Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0095%/8h= +10.5% APRpaid last 24h +0.012%

Price spread now: Paradex against Ondo Perps+0.032%7-day average — · you sell dearer than you buy

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

Long on Ondo Perps 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 airdropOndo Perps: Active · Paradex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Paradex is 0.032% dearer against Ondo Perps than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps WTI-USD.P	90.630	−0.0080	get 0.0010% / 1h	11m 45s	$3.5M	$5.7M	20x
Short	Paradex CL-USD-PERP	90.659	0.0015	get 0.0015% / 8h	6h 11m	$15K	$367	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Ondo Perps. 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 Ondo PerpsbpFee ParadexbpOrdersPrice spread, now +0.032%Rate

Funding earned: $20.04
Price spread: +0.032% → 0.000%: $3.22
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Paradex: 2 bp × 2 orders: −$4
Net: $14.27
Costs to cover: 0.090%
Break-even: 2.0 days

Slippage unknown: Ondo Perps: 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Ondo Perps 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 exchanges

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	−0.0523%	1h	90.480	−0.166%	$181K	$423K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0365%	1h	90.592	−0.042%	$306K	$1.3M	25x	as long as short
Aster CLUSD1	−0.0164%	4h	90.510	−0.132%	$24.5M	$66.4M	20x	as long as short
Binance CLUSDT	−0.0110%	4h	90.470	−0.177%	$245.2M	$1.10B	100x	as long as short
Bitget CLUSDT	−0.0110%	4h	90.466	−0.181%	$41.3M	$49.2M	100x	as long as short
Extended WTI-USD	−0.0096%	1h	90.520	−0.121%	$1.4M	$13.5M	10x	as long as short
Variational Omni CL	−0.0084%	4h	90.686	+0.061%	$12.9M	$11.0M	—	as long as short
Nado WTI-PERP	−0.0083%	1h	90.624	−0.007%	$912K	$652K	10x	as long as short
Ondo Perps WTI-USD.Plong	−0.0080%	1h	90.630	long leg	$3.5M	$5.7M	20x
Gate CL_USDT	−0.0066%	8h	90.470	−0.177%	$23.3M	$54.1M	100x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0059%	4h	90.686	+0.062%	$507K	$380K	30x	as long as short
tradeXYZ xyz:CL	−0.0059%	1h	90.477	−0.169%	$175.6M	$210.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0042%	4h	90.832	+0.223%	$70K	$615K	25x	as long as short
Aftermath Perps WTIUSD	−0.0034%	1h	90.832	+0.223%	$1K	$27K	5x	as long as short
OKX CL-USDT-SWAP	−0.0024%	4h	90.460	−0.188%	$41.0M	$117.7M	50x	as long as short
QFEX CL-USD	−0.0023%	1h	90.660	+0.033%	$2.2M	$2.8M	10x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	90.120	−0.563%	$1K	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	90.505	−0.138%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	90.470	−0.177%	$26.8M	$96.4M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	90.670	+0.044%	$2.9M	$3.0M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	90.606	−0.026%	$17K	$237K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0008%	1h	90.610	−0.022%	$440K	$1.2M	15x	as long as short
Paradex CL-USD-PERPshort	+0.0015%	8h	90.659	+0.032%	$15K	$367	5x
Lighter WTI	+0.0024%	1h	90.475	−0.171%	$11.0M	$9.6M	20x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	100.27	+10.634%	$19K	$5K	30x	as long as short
StandX CL-USD	+0.0040%	1h	90.830	+0.221%	$707K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	90.660	+0.033%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	90.649	+0.021%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	90.534	−0.106%	$2.0M	$81K	20x	as long as short
Phoenix WTIOIL	+0.0053%	1h	90.890	+0.287%	$36K	$37K	20x	as long as short
Pacifica CL	+0.0100%	1h	90.693	+0.070%	$313K	$709K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	90.510	−0.132%	$6.8M	$2.8M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	90.830	+0.221%	$53K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	90.532	−0.108%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0215%	4h	90.740	+0.121%	$3.9M	$1.0M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0250% / S −0.0172%	1h	90.675	+0.050%	$81K	—	111x	as long as short