Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0280%/8h= −30.6% APRpaid last 24h −0.078%

Price spread now: QFEX against BloFin+0.043%7-day average +0.004% · 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−$23as in the Price arb table

costs, in and out, $10k−$270.271% of the position

Long on BloFin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.257%−$26 on $10k

Price spread, last 3 days (all we have)+0.009%+$1 · spread now +0.043%, 7d avg +0.004%

Together, before fees−0.249%−$25 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.040% dearer against BloFin than usual: you sell high and buy low (spread +0.043% now, against its 7-day average of +0.004%): +$4 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin CL-USDT	92.400	0.0240	pay 0.0120% / 4h	3h 32m	$4.0M	$1.4M	50x
Short	QFEX CL-USD	92.440	−0.0040	pay 0.0005% / 1h	32m 44s	$2.4M	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$58.77
Price spread: +0.043% → +0.004%: $3.96
Slippage, 4 orders: −$5.14
Fee BloFin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$81.94
Costs to cover: 0.271%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; QFEX: 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 BloFin live order book, 6 min ago	0.54 bp	6.5 bp −$7	6.5 bp −$65	12.5 bp −$1,254	29.5 bp −$14.7K
Sell QFEX live order book, 5 min ago	1.62 bp	7.4 bp −$7	7.7 bp −$77	9.3 bp −$930	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
GRVT CL_USDT_Perp	−0.0356%	4h	92.460	+0.065%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0328%	4h	92.502	+0.110%	$24.0M	$80.2M	20x	as long as short
Binance CLUSDT	−0.0265%	4h	92.486	+0.093%	$245.2M	$1.07B	100x	as long as short
Variational Omni CL	−0.0254%	4h	92.451	+0.055%	$13.2M	$12.2M	—	as long as short
Gate CL_USDT	−0.0229%	8h	92.420	+0.022%	$21.3M	$54.9M	100x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.507	+0.116%	$274K	$1.1M	25x	as long as short
Nado WTI-PERP	−0.0084%	1h	92.511	+0.121%	$932K	$732K	10x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0074%	1h	92.500	+0.108%	$96K	$189K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0044%	1h	92.460	+0.065%	$3.5M	$6.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.400%	$399K	$960K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USDshort	−0.0040%	1h	92.440	+0.043%	$2.4M	$2.1M	10x
tradeXYZ xyz:CL	−0.0021%	1h	92.506	+0.115%	$186.4M	$256.8M	20x	as long as short
Paradex CL-USD-PERP	−0.0012%	8h	92.470	+0.075%	$15K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	92.483	+0.090%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.510	+0.119%	$26.2M	$92.6M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.480	+0.087%	$43.0M	$111.1M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.613	+0.231%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.482	+0.089%	$42.1M	$50.9M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.530	+0.141%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.488	+0.095%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.047	−0.382%	$5K	—	150x	as long as short
Lighter WTI	+0.0008%	1h	92.495	+0.103%	$11.2M	$10.1M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.520	+0.130%	$2.3M	$27.1M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.370	−0.032%	$722K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.490	+0.097%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.472	+0.078%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.486	+0.093%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0066%	4h	92.484	+0.091%	$532K	$299K	30x	as long as short
Pacifica CL	+0.0100%	1h	92.499	+0.107%	$354K	$596K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.518	+0.128%	$7.3M	$2.3M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.550	+0.162%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.450	+0.054%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.485	+0.092%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.56	+9.909%	$19K	$11K	30x	as long as short
BloFin CL-USDTlong	+0.0240%	4h	92.400	long leg	$4.0M	$1.4M	50x
Aftermath Perps WTIUSD	+0.0287%	1h	92.452	+0.056%	$2K	$28K	5x	as long as short