Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0065%/8h= −7.1% APRpaid last 24h −0.021%

Price spread now: tradeXYZ against edgeX+0.032%86s7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

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

costs, in and out, $10k−$480.482% of the position

Long on edgeX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.182%+$18 on $10k

Price spread, last 3 days (all we have)−0.016%−$2 · spread now +0.032%, 7d avg +0.014%

Together, before fees+0.166%+ Points / potential airdropedgeX: Active · tradeXYZ: Active · farm board+$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.182%, so the current rate has only just turned against you. The two prices were read 86 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CLUSDC	92.691	0.0035	pay 0.0017% / 4h	2h 59m	$533K	$300K	30x
Short	tradeXYZ xyz:CL	92.721	−0.0030	pay 0.0004% / 1h	59m 49s	$186.4M	$234.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$13.64
Price spread: +0.032% → +0.014%: $1.8
Slippage, 4 orders: −$21.15
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$59.99
Costs to cover: 0.482%
Break-even: never at this rate

Slippage from edgeX: live order book, 9 min ago; tradeXYZ: live order book, 10 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, 9 min ago	10.10 bp	14.6 bp −$15	14.8 bp −$148	21.2 bp −$2,119	doesn't fit
Sell tradeXYZ live order book, 10 min ago	0.22 bp	9.6 bp −$10	10.1 bp −$101	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
GRVT CL_USDT_Perp	−0.0346%	4h	92.649	−0.045%	$58K	$630K	25x	as long as short
Aster CLUSD1	−0.0339%	4h	92.740	+0.053%	$24.0M	$75.0M	20x	as long as short
Binance CLUSDT	−0.0283%	4h	92.710	+0.020%	$244.6M	$1.02B	100x	as long as short
Variational Omni CL	−0.0273%	4h	92.659	−0.035%	$13.3M	$11.4M	—	as long as short
Gate CL_USDT	−0.0187%	8h	92.640	−0.055%	$21.3M	$55.7M	100x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0119%	1h	92.735	+0.047%	$275K	$912K	25x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0073%	1h	92.720	+0.031%	$123K	$274K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0051%	1h	92.670	−0.023%	$3.5M	$5.9M	20x	as long as short
Nado WTI-PERP	−0.0050%	1h	92.782	+0.098%	$935K	$701K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.713%	$399K	$956K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0040%	1h	92.710	+0.020%	$2.5M	$1.7M	10x	as long as short
tradeXYZ xyz:CLshort	−0.0030%	1h	92.721	+0.032%	$186.4M	$234.2M	20x
OKX CL-USDT-SWAP	−0.0004%	4h	92.680	−0.012%	$42.9M	$108.6M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.742	+0.055%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.720	+0.031%	$26.4M	$87.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.851	+0.172%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.687	−0.004%	$42.2M	$47.9M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.740	+0.053%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.714	+0.024%	$19K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.271	−0.453%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0012%	8h	92.701	+0.010%	$15K	$367	5x	as long as short
Extended WTI-USD	+0.0016%	1h	92.740	+0.053%	$2.3M	$25.5M	10x	as long as short
Lighter WTI	+0.0032%	1h	92.716	+0.027%	$11.2M	$10.3M	20x	as long as short
edgeX CLUSDClong	+0.0035%	4h	92.691	long leg	$533K	$300K	30x
StandX CL-USD	+0.0040%	1h	92.360	−0.357%	$722K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.720	+0.031%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.735	+0.047%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.716	+0.027%	$2.1M	$59K	20x	as long as short
KuCoin CLUSDTM	+0.0078%	4h	92.732	+0.044%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.699	+0.008%	$354K	$605K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.780	+0.096%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.687	−0.004%	$4K	—	10x	as long as short
Aftermath Perps WTIUSD	+0.0118%	1h	92.704	+0.014%	$2K	$28K	5x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.715	+0.026%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.69	+9.709%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0238%	4h	92.660	−0.033%	$4.0M	$1.2M	50x	as long as short