Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0063%/8h= −6.9% APRpaid last 24h +0.012%

Price spread now: Bitget against Gate+0.056%7-day average +0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$330.332% of the position

Long on Gate Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.178%+$18 on $10k

Price spread, last 7 days+0.031%+$3 · spread now +0.056%, 7d avg +0.070%

Together, before fees+0.208%+$21 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.070%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.178%, 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	93.320	−0.0071	get 0.0071% / 8h	2h 41m	$21.7M	$49.3M	100x
Short	Bitget CLUSDT	93.372	−0.0134	pay 0.0067% / 4h	2h 41m	$42.1M	$42.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.056%Rate

Funding earned: −$13.23
Price spread: +0.056% → +0.070%: −$1.45
Slippage, 4 orders: −$6.15
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$47.83
Costs to cover: 0.332%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Bitget: 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 Gate live order book, 3 min ago	0.54 bp	8.9 bp −$9	12.8 bp −$128	25.1 bp −$2,506	35.9 bp −$17.9K
Sell Bitget live order book, 3 min ago	0.32 bp	7.2 bp −$7	9.7 bp −$97	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	−0.0499%	1h	93.340	+0.021%	$197K	$372K	15x	as long as short
GRVT CL_USDT_Perp	−0.0338%	4h	93.334	+0.015%	$58K	$649K	25x	as long as short
Aster CLUSD1	−0.0303%	4h	93.390	+0.075%	$24.4M	$66.1M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.382	+0.067%	$283K	$961K	25x	as long as short
Binance CLUSDT	−0.0192%	4h	93.370	+0.054%	$246.7M	$933.2M	100x	as long as short
Variational Omni CL	−0.0184%	4h	93.329	+0.009%	$13.3M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0144%	1h	93.335	+0.016%	$2K	$26K	5x	as long as short
Bitget CLUSDTshort	−0.0134%	4h	93.372	+0.056%	$42.1M	$42.9M	100x
Ondo Perps WTI-USD.P	−0.0126%	1h	93.330	+0.011%	$3.5M	$5.4M	20x	as long as short
Nado WTI-PERP	−0.0123%	1h	93.414	+0.101%	$967K	$618K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDTlong	−0.0071%	8h	93.320	long leg	$21.7M	$49.3M	100x
tradeXYZ xyz:CL	−0.0068%	1h	93.362	+0.045%	$184.5M	$215.5M	20x	as long as short
OKX CL-USDT-SWAP	−0.0063%	4h	93.380	+0.064%	$42.6M	$102.5M	50x	as long as short
edgeX CLUSDC	−0.0058%	4h	93.358	+0.041%	$525K	$305K	30x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	−0.171%	$403K	$929K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.350	+0.032%	$2.3M	$2.2M	10x	as long as short
Paradex CL-USD-PERP	−0.0004%	8h	93.351	+0.033%	$16K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	93.329	+0.010%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.380	+0.064%	$27.1M	$79.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.419	+0.107%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.380	+0.064%	$37K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.373	+0.057%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.925	−0.423%	$5K	—	150x	as long as short
Lighter WTI	+0.0008%	1h	93.368	+0.051%	$11.2M	$9.9M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.420	+0.107%	$2.0M	$17.7M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.340	+0.021%	$739K	$2.9M	40x	as long as short
KuCoin CLUSDTM	+0.0044%	4h	93.386	+0.071%	$7.1M	$2.4M	50x	as long as short
Vest CL-PERP	+0.0046%	1h	93.370	+0.054%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.361	+0.044%	$332K	$576K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.360	+0.043%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.370	+0.054%	$2.1M	$60K	20x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.370	+0.054%	$54K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.344	+0.025%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0176%	4h	93.330	+0.011%	$4.0M	$983K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.57	+9.914%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0234% / S −0.0166%	1h	93.375	+0.059%	$84K	—	111x	as long as short