Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0130%/8h= +14.2% APRpaid last 24h +0.025%

Price spread now: Phoenix against Gate+1.029%92s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Gate Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.371%+$37 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Phoenix is 1.029% dearer against Gate than usual: you sell high and buy low: +$103 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 92 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	89.450	−0.0077	get 0.0077% / 8h	5h 57m	$23.1M	$52.8M	100x
Short	Phoenix WTIOIL	90.370	0.0053	get 0.0007% / 1h	57m 46s	$36K	$37K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +1.029%Rate

Funding earned: $27.32
Price spread: +1.029% → 0.000%: $102.85
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $108.17
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Gate: live order book, 4 min ago; Phoenix: no order-book sample. Net counts fees only.

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	0.55 bp	10.0 bp −$10	16.3 bp −$163	32.0 bp −$3,204	38.9 bp −$19.4K
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CL on 36 exchanges

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	−0.0342%	1h	89.452	+0.003%	$322K	$1.8M	25x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0309%	1h	89.410	−0.045%	$133K	$530K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0238%	1h	89.470	+0.022%	$3.4M	$6.1M	20x	as long as short
Aster CLUSD1	−0.0149%	4h	89.557	+0.120%	$24.5M	$70.7M	20x	as long as short
tradeXYZ xyz:CL	−0.0142%	1h	89.578	+0.143%	$170.1M	$243.8M	20x	as long as short
Bitget CLUSDT	−0.0118%	4h	89.556	+0.119%	$40.8M	$55.3M	100x	as long as short
Binance CLUSDT	−0.0103%	4h	89.570	+0.134%	$239.2M	$1.19B	100x	as long as short
Extended WTI-USD	−0.0096%	1h	89.500	+0.056%	$1.3M	$14.7M	10x	as long as short
Variational Omni CL	−0.0081%	4h	90.154	+0.787%	$12.7M	$11.3M	—	as long as short
edgeX CLUSDC	−0.0081%	4h	90.230	+0.872%	$504K	$380K	30x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDTlong	−0.0077%	8h	89.450	long leg	$23.1M	$52.8M	100x
GRVT CL_USDT_Perp	−0.0066%	4h	90.610	+1.296%	$74K	$628K	25x	as long as short
Lighter WTI	−0.0064%	1h	89.593	+0.160%	$10.7M	$10.0M	20x	as long as short
Nado WTI-PERP	−0.0055%	1h	89.647	+0.221%	$868K	$682K	10x	as long as short
Aftermath Perps WTIUSD	−0.0045%	1h	90.047	+0.667%	$1K	$27K	5x	as long as short
OKX CL-USDT-SWAP	−0.0041%	4h	89.580	+0.145%	$39.8M	$129.0M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	89.640	+0.212%	$409K	$1.5M	15x	as long as short
QFEX CL-USD	−0.0025%	1h	89.550	+0.112%	$2.2M	$2.8M	10x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	89.131	−0.357%	$606	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	89.748	+0.333%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	89.570	+0.134%	$27.1M	$107.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	89.582	+0.147%	$2.8M	$3.1M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	89.471	+0.023%	$16K	$238K	10x	as long as short
Paradex CL-USD-PERP	+0.0009%	8h	89.559	+0.122%	$15K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	89.720	+0.302%	$694K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	89.570	+0.134%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	89.526	+0.085%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	89.427	−0.026%	$2.0M	$82K	20x	as long as short
Phoenix WTIOILshort	+0.0053%	1h	90.370	+1.029%	$36K	$37K	20x
Pacifica CL	+0.0100%	1h	89.599	+0.166%	$300K	$729K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	89.528	+0.087%	$6.9M	$3.0M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	90.090	+0.715%	$52K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	89.406	−0.050%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0167% / S +0.0013%	1h	89.655	+0.229%	$72K	—	111x	as long as short
BloFin CL-USDT	+0.0199%	4h	89.640	+0.212%	$3.9M	$1.1M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	90.137	+0.768%	$16K	$5K	30x	as long as short