CL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0032%/8h= +3.5% APRnext payment +$0.04 per $10,000 · paid last 24h +0.010%

Price spread now: Extended against Phoenix−0.076%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$260.262% of the position

Long on Phoenix Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 3 days (all we have)+0.018%+$2 · spread now −0.076%, 7d avg −0.042%

Together, before fees+0.036%+ Points / potential airdropExtended: Active · farm board+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.034% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.076% now, against its 7-day average of −0.042%). If the spread goes back, that is −$3 on $10k: about 3.6 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.019% in total) that is about 13 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix WTIOIL	92.260	0	get 0.0000% / 1h	51m 26s	$37K	$66K	20x
Short	Extended WTI-USD	92.190	0.0032	get 0.0004% / 1h	51m 26s	$2.0M	$26.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Phoenix. 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 PhoenixbpFee ExtendedbpOrdersPrice spread, now −0.076%Rate

Funding earned: $6.72
Price spread: −0.076% → −0.042%: −$3.41
Slippage, 4 orders: −$14.23
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$22.93
Costs to cover: 0.262%
Break-even: 30.9 days

Slippage from Phoenix: live order book, 61 min ago; Extended: live order book, 3 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 Phoenix live order book, 61 min ago	2.17 bp	8.9 bp −$9	17.6 bp −$176	doesn't fit	doesn't fit
Sell Extended live order book, 3 min ago	0.27 bp	4.6 bp −$5	7.9 bp −$79	27.3 bp −$2,731	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
GRVT CL_USDT_Perp	−0.0536%	4h	92.166	−0.102%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0315%	4h	92.149	−0.120%	$23.8M	$79.2M	20x	as long as short
Gate CL_USDT	−0.0268%	8h	92.050	−0.228%	$21.3M	$54.3M	100x	as long as short
Binance CLUSDT	−0.0245%	4h	92.130	−0.141%	$245.0M	$1.09B	100x	as long as short
Variational Omni CL	−0.0236%	4h	92.101	−0.173%	$13.2M	$12.7M	—	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0184%	1h	92.210	−0.054%	$96K	$189K	15x	as long as short
Bybit CLUSDT	−0.0157%	8h	92.123	−0.148%	$26.0M	$93.8M	150x	as long as short
Nado WTI-PERP	−0.0127%	1h	92.201	−0.064%	$923K	$732K	10x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.220	−0.043%	$273K	$1.2M	25x	as long as short
Ondo Perps WTI-USD.P	−0.0091%	1h	92.180	−0.087%	$3.5M	$6.2M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0066%	1h	92.151	−0.118%	$186.1M	$261.6M	20x	as long as short
Lighter WTI	−0.0048%	1h	92.146	−0.124%	$11.2M	$9.9M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.249%	$399K	$961K	15x	as long as short
QFEX CL-USD	−0.0040%	1h	92.150	−0.119%	$2.4M	$2.2M	10x	as long as short
Paradex CL-USD-PERP	−0.0033%	8h	92.136	−0.134%	$15K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	92.235	−0.027%	$8K	$3K	5x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.110	−0.163%	$42.9M	$111.2M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.264	+0.004%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.115	−0.157%	$41.9M	$51.4M	100x	as long as short
Phoenix WTIOILlong	0.0000%	1h	92.260	long leg	$37K	$66K	20x
Bullet WTIOIL-USD	0.0000%	1h	92.118	−0.154%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.707	−0.599%	$5K	—	150x	as long as short
Extended WTI-USDshort	+0.0032%	1h	92.190	−0.076%	$2.0M	$26.7M	10x
edgeX CLUSDC	+0.0036%	4h	92.162	−0.106%	$530K	$306K	30x	as long as short
StandX CL-USD	+0.0040%	1h	92.190	−0.076%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.200	−0.065%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.151	−0.118%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.180	−0.087%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.146	−0.123%	$353K	$596K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.182	−0.085%	$7.2M	$2.3M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.240	−0.022%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.143	−0.127%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.125	−0.146%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.38	+9.887%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.120	−0.152%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0435%	1h	92.171	−0.096%	$2K	$29K	5x	as long as short