Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.029%

Price spread now: BloFin against Injective−8.994%7-day average — · you buy dearer than you sell

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

Long on Injective Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. BloFin is 8.994% cheaper against Injective than usual: you would sell low and buy high (spread −8.994% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$899 on $10k: about 15 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective WTI/USDC PERP	100.99	0.0172	pay 0.0022% / 1h	27m 02s	$19K	$18K	30x
Short	BloFin CL-USDT	91.910	0.0240	get 0.0120% / 4h	1h 27m	$4.0M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Injective. 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 InjectivebpFee BloFinbpOrdersPrice spread, now −8.994%Rate

Funding earned: $14.26
Price spread: −8.994% → 0.000%: −$899.37
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$897.13
Costs to cover: 0.120%
Break-even: 447.5 days

Slippage unknown: Injective: no order-book sample; BloFin: live order book, 6 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell BloFin live order book, 6 min ago	0.54 bp	6.5 bp −$7	8.2 bp −$82	13.2 bp −$1,315	29.5 bp −$14.7K

Injective: 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 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
Lighter WTI	−0.0320%	1h	91.863	−9.040%	$11.0M	$11.2M	20x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0294%	1h	91.910	−8.994%	$95K	$260K	15x	as long as short
Aftermath Perps WTIUSD	−0.0204%	1h	91.932	−8.972%	$2K	$30K	5x	as long as short
Nado WTI-PERP	−0.0182%	1h	91.962	−8.942%	$923K	$748K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0182%	1h	91.860	−9.043%	$3.5M	$6.4M	20x	as long as short
tradeXYZ xyz:CL	−0.0157%	1h	91.918	−8.986%	$184.9M	$284.1M	20x	as long as short
Bullet WTIOIL-USD	−0.0143%	1h	91.882	−9.021%	$18K	$240K	10x	as long as short
GRVT CL_USDT_Perp	−0.0114%	4h	91.887	−9.017%	$58K	$726K	25x	as long as short
Paradex CL-USD-PERP	−0.0105%	8h	91.877	−9.026%	$15K	$367	5x	as long as short
Aster CLUSD1	−0.0077%	4h	91.910	−8.994%	$23.9M	$78.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps WTIOIL-USD	−0.0019%	1h	91.889	−9.014%	$1.6M	$1.4M	20x	as long as short
Extended WTI-USD	−0.0016%	1h	91.950	−8.954%	$2.0M	$29.1M	10x	as long as short
StandX CL-USD	−0.0002%	1h	91.890	−9.013%	$722K	$3.1M	40x	as long as short
dYdX WTI-USD	0.0000%	1h	91.939	−8.965%	$8K	$3K	5x	as long as short
Binance CLUSDT	0.0000%	4h	91.891	−9.012%	$245.4M	$1.12B	100x	as long as short
Bybit CLUSDT	0.0000%	8h	91.910	−8.994%	$25.3M	$97.3M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	91.890	−9.013%	$43.1M	$113.9M	50x	as long as short
QFEX CL-USD	0.0000%	1h	91.890	−9.013%	$2.4M	$2.6M	10x	as long as short
Gate CL_USDT	0.0000%	8h	91.830	−9.073%	$21.2M	$59.1M	100x	as long as short
Bitget CLUSDT	0.0000%	4h	91.888	−9.015%	$42.0M	$53.9M	100x	as long as short
Variational Omni CL	0.0000%	4h	91.884	−9.020%	$13.4M	$13.6M	—	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.475	−9.424%	$4K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	91.970	−8.934%	$37K	$99K	20x	as long as short
edgeX CLUSDC	+0.0013%	4h	91.933	−8.971%	$529K	$340K	30x	as long as short
Vest CL-PERP	+0.0046%	1h	92.000	−8.905%	—	$243K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	91.895	−9.009%	$2.0M	$39K	20x	as long as short
ApeX Omni CLUSDT	+0.0065%	1h	91.870	−9.033%	$55K	$266K	50x	as long as short
Pacifica CL	+0.0100%	1h	91.897	−9.006%	$332K	$579K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	91.902	−9.002%	$7.3M	$2.1M	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.873	−9.031%	$4K	—	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0112%	1h	91.920	−8.984%	$397K	$1.2M	15x	as long as short
Injective WTI/USDC PERPlong	+0.0172%	1h	100.99	long leg	$19K	$18K	30x
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	91.885	−9.018%	$76K	—	111x	as long as short
BloFin CL-USDTshort	+0.0240%	4h	91.910	−8.994%	$4.0M	$1.5M	50x
Kraken Futures PF_WTIOILUSD	+0.0451%	1h	91.912	−8.992%	$260K	$1.2M	25x	as long as short
RISEx CL/USDC	+0.0977%	1h	92.012	−8.893%	$3.2M	$2.8M	20x	as long as short