Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0178%/8h= +19.5% APRpaid last 24h +0.012%

Price spread now: QFEX against Binance−0.001%7-day average −0.035% · 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−$25as in the Price arb table

costs, in and out, $10k−$280.284% of the position

Long on Binance Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.019%−$2 on $10k

Price spread, last 7 days−0.019%−$2 · spread now −0.001%, 7d avg −0.035%

Together, before fees−0.038%−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and QFEX is 0.034% dearer against Binance than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CLUSDT	92.811	−0.0210	get 0.0105% / 4h	1h 32m	$244.8M	$955.9M	100x
Short	QFEX CL-USD	92.810	−0.0032	pay 0.0004% / 1h	32m 01s	$2.5M	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.001%Rate

Funding earned: $37.33
Price spread: −0.001% → −0.035%: $3.39
Slippage, 4 orders: −$8.36
Fee Binance: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: $12.36
Costs to cover: 0.284%
Break-even: 4.7 days

Slippage from Binance: live order book, 12 min ago; QFEX: live order book, 5 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, 12 min ago	0.54 bp	5.5 bp −$6	5.5 bp −$55	7.5 bp −$754	17.0 bp −$8,480
Sell QFEX live order book, 5 min ago	3.24 bp	9.0 bp −$9	9.3 bp −$93	10.9 bp −$1,094	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	−0.0504%	1h	92.790	−0.023%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0250%	4h	92.830	+0.021%	$23.9M	$68.7M	20x	as long as short
GRVT CL_USDT_Perp	−0.0232%	4h	92.738	−0.079%	$61K	$625K	25x	as long as short
Binance CLUSDTlong	−0.0210%	4h	92.811	long leg	$244.8M	$955.9M	100x
Variational Omni CL	−0.0204%	4h	92.697	−0.123%	$13.5M	$11.1M	—	as long as short
Ondo Perps WTI-USD.P	−0.0170%	1h	92.790	−0.023%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0152%	1h	92.898	+0.093%	$962K	$664K	10x	as long as short
Gate CL_USDT	−0.0092%	8h	92.770	−0.044%	$20.9M	$52.5M	100x	as long as short
tradeXYZ xyz:CL	−0.0069%	1h	92.830	+0.021%	$184.5M	$218.3M	20x	as long as short
OKX CL-USDT-SWAP	−0.0046%	4h	92.820	+0.010%	$42.8M	$102.0M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps WTIUSD	−0.0040%	1h	92.825	+0.015%	$2K	$27K	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.066%	$402K	$944K	15x	as long as short
QFEX CL-USDshort	−0.0032%	1h	92.810	−0.001%	$2.5M	$1.7M	10x
edgeX CLUSDC	−0.0025%	4h	92.747	−0.069%	$528K	$302K	30x	as long as short
Extended WTI-USD	−0.0008%	1h	92.880	+0.074%	$2.1M	$22.8M	10x	as long as short
Lighter WTI	0.0000%	1h	92.827	+0.017%	$11.2M	$10.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.862	+0.055%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.830	+0.021%	$26.5M	$81.2M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.817	+0.007%	$41.9M	$43.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	−0.023%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.831	+0.021%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.394	−0.449%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0018%	8h	92.818	+0.008%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	92.520	−0.313%	$727K	$2.9M	40x	as long as short
KuCoin CLUSDTM	+0.0044%	4h	92.838	+0.029%	$7.3M	$2.3M	50x	as long as short
Vest CL-PERP	+0.0046%	1h	92.860	+0.053%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.840	+0.031%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.822	+0.012%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	92.944	+0.144%	$3.3M	$2.7M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.834	+0.025%	$331K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.830	+0.021%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.795	−0.017%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.848	+0.040%	$273K	$872K	25x	as long as short
BloFin CL-USDT	+0.0197%	4h	92.730	−0.087%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.820	+0.010%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.95	+9.851%	$19K	$11K	30x	as long as short