Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0159%/8h= −17.4% APRpaid last 24h −0.036%

Price spread now: edgeX against Injective−9.036%7-day average — · you buy dearer than you sell

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

Long on Injective Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and edgeX is 9.036% cheaper against Injective than usual: you would sell low and buy high (−$904 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	Injective WTI/USDC PERP	102.04	0.0220	pay 0.0028% / 1h	16m 44s	$19K	$11K	30x
Short	edgeX CLUSDC	92.816	0.0061	get 0.0031% / 4h	2h 16m	$528K	$303K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Injective. 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 InjectivebpFee edgeXbpOrdersPrice spread, now −9.036%Rate

Funding earned: −$33.36
Price spread: −9.036% → 0.000%: −$903.59
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$945.97
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; edgeX: live order book, 52 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 Injective no order-book sample	—	—	—	—	—
Sell edgeX live order book, 52 min ago	10.10 bp	14.6 bp −$15	15.0 bp −$150	22.9 bp −$2,289	doesn't fit

Injective: 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 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-PERPETUAL	−0.0503%	1h	92.840	−9.013%	$198K	$365K	15x	as long as short
Aster CLUSD1	−0.0289%	4h	92.970	−8.885%	$24.0M	$72.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0258%	4h	92.840	−9.013%	$53K	$631K	25x	as long as short
Variational Omni CL	−0.0250%	4h	92.718	−9.132%	$13.3M	$11.0M	—	as long as short
Binance CLUSDT	−0.0247%	4h	92.940	−8.915%	$244.7M	$977.4M	100x	as long as short
Gate CL_USDT	−0.0113%	8h	92.900	−8.954%	$20.9M	$53.9M	100x	as long as short
Nado WTI-PERP	−0.0068%	1h	92.989	−8.867%	$965K	$675K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−9.101%	$402K	$946K	15x	as long as short
tradeXYZ xyz:CL	−0.0047%	1h	92.934	−8.920%	$184.7M	$220.5M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.938	−8.917%	$274K	$884K	25x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps WTI-USD.P	−0.0038%	1h	92.880	−8.973%	$3.5M	$5.7M	20x	as long as short
QFEX CL-USD	−0.0033%	1h	92.890	−8.964%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0018%	4h	92.950	−8.905%	$42.9M	$105.0M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.911	−8.943%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.970	−8.885%	$26.9M	$82.1M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.933	−8.921%	$42.0M	$44.1M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.920	−8.934%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.894	−8.960%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.417	−9.427%	$5K	—	150x	as long as short
Aftermath Perps WTIUSD	+0.0013%	1h	92.836	−9.016%	$2K	$28K	5x	as long as short
Paradex CL-USD-PERP	+0.0029%	8h	92.929	−8.925%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	92.934	−8.920%	$11.2M	$10.4M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.980	−8.875%	$2.1M	$24.3M	10x	as long as short
RISEx CL/USDC	+0.0037%	1h	93.041	−8.815%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.430	−9.414%	$726K	$3.0M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.900	−8.954%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.899	−8.955%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.895	−8.959%	$2.1M	$61K	20x	as long as short
edgeX CLUSDCshort	+0.0061%	4h	92.816	−9.036%	$528K	$303K	30x
KuCoin CLUSDTM	+0.0076%	4h	92.953	−8.902%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.952	−8.903%	$332K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.840	−9.013%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.866	−8.987%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.885	−8.968%	$78K	—	111x	as long as short
Injective WTI/USDC PERPlong	+0.0220%	1h	102.04	long leg	$19K	$11K	30x