Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0217%/8h= −23.8% APRpaid last 24h −0.014%

Price spread now: Binance against tradeXYZ+0.089%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$300.298% of the position

Long on tradeXYZ Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 7 days−0.058%−$6 · spread now +0.089%, 7d avg +0.031%

Together, before fees−0.116%+ Points / potential airdroptradeXYZ: Active · farm board−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.059% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.089% now, against its 7-day average of +0.031%): +$6 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 22 hours. At the pace of the last 7 days (−0.058% in total) that is about 7.1 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.058% in total (about -3.0% a year). A funding rate is set anew for every payment. 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	tradeXYZ xyz:CL	93.668	0.0050	pay 0.0006% / 1h	57m 34s	$185.2M	$205.1M	20x
Short	Binance CLUSDT	93.752	−0.0167	pay 0.0084% / 4h	57m 34s	$247.8M	$921.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against tradeXYZ. 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 tradeXYZbpFee BinancebpOrdersPrice spread, now +0.089%Rate

Funding earned: −$45.62
Price spread: +0.089% → +0.031%: $5.86
Slippage, 4 orders: −$1.83
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Binance: 5 bp × 2 orders: −$10
Net: −$69.59
Costs to cover: 0.298%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 13 min ago; Binance: live order book, 16 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 tradeXYZ live order book, 13 min ago	0.11 bp	9.1 bp −$9	9.2 bp −$92	doesn't fit	doesn't fit
Sell Binance live order book, 16 min ago	0.54 bp	5.5 bp −$6	5.5 bp −$55	8.1 bp −$814	19.5 bp −$9,774

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	−0.0390%	1h	93.680	+0.013%	$196K	$388K	15x	as long as short
GRVT CL_USDT_Perp	−0.0308%	4h	93.381	−0.306%	$53K	$607K	25x	as long as short
Aster CLUSD1	−0.0294%	4h	93.779	+0.118%	$24.7M	$64.6M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0208%	1h	93.698	+0.032%	$276K	$966K	25x	as long as short
Binance CLUSDTshort	−0.0167%	4h	93.752	+0.089%	$247.8M	$921.9M	100x
Variational Omni CL	−0.0159%	4h	93.419	−0.266%	$13.4M	$10.7M	—	as long as short
Gate CL_USDT	−0.0127%	8h	93.600	−0.073%	$22.9M	$48.2M	100x	as long as short
Bitget CLUSDT	−0.0126%	4h	93.682	+0.015%	$42.4M	$42.1M	100x	as long as short
Aftermath Perps WTIUSD	−0.0126%	1h	93.531	−0.146%	$2K	$26K	5x	as long as short
Nado WTI-PERP	−0.0114%	1h	93.721	+0.056%	$963K	$630K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0061%	4h	93.655	−0.014%	$527K	$306K	30x	as long as short
OKX CL-USDT-SWAP	−0.0057%	4h	93.670	+0.002%	$42.8M	$103.2M	50x	as long as short
QFEX CL-USD	−0.0038%	1h	93.740	+0.077%	$2.3M	$2.4M	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	−0.137%	$405K	$862K	15x	as long as short
Lighter WTI	0.0000%	1h	93.644	−0.026%	$11.3M	$9.1M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.699	+0.034%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.700	+0.034%	$26.9M	$79.2M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.687	+0.020%	$3.0M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.440	−0.243%	$37K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.667	−0.001%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.216	−0.483%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0002%	8h	93.646	−0.023%	$16K	$367	5x	as long as short
Ondo Perps WTI-USD.P	+0.0029%	1h	93.650	−0.019%	$3.5M	$5.4M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.680	+0.013%	$1.9M	$15.0M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.730	+0.066%	$743K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.640	−0.030%	—	$313K	10x	as long as short
tradeXYZ xyz:CLlong	+0.0050%	1h	93.668	long leg	$185.2M	$205.1M	20x
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.662	−0.006%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.705	+0.040%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.667	−0.001%	$350K	$594K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.701	+0.035%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.480	−0.201%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.670	+0.002%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0179%	4h	93.630	−0.041%	$4.1M	$973K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.82	+9.770%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0251% / S −0.0186%	1h	93.685	+0.018%	$84K	—	111x	as long as short