Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0081%/8h= +8.8% APRpaid last 24h +0.039%

Price spread now: BloFin against ApeX Omni−0.064%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$570.567% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 4 days (all we have)+0.033%+$3 · spread now −0.064%, 7d avg −0.016%

Together, before fees+0.097%+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.048% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.064% now, against its 7-day average of −0.016%). If the spread goes back, that is −$5 on $10k: about 48 hours of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.064% in total) that is about 5.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni CLUSDT	93.460	0.0100	pay 0.0013% / 1h	2m 39s	$54K	$266K	50x
Short	BloFin CL-USDT	93.400	0.0181	get 0.0090% / 4h	1h 02m	$4.1M	$969K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.064%Rate

Funding earned: $16.94
Price spread: −0.064% → −0.016%: −$4.84
Slippage, 4 orders: −$34.7
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$44.6
Costs to cover: 0.567%
Break-even: 25.4 days

Slippage from ApeX Omni: live order book, 39 min ago; BloFin: live order book, 6 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, 39 min ago	8.55 bp	21.2 bp −$21	185.5 bp −$1,855	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	1.61 bp	7.6 bp −$8	7.6 bp −$76	11.4 bp −$1,143	27.6 bp −$13.8K

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	−0.0499%	1h	93.370	−0.096%	$195K	$386K	15x	as long as short
GRVT CL_USDT_Perp	−0.0302%	4h	93.400	−0.064%	$53K	$628K	25x	as long as short
Aster CLUSD1	−0.0297%	4h	93.420	−0.042%	$24.6M	$65.4M	20x	as long as short
Binance CLUSDT	−0.0170%	4h	93.386	−0.080%	$247.5M	$918.2M	100x	as long as short
Variational Omni CL	−0.0153%	4h	93.439	−0.023%	$13.4M	$10.7M	—	as long as short
Ondo Perps WTI-USD.P	−0.0138%	1h	93.350	−0.118%	$3.5M	$5.3M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0137%	1h	93.409	−0.055%	$276K	$967K	25x	as long as short
Aftermath Perps WTIUSD	−0.0133%	1h	93.460	0.000%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0128%	4h	93.368	−0.098%	$42.4M	$42.1M	100x	as long as short
Gate CL_USDT	−0.0127%	8h	93.330	−0.139%	$22.7M	$50.7M	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	−0.0084%	1h	93.390	−0.075%	$184.6M	$204.1M	20x	as long as short
Nado WTI-PERP	−0.0078%	1h	93.464	+0.005%	$961K	$633K	10x	as long as short
OKX CL-USDT-SWAP	−0.0061%	4h	93.380	−0.086%	$42.9M	$102.1M	50x	as long as short
edgeX CLUSDC	−0.0047%	4h	93.433	−0.029%	$525K	$305K	30x	as long as short
QFEX CL-USD	−0.0023%	1h	93.370	−0.096%	$2.3M	$2.4M	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0008%	1h	93.540	+0.086%	$405K	$917K	15x	as long as short
Lighter WTI	0.0000%	1h	93.389	−0.076%	$11.3M	$9.7M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.487	+0.029%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.390	−0.075%	$26.7M	$79.0M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.428	−0.034%	$3.0M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.450	−0.011%	$37K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.396	−0.068%	$20K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.962	−0.533%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0001%	8h	93.358	−0.109%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.430	−0.032%	$2.0M	$14.8M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.470	+0.011%	$741K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.400	−0.064%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.389	−0.076%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.390	−0.075%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.383	−0.083%	$332K	$572K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.403	−0.061%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDTlong	+0.0100%	1h	93.460	long leg	$54K	$266K	50x
Aevo WTIOIL-PERP	+0.0104%	1h	93.370	−0.097%	$4K	—	10x	as long as short
BloFin CL-USDTshort	+0.0181%	4h	93.400	−0.064%	$4.1M	$969K	50x
Injective WTI/USDC PERP	+0.0220%	1h	102.82	+10.014%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0250% / S −0.0185%	1h	93.395	−0.070%	$84K	—	111x	as long as short