Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0164%/8h= +18.0% APRpaid last 24h +0.016%

Price spread now: Extended against Bitget+0.027%7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs+$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$220.221% of the position

Long on Bitget Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.251%+$25 on $10k

Price spread, last 7 days−0.068%−$7 · spread now +0.027%, 7d avg −0.033%

Together, before fees+0.183%+ Points / potential airdropExtended: Active · farm board+$18 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 Extended is 0.060% dearer against Bitget than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CLUSDT	93.425	−0.0132	get 0.0066% / 4h	2h 23m	$42.0M	$42.8M	100x
Short	Extended WTI-USD	93.450	0.0032	get 0.0004% / 1h	23m 40s	$2.0M	$17.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bitget. 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 BitgetbpFee ExtendedbpOrdersPrice spread, now +0.027%Rate

Funding earned: $34.44
Price spread: +0.027% → −0.033%: $5.98
Slippage, 4 orders: −$5.14
Fee Bitget: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $18.28
Costs to cover: 0.221%
Break-even: 3.3 days

Slippage from Bitget: live order book, 5 min ago; Extended: 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 Bitget live order book, 5 min ago	0.37 bp	7.5 bp −$7	10.3 bp −$103	20.2 bp −$2,017	doesn't fit
Sell Extended live order book, 5 min ago	0.64 bp	3.9 bp −$4	7.5 bp −$75	24.1 bp −$2,413	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	−0.0392%	1h	93.410	−0.016%	$197K	$374K	15x	as long as short
GRVT CL_USDT_Perp	−0.0320%	4h	93.424	−0.001%	$58K	$639K	25x	as long as short
Aster CLUSD1	−0.0299%	4h	93.457	+0.035%	$24.4M	$65.0M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.459	+0.036%	$285K	$958K	25x	as long as short
Binance CLUSDT	−0.0188%	4h	93.431	+0.007%	$246.1M	$933.1M	100x	as long as short
Variational Omni CL	−0.0182%	4h	93.450	+0.026%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0150%	1h	93.465	+0.043%	$2K	$26K	5x	as long as short
Bitget CLUSDTlong	−0.0132%	4h	93.425	long leg	$42.0M	$42.8M	100x
Nado WTI-PERP	−0.0131%	1h	93.572	+0.157%	$968K	$616K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0110%	1h	93.340	−0.091%	$3.5M	$5.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0079%	8h	93.360	−0.070%	$21.8M	$49.8M	100x	as long as short
edgeX CLUSDC	−0.0074%	4h	93.495	+0.075%	$526K	$305K	30x	as long as short
tradeXYZ xyz:CL	−0.0065%	1h	93.391	−0.036%	$184.8M	$213.4M	20x	as long as short
OKX CL-USDT-SWAP	−0.0056%	4h	93.430	+0.005%	$42.6M	$102.6M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.500	+0.080%	$404K	$931K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.420	−0.005%	$2.3M	$2.4M	10x	as long as short
dYdX WTI-USD	0.0000%	1h	93.388	−0.039%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.444	+0.020%	$27.1M	$79.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.483	+0.062%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.380	−0.048%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.465	+0.043%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.995	−0.460%	$5K	—	150x	as long as short
Lighter WTI	+0.0008%	1h	93.419	−0.006%	$11.2M	$9.9M	20x	as long as short
Paradex CL-USD-PERP	+0.0008%	8h	93.385	−0.042%	$16K	$367	5x	as long as short
Extended WTI-USDshort	+0.0032%	1h	93.450	+0.027%	$2.0M	$17.2M	10x
StandX CL-USD	+0.0040%	1h	93.510	+0.091%	$740K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.470	+0.048%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.420	−0.006%	$332K	$576K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.470	+0.048%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.411	−0.015%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0066%	4h	93.447	+0.024%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.410	−0.016%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.412	−0.014%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0180%	4h	93.450	+0.027%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.60	+9.824%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0237% / S −0.0170%	1h	93.455	+0.032%	$84K	—	111x	as long as short