Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.032%

Price spread now: Bitget against ApeX Omni−0.064%83s7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$550.548% of the position

Long on ApeX Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.354%−$35 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now −0.064%, 7d avg −0.005%

Together, before fees−0.327%−$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bitget is 0.058% cheaper against ApeX Omni than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.005%). Swap the legs. The two prices were read 83 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni CLUSDT	92.800	0.0100	pay 0.0013% / 1h	38m 13s	$56K	$265K	50x
Short	Bitget CLUSDT	92.741	0	get 0.0000% / 4h	1h 38m	$41.9M	$43.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against ApeX 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 ApeX OmnibpFee BitgetbpOrdersPrice spread, now −0.064%Rate

Funding earned: −$21
Price spread: −0.064% → −0.005%: −$5.81
Slippage, 4 orders: −$32.8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$81.61
Costs to cover: 0.548%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 24 min ago; Bitget: live order book, 1 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 ApeX Omni live order book, 24 min ago	8.62 bp	21.0 bp −$21	195.1 bp −$1,951	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	0.05 bp	6.2 bp −$6	8.4 bp −$84	doesn't fit	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	−0.0612%	1h	92.730	−0.075%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0244%	4h	92.761	−0.042%	$23.9M	$69.1M	20x	as long as short
GRVT CL_USDT_Perp	−0.0220%	4h	92.820	+0.022%	$61K	$633K	25x	as long as short
Binance CLUSDT	−0.0209%	4h	92.750	−0.054%	$244.1M	$955.9M	100x	as long as short
Variational Omni CL	−0.0203%	4h	92.777	−0.025%	$13.6M	$11.1M	—	as long as short
Ondo Perps WTI-USD.P	−0.0163%	1h	92.690	−0.119%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0141%	1h	92.819	+0.020%	$960K	$664K	10x	as long as short
Gate CL_USDT	−0.0093%	8h	92.690	−0.119%	$20.9M	$52.4M	100x	as long as short
tradeXYZ xyz:CL	−0.0068%	1h	92.767	−0.036%	$184.4M	$218.0M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.054%	$402K	$944K	15x	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	−0.0034%	4h	92.730	−0.075%	$42.7M	$102.0M	50x	as long as short
QFEX CL-USD	−0.0032%	1h	92.740	−0.065%	$2.5M	$1.7M	10x	as long as short
Aftermath Perps WTIUSD	−0.0026%	1h	92.819	+0.021%	$2K	$27K	5x	as long as short
edgeX CLUSDC	−0.0011%	4h	92.800	0.000%	$528K	$301K	30x	as long as short
Lighter WTI	0.0000%	1h	92.762	−0.041%	$11.2M	$10.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.838	+0.041%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.755	−0.048%	$26.6M	$81.1M	150x	as long as short
Bitget CLUSDTshort	0.0000%	4h	92.741	−0.064%	$41.9M	$43.3M	100x
Phoenix WTIOIL	0.0000%	1h	92.820	+0.022%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.758	−0.045%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.328	−0.509%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0008%	1h	92.810	+0.011%	$2.1M	$23.0M	10x	as long as short
Paradex CL-USD-PERP	+0.0024%	8h	92.743	−0.061%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	92.430	−0.399%	$726K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.800	0.000%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.767	−0.036%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.755	−0.048%	$2.1M	$61K	20x	as long as short
KuCoin CLUSDTM	+0.0052%	4h	92.764	−0.039%	$7.3M	$2.3M	50x	as long as short
RISEx CL/USDC	+0.0066%	1h	92.862	+0.066%	$3.3M	$2.7M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.747	−0.057%	$331K	$618K	10x	as long as short
ApeX Omni CLUSDTlong	+0.0100%	1h	92.800	long leg	$56K	$265K	50x
Aevo WTIOIL-PERP	+0.0104%	1h	92.725	−0.081%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.751	−0.053%	$273K	$872K	25x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.755	−0.048%	$78K	—	111x	as long as short
BloFin CL-USDT	+0.0209%	4h	92.790	−0.011%	$4.0M	$1.1M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.95	+9.864%	$19K	$11K	30x	as long as short