Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h +0.011%

Price spread now: Bullet against Aster−0.011%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$250.254% of the position

Long on Aster Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.020%+$2 on $10k

Price spread, last 3 days (all we have)+0.017%+$2 · spread now −0.011%, 7d avg −0.001%

Together, before fees+0.038%+ Points / potential airdropAster: Stage 5 · farm board+$4 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: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster CLUSD1	91.860	−0.0037	get 0.0019% / 4h	1h 36m	$23.9M	$78.5M	20x
Short	Bullet WTIOIL-USD	91.850	−0.0157	pay 0.0020% / 1h	36m 15s	$19K	$240K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Aster. 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 AsterbpFee BulletbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$25.11
Price spread: −0.011% → −0.001%: −$1.02
Slippage, 4 orders: −$9.42
Fee Aster: 4 bp × 2 orders: −$8
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$51.55
Costs to cover: 0.254%
Break-even: never at this rate

Slippage from Aster: live order book, 3 min ago; Bullet: live order book, 48 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 Aster live order book, 3 min ago	0.55 bp	4.5 bp −$5	5.8 bp −$58	29.1 bp −$2,910	doesn't fit
Sell Bullet live order book, 48 min ago	1.41 bp	8.9 bp −$9	17.7 bp −$177	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
Lighter WTI	−0.0320%	1h	91.828	−0.035%	$11.0M	$11.2M	20x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0294%	1h	91.870	+0.011%	$95K	$260K	15x	as long as short
Nado WTI-PERP	−0.0205%	1h	91.927	+0.072%	$920K	$758K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0197%	1h	91.840	−0.022%	$3.5M	$6.4M	20x	as long as short
Aftermath Perps WTIUSD	−0.0197%	1h	91.855	−0.006%	$2K	$30K	5x	as long as short
tradeXYZ xyz:CL	−0.0176%	1h	91.881	+0.023%	$184.9M	$283.8M	20x	as long as short
Bullet WTIOIL-USDshort	−0.0157%	1h	91.850	−0.011%	$19K	$240K	10x
ApeX Omni CLUSDT	−0.0114%	1h	91.910	+0.054%	$55K	$266K	50x	as long as short
Paradex CL-USD-PERP	−0.0096%	8h	91.837	−0.025%	$15K	$367	5x	as long as short
Extended WTI-USD	−0.0056%	1h	91.930	+0.076%	$2.0M	$29.1M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster CLUSD1long	−0.0037%	4h	91.860	long leg	$23.9M	$78.5M	20x
Polymarket Perps WTIOIL-USD	−0.0028%	1h	91.852	−0.009%	$1.6M	$1.4M	20x	as long as short
GRVT CL_USDT_Perp	−0.0028%	4h	91.822	−0.041%	$58K	$726K	25x	as long as short
dYdX WTI-USD	0.0000%	1h	91.863	+0.003%	$8K	$3K	5x	as long as short
Binance CLUSDT	0.0000%	4h	91.850	−0.011%	$245.1M	$1.12B	100x	as long as short
Bybit CLUSDT	0.0000%	8h	91.870	+0.011%	$25.3M	$97.5M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	91.860	0.000%	$43.1M	$114.3M	50x	as long as short
QFEX CL-USD	0.0000%	1h	91.840	−0.022%	$2.4M	$2.5M	10x	as long as short
Gate CL_USDT	0.0000%	8h	91.790	−0.076%	$21.2M	$59.0M	100x	as long as short
Bitget CLUSDT	0.0000%	4h	91.855	−0.005%	$42.1M	$58.5M	100x	as long as short
Variational Omni CL	0.0000%	4h	91.804	−0.060%	$13.4M	$14.0M	—	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.447	−0.450%	$4K	—	10x	as long as short
Phoenix WTIOIL	+0.0009%	1h	91.930	+0.076%	$33K	$99K	20x	as long as short
StandX CL-USD	+0.0025%	1h	91.830	−0.033%	$722K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	91.960	+0.109%	—	$243K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	91.855	−0.005%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0072%	4h	91.863	+0.003%	$528K	$341K	30x	as long as short
Pacifica CL	+0.0100%	1h	91.863	+0.003%	$330K	$575K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	91.884	+0.026%	$7.3M	$2.1M	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.830	−0.033%	$4K	—	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0112%	1h	91.720	−0.152%	$384K	$1.2M	15x	as long as short
Injective WTI/USDC PERP	+0.0172%	1h	100.99	+9.942%	$19K	$18K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	91.845	−0.016%	$76K	—	29x	as long as short
BloFin CL-USDT	+0.0240%	4h	91.850	−0.011%	$4.0M	$1.5M	50x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0451%	1h	91.855	−0.005%	$256K	$1.2M	25x	as long as short
RISEx CL/USDC	+0.0977%	1h	91.966	+0.115%	$3.2M	$2.8M	20x	as long as short