Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0226%/8h= −24.7% APRpaid last 24h −0.020%

Price spread now: Binance against Paradex+0.025%48s7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Binance

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

The price spread pays, funding is against you. Binance is 0.025% dearer against Paradex than usual: you sell high and buy low (spread +0.025% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 9 hours. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CL-USD-PERP	92.875	0.0018	pay 0.0018% / 8h	5h 27m	$16K	$367	5x
Short	Binance CLUSDT	92.898	−0.0208	pay 0.0104% / 4h	1h 27m	$245.0M	$954.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Paradex. 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 ParadexbpFee BinancebpOrdersPrice spread, now +0.025%Rate

Funding earned: −$47.41
Price spread: +0.025% → 0.000%: $2.54
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Binance: 5 bp × 2 orders: −$10
Net: −$58.87
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Binance: live order book, 16 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell Binance live order book, 16 min ago	0.54 bp	5.5 bp −$6	5.8 bp −$58	9.3 bp −$932	25.0 bp −$12.5K

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	−0.0611%	1h	92.860	−0.016%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0249%	4h	92.890	+0.017%	$23.9M	$68.4M	20x	as long as short
GRVT CL_USDT_Perp	−0.0234%	4h	92.800	−0.080%	$61K	$625K	25x	as long as short
Binance CLUSDTshort	−0.0208%	4h	92.898	+0.025%	$245.0M	$954.7M	100x
Variational Omni CL	−0.0203%	4h	92.796	−0.085%	$13.5M	$11.1M	—	as long as short
Ondo Perps WTI-USD.P	−0.0166%	1h	92.780	−0.102%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0154%	1h	92.941	+0.072%	$962K	$663K	10x	as long as short
Gate CL_USDT	−0.0087%	8h	92.840	−0.037%	$20.9M	$52.5M	100x	as long as short
edgeX CLUSDC	−0.0071%	4h	92.795	−0.086%	$528K	$303K	30x	as long as short
tradeXYZ xyz:CL	−0.0066%	1h	92.910	+0.038%	$184.7M	$218.3M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAP	−0.0052%	4h	92.870	−0.005%	$42.8M	$102.1M	50x	as long as short
Aftermath Perps WTIUSD	−0.0046%	1h	92.851	−0.026%	$2K	$27K	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.134%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	92.870	−0.005%	$2.5M	$1.7M	10x	as long as short
Extended WTI-USD	−0.0024%	1h	92.940	+0.070%	$2.1M	$22.7M	10x	as long as short
Lighter WTI	0.0000%	1h	92.899	+0.026%	$11.2M	$10.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.862	−0.014%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.913	+0.041%	$26.5M	$81.1M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.893	+0.020%	$42.0M	$43.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	−0.091%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.884	+0.010%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.461	−0.445%	$5K	—	150x	as long as short
Paradex CL-USD-PERPlong	+0.0018%	8h	92.875	long leg	$16K	$367	5x
KuCoin CLUSDTM	+0.0036%	4h	92.892	+0.019%	$7.3M	$2.3M	50x	as long as short
StandX CL-USD	+0.0040%	1h	92.470	−0.436%	$727K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.890	+0.017%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.891	+0.018%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.884	+0.010%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	93.001	+0.137%	$3.3M	$2.7M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.878	+0.004%	$331K	$619K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.860	−0.016%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.853	−0.024%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.917	+0.046%	$273K	$873K	25x	as long as short
BloFin CL-USDT	+0.0192%	4h	92.810	−0.070%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.885	+0.011%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.95	+9.776%	$19K	$11K	30x	as long as short