Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0075%/8h= +8.2% APRpaid last 24h +0.007%

Price spread now: edgeX against tradeXYZ−0.010%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$480.485% of the position

Long on tradeXYZ Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.186%−$19 on $10k

Price spread, last 4 days (all we have)−0.002%$0 · spread now −0.010%, 7d avg −0.015%

Together, before fees−0.189%+ Points / potential airdroptradeXYZ: Active · edgeX: Active · farm board−$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.015%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.186%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:CL	89.621	−0.0086	get 0.0011% / 1h	42m 49s	$166.8M	$247.0M	20x
Short	edgeX CLUSDC	89.612	−0.0011	pay 0.0006% / 4h	1h 42m	$495K	$385K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.010%Rate

Funding earned: $15.71
Price spread: −0.010% → −0.015%: $0.58
Slippage, 4 orders: −$21.47
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$32.19
Costs to cover: 0.485%
Break-even: 21.3 days

Slippage from tradeXYZ: live order book, 10 min ago; edgeX: live order book, 4 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, 10 min ago	0.22 bp	9.2 bp −$9	9.2 bp −$92	10.3 bp −$1,025	doesn't fit
Sell edgeX live order book, 4 min ago	10.51 bp	15.0 bp −$15	15.8 bp −$158	27.6 bp −$2,756	doesn't fit

CL on 36 exchanges

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
Kraken Futures PF_WTIOILUSD	−0.0341%	1h	89.595	−0.028%	$319K	$1.8M	25x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0196%	1h	89.590	−0.035%	$39K	$654K	15x	as long as short
Aster CLUSD1	−0.0124%	4h	89.640	+0.021%	$24.3M	$72.3M	20x	as long as short
Bitget CLUSDT	−0.0108%	4h	89.580	−0.046%	$40.9M	$56.7M	100x	as long as short
GRVT CL_USDT_Perp	−0.0106%	4h	89.325	−0.330%	$66K	$632K	25x	as long as short
Ondo Perps WTI-USD.P	−0.0096%	1h	89.520	−0.113%	$3.4M	$6.3M	20x	as long as short
tradeXYZ xyz:CLlong	−0.0086%	1h	89.621	long leg	$166.8M	$247.0M	20x
Binance CLUSDT	−0.0080%	4h	89.590	−0.035%	$241.4M	$1.21B	100x	as long as short
Aftermath Perps WTIUSD	−0.0071%	1h	89.565	−0.062%	$1K	$26K	5x	as long as short
Variational Omni CL	−0.0056%	4h	89.472	−0.166%	$12.5M	$11.4M	—	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0055%	8h	89.540	−0.090%	$23.1M	$54.2M	100x	as long as short
Extended WTI-USD	−0.0048%	1h	89.620	−0.001%	$1.3M	$14.3M	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	89.700	+0.088%	$410K	$1.5M	15x	as long as short
Nado WTI-PERP	−0.0029%	1h	89.630	+0.010%	$874K	$688K	10x	as long as short
QFEX CL-USD	−0.0025%	1h	89.590	−0.035%	$2.2M	$2.6M	10x	as long as short
OKX CL-USDT-SWAP	−0.0024%	4h	89.600	−0.023%	$40.1M	$133.2M	50x	as long as short
edgeX CLUSDCshort	−0.0011%	4h	89.612	−0.010%	$495K	$385K	30x
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	89.246	−0.418%	$607	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	89.622	+0.001%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	89.600	−0.023%	$27.4M	$109.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	89.671	+0.056%	$2.8M	$3.1M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	89.470	−0.168%	$32K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	89.602	−0.021%	$17K	$237K	10x	as long as short
Paradex CL-USD-PERP	+0.0015%	8h	89.552	−0.077%	$15K	$458	5x	as long as short
Lighter WTI	+0.0032%	1h	89.608	−0.015%	$10.7M	$10.6M	20x	as long as short
StandX CL-USD	+0.0040%	1h	89.700	+0.088%	$692K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	89.600	−0.023%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	89.567	−0.060%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	89.630	+0.010%	$2.0M	$84K	20x	as long as short
Pacifica CL	+0.0100%	1h	89.586	−0.039%	$300K	$737K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	89.593	−0.031%	$6.9M	$3.0M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	89.710	+0.099%	$52K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	89.582	−0.043%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0165% / S −0.0004%	1h	89.605	−0.018%	$77K	—	111x	as long as short
BloFin CL-USDT	+0.0215%	4h	89.700	+0.088%	$3.9M	$1.1M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	90.137	+0.576%	$16K	$5K	30x	as long as short