Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0066%/8h= −7.2% APRpaid last 24h −0.003%

Price spread now: Variational Omni against tradeXYZ−0.007%7-day average −0.001% · you buy dearer than you sell

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

Long on tradeXYZ Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.027%−$3 on $10k

Price spread, last 7 days+0.008%+$1 · spread now −0.007%, 7d avg −0.001%

Together, before fees−0.019%+ Points / potential airdroptradeXYZ: Active · Variational Omni: Active · farm board−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.001%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:CL	92.894	−0.0114	get 0.0014% / 1h	8m 20s	$187.7M	$216.2M	20x
Short	Variational Omni CL	92.888	−0.0179	pay 0.0090% / 4h	8m 20s	$13.5M	$10.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.007%Rate

Funding earned: −$13.83
Price spread: −0.007% → −0.001%: −$0.52
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$32.35
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 10 min ago; Variational Omni: RFQ quote, 1 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 tradeXYZ live order book, 10 min ago	0.22 bp	9.5 bp −$10	10.1 bp −$101	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	2.27 bp	doesn't fit	2.3 bp −$23	5.9 bp −$586	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	−0.0611%	1h	92.830	−0.069%	$198K	$370K	15x	as long as short
Aster CLUSD1	−0.0273%	4h	92.909	+0.016%	$24.0M	$66.4M	20x	as long as short
GRVT CL_USDT_Perp	−0.0246%	4h	92.887	−0.007%	$64K	$648K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0196%	1h	92.895	+0.001%	$272K	$874K	25x	as long as short
Binance CLUSDT	−0.0188%	4h	92.868	−0.028%	$244.4M	$944.6M	100x	as long as short
Variational Omni CLshort	−0.0179%	4h	92.888	−0.007%	$13.5M	$10.8M	—
Bitget CLUSDT	−0.0128%	4h	92.863	−0.033%	$42.0M	$43.5M	100x	as long as short
tradeXYZ xyz:CLlong	−0.0114%	1h	92.894	long leg	$187.7M	$216.2M	20x
Aftermath Perps WTIUSD	−0.0104%	1h	92.947	+0.057%	$2K	$27K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0090%	1h	92.850	−0.047%	$3.5M	$5.4M	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	−0.0058%	4h	92.880	−0.015%	$42.5M	$102.6M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.155%	$402K	$944K	15x	as long as short
Gate CL_USDT	−0.0047%	8h	92.830	−0.069%	$20.8M	$52.2M	100x	as long as short
QFEX CL-USD	−0.0043%	1h	92.900	+0.006%	$2.3M	$1.8M	10x	as long as short
Nado WTI-PERP	−0.0032%	1h	92.944	+0.054%	$963K	$648K	10x	as long as short
KuCoin CLUSDTM	−0.0030%	4h	92.908	+0.015%	$7.1M	$2.4M	50x	as long as short
edgeX CLUSDC	−0.0003%	4h	92.895	+0.001%	$526K	$303K	30x	as long as short
Lighter WTI	0.0000%	1h	92.872	−0.024%	$11.2M	$10.6M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.937	+0.046%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.880	−0.015%	$26.7M	$80.4M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.960	+0.071%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.940	+0.050%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.892	−0.003%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.443	−0.485%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0006%	8h	92.876	−0.019%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	92.930	+0.039%	$2.0M	$20.3M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.890	−0.004%	$734K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.920	+0.028%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.901	+0.008%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.870	−0.026%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0068%	1h	92.883	−0.012%	$330K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.950	+0.060%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.857	−0.040%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0186%	4h	92.900	+0.006%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0216% / S −0.0144%	1h	92.885	−0.010%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.25	+10.073%	$19K	$11K	30x	as long as short