Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0164%/8h= −18.0% APRpaid last 24h −0.016%

Price spread now: Bitget against Extended−0.057%7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$220.221% of the position

Long on Extended Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.251%−$25 on $10k

Price spread, last 7 days+0.098%+$10 · spread now −0.057%, 7d avg +0.033%

Together, before fees−0.153%+ Points / potential airdropExtended: Active · farm board−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Bitget is 0.090% cheaper against Extended than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.033%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended WTI-USD	93.420	0.0032	pay 0.0004% / 1h	23m 47s	$2.0M	$17.2M	10x
Short	Bitget CLUSDT	93.367	−0.0132	pay 0.0066% / 4h	2h 23m	$42.0M	$42.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Extended. 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 ExtendedbpFee BitgetbpOrdersPrice spread, now −0.057%Rate

Funding earned: −$34.44
Price spread: −0.057% → +0.033%: −$8.98
Slippage, 4 orders: −$5.14
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$65.55
Costs to cover: 0.221%
Break-even: never at this rate

Slippage from Extended: live order book, 5 min ago; Bitget: 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 Extended live order book, 5 min ago	0.64 bp	3.3 bp −$3	4.5 bp −$45	21.2 bp −$2,117	doesn't fit
Sell Bitget live order book, 5 min ago	0.37 bp	7.4 bp −$7	9.6 bp −$96	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	−0.0392%	1h	93.410	−0.011%	$197K	$374K	15x	as long as short
GRVT CL_USDT_Perp	−0.0320%	4h	93.424	+0.004%	$58K	$639K	25x	as long as short
Aster CLUSD1	−0.0300%	4h	93.420	0.000%	$24.4M	$65.1M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.459	+0.042%	$285K	$958K	25x	as long as short
Binance CLUSDT	−0.0189%	4h	93.391	−0.031%	$246.0M	$933.8M	100x	as long as short
Variational Omni CL	−0.0182%	4h	93.450	+0.032%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0150%	1h	93.465	+0.049%	$2K	$26K	5x	as long as short
Bitget CLUSDTshort	−0.0132%	4h	93.367	−0.057%	$42.0M	$42.8M	100x
Nado WTI-PERP	−0.0131%	1h	93.572	+0.163%	$968K	$616K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0112%	1h	93.440	+0.021%	$3.5M	$5.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0078%	8h	93.330	−0.096%	$21.8M	$49.8M	100x	as long as short
edgeX CLUSDC	−0.0074%	4h	93.495	+0.081%	$526K	$305K	30x	as long as short
tradeXYZ xyz:CL	−0.0065%	1h	93.391	−0.031%	$184.8M	$213.4M	20x	as long as short
OKX CL-USDT-SWAP	−0.0056%	4h	93.400	−0.021%	$42.6M	$102.6M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.500	+0.086%	$404K	$931K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.490	+0.075%	$2.3M	$2.4M	10x	as long as short
dYdX WTI-USD	0.0000%	1h	93.496	+0.081%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.420	0.000%	$27.1M	$79.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.523	+0.110%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.380	−0.043%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.465	+0.048%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.995	−0.455%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0008%	8h	93.452	+0.035%	$16K	$367	5x	as long as short
Lighter WTI	+0.0008%	1h	93.412	−0.009%	$11.2M	$9.9M	20x	as long as short
Extended WTI-USDlong	+0.0032%	1h	93.420	long leg	$2.0M	$17.2M	10x
StandX CL-USD	+0.0040%	1h	93.510	+0.096%	$740K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.470	+0.054%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.481	+0.065%	$332K	$576K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.470	+0.054%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.411	−0.010%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0064%	4h	93.443	+0.025%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.410	−0.011%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.412	−0.009%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0180%	4h	93.450	+0.032%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.60	+9.830%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0237% / S −0.0170%	1h	93.455	+0.037%	$84K	—	111x	as long as short