Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0223%/8h= +24.4% APRpaid last 24h +0.092%

Price spread now: BloFin against Gate+0.043%7-day average +0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs+$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$330.330% of the position

Long on Gate Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.602%+$60 on $10k

Price spread, last 4 days (all we have)−0.237%−$24 · spread now +0.043%, 7d avg +0.054%

Together, before fees+0.365%+$37 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.054%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CL_USDT	93.080	−0.0052	get 0.0052% / 8h	4h 46m	$20.9M	$51.3M	100x
Short	BloFin CL-USDT	93.120	0.0171	get 0.0085% / 4h	46m 41s	$4.0M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.043%Rate

Funding earned: $46.8
Price spread: +0.043% → +0.054%: −$1.09
Slippage, 4 orders: −$6.02
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BloFin: 6 bp × 2 orders: −$12
Net: $12.69
Costs to cover: 0.330%
Break-even: 5.1 days

Slippage from Gate: live order book, 2 min ago; BloFin: live order book, 2 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, 2 min ago	1.08 bp	9.1 bp −$9	12.5 bp −$125	29.8 bp −$2,982	37.8 bp −$18.9K
Sell BloFin live order book, 2 min ago	1.07 bp	7.1 bp −$7	7.4 bp −$74	10.8 bp −$1,082	21.7 bp −$10.8K

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	−0.0501%	1h	93.080	0.000%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0253%	4h	93.120	+0.043%	$24.0M	$67.8M	20x	as long as short
GRVT CL_USDT_Perp	−0.0242%	4h	93.128	+0.051%	$54K	$635K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0196%	1h	93.130	+0.053%	$274K	$872K	25x	as long as short
Binance CLUSDT	−0.0195%	4h	93.110	+0.032%	$244.7M	$951.2M	100x	as long as short
Variational Omni CL	−0.0187%	4h	93.109	+0.031%	$13.5M	$11.3M	—	as long as short
tradeXYZ xyz:CL	−0.0111%	1h	93.099	+0.020%	$184.9M	$216.1M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0101%	1h	93.080	0.000%	$3.5M	$5.6M	20x	as long as short
Aftermath Perps WTIUSD	−0.0080%	1h	93.134	+0.058%	$2K	$27K	5x	as long as short
Bitget CLUSDT	−0.0070%	4h	93.100	+0.021%	$42.0M	$43.8M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAP	−0.0069%	4h	93.110	+0.032%	$42.6M	$102.8M	50x	as long as short
edgeX CLUSDC	−0.0059%	4h	93.128	+0.051%	$530K	$302K	30x	as long as short
Gate CL_USDTlong	−0.0052%	8h	93.080	long leg	$20.9M	$51.3M	100x
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.355%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0043%	1h	93.080	0.000%	$2.5M	$1.7M	10x	as long as short
Extended WTI-USD	−0.0024%	1h	93.150	+0.075%	$2.1M	$21.4M	10x	as long as short
Nado WTI-PERP	−0.0021%	1h	93.159	+0.084%	$963K	$653K	10x	as long as short
Lighter WTI	−0.0016%	1h	93.102	+0.024%	$11.2M	$10.5M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.113	+0.035%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.135	+0.059%	$26.9M	$80.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.189	+0.117%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.180	+0.107%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.110	+0.032%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.679	−0.431%	$5K	—	150x	as long as short
KuCoin CLUSDTM	+0.0002%	4h	93.111	+0.033%	$7.1M	$2.4M	50x	as long as short
Paradex CL-USD-PERP	+0.0015%	8h	93.095	+0.017%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	93.140	+0.064%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.140	+0.064%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.133	+0.057%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.110	+0.032%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0068%	1h	93.109	+0.031%	$329K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.190	+0.118%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.088	+0.009%	$4K	—	10x	as long as short
BloFin CL-USDTshort	+0.0171%	4h	93.120	+0.043%	$4.0M	$1.1M	50x
GMX WTIOIL/USD [ETH-USDC]	L +0.0210% / S −0.0134%	1h	93.115	+0.038%	$79K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.31	+9.918%	$19K	$11K	30x	as long as short