Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.018%

Price spread now: RISEx against Bullet+0.103%72s7-day average +0.044% · 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−$230.232% of the position

Long on Bullet Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.117%+$12 on $10k

Price spread, last 4 days (all we have)−0.091%−$9 · spread now +0.103%, 7d avg +0.044%

Together, before fees+0.027%+$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: RISEx is 0.059% dearer against Bullet than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.044%. The two prices were read 72 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	93.624	0	get 0.0000% / 1h	28m 41s	$19K	$240K	10x
Short	RISEx CL/USDC	93.721	0	get 0.0000% / 1h	28m 41s	$3.1M	$2.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.103%Rate

Funding earned: $0
Price spread: +0.103% → +0.044%: $5.89
Slippage, 4 orders: −$9.25
Fee Bullet: 4 bp × 2 orders: −$8
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$17.35
Costs to cover: 0.232%
Break-even: never at this rate

Slippage from Bullet: live order book, 15 min ago; RISEx: 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, 15 min ago	1.55 bp	8.7 bp −$9	17.2 bp −$172	doesn't fit	doesn't fit
Sell RISEx live order book, 5 min ago	0.53 bp	3.5 bp −$4	4.7 bp −$47	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	−0.0498%	1h	93.560	−0.068%	$196K	$383K	15x	as long as short
Aster CLUSD1	−0.0271%	4h	93.651	+0.029%	$24.6M	$65.2M	20x	as long as short
GRVT CL_USDT_Perp	−0.0256%	4h	93.654	+0.032%	$58K	$618K	25x	as long as short
Binance CLUSDT	−0.0146%	4h	93.610	−0.015%	$247.1M	$918.3M	100x	as long as short
Aftermath Perps WTIUSD	−0.0142%	1h	93.652	+0.030%	$2K	$26K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0137%	1h	93.606	−0.019%	$283K	$960K	25x	as long as short
Variational Omni CL	−0.0135%	4h	93.659	+0.037%	$13.5M	$10.6M	—	as long as short
Ondo Perps WTI-USD.P	−0.0115%	1h	93.570	−0.058%	$3.5M	$5.4M	20x	as long as short
Gate CL_USDT	−0.0105%	8h	93.520	−0.111%	$22.4M	$49.3M	100x	as long as short
Bitget CLUSDT	−0.0100%	4h	93.598	−0.028%	$42.3M	$42.0M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0073%	1h	93.603	−0.022%	$185.1M	$207.0M	20x	as long as short
Nado WTI-PERP	−0.0053%	1h	93.673	+0.052%	$966K	$621K	10x	as long as short
edgeX CLUSDC	−0.0042%	4h	93.649	+0.027%	$526K	$307K	30x	as long as short
QFEX CL-USD	−0.0023%	1h	93.640	+0.017%	$2.3M	$2.5M	10x	as long as short
OKX CL-USDT-SWAP	−0.0015%	4h	93.600	−0.026%	$42.9M	$101.8M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0008%	1h	93.500	−0.132%	$404K	$916K	15x	as long as short
dYdX WTI-USD	0.0000%	1h	93.733	+0.116%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.604	−0.021%	$27.0M	$79.0M	150x	as long as short
RISEx CL/USDCshort	0.0000%	1h	93.721	+0.103%	$3.1M	$2.9M	20x
Phoenix WTIOIL	0.0000%	1h	93.690	+0.070%	$37K	$39K	20x	as long as short
Bullet WTIOIL-USDlong	0.0000%	1h	93.624	long leg	$19K	$240K	10x
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.188	−0.466%	$5K	—	150x	as long as short
Lighter WTI	+0.0016%	1h	93.607	−0.018%	$11.3M	$9.6M	20x	as long as short
Paradex CL-USD-PERP	+0.0026%	8h	93.609	−0.016%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.640	+0.017%	$2.0M	$15.7M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.680	+0.060%	$742K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.640	+0.017%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.623	−0.001%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.593	−0.033%	$2.1M	$61K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.621	−0.003%	$333K	$574K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.622	−0.002%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.690	+0.070%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.581	−0.046%	$4K	—	10x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.97	+9.986%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0226%	4h	93.600	−0.026%	$4.0M	$977K	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0246% / S −0.0179%	1h	93.675	+0.054%	$84K	—	111x	as long as short