Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0080%/8h= +8.8% APRpaid last 24h +0.006%

Price spread now: Nado against Variational Omni+0.028%7-day average +0.011% · you sell dearer than you buy

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

Long on Variational Omni Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.041%−$4 on $10k

Price spread, last 7 days−0.048%−$5 · spread now +0.028%, 7d avg +0.011%

Together, before fees−0.089%+ Points / potential airdropVariational Omni: Active · Nado: Active · farm board−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.011%, 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	Variational Omni CL	93.629	−0.0136	get 0.0068% / 4h	1h 21m	$13.5M	$10.6M	—
Short	Nado WTI-PERP	93.655	−0.0056	pay 0.0007% / 1h	21m 32s	$965K	$620K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Variational Omni. 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 Variational OmnibpFee NadobpOrdersPrice spread, now +0.028%Rate

Funding earned: $16.79
Price spread: +0.028% → +0.011%: $1.69
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $11.47
Costs to cover: 0.070%
Break-even: 2.2 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Nado: live order book, 22 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 Variational Omni RFQ quote, 3 min ago	2.26 bp	doesn't fit	2.3 bp −$23	5.4 bp −$541	doesn't fit
Sell Nado live order book, 22 min ago	0.11 bp	4.2 bp −$4	8.0 bp −$80	28.0 bp −$2,803	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	−0.0711%	1h	93.580	−0.052%	$196K	$384K	15x	as long as short
Aster CLUSD1	−0.0279%	4h	93.626	−0.003%	$24.6M	$65.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0266%	4h	93.631	+0.003%	$58K	$618K	25x	as long as short
Binance CLUSDT	−0.0150%	4h	93.596	−0.035%	$246.9M	$915.9M	100x	as long as short
Aftermath Perps WTIUSD	−0.0139%	1h	93.668	+0.042%	$2K	$26K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0137%	1h	93.632	+0.004%	$283K	$960K	25x	as long as short
Variational Omni CLlong	−0.0136%	4h	93.629	long leg	$13.5M	$10.6M	—
Ondo Perps WTI-USD.P	−0.0127%	1h	93.570	−0.063%	$3.5M	$5.3M	20x	as long as short
Gate CL_USDT	−0.0113%	8h	93.510	−0.127%	$22.5M	$49.6M	100x	as long as short
Bitget CLUSDT	−0.0108%	4h	93.561	−0.072%	$42.3M	$42.0M	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	−0.0080%	1h	93.608	−0.022%	$185.1M	$205.0M	20x	as long as short
Nado WTI-PERPshort	−0.0056%	1h	93.655	+0.028%	$965K	$620K	10x
OKX CL-USDT-SWAP	−0.0026%	4h	93.570	−0.063%	$42.9M	$101.7M	50x	as long as short
QFEX CL-USD	−0.0023%	1h	93.580	−0.052%	$2.3M	$2.4M	10x	as long as short
edgeX CLUSDC	−0.0009%	4h	93.644	+0.016%	$526K	$306K	30x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0008%	1h	93.500	−0.137%	$404K	$916K	15x	as long as short
dYdX WTI-USD	0.0000%	1h	93.649	+0.021%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.587	−0.044%	$26.8M	$79.0M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.656	+0.029%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.730	+0.108%	$37K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.624	−0.005%	$19K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.206	−0.451%	$5K	—	150x	as long as short
Lighter WTI	+0.0016%	1h	93.609	−0.021%	$11.3M	$9.6M	20x	as long as short
Paradex CL-USD-PERP	+0.0019%	8h	93.598	−0.033%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.640	+0.012%	$2.0M	$15.5M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.680	+0.055%	$742K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.610	−0.020%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.620	−0.009%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.607	−0.023%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.604	−0.026%	$333K	$574K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.628	−0.001%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.650	+0.023%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.586	−0.046%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0220%	4h	93.650	+0.023%	$4.0M	$971K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.97	+9.980%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0247% / S −0.0181%	1h	93.615	−0.015%	$84K	—	111x	as long as short