Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0062%/8h= +6.8% APRpaid last 24h −0.011%

Price spread now: Gate against Bitget−0.024%7-day average −0.068% · 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−$31as in the Price arb table

costs, in and out, $10k−$360.357% of the position

Long on Bitget Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.132%−$13 on $10k

Price spread, last 7 days−0.074%−$7 · spread now −0.024%, 7d avg −0.068%

Together, before fees−0.206%−$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Gate is 0.043% dearer against Bitget than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.068%. Mind the row above: over the last 7 days funding on this pair cost −0.132%, 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	Bitget CLUSDT	89.942	−0.0096	get 0.0048% / 4h	1h 31m	$40.9M	$56.1M	100x
Short	Gate CL_USDT	89.920	−0.0034	pay 0.0034% / 8h	5h 31m	$23.1M	$54.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.024%Rate

Funding earned: $13.02
Price spread: −0.024% → −0.068%: $4.32
Slippage, 4 orders: −$8.73
Fee Bitget: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$18.39
Costs to cover: 0.357%
Break-even: 16.9 days

Slippage from Bitget: live order book, 11 min ago; Gate: 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 Bitget live order book, 11 min ago	0.34 bp	7.5 bp −$8	9.1 bp −$91	doesn't fit	doesn't fit
Sell Gate live order book, 6 min ago	0.56 bp	9.9 bp −$10	18.4 bp −$184	28.4 bp −$2,843	33.7 bp −$16.8K

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	−0.0340%	1h	89.920	−0.024%	$317K	$1.8M	25x	as long as short
Aster CLUSD1	−0.0107%	4h	89.991	+0.055%	$24.4M	$72.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0100%	4h	89.798	−0.161%	$61K	$643K	25x	as long as short
Bitget CLUSDTlong	−0.0096%	4h	89.942	long leg	$40.9M	$56.1M	100x
Aftermath Perps WTIUSD	−0.0085%	1h	89.814	−0.142%	$1K	$26K	5x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0083%	1h	89.940	−0.002%	$39K	$652K	15x	as long as short
tradeXYZ xyz:CL	−0.0061%	1h	89.946	+0.004%	$166.5M	$240.9M	20x	as long as short
Binance CLUSDT	−0.0061%	4h	89.970	+0.031%	$241.4M	$1.21B	100x	as long as short
Ondo Perps WTI-USD.P	−0.0055%	1h	89.910	−0.036%	$3.4M	$6.4M	20x	as long as short
edgeX CLUSDC	−0.0045%	4h	89.890	−0.058%	$497K	$366K	30x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni CL	−0.0044%	4h	89.822	−0.133%	$12.6M	$11.2M	—	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	89.650	−0.325%	$409K	$1.4M	15x	as long as short
Gate CL_USDTshort	−0.0034%	8h	89.920	−0.024%	$23.1M	$54.9M	100x
Nado WTI-PERP	−0.0032%	1h	90.009	+0.074%	$878K	$688K	10x	as long as short
QFEX CL-USD	−0.0025%	1h	89.950	+0.009%	$2.2M	$2.6M	10x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	89.560	−0.425%	$609	—	150x	as long as short
OKX CL-USDT-SWAP	−0.0001%	4h	89.950	+0.009%	$40.3M	$134.4M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	89.890	−0.057%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	89.970	+0.031%	$27.8M	$109.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	90.002	+0.067%	$2.8M	$3.1M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	89.940	−0.002%	$33K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	89.915	−0.030%	$16K	$236K	10x	as long as short
Extended WTI-USD	+0.0008%	1h	89.970	+0.031%	$1.4M	$14.1M	10x	as long as short
Paradex CL-USD-PERP	+0.0022%	8h	89.943	+0.001%	$15K	$458	5x	as long as short
Lighter WTI	+0.0032%	1h	89.952	+0.011%	$10.7M	$10.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	89.800	−0.158%	$693K	$2.7M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	89.920	−0.024%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	89.882	−0.067%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	89.938	−0.004%	$2.0M	$83K	20x	as long as short
Pacifica CL	+0.0100%	1h	89.961	+0.021%	$301K	$739K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	89.955	+0.014%	$6.9M	$3.0M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	89.960	+0.020%	$52K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	89.911	−0.034%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0164% / S +0.0004%	1h	89.905	−0.041%	$75K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	90.137	+0.217%	$16K	$5K	30x	as long as short
BloFin CL-USDT	+0.0236%	4h	89.900	−0.047%	$3.9M	$1.1M	50x	as long as short