	−0.011%	$53K	$631K	25x	as long as short
Binance CLUSDT	−0.0253%	4h	92.940	+0.218%	$244.7M	$977.2M	100x	as long as short
Variational Omni CL	−0.0250%	4h	92.718	−0.022%	$13.3M	$11.0M	—	as long as short
Gate CL_USDT	−0.0114%	8h	92.880	+0.153%	$20.9M	$53.8M	100x	as long as short
Nado WTI-PERP	−0.0066%	1h	92.942	+0.221%	$966K	$674K	10x	as long as short
tradeXYZ xyz:CL	−0.0049%	1h	92.936	+0.214%	$184.7M	$220.5M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	+0.013%	$402K	$946K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0039%	1h	92.840	+0.110%	$3.5M	$5.7M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.954	+0.233%	$274K	$884K	25x	as long as short
QFEX CL-USD	−0.0033%	1h	92.870	+0.143%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0020%	4h	92.920	+0.196%	$42.8M	$105.1M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.911	+0.187%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.960	+0.240%	$26.9M	$82.2M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.936	+0.214%	$42.0M	$44.1M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	+0.056%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.909	+0.185%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.447	−0.314%	$5K	—	150x	as long as short
Aftermath Perps WTIUSD	+0.0017%	1h	92.811	+0.079%	$2K	$28K	5x	as long as short
Paradex CL-USD-PERP	+0.0028%	8h	92.875	+0.148%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	92.907	+0.182%	$11.2M	$10.4M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.940	+0.218%	$2.1M	$24.4M	10x	as long as short
RISEx CL/USDC	+0.0037%	1h	93.015	+0.299%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.430	−0.332%	$726K	$3.0M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.910	+0.186%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.909	+0.185%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.905	+0.180%	$2.1M	$61K	20x	as long as short
KuCoin CLUSDTM	+0.0074%	4h	92.935	+0.213%	$7.2M	$2.3M	50x	as long as short
edgeX CLUSDClong	+0.0089%	4h	92.738	long leg	$533K	$298K	30x
Pacifica CL	+0.0100%	1h	92.902	+0.177%	$332K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.740	+0.002%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.866	+0.138%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.905	+0.180%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.04	+10.026%	$19K	$11K	30x	as long as short