Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0077%/8h= +8.4% APRpaid last 24h +0.005%

Price spread now: Bullet against edgeX+0.013%7-day average +0.017% · 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−$43as in the Price arb table

costs, in and out, $10k−$420.424% of the position

Long on edgeX Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.078%+$8 on $10k

Price spread, last 4 days (all we have)+0.011%+$1 · spread now +0.013%, 7d avg +0.017%

Together, before fees+0.089%+ Points / potential airdropedgeX: Active · farm board+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.017%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CLUSDC	93.325	−0.0077	get 0.0039% / 4h	2h 52m	$525K	$305K	30x
Short	Bullet WTIOIL-USD	93.337	0	get 0.0000% / 1h	52m 34s	$19K	$241K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against edgeX. 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 edgeXbpFee BulletbpOrdersPrice spread, now +0.013%Rate

Funding earned: $16.17
Price spread: +0.013% → +0.017%: −$0.44
Slippage, 4 orders: −$25.44
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$26.7
Costs to cover: 0.424%
Break-even: 18.6 days

Slippage from edgeX: live order book, 61 min ago; Bullet: live order book, 61 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 edgeX live order book, 61 min ago	10.27 bp	14.8 bp −$15	15.2 bp −$152	21.4 bp −$2,145	doesn't fit
Sell Bullet live order book, 61 min ago	0.54 bp	6.7 bp −$7	18.1 bp −$181	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	−0.0821%	1h	93.290	−0.038%	$197K	$372K	15x	as long as short
GRVT CL_USDT_Perp	−0.0340%	4h	93.316	−0.010%	$58K	$649K	25x	as long as short
Aster CLUSD1	−0.0294%	4h	93.361	+0.038%	$24.3M	$66.5M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.342	+0.018%	$282K	$961K	25x	as long as short
Binance CLUSDT	−0.0197%	4h	93.340	+0.016%	$246.4M	$936.5M	100x	as long as short
Variational Omni CL	−0.0180%	4h	93.309	−0.018%	$13.3M	$10.9M	—	as long as short
Ondo Perps WTI-USD.P	−0.0172%	1h	93.260	−0.070%	$3.5M	$5.3M	20x	as long as short
Aftermath Perps WTIUSD	−0.0135%	1h	93.334	+0.010%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0134%	4h	93.329	+0.004%	$42.1M	$43.1M	100x	as long as short
Nado WTI-PERP	−0.0129%	1h	93.411	+0.092%	$967K	$622K	10x	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	−0.0082%	1h	93.350	+0.027%	$184.6M	$215.4M	20x	as long as short
edgeX CLUSDClong	−0.0077%	4h	93.325	long leg	$525K	$305K	30x
Gate CL_USDT	−0.0074%	8h	93.290	−0.038%	$21.5M	$49.1M	100x	as long as short
OKX CL-USDT-SWAP	−0.0068%	4h	93.350	+0.027%	$42.6M	$102.5M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	−0.177%	$403K	$929K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.320	−0.006%	$2.3M	$2.1M	10x	as long as short
Lighter WTI	−0.0016%	1h	93.347	+0.023%	$11.2M	$9.8M	20x	as long as short
Paradex CL-USD-PERP	−0.0012%	8h	93.333	+0.008%	$16K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	93.329	+0.005%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.360	+0.037%	$27.0M	$79.8M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.400	+0.080%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.370	+0.048%	$37K	$41K	20x	as long as short
Bullet WTIOIL-USDshort	0.0000%	1h	93.337	+0.013%	$19K	$241K	10x
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.907	−0.448%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0024%	1h	93.390	+0.069%	$2.0M	$18.1M	10x	as long as short
KuCoin CLUSDTM	+0.0030%	4h	93.365	+0.043%	$7.1M	$2.4M	50x	as long as short
StandX CL-USD	+0.0040%	1h	93.320	−0.006%	$738K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.340	+0.016%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.352	+0.029%	$331K	$576K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.329	+0.004%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.331	+0.006%	$2.1M	$60K	20x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.290	−0.038%	$54K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.304	−0.023%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0173%	4h	93.300	−0.027%	$4.0M	$985K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.57	+9.908%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0229% / S −0.0159%	1h	93.335	+0.011%	$82K	—	111x	as long as short