Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0079%/8h= +8.6% APRpaid last 24h −0.002%

Price spread now: edgeX against Bullet+0.031%67s7-day average −0.012% · 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—prices read too far apart to compare

costs, in and out, $10k−$420.418% of the position

Long on Bullet Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.071%−$7 on $10k

Price spread, last 3 days (all we have)−0.051%−$5 · spread now +0.031%, 7d avg −0.012%

Together, before fees−0.121%+ Points / potential airdropedgeX: Active · farm board−$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and edgeX is 0.043% dearer against Bullet than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.012%. Mind the row above: over the last 3 days funding on this pair cost −0.071%, so the current rate has only just turned in your favour. The two prices were read 67 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	Bullet WTIOIL-USD	92.246	0.0000	get 0.0000% / 1h	26m 21s	$19K	$241K	10x
Short	edgeX CLUSDC	92.275	0.0079	get 0.0039% / 4h	26m 21s	$531K	$334K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.031%Rate

Funding earned: $16.54
Price spread: +0.031% → −0.012%: $4.35
Slippage, 4 orders: −$24.78
Fee Bullet: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$20.89
Costs to cover: 0.418%
Break-even: 15.8 days

Slippage from Bullet: live order book, 53 min ago; edgeX: live order book, 52 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, 53 min ago	0.54 bp	6.3 bp −$6	16.9 bp −$169	doesn't fit	doesn't fit
Sell edgeX live order book, 52 min ago	9.94 bp	14.4 bp −$14	14.7 bp −$147	21.7 bp −$2,170	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
Kraken Futures PF_WTIOILUSD	−0.0449%	1h	92.288	+0.046%	$274K	$1.2M	25x	as long as short
GRVT CL_USDT_Perp	−0.0316%	4h	92.180	−0.072%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0265%	4h	92.260	+0.015%	$24.0M	$77.5M	20x	as long as short
Binance CLUSDT	−0.0180%	4h	92.250	+0.004%	$244.8M	$1.09B	100x	as long as short
Variational Omni CL	−0.0162%	4h	92.224	−0.023%	$13.4M	$12.5M	—	as long as short
Nado WTI-PERP	−0.0147%	1h	92.286	+0.043%	$925K	$737K	10x	as long as short
Lighter WTI	−0.0080%	1h	92.228	−0.020%	$11.2M	$10.9M	20x	as long as short
Paradex CL-USD-PERP	−0.0074%	8h	92.211	−0.038%	$15K	$367	5x	as long as short
Ondo Perps WTI-USD.P	−0.0066%	1h	92.260	+0.015%	$3.5M	$6.3M	20x	as long as short
tradeXYZ xyz:CL	−0.0054%	1h	92.252	+0.007%	$186.7M	$275.7M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0054%	1h	92.240	−0.007%	$2.4M	$2.4M	10x	as long as short
Gate CL_USDT	−0.0031%	8h	92.180	−0.072%	$21.3M	$57.9M	100x	as long as short
Pacifica CL	−0.0020%	1h	92.246	0.000%	$333K	$576K	10x	as long as short
Bullet WTIOIL-USDlong	0.0000%	1h	92.246	long leg	$19K	$241K	10x
dYdX WTI-USD	0.0000%	1h	92.274	+0.031%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.260	+0.015%	$25.9M	$94.3M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.240	−0.007%	$43.0M	$113.0M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.353	+0.116%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.218	−0.030%	$42.0M	$51.7M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.300	+0.059%	$37K	$101K	20x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	0.0000%	1h	92.270	+0.026%	$96K	$189K	15x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	−0.234%	$399K	$963K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.799	−0.485%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	92.280	+0.037%	$2.0M	$26.8M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.240	−0.007%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.280	+0.037%	—	$308K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.241	−0.005%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.245	−0.001%	$2.0M	$39K	20x	as long as short
edgeX CLUSDCshort	+0.0079%	4h	92.275	+0.031%	$531K	$334K	30x
KuCoin CLUSDTM	+0.0100%	4h	92.259	+0.014%	$7.1M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.340	+0.102%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.216	−0.033%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0205% / S −0.0130%	1h	92.235	−0.012%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.18	+9.686%	$19K	$11K	30x	as long as short
Aftermath Perps WTIUSD	+0.0234%	1h	92.267	+0.023%	$2K	$29K	5x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.260	+0.015%	$4.0M	$1.4M	50x	as long as short