Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0350%/8h= −38.3% APRpaid last 24h −0.062%

Price spread now: Gate against Injective−9.338%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 Gate

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

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Gate is 9.338% cheaper against Injective than usual: you would sell low and buy high (−$934 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective WTI/USDC PERP	102.83	0.0220	pay 0.0028% / 1h	42m 36s	$19K	$11K	30x
Short	Gate CL_USDT	93.230	−0.0130	pay 0.0130% / 8h	42m 36s	$22.9M	$48.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −9.338%Rate

Funding earned: −$73.5
Price spread: −9.338% → 0.000%: −$933.76
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$1,022.28
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Gate: live order book, 1 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 Gate live order book, 1 min ago	0.54 bp	9.5 bp −$10	13.1 bp −$131	28.4 bp −$2,841	35.8 bp −$17.9K

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
Deribit WTIOIL_USDC-PERPETUAL	−0.0607%	1h	93.320	−9.250%	$195K	$392K	15x	as long as short
Aster CLUSD1	−0.0287%	4h	93.308	−9.261%	$24.7M	$64.2M	20x	as long as short
GRVT CL_USDT_Perp	−0.0280%	4h	93.371	−9.201%	$75K	$636K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0209%	1h	93.376	−9.196%	$275K	$939K	25x	as long as short
Binance CLUSDT	−0.0163%	4h	93.276	−9.293%	$247.7M	$917.6M	100x	as long as short
Variational Omni CL	−0.0154%	4h	93.227	−9.341%	$13.4M	$10.6M	—	as long as short
Gate CL_USDTshort	−0.0130%	8h	93.230	−9.338%	$22.9M	$48.9M	100x
Bitget CLUSDT	−0.0122%	4h	93.246	−9.322%	$42.2M	$41.5M	100x	as long as short
Aftermath Perps WTIUSD	−0.0117%	1h	93.375	−9.196%	$2K	$26K	5x	as long as short
Nado WTI-PERP	−0.0086%	1h	93.333	−9.237%	$958K	$624K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0078%	4h	93.257	−9.311%	$524K	$306K	30x	as long as short
OKX CL-USDT-SWAP	−0.0065%	4h	93.260	−9.308%	$42.7M	$102.7M	50x	as long as short
QFEX CL-USD	−0.0038%	1h	93.260	−9.308%	$2.3M	$2.4M	10x	as long as short
Ondo Perps WTI-USD.P	−0.0034%	1h	93.260	−9.308%	$3.6M	$5.3M	20x	as long as short
Lighter WTI	−0.0024%	1h	93.285	−9.284%	$11.3M	$9.1M	20x	as long as short
tradeXYZ xyz:CL	−0.0017%	1h	93.327	−9.243%	$184.4M	$202.4M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	−9.036%	$405K	$810K	15x	as long as short
Paradex CL-USD-PERP	−0.0001%	8h	93.280	−9.289%	$16K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	93.378	−9.194%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.268	−9.301%	$26.8M	$79.0M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.393	−9.179%	$3.0M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.330	−9.240%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.388	−9.184%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.918	−9.641%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0024%	1h	93.340	−9.231%	$1.6M	$15.1M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.430	−9.143%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.280	−9.289%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.254	−9.314%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.358	−9.213%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.307	−9.262%	$348K	$593K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.330	−9.240%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.350	−9.221%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.345	−9.226%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0175%	4h	93.340	−9.231%	$4.0M	$983K	50x	as long as short
Injective WTI/USDC PERPlong	+0.0220%	1h	102.83	long leg	$19K	$11K	30x
GMX WTIOIL/USD [ETH-USDC]	L +0.0253% / S −0.0189%	1h	93.385	−9.187%	$84K	—	111x	as long as short