Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0081%/8hpaid last 24h −0.017%

Price spread now: Nado against OKX+0.091%7-day average −0.023% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$210.207% of the position

Long on OKX Short on Nado

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−0.206%−$21 · spread now +0.091%, 7d avg −0.023%

Together, before fees−0.242%+ Points / potential airdropNado: Active · farm board−$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.114% dearer against OKX than usual: you sell high and buy low (spread +0.091% now, against its 7-day average of −0.023%): +$11 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.7 days. At the pace of the last 3 days (−0.037% in total) that is about 9.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CL-USDT-SWAP	91.980	0	get 0.0000% / 4h	21m 26s	$43.1M	$112.4M	50x
Short	Nado WTI-PERP	92.064	−0.0081	pay 0.0010% / 1h	21m 26s	$843K	$753K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against OKX. 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 OKXbpFee NadobpOrdersPrice spread, now +0.091%Rate

Funding earned: −$17.02
Price spread: +0.091% → −0.023%: $11.38
Slippage, 4 orders: −$3.65
Fee OKX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$26.29
Costs to cover: 0.207%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Nado: live order book, 11 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 OKX live order book, 2 min ago	0.54 bp	5.5 bp −$6	6.2 bp −$62	11.3 bp −$1,134	doesn't fit
Sell Nado live order book, 11 min ago	0.11 bp	5.4 bp −$5	13.0 bp −$130	28.9 bp −$2,894	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
Ondo Perps WTI-USD.P	−0.0102%	1h	91.980	0.000%	$3.5M	$6.3M	20x	as long as short
Binance CLUSDT	−0.0099%	4h	91.990	+0.011%	$244.7M	$1.05B	100x	as long as short
Aster CLUSD1	−0.0098%	4h	91.994	+0.015%	$24.8M	$70.7M	20x	as long as short
Nado WTI-PERPshort	−0.0081%	1h	92.064	+0.091%	$843K	$753K	10x
Variational Omni CL	−0.0079%	4h	91.945	−0.039%	$13.4M	$16.7M	—	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0076%	1h	92.050	+0.076%	$96K	$470K	15x	as long as short
Aftermath Perps WTIUSD	−0.0075%	1h	92.079	+0.107%	$2K	$33K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0059%	1h	92.076	+0.104%	$267K	$1.3M	25x	as long as short
Lighter WTI	−0.0040%	1h	91.999	+0.021%	$11.1M	$12.5M	20x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0038% / S +0.0036%	1h	91.725	−0.277%	$178K	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT CL_USDT_Perp	−0.0024%	4h	92.060	+0.087%	$58K	$812K	25x	as long as short
QFEX CL-USD	−0.0022%	1h	91.970	−0.011%	$2.4M	$2.8M	10x	as long as short
tradeXYZ xyz:CL	−0.0019%	1h	92.008	+0.030%	$183.3M	$287.1M	20x	as long as short
Bullet WTIOIL-USD	−0.0016%	1h	91.985	+0.006%	$19K	$246K	10x	as long as short
Gate CL_USDT	−0.0008%	8h	91.940	−0.043%	$21.1M	$61.6M	100x	as long as short
dYdX WTI-USD	0.0000%	1h	92.035	+0.059%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	91.989	+0.010%	$24.6M	$95.4M	150x	as long as short
OKX CL-USDT-SWAPlong	0.0000%	4h	91.980	long leg	$43.1M	$112.4M	50x
RISEx CL/USDC	0.0000%	1h	92.091	+0.121%	$3.1M	$2.6M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	91.971	−0.010%	$42.4M	$63.6M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.070	+0.098%	$396K	$1.1M	15x	as long as short
edgeX CLUSDC	+0.0002%	4h	92.028	+0.052%	$529K	$352K	30x	as long as short
Paradex CL-USD-PERP	+0.0010%	8h	91.991	+0.012%	$15K	$367	5x	as long as short
Phoenix WTIOIL	+0.0026%	1h	92.020	+0.043%	$33K	$99K	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.050	+0.076%	$1.9M	$29.3M	10x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	92.595	+0.669%	$18K	$14K	30x	as long as short
StandX CL-USD	+0.0040%	1h	92.080	+0.109%	$726K	$2.6M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.090	+0.120%	—	$243K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.024	+0.048%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.015	+0.038%	$2.0M	$45K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.013	+0.036%	$315K	$542K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.038	+0.063%	$7.4M	$1.2M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.000	+0.022%	$55K	$272K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.006	+0.028%	$4K	$49	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0127% / S +0.0033%	1h	91.985	+0.005%	$79K	—	111x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.030	+0.054%	$4.1M	$1.5M	50x	as long as short