Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0132%/8h= +14.4% APRpaid last 24h +0.019%

Price spread now: OKX against Nado−0.110%7-day average +0.018% · 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−$33as in the Price arb table

costs, in and out, $10k−$200.205% of the position

Long on Nado Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.037%+$4 on $10k

Price spread, last 7 days+0.188%+$19 · spread now −0.110%, 7d avg +0.018%

Together, before fees+0.225%+ Points / potential airdropNado: Active · farm board+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.128% cheaper against Nado than usual: you would sell low and buy high (spread −0.110% now, against its 7-day average of +0.018%). If the spread goes back, that is −$13 on $10k: about 3.2 days of funding at the current rate (+$4 a day). At the pace of the last 3 days (+0.037% in total) that is about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado WTI-PERP	92.271	−0.0132	get 0.0016% / 1h	13m 59s	$925K	$737K	10x
Short	OKX CL-USDT-SWAP	92.170	0	get 0.0000% / 4h	13m 59s	$42.9M	$112.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.110%Rate

Funding earned: $27.64
Price spread: −0.110% → +0.018%: −$12.79
Slippage, 4 orders: −$3.46
Fee Nado: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$5.61
Costs to cover: 0.205%
Break-even: 8.4 days

Slippage from Nado: live order book, 64 min ago; OKX: 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, 64 min ago	0.11 bp	5.2 bp −$5	9.6 bp −$96	32.3 bp −$3,230	doesn't fit
Sell OKX live order book, 5 min ago	0.54 bp	5.5 bp −$6	6.7 bp −$67	14.0 bp −$1,400	91.0 bp −$45.5K

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
Kraken Futures PF_WTIOILUSD	−0.0449%	1h	92.229	−0.046%	$273K	$1.2M	25x	as long as short
GRVT CL_USDT_Perp	−0.0310%	4h	92.191	−0.087%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0268%	4h	92.235	−0.039%	$23.9M	$77.6M	20x	as long as short
Binance CLUSDT	−0.0188%	4h	92.207	−0.070%	$244.5M	$1.09B	100x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0184%	1h	92.220	−0.056%	$96K	$189K	15x	as long as short
Variational Omni CL	−0.0173%	4h	92.192	−0.086%	$13.3M	$12.7M	—	as long as short
Nado WTI-PERPlong	−0.0132%	1h	92.271	long leg	$925K	$737K	10x
Lighter WTI	−0.0072%	1h	92.201	−0.076%	$11.2M	$10.9M	20x	as long as short
QFEX CL-USD	−0.0054%	1h	92.230	−0.045%	$2.4M	$2.3M	10x	as long as short
Paradex CL-USD-PERP	−0.0049%	8h	92.208	−0.068%	$15K	$367	5x	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	−0.0046%	1h	92.228	−0.047%	$186.4M	$275.3M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0035%	1h	92.200	−0.077%	$3.5M	$6.3M	20x	as long as short
Gate CL_USDT	−0.0032%	8h	92.130	−0.153%	$21.3M	$58.0M	100x	as long as short
Pacifica CL	−0.0020%	1h	92.206	−0.070%	$333K	$576K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.274	+0.003%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.200	−0.077%	$26.0M	$94.4M	150x	as long as short
OKX CL-USDT-SWAPshort	0.0000%	4h	92.170	−0.110%	$42.9M	$112.6M	50x
RISEx CL/USDC	0.0000%	1h	92.343	+0.077%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.177	−0.102%	$42.0M	$51.6M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.250	−0.023%	$37K	$101K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.177	−0.102%	$19K	$241K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	−0.261%	$399K	$963K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.767	−0.546%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	92.255	−0.018%	$2.0M	$26.7M	10x	as long as short
edgeX CLUSDC	+0.0033%	4h	92.212	−0.064%	$530K	$326K	30x	as long as short
StandX CL-USD	+0.0040%	1h	92.210	−0.066%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.250	−0.023%	—	$308K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.199	−0.078%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.200	−0.077%	$2.0M	$39K	20x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.200	−0.077%	$7.3M	$2.2M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.250	−0.023%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.181	−0.098%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0205% / S −0.0130%	1h	92.175	−0.104%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.34	+9.824%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.200	−0.077%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0367%	1h	92.215	−0.061%	$2K	$29K	5x	as long as short