Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0102%/8h= −11.1% APRpaid last 24h −0.011%

Price spread now: Aster against Bullet+0.024%7-day average 0.000% · 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−$260.255% of the position

Long on Bullet Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.020%−$2 on $10k

Price spread, last 3 days (all we have)−0.022%−$2 · spread now +0.024%, 7d avg 0.000%

Together, before fees−0.042%+ Points / potential airdropAster: Stage 5 · farm board−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.024% dearer against Bullet than usual: you sell high and buy low (spread +0.024% now, against its 7-day average of 0.000%): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 19 hours. At the pace of the last 3 days (−0.020% in total) that is about 3.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet WTIOIL-USD	91.995	0.0102	pay 0.0013% / 1h	30m 35s	$18K	$242K	10x
Short	Aster CLUSD1	92.017	0	get 0.0000% / 4h	2h 30m	$24.5M	$76.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Bullet. 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 BulletbpFee AsterbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$21.33
Price spread: +0.024% → 0.000%: $2.44
Slippage, 4 orders: −$9.54
Fee Bullet: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$44.43
Costs to cover: 0.255%
Break-even: never at this rate

Slippage from Bullet: live order book, 58 min ago; Aster: 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 Bullet live order book, 58 min ago	1.52 bp	7.2 bp −$7	17.9 bp −$179	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	0.54 bp	4.5 bp −$5	5.0 bp −$50	doesn't fit	doesn't fit

CL on 35 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
QFEX CL-USD	−0.0019%	1h	91.980	−0.016%	$2.4M	$2.9M	10x	as long as short
Aster CLUSD1short	0.0000%	4h	92.017	+0.024%	$24.5M	$76.7M	20x
dYdX WTI-USD	0.0000%	1h	91.992	−0.003%	$8K	$3K	5x	as long as short
Binance CLUSDT	0.0000%	4h	91.976	−0.021%	$246.5M	$1.14B	100x	as long as short
Bybit CLUSDT	0.0000%	8h	91.937	−0.063%	$25.3M	$100.3M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	91.930	−0.070%	$43.1M	$117.0M	50x	as long as short
Gate CL_USDT	0.0000%	8h	91.870	−0.136%	$21.2M	$63.0M	100x	as long as short
Bitget CLUSDT	0.0000%	4h	91.941	−0.058%	$42.2M	$69.4M	100x	as long as short
Variational Omni CL	0.0000%	4h	92.142	+0.160%	$13.7M	$16.1M	—	as long as short
GRVT CL_USDT_Perp	0.0000%	4h	92.061	+0.072%	$58K	$782K	25x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit WTIOIL_USDC-PERPETUAL	0.0000%	1h	92.020	+0.027%	$95K	$315K	15x	as long as short
Aftermath Perps WTIUSD	0.0000%	1h	91.981	−0.014%	$2K	$31K	5x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.000	+0.006%	$33K	$99K	20x	as long as short
Lighter WTI	+0.0032%	1h	91.948	−0.051%	$11.0M	$12.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.027	+0.035%	$2.0M	$29.8M	10x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	92.044	+0.054%	$17K	$18K	30x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0040%	1h	92.014	+0.021%	$258K	$1.4M	25x	as long as short
StandX CL-USD	+0.0040%	1h	91.990	−0.005%	$725K	$3.0M	40x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0040%	1h	92.080	+0.093%	$393K	$1.3M	15x	as long as short
Vest CL-PERP	+0.0046%	1h	92.020	+0.027%	—	$243K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	91.993	−0.002%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	91.995	0.000%	$2.0M	$42K	20x	as long as short
Ondo Perps WTI-USD.P	+0.0050%	1h	91.990	−0.005%	$3.5M	$6.5M	20x	as long as short
edgeX CLUSDC	+0.0092%	4h	92.016	+0.024%	$529K	$343K	30x	as long as short
Pacifica CL	+0.0100%	1h	91.947	−0.052%	$333K	$573K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	91.979	−0.017%	$7.3M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.110	+0.125%	$55K	$265K	50x	as long as short
Bullet WTIOIL-USDlong	+0.0102%	1h	91.995	long leg	$18K	$242K	10x
Aevo WTIOIL-PERP	+0.0104%	1h	91.975	−0.021%	$4K	$49	10x	as long as short
Paradex CL-USD-PERP	+0.0107%	8h	91.944	−0.055%	$15K	$367	5x	as long as short
tradeXYZ xyz:CL	+0.0173%	1h	91.988	−0.007%	$182.6M	$296.2M	20x	as long as short
Nado WTI-PERP	+0.0177%	1h	91.973	−0.024%	$879K	$792K	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0212% / S −0.0127%	1h	91.995	0.000%	$76K	—	111x	as long as short
BloFin CL-USDT	+0.0240%	4h	91.930	−0.070%	$4.0M	$1.5M	50x	as long as short
RISEx CL/USDC	+0.0266%	1h	92.073	+0.085%	$3.2M	$2.7M	20x	as long as short