Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0068%/8h= +7.5% APRpaid last 24h +0.003%

Price spread now: Nado against Gate+0.118%50s7-day average +0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$280.277% of the position

Long on Gate Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.079%+$8 on $10k

Price spread, last 7 days−0.050%−$5 · spread now +0.118%, 7d avg +0.059%

Together, before fees+0.029%+ Points / potential airdropNado: Active · farm board+$3 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 Nado is 0.059% dearer against Gate than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.059%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CL_USDT	92.690	−0.0124	get 0.0124% / 8h	6h 23m	$20.8M	$53.6M	100x
Short	Nado WTI-PERP	92.799	−0.0056	pay 0.0007% / 1h	23m 46s	$965K	$677K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.118%Rate

Funding earned: $14.36
Price spread: +0.118% → +0.059%: $5.89
Slippage, 4 orders: −$5.74
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$7.49
Costs to cover: 0.277%
Break-even: 10.7 days

Slippage from Gate: live order book, 5 min ago; Nado: live order book, 45 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, 5 min ago	0.54 bp	9.6 bp −$10	13.8 bp −$138	26.1 bp −$2,612	35.0 bp −$17.5K
Sell Nado live order book, 45 min ago	0.05 bp	4.7 bp −$5	9.2 bp −$92	29.7 bp −$2,974	doesn't fit

CL on 35 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	−0.0720%	1h	92.680	−0.011%	$198K	$365K	15x	as long as short
Aster CLUSD1	−0.0308%	4h	92.752	+0.067%	$23.9M	$73.8M	20x	as long as short
GRVT CL_USDT_Perp	−0.0266%	4h	92.746	+0.060%	$53K	$631K	25x	as long as short
Binance CLUSDT	−0.0259%	4h	92.736	+0.049%	$244.1M	$980.7M	100x	as long as short
Variational Omni CL	−0.0256%	4h	92.710	+0.021%	$13.3M	$11.1M	—	as long as short
Gate CL_USDTlong	−0.0124%	8h	92.690	long leg	$20.8M	$53.6M	100x
Nado WTI-PERPshort	−0.0056%	1h	92.799	+0.118%	$965K	$677K	10x
tradeXYZ xyz:CL	−0.0055%	1h	92.746	+0.060%	$184.3M	$220.4M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	+0.065%	$402K	$946K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0041%	1h	92.720	+0.032%	$3.5M	$5.7M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.772	+0.089%	$270K	$878K	25x	as long as short
QFEX CL-USD	−0.0033%	1h	92.730	+0.043%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0018%	4h	92.720	+0.032%	$42.7M	$105.3M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.757	+0.073%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.750	+0.065%	$26.8M	$82.6M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.731	+0.044%	$41.9M	$44.2M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.770	+0.086%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.736	+0.050%	$17K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.287	−0.435%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0027%	8h	92.719	+0.031%	$16K	$367	5x	as long as short
Aftermath Perps WTIUSD	+0.0027%	1h	92.787	+0.104%	$2K	$28K	5x	as long as short
Lighter WTI	+0.0032%	1h	92.742	+0.056%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.770	+0.086%	$2.1M	$24.7M	10x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.859	+0.182%	$3.3M	$2.7M	20x	as long as short
edgeX CLUSDC	+0.0038%	4h	92.754	+0.069%	$533K	$297K	30x	as long as short
StandX CL-USD	+0.0040%	1h	92.360	−0.356%	$726K	$3.0M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.760	+0.076%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.747	+0.061%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.717	+0.029%	$2.1M	$61K	20x	as long as short
KuCoin CLUSDTM	+0.0074%	4h	92.753	+0.068%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.738	+0.052%	$331K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.770	+0.086%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.705	+0.016%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.725	+0.038%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.83	+9.864%	$19K	$11K	30x	as long as short