Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0177%/8h= −19.4% APRpaid last 24h −0.082%

Price spread now: tradeXYZ against BloFin+0.098%68s7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as 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−$320.316% of the position

Long on BloFin Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.316%−$32 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now +0.098%, 7d avg +0.020%

Together, before fees−0.344%+ Points / potential airdroptradeXYZ: Active · farm board−$34 on $10k · with fees, hour by hour

The price spread pays, funding is against you. tradeXYZ is 0.078% dearer against BloFin than usual: you sell high and buy low (spread +0.098% now, against its 7-day average of +0.020%): +$8 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 35 hours. The two prices were read 68 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	93.040	0.0160	pay 0.0080% / 4h	9m 57s	$4.1M	$983K	50x
Short	tradeXYZ xyz:CL	93.131	−0.0018	pay 0.0002% / 1h	9m 57s	$184.4M	$198.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.098%Rate

Funding earned: −$37.25
Price spread: +0.098% → +0.020%: $7.78
Slippage, 4 orders: −$1.57
Fee BloFin: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$61.03
Costs to cover: 0.316%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; tradeXYZ: live order book, 10 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, 3 min ago	0.54 bp	6.5 bp −$7	6.5 bp −$65	12.7 bp −$1,266	30.0 bp −$15.0K
Sell tradeXYZ live order book, 10 min ago	0.05 bp	9.3 bp −$9	10.0 bp −$100	doesn't fit	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	−0.0394%	1h	93.060	+0.021%	$194K	$397K	15x	as long as short
Aster CLUSD1	−0.0267%	4h	93.180	+0.150%	$24.8M	$62.7M	20x	as long as short
GRVT CL_USDT_Perp	−0.0234%	4h	92.930	−0.118%	$77K	$622K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0210%	1h	93.085	+0.049%	$276K	$929K	25x	as long as short
Binance CLUSDT	−0.0147%	4h	93.126	+0.093%	$247.2M	$921.4M	100x	as long as short
Variational Omni CL	−0.0136%	4h	93.053	+0.014%	$13.5M	$10.6M	—	as long as short
Gate CL_USDT	−0.0135%	8h	93.070	+0.032%	$23.1M	$50.5M	100x	as long as short
Bitget CLUSDT	−0.0112%	4h	93.108	+0.073%	$42.3M	$41.5M	100x	as long as short
Nado WTI-PERP	−0.0111%	1h	93.131	+0.098%	$954K	$614K	10x	as long as short
Aftermath Perps WTIUSD	−0.0097%	1h	93.025	−0.016%	$1K	$26K	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	−0.0078%	4h	93.120	+0.086%	$42.7M	$102.9M	50x	as long as short
QFEX CL-USD	−0.0038%	1h	93.060	+0.021%	$2.3M	$2.4M	10x	as long as short
edgeX CLUSDC	−0.0021%	4h	93.014	−0.028%	$523K	$306K	30x	as long as short
tradeXYZ xyz:CLshort	−0.0018%	1h	93.131	+0.098%	$184.4M	$198.1M	20x
Lighter WTI	−0.0016%	1h	93.057	+0.018%	$11.2M	$9.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.537%	$405K	$810K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0008%	1h	93.040	0.000%	$3.6M	$5.3M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.077	+0.040%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.140	+0.107%	$27.0M	$79.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.094	+0.058%	$3.0M	$2.8M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.950	−0.097%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.081	+0.044%	$18K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.624	−0.447%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0007%	8h	93.053	+0.014%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.150	+0.118%	$1.7M	$15.0M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.110	+0.075%	$738K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.070	+0.032%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.074	+0.037%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.069	+0.031%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.083	+0.046%	$347K	$591K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.097	+0.061%	$7.0M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.950	−0.097%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.059	+0.021%	$4K	—	10x	as long as short
BloFin CL-USDTlong	+0.0160%	4h	93.040	long leg	$4.1M	$983K	50x
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.774%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0259% / S −0.0206%	1h	93.075	+0.038%	$84K	—	111x	as long as short