Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0098%/8h= +10.8% APRpaid last 24h −0.014%

Price spread now: Gate against Nado−0.113%7-day average −0.058% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$290.293% of the position

Long on Nado Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.078%−$8 on $10k

Price spread, last 7 days+0.049%+$5 · spread now −0.113%, 7d avg −0.058%

Together, before fees−0.029%+ Points / potential airdropNado: Active · farm board−$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.055% cheaper against Nado than usual: you would sell low and buy high (spread −0.113% now, against its 7-day average of −0.058%). If the spread goes back, that is −$5 on $10k: about 44 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 3 days funding on this pair cost −0.078%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado WTI-PERP	92.294	−0.0131	get 0.0016% / 1h	59m 22s	$925K	$733K	10x
Short	Gate CL_USDT	92.190	−0.0033	pay 0.0033% / 8h	7h 59m	$21.3M	$53.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Nado. 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 NadobpFee GatebpOrdersPrice spread, now −0.113%Rate

Funding earned: $20.65
Price spread: −0.113% → −0.058%: −$5.46
Slippage, 4 orders: −$7.29
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$14.09
Costs to cover: 0.293%
Break-even: 11.8 days

Slippage from Nado: live order book, 14 min ago; Gate: live order book, 5 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 Nado live order book, 14 min ago	0.05 bp	5.9 bp −$6	9.2 bp −$92	31.1 bp −$3,110	doesn't fit
Sell Gate live order book, 5 min ago	0.54 bp	8.9 bp −$9	12.7 bp −$127	28.2 bp −$2,817	36.1 bp −$18.1K

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
GRVT CL_USDT_Perp	−0.0328%	4h	92.193	−0.109%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0299%	4h	92.280	−0.015%	$23.9M	$77.4M	20x	as long as short
Binance CLUSDT	−0.0223%	4h	92.250	−0.048%	$244.5M	$1.08B	100x	as long as short
Variational Omni CL	−0.0206%	4h	92.193	−0.110%	$13.2M	$12.7M	—	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0183%	1h	92.260	−0.037%	$96K	$189K	15x	as long as short
Nado WTI-PERPlong	−0.0131%	1h	92.294	long leg	$925K	$733K	10x
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.278	−0.018%	$273K	$1.2M	25x	as long as short
Lighter WTI	−0.0064%	1h	92.258	−0.039%	$11.2M	$9.9M	20x	as long as short
QFEX CL-USD	−0.0054%	1h	92.240	−0.059%	$2.4M	$2.3M	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.286%	$399K	$962K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDTshort	−0.0033%	8h	92.190	−0.113%	$21.3M	$53.9M	100x
Paradex CL-USD-PERP	−0.0031%	8h	92.224	−0.076%	$15K	$367	5x	as long as short
Ondo Perps WTI-USD.P	−0.0027%	1h	92.180	−0.124%	$3.5M	$6.4M	20x	as long as short
Pacifica CL	−0.0020%	1h	92.246	−0.052%	$353K	$596K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.269	−0.027%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.241	−0.057%	$26.0M	$94.3M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.250	−0.048%	$42.9M	$111.4M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.356	+0.068%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.306	+0.013%	$42.0M	$51.5M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.300	+0.006%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.246	−0.052%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.816	−0.518%	$5K	—	150x	as long as short
tradeXYZ xyz:CL	+0.0008%	1h	92.269	−0.027%	$186.2M	$267.3M	20x	as long as short
edgeX CLUSDC	+0.0021%	4h	92.241	−0.057%	$530K	$326K	30x	as long as short
Extended WTI-USD	+0.0032%	1h	92.290	−0.004%	$2.0M	$26.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.210	−0.091%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.280	−0.015%	—	$308K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.259	−0.038%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.246	−0.052%	$2.0M	$39K	20x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.275	−0.021%	$7.3M	$2.2M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.220	−0.080%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.225	−0.074%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0205% / S −0.0130%	1h	92.255	−0.042%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.34	+9.797%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.240	−0.059%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0514%	1h	92.256	−0.041%	$2K	$29K	5x	as long as short