Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0098%/8h= +10.7% APRpaid last 24h −0.033%

Price spread now: Gate against Bullet−0.062%7-day average −0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$330.325% of the position

Long on Bullet Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.150%−$15 on $10k

Price spread, last 3 days (all we have)−0.006%−$1 · spread now −0.062%, 7d avg −0.073%

Together, before fees−0.156%−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.073%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair cost −0.150%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet WTIOIL-USD	91.997	−0.0105	get 0.0013% / 1h	8m 47s	$18K	$241K	10x
Short	Gate CL_USDT	91.940	−0.0007	pay 0.0007% / 8h	1h 08m	$21.3M	$59.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.062%Rate

Funding earned: $20.56
Price spread: −0.062% → −0.073%: $1.11
Slippage, 4 orders: −$9.52
Fee Bullet: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$10.84
Costs to cover: 0.325%
Break-even: 10.7 days

Slippage from Bullet: live order book, 10 min ago; Gate: 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 Bullet live order book, 10 min ago	0.54 bp	6.3 bp −$6	16.9 bp −$169	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	0.54 bp	9.4 bp −$9	13.8 bp −$138	30.9 bp −$3,093	39.4 bp −$19.7K

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
Lighter WTI	−0.0280%	1h	91.992	−0.005%	$11.1M	$11.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0202%	4h	91.982	−0.017%	$58K	$715K	25x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0185%	1h	92.020	+0.025%	$95K	$189K	15x	as long as short
Nado WTI-PERP	−0.0162%	1h	92.085	+0.096%	$923K	$747K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0157%	1h	91.980	−0.018%	$3.5M	$6.4M	20x	as long as short
Aster CLUSD1	−0.0142%	4h	92.020	+0.025%	$23.9M	$77.9M	20x	as long as short
tradeXYZ xyz:CL	−0.0133%	1h	92.023	+0.028%	$185.6M	$278.1M	20x	as long as short
Aftermath Perps WTIUSD	−0.0113%	1h	92.041	+0.047%	$2K	$29K	5x	as long as short
Bullet WTIOIL-USDlong	−0.0105%	1h	91.997	long leg	$18K	$241K	10x
Paradex CL-USD-PERP	−0.0100%	8h	91.998	+0.001%	$15K	$367	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CLUSDT	−0.0045%	4h	92.000	+0.003%	$244.9M	$1.11B	100x	as long as short
Variational Omni CL	−0.0018%	4h	92.003	+0.006%	$13.4M	$13.3M	—	as long as short
Gate CL_USDTshort	−0.0007%	8h	91.940	−0.062%	$21.3M	$59.6M	100x
dYdX WTI-USD	0.0000%	1h	92.108	+0.120%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.039	+0.046%	$25.5M	$95.7M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.000	+0.003%	$43.2M	$113.3M	50x	as long as short
QFEX CL-USD	0.0000%	1h	92.000	+0.003%	$2.4M	$2.6M	10x	as long as short
Bitget CLUSDT	0.0000%	4h	91.995	−0.002%	$42.1M	$52.2M	100x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.583	−0.450%	$4K	—	150x	as long as short
Polymarket Perps WTIOIL-USD	+0.0007%	1h	92.017	+0.022%	$1.6M	$1.4M	20x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.060	+0.068%	$37K	$99K	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.065	+0.074%	$2.0M	$28.8M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.000	+0.003%	$723K	$3.0M	40x	as long as short
edgeX CLUSDC	+0.0044%	4h	92.041	+0.048%	$529K	$334K	30x	as long as short
Vest CL-PERP	+0.0046%	1h	92.070	+0.079%	—	$308K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	91.997	0.000%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.019	+0.024%	$332K	$578K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.055	+0.063%	$7.2M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	91.990	−0.008%	$55K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.994	−0.003%	$4K	—	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0112%	1h	92.020	+0.025%	$398K	$1.1M	15x	as long as short
Injective WTI/USDC PERP	+0.0172%	1h	101.16	+9.959%	$19K	$18K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	91.995	−0.002%	$76K	—	111x	as long as short
BloFin CL-USDT	+0.0240%	4h	91.990	−0.008%	$4.0M	$1.4M	50x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0450%	1h	92.028	+0.033%	$275K	$1.2M	25x	as long as short
RISEx CL/USDC	+0.0977%	1h	92.126	+0.140%	$3.3M	$2.7M	20x	as long as short