Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0130%/8h= −14.3% APRpaid last 24h −0.017%

Price spread now: Variational Omni against QFEX−0.140%7-day average +0.002% · you buy dearer than you sell

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

Long on QFEX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.008%+$1 on $10k

Price spread, last 7 days+0.142%+$14 · spread now −0.140%, 7d avg +0.002%

Together, before fees+0.149%+ Points / potential airdropVariational Omni: Active · farm board+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Variational Omni is 0.143% cheaper against QFEX than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.002%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CL-USD	93.480	−0.0032	get 0.0004% / 1h	1m 22s	$2.3M	$2.5M	10x
Short	Variational Omni CL	93.349	−0.0163	pay 0.0081% / 4h	2h 01m	$13.4M	$10.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.140%Rate

Funding earned: −$27.36
Price spread: −0.140% → +0.002%: −$14.28
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$51.63
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 6 min ago; Variational Omni: RFQ quote, 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 QFEX live order book, 6 min ago	2.14 bp	7.9 bp −$8	8.2 bp −$82	9.7 bp −$971	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.26 bp	doesn't fit	2.3 bp −$23	5.7 bp −$572	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-PERPETUAL	−0.0285%	1h	93.400	−0.086%	$196K	$377K	15x	as long as short
GRVT CL_USDT_Perp	−0.0274%	4h	93.348	−0.141%	$58K	$629K	25x	as long as short
Aster CLUSD1	−0.0274%	4h	93.540	+0.064%	$24.4M	$64.5M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.432	−0.052%	$285K	$959K	25x	as long as short
Binance CLUSDT	−0.0166%	4h	93.523	+0.046%	$246.3M	$930.6M	100x	as long as short
Variational Omni CLshort	−0.0163%	4h	93.349	−0.140%	$13.4M	$10.9M	—
Aftermath Perps WTIUSD	−0.0148%	1h	93.441	−0.041%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0120%	4h	93.479	−0.001%	$42.2M	$42.7M	100x	as long as short
Nado WTI-PERP	−0.0101%	1h	93.519	+0.042%	$972K	$628K	10x	as long as short
Gate CL_USDT	−0.0083%	8h	93.430	−0.053%	$22.1M	$50.5M	100x	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	−0.0076%	1h	93.501	+0.022%	$185.0M	$212.3M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0074%	1h	93.440	−0.043%	$3.5M	$5.4M	20x	as long as short
edgeX CLUSDC	−0.0060%	4h	93.379	−0.108%	$525K	$306K	30x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.500	+0.021%	$404K	$931K	15x	as long as short
OKX CL-USDT-SWAP	−0.0034%	4h	93.490	+0.011%	$42.7M	$102.0M	50x	as long as short
QFEX CL-USDlong	−0.0032%	1h	93.480	long leg	$2.3M	$2.5M	10x
dYdX WTI-USD	0.0000%	1h	93.500	+0.022%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.518	+0.041%	$27.0M	$79.4M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.525	+0.048%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.480	0.000%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.497	+0.018%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.058	−0.451%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0022%	8h	93.454	−0.028%	$16K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	93.472	−0.009%	$11.3M	$10.0M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.490	+0.011%	$2.0M	$16.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.450	−0.032%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.470	−0.011%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.476	−0.004%	$332K	$577K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.472	−0.009%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.413	−0.072%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.499	+0.020%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.440	−0.043%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.469	−0.012%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0203%	4h	93.350	−0.139%	$4.0M	$988K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.64	+9.804%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0241% / S −0.0175%	1h	93.515	+0.037%	$84K	—	111x	as long as short