Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%

Price spread now: Bitget against Coinbase International+0.217%7-day average +0.097% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$270.273% of the position

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 3 days (all we have)−0.171%−$17 · spread now +0.217%, 7d avg +0.097%

Together, before fees−0.149%−$15 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: Bitget is 0.121% dearer against Coinbase International than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.097%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WTIOIL-PERP-INTX	92.030	0	get 0.0000% / 1h	6m 08s	$399K	$963K	15x
Short	Bitget CLUSDT	92.230	0	get 0.0000% / 4h	6m 08s	$42.0M	$51.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Coinbase International. 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 Coinbase InternationalbpFee BitgetbpOrdersPrice spread, now +0.217%Rate

Funding earned: $0
Price spread: +0.217% → +0.097%: $12.07
Slippage, 4 orders: −$5.35
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$15.27
Costs to cover: 0.273%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 47 min ago; Bitget: live order book, 3 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 Coinbase International live order book, 47 min ago	1.09 bp	6.4 bp −$6	8.6 bp −$86	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.38 bp	7.1 bp −$7	9.0 bp −$90	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
Kraken Futures PF_WTIOILUSD	−0.0449%	1h	92.269	+0.260%	$273K	$1.2M	25x	as long as short
GRVT CL_USDT_Perp	−0.0316%	4h	92.160	+0.141%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0286%	4h	92.253	+0.242%	$23.9M	$77.5M	20x	as long as short
Binance CLUSDT	−0.0206%	4h	92.240	+0.228%	$244.6M	$1.09B	100x	as long as short
Variational Omni CL	−0.0196%	4h	92.223	+0.209%	$13.2M	$12.7M	—	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0183%	1h	92.250	+0.239%	$96K	$189K	15x	as long as short
Nado WTI-PERP	−0.0130%	1h	92.298	+0.291%	$925K	$736K	10x	as long as short
Lighter WTI	−0.0072%	1h	92.233	+0.221%	$11.2M	$10.9M	20x	as long as short
QFEX CL-USD	−0.0054%	1h	92.240	+0.228%	$2.4M	$2.3M	10x	as long as short
Ondo Perps WTI-USD.P	−0.0046%	1h	92.220	+0.206%	$3.5M	$6.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex CL-USD-PERP	−0.0037%	8h	92.226	+0.213%	$15K	$367	5x	as long as short
tradeXYZ xyz:CL	−0.0035%	1h	92.263	+0.253%	$186.2M	$267.1M	20x	as long as short
Gate CL_USDT	−0.0034%	8h	92.180	+0.163%	$21.3M	$58.1M	100x	as long as short
Pacifica CL	−0.0020%	1h	92.244	+0.233%	$333K	$576K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.269	+0.260%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.234	+0.222%	$26.1M	$94.4M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.240	+0.228%	$43.0M	$112.5M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.361	+0.360%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDTshort	0.0000%	4h	92.230	+0.217%	$42.0M	$51.5M	100x
Phoenix WTIOIL	0.0000%	1h	92.190	+0.174%	$37K	$101K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.245	+0.233%	$19K	$241K	10x	as long as short
Coinbase International WTIOIL-PERP-INTXlong	0.0000%	1h	92.030	long leg	$399K	$963K	15x
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.810	−0.239%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	92.285	+0.277%	$2.0M	$26.7M	10x	as long as short
edgeX CLUSDC	+0.0035%	4h	92.185	+0.169%	$530K	$325K	30x	as long as short
StandX CL-USD	+0.0040%	1h	92.230	+0.217%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.280	+0.272%	—	$308K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.244	+0.233%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.235	+0.223%	$2.0M	$39K	20x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.238	+0.226%	$7.3M	$2.2M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.210	+0.196%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.211	+0.197%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0205% / S −0.0130%	1h	92.235	+0.223%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.34	+10.112%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.240	+0.228%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0447%	1h	92.253	+0.242%	$2K	$29K	5x	as long as short