Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0139%/8h= −15.2% APRpaid last 24h +0.002%

Price spread now: Binance against Gate+0.086%7-day average +0.083% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$300.297% of the position

Long on Gate Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.231%+$23 on $10k

Price spread, last 7 days+0.014%+$1 · spread now +0.086%, 7d avg +0.083%

Together, before fees+0.244%+$24 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.083%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.231%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CL_USDT	92.890	−0.0045	get 0.0045% / 8h	4h 00m	$20.8M	$52.4M	100x
Short	Binance CLUSDT	92.970	−0.0184	pay 0.0092% / 4h	0m 58s	$244.7M	$944.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Gate. 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 GatebpFee BinancebpOrdersPrice spread, now +0.086%Rate

Funding earned: −$29.16
Price spread: +0.086% → +0.083%: $0.29
Slippage, 4 orders: −$4.68
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Binance: 5 bp × 2 orders: −$10
Net: −$58.55
Costs to cover: 0.297%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Binance: live order book, 13 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 Gate live order book, 3 min ago	0.54 bp	9.7 bp −$10	13.9 bp −$139	28.7 bp −$2,870	35.7 bp −$17.8K
Sell Binance live order book, 13 min ago	0.54 bp	5.5 bp −$6	5.5 bp −$55	9.4 bp −$937	26.6 bp −$13.3K

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	−0.0396%	1h	92.890	0.000%	$198K	$370K	15x	as long as short
Aster CLUSD1	−0.0274%	4h	92.970	+0.086%	$24.0M	$66.4M	20x	as long as short
GRVT CL_USDT_Perp	−0.0246%	4h	92.909	+0.020%	$56K	$656K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0196%	1h	92.941	+0.055%	$272K	$875K	25x	as long as short
Binance CLUSDTshort	−0.0184%	4h	92.970	+0.086%	$244.7M	$944.4M	100x
Variational Omni CL	−0.0172%	4h	92.899	+0.009%	$13.5M	$10.8M	—	as long as short
Bitget CLUSDT	−0.0130%	4h	92.951	+0.066%	$41.9M	$43.5M	100x	as long as short
tradeXYZ xyz:CL	−0.0115%	1h	92.933	+0.046%	$187.5M	$217.0M	20x	as long as short
Aftermath Perps WTIUSD	−0.0104%	1h	92.930	+0.043%	$2K	$27K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0086%	1h	92.870	−0.022%	$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
edgeX CLUSDC	−0.0085%	4h	92.899	+0.009%	$526K	$304K	30x	as long as short
OKX CL-USDT-SWAP	−0.0055%	4h	92.940	+0.054%	$42.5M	$102.7M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.930	+0.043%	$399K	$948K	15x	as long as short
Gate CL_USDTlong	−0.0045%	8h	92.890	long leg	$20.8M	$52.4M	100x
QFEX CL-USD	−0.0043%	1h	92.880	−0.011%	$2.3M	$1.8M	10x	as long as short
Nado WTI-PERP	−0.0040%	1h	92.951	+0.065%	$963K	$647K	10x	as long as short
KuCoin CLUSDTM	−0.0032%	4h	92.953	+0.068%	$7.1M	$2.4M	50x	as long as short
Lighter WTI	0.0000%	1h	92.915	+0.027%	$11.2M	$10.6M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.937	+0.050%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.950	+0.065%	$26.5M	$80.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.967	+0.083%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.940	+0.054%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.915	+0.026%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.477	−0.445%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0003%	8h	92.876	−0.015%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	92.980	+0.097%	$2.0M	$20.1M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.900	+0.011%	$734K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.930	+0.043%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.907	+0.018%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.929	+0.042%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0068%	1h	92.897	+0.008%	$330K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.900	+0.011%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.891	+0.001%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0184%	4h	92.910	+0.022%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0217% / S −0.0145%	1h	92.925	+0.038%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.25	+10.078%	$19K	$11K	30x	as long as short