Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0273%/8h= −29.9% APRpaid last 24h −0.105%

Price spread now: Gate against BloFin−0.065%93s7-day average −0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$340.339% of the position

Long on BloFin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.741%−$74 on $10k

Price spread, last 3 days (all we have)+0.109%+$11 · spread now −0.065%, 7d avg −0.056%

Together, before fees−0.631%−$63 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.056%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate. The two prices were read 93 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin CL-USDT	92.240	0.0240	pay 0.0120% / 4h	3h 59m	$4.0M	$1.4M	50x
Short	Gate CL_USDT	92.180	−0.0033	pay 0.0033% / 8h	7h 59m	$21.3M	$53.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against BloFin. 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 BloFinbpFee GatebpOrdersPrice spread, now −0.065%Rate

Funding earned: −$57.33
Price spread: −0.065% → −0.056%: −$0.92
Slippage, 4 orders: −$6.85
Fee BloFin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$92.1
Costs to cover: 0.339%
Break-even: never at this rate

Slippage from BloFin: live order book, 9 min ago; Gate: live order book, 4 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 BloFin live order book, 9 min ago	1.08 bp	7.1 bp −$7	7.1 bp −$71	10.3 bp −$1,027	27.3 bp −$13.7K
Sell Gate live order book, 4 min ago	0.54 bp	8.9 bp −$9	12.7 bp −$127	28.2 bp −$2,817	36.1 bp −$18.1K

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
Kraken Futures PF_WTIOILUSD	−0.0449%	1h	92.242	+0.002%	$273K	$1.2M	25x	as long as short
GRVT CL_USDT_Perp	−0.0328%	4h	92.193	−0.051%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0299%	4h	92.274	+0.037%	$23.9M	$77.4M	20x	as long as short
Binance CLUSDT	−0.0223%	4h	92.240	0.000%	$244.5M	$1.08B	100x	as long as short
Variational Omni CL	−0.0206%	4h	92.193	−0.051%	$13.2M	$12.7M	—	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0183%	1h	92.230	−0.011%	$96K	$189K	15x	as long as short
Nado WTI-PERP	−0.0131%	1h	92.294	+0.059%	$925K	$733K	10x	as long as short
Lighter WTI	−0.0064%	1h	92.258	+0.020%	$11.2M	$9.9M	20x	as long as short
QFEX CL-USD	−0.0054%	1h	92.240	0.000%	$2.4M	$2.3M	10x	as long as short
Gate CL_USDTshort	−0.0033%	8h	92.180	−0.065%	$21.3M	$53.9M	100x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex CL-USD-PERP	−0.0031%	8h	92.224	−0.017%	$15K	$367	5x	as long as short
Ondo Perps WTI-USD.P	−0.0027%	1h	92.180	−0.065%	$3.5M	$6.4M	20x	as long as short
Pacifica CL	−0.0020%	1h	92.246	+0.007%	$353K	$596K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.269	+0.031%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.235	−0.005%	$26.0M	$94.3M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.240	0.000%	$42.9M	$111.4M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.356	+0.126%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.306	+0.072%	$42.0M	$51.5M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.300	+0.065%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.220	−0.022%	$19K	$241K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	−0.228%	$399K	$962K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.799	−0.478%	$5K	—	150x	as long as short
tradeXYZ xyz:CL	+0.0008%	1h	92.269	+0.031%	$186.2M	$267.3M	20x	as long as short
edgeX CLUSDC	+0.0021%	4h	92.241	+0.001%	$530K	$326K	30x	as long as short
Extended WTI-USD	+0.0032%	1h	92.310	+0.076%	$2.0M	$26.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.210	−0.033%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.280	+0.043%	—	$308K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.259	+0.021%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.212	−0.030%	$2.0M	$39K	20x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.257	+0.018%	$7.3M	$2.2M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.220	−0.022%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.197	−0.047%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0205% / S −0.0130%	1h	92.215	−0.027%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.34	+9.861%	$19K	$11K	30x	as long as short
BloFin CL-USDTlong	+0.0240%	4h	92.240	long leg	$4.0M	$1.4M	50x
Aftermath Perps WTIUSD	+0.0502%	1h	92.256	+0.017%	$2K	$29K	5x	as long as short