Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0230%/8h= +25.2% APRpaid last 24h +0.040%

Price spread now: Injective against Paradex+9.902%7-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 Injective

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

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Injective is 9.902% dearer against Paradex than usual: you sell high and buy low: +$990 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	Paradex CL-USD-PERP	93.330	−0.0010	get 0.0010% / 8h	2h 46m	$16K	$367	5x
Short	Injective WTI/USDC PERP	102.57	0.0220	get 0.0028% / 1h	46m 06s	$19K	$11K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +9.902%Rate

Funding earned: $48.26
Price spread: +9.902% → 0.000%: $990.19
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,034.43
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Injective: 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 Paradex no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Paradex and Injective: 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	−0.0607%	1h	93.310	−0.022%	$197K	$372K	15x	as long as short
GRVT CL_USDT_Perp	−0.0346%	4h	93.320	−0.011%	$58K	$649K	25x	as long as short
Aster CLUSD1	−0.0301%	4h	93.380	+0.053%	$24.4M	$66.5M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.352	+0.024%	$283K	$961K	25x	as long as short
Binance CLUSDT	−0.0197%	4h	93.355	+0.026%	$246.6M	$935.3M	100x	as long as short
Variational Omni CL	−0.0184%	4h	93.329	−0.002%	$13.3M	$10.9M	—	as long as short
Ondo Perps WTI-USD.P	−0.0146%	1h	93.310	−0.022%	$3.5M	$5.4M	20x	as long as short
Aftermath Perps WTIUSD	−0.0141%	1h	93.325	−0.006%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0134%	4h	93.336	+0.006%	$42.1M	$43.0M	100x	as long as short
Nado WTI-PERP	−0.0129%	1h	93.397	+0.071%	$967K	$620K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0075%	4h	93.307	−0.025%	$524K	$306K	30x	as long as short
Gate CL_USDT	−0.0073%	8h	93.300	−0.033%	$21.6M	$49.3M	100x	as long as short
tradeXYZ xyz:CL	−0.0069%	1h	93.345	+0.016%	$184.5M	$215.5M	20x	as long as short
OKX CL-USDT-SWAP	−0.0066%	4h	93.350	+0.021%	$42.6M	$102.6M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	−0.183%	$403K	$929K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.340	+0.010%	$2.3M	$2.1M	10x	as long as short
Paradex CL-USD-PERPlong	−0.0010%	8h	93.330	long leg	$16K	$367	5x
Lighter WTI	0.0000%	1h	93.350	+0.021%	$11.2M	$9.9M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.329	−0.001%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.360	+0.032%	$27.1M	$79.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.400	+0.074%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.390	+0.064%	$37K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.348	+0.018%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.891	−0.471%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	93.375	+0.048%	$2.0M	$17.9M	10x	as long as short
KuCoin CLUSDTM	+0.0036%	4h	93.362	+0.034%	$7.1M	$2.4M	50x	as long as short
StandX CL-USD	+0.0040%	1h	93.320	−0.011%	$738K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.350	+0.021%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.353	+0.024%	$332K	$576K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.338	+0.008%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.340	+0.010%	$2.1M	$60K	20x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.420	+0.096%	$54K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.323	−0.008%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0172%	4h	93.350	+0.021%	$4.0M	$984K	50x	as long as short
Injective WTI/USDC PERPshort	+0.0220%	1h	102.57	+9.902%	$19K	$11K	30x
GMX WTIOIL/USD [ETH-USDC]	L +0.0233% / S −0.0165%	1h	93.345	+0.016%	$84K	—	111x	as long as short