Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0013%/8h= −1.4% APRpaid last 24h −0.003%

Price spread now: QFEX against edgeX−0.047%57s7-day average −0.002% · 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—prices read too far apart to compare

costs, in and out, $10k−$460.464% of the position

Long on edgeX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.028%+$3 on $10k

Price spread, last 3 days (all we have)+0.039%+$4 · spread now −0.047%, 7d avg −0.002%

Together, before fees+0.066%+ Points / potential airdropedgeX: Active · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and QFEX is 0.045% cheaper against edgeX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.002%). Swap the legs. The two prices were read 57 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	edgeX CLUSDC	91.933	0.0013	pay 0.0006% / 4h	1h 26m	$529K	$340K	30x
Short	QFEX CL-USD	91.890	0	get 0.0000% / 1h	26m 31s	$2.4M	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.047%Rate

Funding earned: −$2.71
Price spread: −0.047% → −0.002%: −$4.52
Slippage, 4 orders: −$27.43
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$53.65
Costs to cover: 0.464%
Break-even: never at this rate

Slippage from edgeX: live order book, 57 min ago; QFEX: 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 edgeX live order book, 57 min ago	10.06 bp	14.6 bp −$15	14.8 bp −$148	33.8 bp −$3,376	doesn't fit
Sell QFEX live order book, 6 min ago	3.27 bp	8.3 bp −$8	8.3 bp −$83	9.7 bp −$966	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
Lighter WTI	−0.0320%	1h	91.863	−0.076%	$11.0M	$11.2M	20x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0294%	1h	91.910	−0.025%	$95K	$260K	15x	as long as short
Aftermath Perps WTIUSD	−0.0204%	1h	91.932	−0.001%	$2K	$30K	5x	as long as short
Nado WTI-PERP	−0.0182%	1h	91.962	+0.032%	$923K	$748K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0181%	1h	91.880	−0.058%	$3.5M	$6.4M	20x	as long as short
tradeXYZ xyz:CL	−0.0157%	1h	91.913	−0.022%	$184.9M	$284.1M	20x	as long as short
Bullet WTIOIL-USD	−0.0143%	1h	91.882	−0.056%	$18K	$240K	10x	as long as short
GRVT CL_USDT_Perp	−0.0114%	4h	91.887	−0.051%	$58K	$726K	25x	as long as short
Paradex CL-USD-PERP	−0.0105%	8h	91.877	−0.061%	$15K	$367	5x	as long as short
Aster CLUSD1	−0.0081%	4h	91.910	−0.025%	$23.9M	$78.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps WTIOIL-USD	−0.0019%	1h	91.889	−0.048%	$1.6M	$1.4M	20x	as long as short
Extended WTI-USD	−0.0016%	1h	91.960	+0.029%	$2.0M	$29.0M	10x	as long as short
StandX CL-USD	−0.0002%	1h	91.890	−0.047%	$722K	$3.1M	40x	as long as short
dYdX WTI-USD	0.0000%	1h	91.939	+0.007%	$8K	$3K	5x	as long as short
Binance CLUSDT	0.0000%	4h	91.889	−0.049%	$245.4M	$1.12B	100x	as long as short
Bybit CLUSDT	0.0000%	8h	91.910	−0.025%	$25.3M	$97.3M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	91.890	−0.047%	$43.1M	$113.9M	50x	as long as short
QFEX CL-USDshort	0.0000%	1h	91.890	−0.047%	$2.4M	$2.6M	10x
Gate CL_USDT	0.0000%	8h	91.830	−0.112%	$21.2M	$59.1M	100x	as long as short
Bitget CLUSDT	0.0000%	4h	91.886	−0.051%	$42.0M	$53.9M	100x	as long as short
Variational Omni CL	0.0000%	4h	91.884	−0.054%	$13.4M	$13.6M	—	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.475	−0.498%	$4K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	91.970	+0.040%	$37K	$99K	20x	as long as short
edgeX CLUSDClong	+0.0013%	4h	91.933	long leg	$529K	$340K	30x
Vest CL-PERP	+0.0046%	1h	92.000	+0.073%	—	$243K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	91.895	−0.042%	$2.0M	$39K	20x	as long as short
ApeX Omni CLUSDT	+0.0065%	1h	91.870	−0.069%	$55K	$266K	50x	as long as short
Pacifica CL	+0.0100%	1h	91.901	−0.035%	$332K	$579K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	91.916	−0.019%	$7.3M	$2.1M	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.873	−0.066%	$4K	—	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0112%	1h	91.920	−0.014%	$397K	$1.2M	15x	as long as short
Injective WTI/USDC PERP	+0.0172%	1h	100.99	+9.855%	$19K	$18K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	91.885	−0.052%	$76K	—	111x	as long as short
BloFin CL-USDT	+0.0240%	4h	91.910	−0.025%	$4.0M	$1.5M	50x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0451%	1h	91.912	−0.023%	$260K	$1.2M	25x	as long as short
RISEx CL/USDC	+0.0977%	1h	92.010	+0.083%	$3.2M	$2.8M	20x	as long as short