Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.017%

Price spread now: RISEx against Phoenix+0.185%50s7-day average +0.013% · you sell dearer than you buy

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

Long on Phoenix Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.062%+$6 on $10k

Price spread, last 3 days (all we have)−0.226%−$23 · spread now +0.185%, 7d avg +0.013%

Together, before fees−0.164%−$16 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: RISEx is 0.171% dearer against Phoenix than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of +0.013%. The two prices were read 50 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	92.600	0	get 0.0000% / 1h	21m 39s	$37K	$66K	20x
Short	RISEx CL/USDC	92.771	0	get 0.0000% / 1h	21m 39s	$3.3M	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.185%Rate

Funding earned: $0
Price spread: +0.185% → +0.013%: $17.11
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee RISEx: 3 bp × 2 orders: −$6
Net: $4.11
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Phoenix: no order-book sample; RISEx: live order book, 2 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 RISEx live order book, 2 min ago	0.43 bp	3.4 bp −$3	5.1 bp −$51	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
GRVT CL_USDT_Perp	−0.0346%	4h	92.524	−0.082%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0334%	4h	92.655	+0.060%	$24.0M	$78.0M	20x	as long as short
Binance CLUSDT	−0.0274%	4h	92.639	+0.043%	$245.4M	$1.06B	100x	as long as short
Variational Omni CL	−0.0265%	4h	92.480	−0.130%	$13.1M	$12.2M	—	as long as short
Gate CL_USDT	−0.0214%	8h	92.580	−0.022%	$21.3M	$55.2M	100x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0181%	1h	92.680	+0.086%	$123K	$275K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.699	+0.106%	$275K	$1.1M	25x	as long as short
Nado WTI-PERP	−0.0063%	1h	92.708	+0.116%	$934K	$731K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0046%	1h	92.630	+0.032%	$3.6M	$6.1M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.616%	$399K	$959K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0040%	1h	92.640	+0.043%	$2.4M	$2.1M	10x	as long as short
tradeXYZ xyz:CL	−0.0026%	1h	92.635	+0.038%	$186.5M	$236.4M	20x	as long as short
Paradex CL-USD-PERP	−0.0002%	8h	92.618	+0.020%	$15K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	92.657	+0.061%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.657	+0.062%	$26.5M	$92.1M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.610	+0.011%	$43.0M	$111.1M	50x	as long as short
RISEx CL/USDCshort	0.0000%	1h	92.771	+0.185%	$3.3M	$2.8M	20x
Bitget CLUSDT	0.0000%	4h	92.626	+0.028%	$42.2M	$50.6M	100x	as long as short
Phoenix WTIOILlong	0.0000%	1h	92.600	long leg	$37K	$66K	20x
Bullet WTIOIL-USD	0.0000%	1h	92.679	+0.085%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.241	−0.388%	$5K	—	150x	as long as short
Lighter WTI	+0.0024%	1h	92.630	+0.032%	$11.2M	$10.2M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.690	+0.097%	$2.3M	$26.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.370	−0.248%	$722K	$3.1M	40x	as long as short
edgeX CLUSDC	+0.0041%	4h	92.545	−0.060%	$532K	$299K	30x	as long as short
Vest CL-PERP	+0.0046%	1h	92.680	+0.086%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.690	+0.097%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.670	+0.076%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.648	+0.052%	$356K	$603K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.659	+0.064%	$7.2M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.560	−0.043%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.635	+0.038%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.675	+0.081%	$78K	—	111x	as long as short
Aftermath Perps WTIUSD	+0.0212%	1h	92.563	−0.040%	$2K	$28K	5x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.56	+9.672%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.510	−0.097%	$4.0M	$1.4M	50x	as long as short