Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0026%/8h= +2.9% APRpaid last 24h +0.009%

Price spread now: Gate against Binance−0.101%7-day average −0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$310.312% of the position

Long on Binance Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.179%−$18 on $10k

Price spread, last 7 days−0.013%−$1 · spread now −0.101%, 7d avg −0.081%

Together, before fees−0.191%−$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.081%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.179%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CLUSDT	89.490	−0.0103	get 0.0052% / 4h	1h 58m	$239.0M	$1.19B	100x
Short	Gate CL_USDT	89.400	−0.0077	pay 0.0077% / 8h	5h 58m	$23.0M	$52.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Binance. 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 BinancebpFee GatebpOrdersPrice spread, now −0.101%Rate

Funding earned: $5.56
Price spread: −0.101% → −0.081%: −$1.92
Slippage, 4 orders: −$6.24
Fee Binance: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$27.6
Costs to cover: 0.312%
Break-even: 41.7 days

Slippage from Binance: live order book, 9 min ago; Gate: live order book, 4 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 Binance live order book, 9 min ago	0.56 bp	5.6 bp −$6	5.6 bp −$56	10.6 bp −$1,059	37.9 bp −$18.9K
Sell Gate live order book, 4 min ago	0.55 bp	10.2 bp −$10	17.4 bp −$174	27.8 bp −$2,775	33.0 bp −$16.5K

CL on 36 exchanges

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
Kraken Futures PF_WTIOILUSD	−0.0342%	1h	89.452	−0.042%	$322K	$1.8M	25x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0309%	1h	89.410	−0.089%	$133K	$530K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0238%	1h	89.470	−0.022%	$3.4M	$6.1M	20x	as long as short
tradeXYZ xyz:CL	−0.0182%	1h	89.435	−0.061%	$170.3M	$243.0M	20x	as long as short
Aster CLUSD1	−0.0149%	4h	89.502	+0.013%	$24.4M	$70.6M	20x	as long as short
Bitget CLUSDT	−0.0118%	4h	89.480	−0.011%	$40.7M	$55.1M	100x	as long as short
Binance CLUSDTlong	−0.0103%	4h	89.490	long leg	$239.0M	$1.19B	100x
Extended WTI-USD	−0.0096%	1h	89.450	−0.045%	$1.3M	$14.8M	10x	as long as short
Variational Omni CL	−0.0081%	4h	90.154	+0.742%	$12.7M	$11.3M	—	as long as short
edgeX CLUSDC	−0.0081%	4h	90.230	+0.827%	$504K	$380K	30x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDTshort	−0.0077%	8h	89.400	−0.101%	$23.0M	$52.7M	100x
GRVT CL_USDT_Perp	−0.0066%	4h	90.610	+1.251%	$74K	$628K	25x	as long as short
Lighter WTI	−0.0064%	1h	89.560	+0.078%	$10.7M	$10.0M	20x	as long as short
Nado WTI-PERP	−0.0055%	1h	89.647	+0.176%	$868K	$682K	10x	as long as short
Aftermath Perps WTIUSD	−0.0045%	1h	90.047	+0.622%	$1K	$27K	5x	as long as short
OKX CL-USDT-SWAP	−0.0041%	4h	89.430	−0.067%	$39.7M	$128.5M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	89.640	+0.168%	$409K	$1.5M	15x	as long as short
QFEX CL-USD	−0.0025%	1h	89.550	+0.067%	$2.2M	$2.8M	10x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	89.813	+0.361%	$1K	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	89.748	+0.288%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	89.421	−0.077%	$26.8M	$107.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	89.582	+0.102%	$2.8M	$3.1M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	89.471	−0.021%	$16K	$238K	10x	as long as short
Paradex CL-USD-PERP	+0.0009%	8h	89.559	+0.077%	$15K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	89.720	+0.257%	$694K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	89.570	+0.089%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	89.526	+0.040%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	89.427	−0.070%	$2.0M	$82K	20x	as long as short
Phoenix WTIOIL	+0.0053%	1h	90.370	+0.983%	$36K	$37K	20x	as long as short
Pacifica CL	+0.0100%	1h	89.599	+0.122%	$300K	$729K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	89.522	+0.036%	$6.9M	$3.0M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	90.090	+0.670%	$52K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	89.406	−0.094%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0167% / S +0.0013%	1h	89.655	+0.184%	$72K	—	111x	as long as short
BloFin CL-USDT	+0.0199%	4h	89.640	+0.168%	$3.9M	$1.1M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	90.137	+0.723%	$16K	$5K	30x	as long as short