Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.026%

Price spread now: Gate against Deribit−0.109%7-day average −0.078% · 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−$44as in the Price arb table

costs, in and out, $10k−$410.408% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.156%−$16 on $10k

Price spread, last 3 days (all we have)+0.239%+$24 · spread now −0.109%, 7d avg −0.078%

Together, before fees+0.083%+$8 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: Gate is 0.031% cheaper against Deribit than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.078%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit WTIOIL_USDC-PERPETUAL	92.020	0	get 0.0000% / 1h	31m 11s	$95K	$315K	15x
Short	Gate CL_USDT	91.920	0	get 0.0000% / 8h	2h 31m	$21.3M	$63.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Deribit. 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 DeribitbpFee GatebpOrdersPrice spread, now −0.109%Rate

Funding earned: $0
Price spread: −0.109% → −0.078%: −$3.05
Slippage, 4 orders: −$18.81
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$43.86
Costs to cover: 0.408%
Break-even: never at this rate

Slippage from Deribit: live order book, 57 min ago; Gate: 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 Deribit live order book, 57 min ago	0.54 bp	4.0 bp −$4	6.3 bp −$63	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	1.09 bp	14.8 bp −$15	22.8 bp −$228	34.2 bp −$3,424	41.1 bp −$20.6K

CL on 35 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
QFEX CL-USD	−0.0019%	1h	91.990	−0.033%	$2.4M	$2.9M	10x	as long as short
Aster CLUSD1	0.0000%	4h	92.020	0.000%	$24.5M	$76.5M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	91.992	−0.030%	$8K	$3K	5x	as long as short
Binance CLUSDT	0.0000%	4h	91.997	−0.025%	$246.6M	$1.14B	100x	as long as short
Bybit CLUSDT	0.0000%	8h	91.980	−0.043%	$25.4M	$100.3M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	91.990	−0.033%	$43.1M	$117.1M	50x	as long as short
Gate CL_USDTshort	0.0000%	8h	91.920	−0.109%	$21.3M	$63.0M	100x
Bitget CLUSDT	0.0000%	4h	91.974	−0.050%	$42.2M	$69.4M	100x	as long as short
Variational Omni CL	0.0000%	4h	92.142	+0.132%	$13.7M	$16.1M	—	as long as short
GRVT CL_USDT_Perp	0.0000%	4h	92.061	+0.044%	$58K	$782K	25x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit WTIOIL_USDC-PERPETUALlong	0.0000%	1h	92.020	long leg	$95K	$315K	15x
Aftermath Perps WTIUSD	0.0000%	1h	91.981	−0.042%	$2K	$31K	5x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.000	−0.022%	$33K	$99K	20x	as long as short
Lighter WTI	+0.0032%	1h	91.975	−0.049%	$11.0M	$12.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.028	+0.009%	$2.0M	$29.8M	10x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	92.044	+0.026%	$17K	$18K	30x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0040%	1h	92.014	−0.006%	$258K	$1.4M	25x	as long as short
StandX CL-USD	+0.0040%	1h	91.990	−0.033%	$725K	$3.0M	40x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0040%	1h	92.080	+0.065%	$393K	$1.3M	15x	as long as short
Vest CL-PERP	+0.0046%	1h	92.020	0.000%	—	$243K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	91.993	−0.029%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	91.995	−0.027%	$2.0M	$42K	20x	as long as short
Ondo Perps WTI-USD.P	+0.0050%	1h	91.960	−0.065%	$3.5M	$6.5M	20x	as long as short
edgeX CLUSDC	+0.0092%	4h	92.016	−0.004%	$529K	$343K	30x	as long as short
Pacifica CL	+0.0100%	1h	91.991	−0.032%	$333K	$573K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	91.988	−0.035%	$7.3M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.110	+0.098%	$55K	$265K	50x	as long as short
Bullet WTIOIL-USD	+0.0102%	1h	91.995	−0.027%	$18K	$242K	10x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.975	−0.049%	$4K	$49	10x	as long as short
Paradex CL-USD-PERP	+0.0109%	8h	91.944	−0.083%	$15K	$367	5x	as long as short
Nado WTI-PERP	+0.0177%	1h	91.973	−0.051%	$879K	$792K	10x	as long as short
tradeXYZ xyz:CL	+0.0181%	1h	91.999	−0.023%	$182.6M	$296.2M	20x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0212% / S −0.0127%	1h	91.995	−0.027%	$76K	—	111x	as long as short
BloFin CL-USDT	+0.0240%	4h	91.930	−0.098%	$4.0M	$1.5M	50x	as long as short
RISEx CL/USDC	+0.0266%	1h	92.103	+0.090%	$3.2M	$2.7M	20x	as long as short