Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.043%

Price spread now: Extended against Gate+0.152%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs+$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$260.257% of the position

Long on Gate Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.617%+$62 on $10k

Price spread, last 7 days−0.028%−$3 · spread now +0.152%, 7d avg +0.037%

Together, before fees+0.589%+ Points / potential airdropExtended: Active · farm board+$59 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Extended is 0.115% dearer against Gate than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CL_USDT	91.950	−0.0018	get 0.0018% / 8h	54m 31s	$21.3M	$57.4M	100x
Short	Extended WTI-USD	92.090	0.0032	get 0.0004% / 1h	54m 31s	$2.0M	$27.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.152%Rate

Funding earned: $10.5
Price spread: +0.152% → +0.037%: $11.48
Slippage, 4 orders: −$5.66
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$3.68
Costs to cover: 0.257%
Break-even: 9.5 days

Slippage from Gate: live order book, 4 min ago; Extended: 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 Gate live order book, 4 min ago	0.54 bp	9.7 bp −$10	13.4 bp −$134	29.8 bp −$2,975	38.9 bp −$19.5K
Sell Extended live order book, 5 min ago	0.16 bp	2.8 bp −$3	6.7 bp −$67	23.3 bp −$2,330	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
Kraken Futures PF_WTIOILUSD	−0.0450%	1h	92.080	+0.142%	$275K	$1.2M	25x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0293%	1h	92.080	+0.141%	$96K	$189K	15x	as long as short
GRVT CL_USDT_Perp	−0.0258%	4h	92.068	+0.128%	$58K	$715K	25x	as long as short
Aster CLUSD1	−0.0193%	4h	92.017	+0.073%	$24.0M	$77.6M	20x	as long as short
Lighter WTI	−0.0160%	1h	92.023	+0.079%	$11.1M	$10.9M	20x	as long as short
Nado WTI-PERP	−0.0157%	1h	92.097	+0.160%	$923K	$746K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0122%	1h	91.970	+0.022%	$3.5M	$6.4M	20x	as long as short
Binance CLUSDT	−0.0100%	4h	91.990	+0.044%	$244.4M	$1.11B	100x	as long as short
Paradex CL-USD-PERP	−0.0099%	8h	92.007	+0.062%	$15K	$367	5x	as long as short
tradeXYZ xyz:CL	−0.0098%	1h	92.046	+0.104%	$185.6M	$275.6M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni CL	−0.0071%	4h	92.063	+0.122%	$13.4M	$13.3M	—	as long as short
Bullet WTIOIL-USD	−0.0060%	1h	92.052	+0.111%	$19K	$241K	10x	as long as short
QFEX CL-USD	−0.0054%	1h	91.980	+0.033%	$2.4M	$2.6M	10x	as long as short
Pacifica CL	−0.0020%	1h	92.040	+0.098%	$332K	$578K	10x	as long as short
Gate CL_USDTlong	−0.0018%	8h	91.950	long leg	$21.3M	$57.4M	100x
dYdX WTI-USD	0.0000%	1h	92.108	+0.171%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.000	+0.054%	$25.5M	$95.0M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	91.980	+0.033%	$43.1M	$113.2M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.114	+0.178%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.001	+0.055%	$42.0M	$52.2M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	+0.087%	$399K	$998K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.653	−0.323%	$4K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.160	+0.228%	$37K	$101K	20x	as long as short
Aftermath Perps WTIUSD	+0.0019%	1h	92.108	+0.172%	$2K	$29K	5x	as long as short
Extended WTI-USDshort	+0.0032%	1h	92.090	+0.152%	$2.0M	$27.6M	10x
StandX CL-USD	+0.0040%	1h	92.050	+0.109%	$724K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.120	+0.185%	—	$308K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0046%	1h	92.063	+0.123%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.056	+0.115%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0081%	4h	92.109	+0.173%	$530K	$334K	30x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.070	+0.131%	$7.2M	$2.0M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.150	+0.218%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.036	+0.094%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	92.055	+0.114%	$76K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.28	+10.141%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.080	+0.141%	$4.0M	$1.4M	50x	as long as short