Funding you earn now, next payment 07:00 UTC−0.0394%/8h= −43.1% APRnext payment −$0.49 per $10,000 · paid last 24h −0.053%
Price spread now: Deribit against Phoenix−0.150%70s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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—needs both histories
Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Deribit is 0.150% cheaper against Phoenix than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 70 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 | Phoenix WTIOIL | 93.290 | 0 | get 0.0000% / 1h | 35m 38s | $37K | $40K | 20x |
| Short | Deribit WTIOIL_USDC-PERPETUAL | 93.150 | −0.0394 | pay 0.0049% / 1h | 35m 38s | $195K | $394K | 15x |
Phoenix WTIOIL
Deribit WTIOIL_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$82.68
- Price spread: −0.150% → 0.000%
- −$15.01
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$111.69
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Deribit: live order book, 3 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Deribit live order book, 3 min ago | 0.54 bp | 4.0 bp −$4 | 7.8 bp −$78 | doesn't fit | doesn't fit |
Phoenix: 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-PERPETUALshort | −0.0394% | 1h | 93.150 | −0.150% | $195K | $394K | 15x | |
| Aster CLUSD1 | −0.0287% | 4h | 93.138 | −0.163% | $24.7M | $64.6M | 20x | as long as short |
| GRVT CL_USDT_Perp | −0.0272% | 4h | 93.210 | −0.086% | $75K | $636K | 25x | as long as short |
| Kraken Futures PF_WTIOILUSD | −0.0210% | 1h | 93.169 | −0.129% | $275K | $938K | 25x | as long as short |
| Binance CLUSDT | −0.0160% | 4h | 93.122 | −0.180% | $247.3M | $920.4M | 100x | as long as short |
| Variational Omni CL | −0.0143% | 4h | 93.137 | −0.164% | $13.4M | $10.6M | — | as long as short |
| Gate CL_USDT | −0.0128% | 8h | 93.050 | −0.257% | $22.9M | $49.1M | 100x | as long as short |
| Bitget CLUSDT | −0.0124% | 4h | 93.100 | −0.204% | $42.3M | $41.7M | 100x | as long as short |
| Aftermath Perps WTIUSD | −0.0112% | 1h | 93.237 | −0.057% | $2K | $26K | 5x | as long as short |
| edgeX CLUSDC | −0.0095% | 4h | 93.207 | −0.089% | $524K | $305K | 30x | as long as short |
Aster CLUSD1
GRVT CL_USDT_Perp
Kraken Futures PF_WTIOILUSD
Binance CLUSDT
Variational Omni CL
Gate CL_USDT
Bitget CLUSDT
Aftermath Perps WTIUSD
edgeX CLUSDCShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado WTI-PERP | −0.0091% | 1h | 93.219 | −0.076% | $955K | $623K | 10x | as long as short |
| OKX CL-USDT-SWAP | −0.0071% | 4h | 93.080 | −0.225% | $42.7M | $102.6M | 50x | as long as short |
| QFEX CL-USD | −0.0038% | 1h | 93.170 | −0.129% | $2.3M | $2.4M | 10x | as long as short |
| tradeXYZ xyz:CL | −0.0033% | 1h | 93.113 | −0.190% | $183.9M | $199.5M | 20x | as long as short |
| Ondo Perps WTI-USD.P | −0.0018% | 1h | 93.060 | −0.247% | $3.6M | $5.3M | 20x | as long as short |
| Lighter WTI | −0.0016% | 1h | 93.103 | −0.200% | $11.2M | $9.2M | 20x | as long as short |
| Coinbase International WTIOIL-PERP-INTX | −0.0016% | 1h | 93.540 | +0.268% | $405K | $810K | 15x | as long as short |
| Paradex CL-USD-PERP | −0.0003% | 8h | 93.088 | −0.216% | $16K | $367 | 5x | as long as short |
| dYdX WTI-USD | 0.0000% | 1h | 93.162 | −0.137% | $8K | $3K | 5x | as long as short |
| Bybit CLUSDT | 0.0000% | 8h | 93.116 | −0.187% | $26.7M | $79.1M | 150x | as long as short |
| RISEx CL/USDC | 0.0000% | 1h | 93.153 | −0.146% | $3.0M | $2.9M | 20x | as long as short |
| Phoenix WTIOILlong | 0.0000% | 1h | 93.290 | long leg | $37K | $40K | 20x | |
| Bullet WTIOIL-USD | 0.0000% | 1h | 93.156 | −0.144% | $18K | $240K | 10x | as long as short |
| gTrade (Gains Network) WTI/USD | L 0.0000% / S +0.0036% | 1h | 92.701 | −0.631% | $5K | — | 150x | as long as short |
| Extended WTI-USD | +0.0016% | 1h | 93.160 | −0.139% | $1.6M | $14.9M | 10x | as long as short |
| StandX CL-USD | +0.0040% | 1h | 93.220 | −0.075% | $739K | $2.8M | 40x | as long as short |
| Vest CL-PERP | +0.0046% | 1h | 93.170 | −0.129% | — | $313K | 10x | as long as short |
| Polymarket Perps WTIOIL-USD | +0.0050% | 1h | 93.156 | −0.144% | $1.7M | $1.3M | 20x | as long as short |
| SoDEX CL-USD | +0.0050% | 1h | 93.162 | −0.137% | $2.1M | $60K | 20x | as long as short |
| Pacifica CL | +0.0100% | 1h | 93.107 | −0.197% | $347K | $593K | 10x | as long as short |
| KuCoin CLUSDTM | +0.0100% | 4h | 93.143 | −0.158% | $7.1M | $2.4M | 50x | as long as short |
| ApeX Omni CLUSDT | +0.0100% | 1h | 93.200 | −0.096% | $54K | $266K | 50x | as long as short |
| Aevo WTIOIL-PERP | +0.0104% | 1h | 93.132 | −0.169% | $4K | — | 10x | as long as short |
| BloFin CL-USDT | +0.0173% | 4h | 93.180 | −0.118% | $4.0M | $983K | 50x | as long as short |
| Injective WTI/USDC PERP | +0.0220% | 1h | 102.45 | +9.819% | $19K | $11K | 30x | as long as short |
| GMX WTIOIL/USD [ETH-USDC] | L +0.0255% / S −0.0190% | 1h | 93.155 | −0.145% | $83K | — | 111x | as long as short |
Nado WTI-PERP
OKX CL-USDT-SWAP
QFEX CL-USD
tradeXYZ xyz:CL
Ondo Perps WTI-USD.P
Lighter WTI
Coinbase International WTIOIL-PERP-INTX
Paradex CL-USD-PERP
dYdX WTI-USD
Bybit CLUSDT
RISEx CL/USDC
Bullet WTIOIL-USD
gTrade (Gains Network) WTI/USD
Extended WTI-USD
StandX CL-USD
Vest CL-PERP
Polymarket Perps WTIOIL-USD
SoDEX CL-USD
Pacifica CL
KuCoin CLUSDTM
ApeX Omni CLUSDT
Aevo WTIOIL-PERP
BloFin CL-USDT
Injective WTI/USDC PERP
GMX WTIOIL/USD [ETH-USDC]