Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0356%/8h= +39.0% APRpaid last 24h +0.091%

Price spread now: BloFin against Nado−0.054%7-day average −0.039% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$240.238% of the position

Long on Nado Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.279%+$28 on $10k

Price spread, last 3 days (all we have)−0.050%−$5 · spread now −0.054%, 7d avg −0.039%

Together, before fees+0.228%+ Points / potential airdropNado: Active · farm board+$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.039%, so right now this pair is about funding alone: +$11 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado WTI-PERP	92.230	−0.0116	get 0.0015% / 1h	48m 09s	$923K	$732K	10x
Short	BloFin CL-USDT	92.180	0.0240	get 0.0120% / 4h	3h 48m	$4.0M	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Nado. 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 NadobpFee BloFinbpOrdersPrice spread, now −0.054%Rate

Funding earned: $74.78
Price spread: −0.054% → −0.039%: −$1.49
Slippage, 4 orders: −$4.77
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $49.52
Costs to cover: 0.238%
Break-even: 2.4 days

Slippage from Nado: live order book, 25 min ago; BloFin: live order book, 5 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 Nado live order book, 25 min ago	0.05 bp	5.9 bp −$6	9.2 bp −$92	31.1 bp −$3,110	doesn't fit
Sell BloFin live order book, 5 min ago	1.09 bp	7.1 bp −$7	8.9 bp −$89	13.4 bp −$1,341	33.1 bp −$16.6K

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	−0.0536%	4h	92.166	−0.069%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0323%	4h	92.220	−0.011%	$23.9M	$79.9M	20x	as long as short
Gate CL_USDT	−0.0279%	8h	92.130	−0.108%	$21.3M	$54.4M	100x	as long as short
Binance CLUSDT	−0.0253%	4h	92.220	−0.011%	$245.2M	$1.08B	100x	as long as short
Variational Omni CL	−0.0236%	4h	92.101	−0.140%	$13.2M	$12.7M	—	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0184%	1h	92.230	0.000%	$96K	$189K	15x	as long as short
Bybit CLUSDT	−0.0125%	8h	92.220	−0.011%	$26.0M	$93.7M	150x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.230	0.000%	$273K	$1.2M	25x	as long as short
Nado WTI-PERPlong	−0.0116%	1h	92.230	long leg	$923K	$732K	10x
Ondo Perps WTI-USD.P	−0.0102%	1h	92.160	−0.076%	$3.5M	$6.2M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0058%	1h	92.235	+0.005%	$186.3M	$261.7M	20x	as long as short
Lighter WTI	−0.0040%	1h	92.220	−0.011%	$11.2M	$10.0M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.217%	$399K	$960K	15x	as long as short
QFEX CL-USD	−0.0040%	1h	92.160	−0.076%	$2.4M	$2.2M	10x	as long as short
Paradex CL-USD-PERP	−0.0034%	8h	92.155	−0.081%	$15K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	92.235	+0.006%	$8K	$3K	5x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.190	−0.043%	$42.9M	$111.2M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.290	+0.065%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.210	−0.022%	$41.9M	$51.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.260	+0.033%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.201	−0.031%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.792	−0.475%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	92.270	+0.043%	$2.0M	$26.7M	10x	as long as short
edgeX CLUSDC	+0.0036%	4h	92.162	−0.074%	$530K	$306K	30x	as long as short
StandX CL-USD	+0.0040%	1h	92.150	−0.087%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.220	−0.011%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.181	−0.053%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.211	−0.021%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.167	−0.069%	$353K	$596K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.231	+0.001%	$7.2M	$2.3M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.120	−0.119%	$55K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.195	−0.038%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.215	−0.016%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.38	+9.923%	$19K	$11K	30x	as long as short
BloFin CL-USDTshort	+0.0240%	4h	92.180	−0.054%	$4.0M	$1.4M	50x
Aftermath Perps WTIUSD	+0.0409%	1h	92.194	−0.039%	$2K	$29K	5x	as long as short