Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0198%/8h= −21.6% APRpaid last 24h −0.040%

Price spread now: Paradex against Injective−9.012%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 Paradex

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 airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Paradex is 9.012% cheaper against Injective than usual: you would sell low and buy high (−$901 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	101.93	0.0220	pay 0.0028% / 1h	38m 18s	$19K	$11K	30x
Short	Paradex CL-USD-PERP	92.747	0.0022	get 0.0022% / 8h	6h 38m	$16K	$367	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −9.012%Rate

Funding earned: −$41.49
Price spread: −9.012% → 0.000%: −$901.16
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$946.67
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Paradex: no order-book sample. 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 Paradex no order-book sample	—	—	—	—	—

Injective and Paradex: 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
Deribit WTIOIL_USDC-PERPETUAL	−0.0612%	1h	92.750	−9.009%	$198K	$366K	15x	as long as short
Aster CLUSD1	−0.0331%	4h	92.780	−8.979%	$23.9M	$74.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0298%	4h	92.740	−9.019%	$50K	$633K	25x	as long as short
Binance CLUSDT	−0.0273%	4h	92.780	−8.979%	$244.4M	$993.0M	100x	as long as short
Variational Omni CL	−0.0266%	4h	92.741	−9.018%	$13.3M	$11.1M	—	as long as short
Gate CL_USDT	−0.0155%	8h	92.740	−9.019%	$20.9M	$53.0M	100x	as long as short
tradeXYZ xyz:CL	−0.0070%	1h	92.767	−8.992%	$185.1M	$221.6M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0063%	1h	92.710	−9.048%	$3.5M	$5.7M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.030	−9.715%	$399K	$939K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.814	−8.946%	$275K	$870K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado WTI-PERP	−0.0035%	1h	92.811	−8.949%	$936K	$678K	10x	as long as short
QFEX CL-USD	−0.0033%	1h	92.750	−9.009%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0012%	4h	92.800	−8.960%	$42.8M	$106.4M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.754	−9.005%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.790	−8.970%	$26.3M	$83.1M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.776	−8.983%	$41.9M	$45.8M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	−8.970%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.772	−8.987%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.355	−9.396%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0008%	1h	92.830	−8.930%	$2.1M	$25.0M	10x	as long as short
Paradex CL-USD-PERPshort	+0.0022%	8h	92.747	−9.012%	$16K	$367	5x
Lighter WTI	+0.0032%	1h	92.781	−8.978%	$11.2M	$10.2M	20x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.876	−8.885%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.340	−9.411%	$726K	$3.0M	40x	as long as short
Aftermath Perps WTIUSD	+0.0046%	1h	92.757	−9.002%	$2K	$28K	5x	as long as short
Vest CL-PERP	+0.0046%	1h	92.780	−8.979%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.770	−8.989%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.782	−8.977%	$2.1M	$61K	20x	as long as short
KuCoin CLUSDTM	+0.0068%	4h	92.769	−8.990%	$7.2M	$2.3M	50x	as long as short
edgeX CLUSDC	+0.0069%	4h	92.761	−8.998%	$533K	$297K	30x	as long as short
Pacifica CL	+0.0100%	1h	92.758	−9.001%	$331K	$616K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.800	−8.960%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.756	−9.003%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.785	−8.975%	$78K	—	111x	as long as short
Injective WTI/USDC PERPlong	+0.0220%	1h	101.93	long leg	$19K	$11K	30x
BloFin CL-USDT	+0.0228%	4h	92.730	−9.028%	$4.0M	$1.2M	50x	as long as short