Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0021%/8h= +2.2% APRpaid last 24h −0.015%

Price spread now: Nado against Bitget+0.065%7-day average −0.013% · you sell dearer than you buy

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

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

costs, in and out, $10k−$240.241% of the position

Long on Bitget Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.037%−$4 on $10k

Price spread, last 7 days−0.143%−$14 · spread now +0.065%, 7d avg −0.013%

Together, before fees−0.179%+ Points / potential airdropNado: Active · farm board−$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Nado is 0.078% dearer against Bitget than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CLUSDT	93.022	−0.0128	get 0.0064% / 4h	3h 55m	$42.0M	$43.5M	100x
Short	Nado WTI-PERP	93.082	−0.0107	pay 0.0013% / 1h	55m 52s	$964K	$647K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.065%Rate

Funding earned: $4.31
Price spread: +0.065% → −0.013%: $7.75
Slippage, 4 orders: −$5.07
Fee Bitget: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$12
Costs to cover: 0.241%
Break-even: 26.5 days

Slippage from Bitget: live order book, 3 min ago; Nado: live order book, 63 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, 3 min ago	0.54 bp	7.7 bp −$8	9.6 bp −$96	doesn't fit	doesn't fit
Sell Nado live order book, 63 min ago	0.05 bp	5.3 bp −$5	9.9 bp −$99	36.1 bp −$3,605	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	−0.0287%	1h	93.020	−0.002%	$198K	$370K	15x	as long as short
Aster CLUSD1	−0.0267%	4h	93.055	+0.035%	$24.1M	$66.5M	20x	as long as short
Binance CLUSDT	−0.0178%	4h	93.051	+0.032%	$245.1M	$944.9M	100x	as long as short
Variational Omni CL	−0.0168%	4h	93.019	−0.004%	$13.5M	$10.8M	—	as long as short
Bitget CLUSDTlong	−0.0128%	4h	93.022	long leg	$42.0M	$43.5M	100x
Aftermath Perps WTIUSD	−0.0108%	1h	92.992	−0.033%	$2K	$27K	5x	as long as short
Nado WTI-PERPshort	−0.0107%	1h	93.082	+0.065%	$964K	$647K	10x
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.043	+0.022%	$268K	$934K	25x	as long as short
Ondo Perps WTI-USD.P	−0.0054%	1h	93.000	−0.024%	$3.5M	$5.4M	20x	as long as short
edgeX CLUSDC	−0.0053%	4h	92.956	−0.071%	$526K	$302K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAP	−0.0048%	4h	93.040	+0.019%	$42.5M	$102.8M	50x	as long as short
Gate CL_USDT	−0.0044%	8h	92.990	−0.034%	$20.9M	$50.6M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.930	−0.099%	$399K	$948K	15x	as long as short
QFEX CL-USD	−0.0033%	1h	93.020	−0.002%	$2.3M	$1.8M	10x	as long as short
KuCoin CLUSDTM	−0.0020%	4h	93.055	+0.035%	$7.1M	$2.4M	50x	as long as short
tradeXYZ xyz:CL	−0.0011%	1h	93.034	+0.013%	$184.6M	$219.8M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.030	+0.009%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.057	+0.038%	$26.5M	$80.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.105	+0.089%	$3.1M	$2.9M	20x	as long as short
GRVT CL_USDT_Perp	0.0000%	4h	92.971	−0.054%	$56K	$656K	25x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.980	−0.045%	$37K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.046	+0.026%	$18K	$243K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.589	−0.465%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0006%	8h	93.018	−0.004%	$16K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	93.034	+0.013%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.070	+0.052%	$2.0M	$19.9M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.980	−0.045%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.050	+0.030%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.038	+0.017%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.035	+0.014%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.035	+0.014%	$330K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.010	−0.013%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.010	−0.013%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0190%	4h	93.070	+0.052%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0218% / S −0.0145%	1h	93.045	+0.025%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.17	+9.830%	$19K	$11K	30x	as long as short