Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0112%/8h= +12.2% APRpaid last 24h +0.003%

Price spread now: Ondo Perps against Bitget−0.047%7-day average −0.068% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.238%+$24 on $10k

Price spread, last 7 days+0.188%+$19 · spread now −0.047%, 7d avg −0.068%

Together, before fees+0.426%+ Points / potential airdropOndo Perps: Active · farm board+$43 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Ondo Perps is 0.021% dearer against Bitget than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CLUSDT	92.243	−0.0078	get 0.0039% / 4h	3h 18m	$42.0M	$42.0M	100x
Short	Ondo Perps WTI-USD.P	92.200	0.0034	get 0.0004% / 1h	18m 39s	$3.6M	$5.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.047%Rate

Funding earned: $23.44
Price spread: −0.047% → −0.068%: $2.11
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $8.55
Costs to cover: 0.170%
Break-even: 4.4 days

Slippage unknown: Bitget: live order book, 10 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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, 10 min ago	0.48 bp	7.7 bp −$8	10.4 bp −$104	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0617%	1h	92.220	−0.025%	$184K	$414K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0315%	1h	92.300	+0.062%	$258K	$956K	25x	as long as short
Aster CLUSD1	−0.0215%	4h	92.276	+0.036%	$24.9M	$59.4M	20x	as long as short
Binance CLUSDT	−0.0124%	4h	92.244	+0.002%	$244.9M	$934.4M	100x	as long as short
Variational Omni CL	−0.0105%	4h	92.432	+0.204%	$13.5M	$10.7M	—	as long as short
Gate CL_USDT	−0.0101%	8h	92.200	−0.047%	$23.7M	$50.5M	100x	as long as short
Nado WTI-PERP	−0.0099%	1h	92.410	+0.181%	$946K	$598K	10x	as long as short
GRVT CL_USDT_Perp	−0.0094%	4h	92.469	+0.245%	$74K	$611K	25x	as long as short
Bitget CLUSDTlong	−0.0078%	4h	92.243	long leg	$42.0M	$42.0M	100x
Aftermath Perps WTIUSD	−0.0055%	1h	92.604	+0.392%	$1K	$27K	5x	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	−0.0045%	4h	92.260	+0.018%	$42.4M	$102.9M	50x	as long as short
QFEX CL-USD	−0.0026%	1h	92.340	+0.105%	$2.3M	$2.5M	10x	as long as short
tradeXYZ xyz:CL	−0.0009%	1h	92.249	+0.007%	$183.6M	$192.3M	20x	as long as short
edgeX CLUSDC	−0.0005%	4h	92.515	+0.295%	$540K	$342K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	92.319	+0.082%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.280	+0.040%	$27.6M	$83.3M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.267	+0.027%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.278	+0.038%	$19K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.867	−0.408%	$5K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.520	+0.300%	$37K	$39K	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	92.340	+0.105%	$417K	$982K	15x	as long as short
Paradex CL-USD-PERP	+0.0018%	8h	92.243	0.000%	$15K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	92.225	−0.020%	$11.2M	$9.0M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.300	+0.062%	$1.7M	$14.0M	10x	as long as short
Ondo Perps WTI-USD.Pshort	+0.0034%	1h	92.200	−0.047%	$3.6M	$5.2M	20x
StandX CL-USD	+0.0040%	1h	92.520	+0.300%	$727K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.350	+0.116%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.378	+0.146%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.255	+0.013%	$2.1M	$69K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.262	+0.021%	$342K	$574K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.253	+0.011%	$7.0M	$2.5M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.450	+0.224%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.232	−0.012%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0165% / S −0.0007%	1h	92.475	+0.252%	$80K	—	111x	as long as short
BloFin CL-USDT	+0.0194%	4h	92.280	+0.040%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+10.723%	$19K	$5K	30x	as long as short