Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: OKX against Bullet−0.012%7-day average −0.004% · 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−$26as in the Price arb table

costs, in and out, $10k−$250.249% of the position

Long on Bullet Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.034%−$3 on $10k

Price spread, last 3 days (all we have)−0.002%$0 · spread now −0.012%, 7d avg −0.004%

Together, before fees−0.036%−$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet WTIOIL-USD	92.211	0	get 0.0000% / 1h	23m 25s	$19K	$241K	10x
Short	OKX CL-USDT-SWAP	92.200	0	get 0.0000% / 4h	23m 25s	$43.0M	$112.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.012%Rate

Funding earned: $0
Price spread: −0.012% → −0.004%: −$0.77
Slippage, 4 orders: −$6.88
Fee Bullet: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$25.66
Costs to cover: 0.249%
Break-even: never at this rate

Slippage from Bullet: live order book, 56 min ago; OKX: live order book, 6 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, 56 min ago	0.54 bp	6.3 bp −$6	16.9 bp −$169	doesn't fit	doesn't fit
Sell OKX live order book, 6 min ago	0.54 bp	6.5 bp −$6	6.9 bp −$69	14.3 bp −$1,427	85.6 bp −$42.8K

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	92.254	+0.047%	$274K	$1.2M	25x	as long as short
GRVT CL_USDT_Perp	−0.0316%	4h	92.230	+0.020%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0269%	4h	92.220	+0.010%	$24.0M	$77.4M	20x	as long as short
Binance CLUSDT	−0.0184%	4h	92.210	−0.001%	$244.7M	$1.09B	100x	as long as short
Variational Omni CL	−0.0162%	4h	92.224	+0.014%	$13.4M	$12.5M	—	as long as short
Nado WTI-PERP	−0.0143%	1h	92.260	+0.053%	$925K	$737K	10x	as long as short
Lighter WTI	−0.0080%	1h	92.194	−0.019%	$11.2M	$10.9M	20x	as long as short
Paradex CL-USD-PERP	−0.0068%	8h	92.186	−0.027%	$15K	$367	5x	as long as short
Ondo Perps WTI-USD.P	−0.0056%	1h	92.190	−0.023%	$3.5M	$6.3M	20x	as long as short
tradeXYZ xyz:CL	−0.0054%	1h	92.210	−0.001%	$186.4M	$275.0M	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	92.210	−0.001%	$2.4M	$2.3M	10x	as long as short
Gate CL_USDT	−0.0032%	8h	92.140	−0.077%	$21.3M	$58.0M	100x	as long as short
Pacifica CL	−0.0020%	1h	92.210	−0.001%	$333K	$576K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.274	+0.068%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.220	+0.010%	$25.9M	$94.3M	150x	as long as short
OKX CL-USDT-SWAPshort	0.0000%	4h	92.200	−0.012%	$43.0M	$112.9M	50x
RISEx CL/USDC	0.0000%	1h	92.332	+0.131%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.198	−0.014%	$42.0M	$51.7M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.300	+0.096%	$37K	$101K	20x	as long as short
Bullet WTIOIL-USDlong	0.0000%	1h	92.211	long leg	$19K	$241K	10x
Deribit WTIOIL_USDC-PERPETUAL	0.0000%	1h	92.240	+0.031%	$96K	$189K	15x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	−0.197%	$399K	$963K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.754	−0.496%	$5K	—	150x	as long as short
edgeX CLUSDC	+0.0016%	4h	92.258	+0.051%	$530K	$325K	30x	as long as short
Extended WTI-USD	+0.0032%	1h	92.250	+0.042%	$2.0M	$26.7M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.230	+0.020%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.250	+0.042%	—	$308K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.204	−0.008%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.210	−0.001%	$2.0M	$39K	20x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.254	+0.046%	$7.1M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.320	+0.118%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.207	−0.005%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0205% / S −0.0130%	1h	92.205	−0.007%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.18	+9.727%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.250	+0.042%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0289%	1h	92.248	+0.040%	$2K	$29K	5x	as long as short