Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0171%/8h= +18.7% APRpaid last 24h +0.009%

Price spread now: QFEX against Variational Omni+0.015%7-day average −0.003% · you sell dearer than you buy

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

Long on Variational Omni Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.015%−$2 on $10k

Price spread, last 7 days−0.022%−$2 · spread now +0.015%, 7d avg −0.003%

Together, before fees−0.037%+ Points / potential airdropVariational Omni: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.003%, so right now this pair is about funding alone: +$5 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	92.796	−0.0203	get 0.0102% / 4h	1h 29m	$13.5M	$11.1M	—
Short	QFEX CL-USD	92.810	−0.0032	pay 0.0004% / 1h	29m 20s	$2.5M	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.015%Rate

Funding earned: $35.84
Price spread: +0.015% → −0.003%: $1.86
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee QFEX: 5 bp × 2 orders: −$10
Net: $27.69
Costs to cover: 0.100%
Break-even: 1.6 days

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; QFEX: live order book, 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 Variational Omni RFQ quote, 5 min ago	2.27 bp	doesn't fit	2.8 bp −$28	8.6 bp −$860	doesn't fit
Sell QFEX live order book, 3 min ago	1.62 bp	6.6 bp −$7	6.6 bp −$66	8.1 bp −$815	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	−0.0719%	1h	92.770	−0.028%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0250%	4h	92.845	+0.052%	$23.9M	$68.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0234%	4h	92.800	+0.004%	$61K	$625K	25x	as long as short
Binance CLUSDT	−0.0209%	4h	92.850	+0.058%	$244.9M	$954.8M	100x	as long as short
Variational Omni CLlong	−0.0203%	4h	92.796	long leg	$13.5M	$11.1M	—
Ondo Perps WTI-USD.P	−0.0168%	1h	92.780	−0.017%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0152%	1h	92.880	+0.091%	$961K	$663K	10x	as long as short
Gate CL_USDT	−0.0089%	8h	92.800	+0.004%	$20.9M	$52.5M	100x	as long as short
edgeX CLUSDC	−0.0071%	4h	92.795	−0.001%	$528K	$303K	30x	as long as short
tradeXYZ xyz:CL	−0.0066%	1h	92.844	+0.052%	$184.6M	$218.3M	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	−0.0051%	4h	92.830	+0.037%	$42.8M	$102.0M	50x	as long as short
Aftermath Perps WTIUSD	−0.0045%	1h	92.818	+0.023%	$2K	$27K	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.050%	$402K	$944K	15x	as long as short
QFEX CL-USDshort	−0.0032%	1h	92.810	+0.015%	$2.5M	$1.7M	10x
Extended WTI-USD	−0.0016%	1h	92.870	+0.080%	$2.1M	$22.7M	10x	as long as short
Lighter WTI	0.0000%	1h	92.829	+0.036%	$11.2M	$10.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.862	+0.071%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.852	+0.060%	$26.5M	$81.2M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.837	+0.044%	$41.9M	$43.3M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	−0.006%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.844	+0.052%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.414	−0.412%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0018%	8h	92.814	+0.020%	$16K	$367	5x	as long as short
KuCoin CLUSDTM	+0.0038%	4h	92.838	+0.045%	$7.3M	$2.3M	50x	as long as short
StandX CL-USD	+0.0040%	1h	92.470	−0.351%	$727K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.860	+0.069%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.842	+0.050%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.818	+0.024%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	92.949	+0.165%	$3.3M	$2.7M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.820	+0.026%	$331K	$619K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.860	+0.069%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.785	−0.012%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.842	+0.049%	$273K	$873K	25x	as long as short
BloFin CL-USDT	+0.0194%	4h	92.820	+0.026%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.845	+0.053%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.95	+9.869%	$19K	$11K	30x	as long as short