CL

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0578%/8h= −63.3% APRnext payment −$0.72 per $10,000 · paid last 24h −0.015%

Price spread now: Deribit against QFEX−0.011%7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$220.221% of the position

Long on QFEX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.028%+$3 on $10k

Price spread, last 4 days (all we have)−0.303%−$30 · spread now −0.011%, 7d avg +0.020%

Together, before fees−0.275%−$28 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Deribit is 0.030% cheaper against QFEX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.020%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.028% in total (about 2.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.72 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CL-USD	92.870	−0.0032	get 0.0004% / 1h	28m 20s	$2.5M	$1.7M	10x
Short	Deribit WTIOIL_USDC-PERPETUAL	92.860	−0.0611	pay 0.0076% / 1h	28m 20s	$198K	$369K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against QFEX. 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 QFEXbpFee DeribitbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$121.44
Price spread: −0.011% → +0.020%: −$3.03
Slippage, 4 orders: −$5.12
Fee QFEX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$146.59
Costs to cover: 0.221%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; Deribit: live order book, 35 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 QFEX live order book, 4 min ago	1.62 bp	7.4 bp −$7	7.7 bp −$77	9.3 bp −$933	doesn't fit
Sell Deribit live order book, 35 min ago	0.54 bp	4.0 bp −$4	7.1 bp −$71	doesn't fit	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
Deribit WTIOIL_USDC-PERPETUALshort	−0.0611%	1h	92.860	−0.011%	$198K	$369K	15x
Aster CLUSD1	−0.0249%	4h	92.888	+0.020%	$23.9M	$68.4M	20x	as long as short
GRVT CL_USDT_Perp	−0.0234%	4h	92.800	−0.075%	$61K	$625K	25x	as long as short
Binance CLUSDT	−0.0208%	4h	92.890	+0.022%	$245.0M	$954.7M	100x	as long as short
Variational Omni CL	−0.0203%	4h	92.796	−0.080%	$13.5M	$11.1M	—	as long as short
Ondo Perps WTI-USD.P	−0.0166%	1h	92.780	−0.097%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0154%	1h	92.941	+0.077%	$962K	$663K	10x	as long as short
Gate CL_USDT	−0.0087%	8h	92.830	−0.043%	$20.9M	$52.5M	100x	as long as short
edgeX CLUSDC	−0.0071%	4h	92.795	−0.081%	$528K	$303K	30x	as long as short
tradeXYZ xyz:CL	−0.0066%	1h	92.883	+0.014%	$184.6M	$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	0.000%	$42.8M	$102.0M	50x	as long as short
Aftermath Perps WTIUSD	−0.0046%	1h	92.851	−0.021%	$2K	$27K	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.129%	$402K	$944K	15x	as long as short
QFEX CL-USDlong	−0.0032%	1h	92.870	long leg	$2.5M	$1.7M	10x
Extended WTI-USD	−0.0024%	1h	92.940	+0.075%	$2.1M	$22.7M	10x	as long as short
Lighter WTI	0.0000%	1h	92.888	+0.019%	$11.2M	$10.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.862	−0.009%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.898	+0.030%	$26.5M	$81.2M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.879	+0.010%	$41.9M	$43.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	−0.086%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.884	+0.015%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.461	−0.440%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0018%	8h	92.875	+0.005%	$16K	$367	5x	as long as short
KuCoin CLUSDTM	+0.0036%	4h	92.872	+0.002%	$7.3M	$2.3M	50x	as long as short
StandX CL-USD	+0.0040%	1h	92.470	−0.431%	$727K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.890	+0.022%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.891	+0.023%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.884	+0.015%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	93.001	+0.142%	$3.3M	$2.7M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.878	+0.009%	$331K	$619K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.860	−0.011%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.853	−0.019%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.917	+0.051%	$273K	$873K	25x	as long as short
BloFin CL-USDT	+0.0192%	4h	92.810	−0.065%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.885	+0.016%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.95	+9.781%	$19K	$11K	30x	as long as short