Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h +0.035%

Price spread now: SoDEX against Gate+0.044%52s7-day average +0.055% · 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−$580.582% of the position

Long on Gate Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.201%+$20 on $10k

Price spread, last 4 days (all we have)−0.139%−$14 · spread now +0.044%, 7d avg +0.055%

Together, before fees+0.062%+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.055%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate. The two prices were read 52 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	93.290	−0.0074	get 0.0074% / 8h	2h 52m	$21.6M	$49.1M	100x
Short	SoDEX CL-USD	93.331	0.0050	get 0.0006% / 1h	52m 19s	$2.1M	$60K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.044%Rate

Funding earned: $26.04
Price spread: +0.044% → +0.055%: −$1.08
Slippage, 4 orders: −$35.18
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$33.22
Costs to cover: 0.582%
Break-even: 15.9 days

Slippage from Gate: live order book, 2 min ago; SoDEX: 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	0.54 bp	10.3 bp −$10	14.0 bp −$140	27.1 bp −$2,708	33.1 bp −$16.6K
Sell SoDEX live order book, 2 min ago	1.02 bp	19.2 bp −$19	97.5 bp −$975	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	−0.0821%	1h	93.290	0.000%	$197K	$372K	15x	as long as short
GRVT CL_USDT_Perp	−0.0340%	4h	93.316	+0.028%	$58K	$649K	25x	as long as short
Aster CLUSD1	−0.0294%	4h	93.358	+0.073%	$24.3M	$66.5M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.342	+0.056%	$282K	$961K	25x	as long as short
Binance CLUSDT	−0.0197%	4h	93.330	+0.043%	$246.5M	$936.5M	100x	as long as short
Variational Omni CL	−0.0180%	4h	93.309	+0.020%	$13.3M	$10.9M	—	as long as short
Ondo Perps WTI-USD.P	−0.0172%	1h	93.260	−0.032%	$3.5M	$5.3M	20x	as long as short
Aftermath Perps WTIUSD	−0.0137%	1h	93.325	+0.038%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0134%	4h	93.335	+0.048%	$42.1M	$43.1M	100x	as long as short
Nado WTI-PERP	−0.0129%	1h	93.411	+0.129%	$967K	$622K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0083%	1h	93.346	+0.060%	$184.6M	$215.4M	20x	as long as short
edgeX CLUSDC	−0.0077%	4h	93.325	+0.038%	$525K	$305K	30x	as long as short
Gate CL_USDTlong	−0.0074%	8h	93.290	long leg	$21.6M	$49.1M	100x
OKX CL-USDT-SWAP	−0.0068%	4h	93.340	+0.054%	$42.6M	$102.5M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	−0.139%	$403K	$929K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.320	+0.032%	$2.3M	$2.1M	10x	as long as short
Lighter WTI	−0.0016%	1h	93.347	+0.061%	$11.2M	$9.8M	20x	as long as short
Paradex CL-USD-PERP	−0.0012%	8h	93.333	+0.046%	$16K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	93.329	+0.042%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.350	+0.064%	$27.0M	$79.9M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.400	+0.117%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.370	+0.086%	$37K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.342	+0.055%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.893	−0.426%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0024%	1h	93.390	+0.107%	$2.0M	$18.1M	10x	as long as short
KuCoin CLUSDTM	+0.0030%	4h	93.361	+0.076%	$7.1M	$2.4M	50x	as long as short
StandX CL-USD	+0.0040%	1h	93.320	+0.032%	$738K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.350	+0.064%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.352	+0.067%	$331K	$576K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.343	+0.057%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USDshort	+0.0050%	1h	93.331	+0.044%	$2.1M	$60K	20x
ApeX Omni CLUSDT	+0.0100%	1h	93.290	0.000%	$54K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.303	+0.014%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0173%	4h	93.300	+0.011%	$4.0M	$985K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.57	+9.950%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0229% / S −0.0159%	1h	93.335	+0.048%	$82K	—	111x	as long as short