Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.001%

Price spread now: Bitget against Ondo Perps+0.022%7-day average +0.068% · you sell dearer than you buy

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

Long on Ondo Perps Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.231%−$23 on $10k

Price spread, last 7 days+0.252%+$25 · spread now +0.022%, 7d avg +0.068%

Together, before fees+0.020%+ Points / potential airdropOndo Perps: Active · farm board+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bitget is 0.046% cheaper against Ondo Perps than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.068%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps WTI-USD.P	93.410	−0.0096	get 0.0012% / 1h	18m 10s	$3.5M	$5.4M	20x
Short	Bitget CLUSDT	93.431	−0.0128	pay 0.0064% / 4h	2h 18m	$42.1M	$42.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Ondo Perps. 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 Ondo PerpsbpFee BitgetbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$6.72
Price spread: +0.022% → +0.068%: −$4.56
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$28.28
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Bitget: 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Bitget live order book, 1 min ago	0.64 bp	7.6 bp −$8	9.6 bp −$96	doesn't fit	doesn't fit

Ondo Perps: 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	−0.0499%	1h	93.410	0.000%	$197K	$376K	15x	as long as short
GRVT CL_USDT_Perp	−0.0300%	4h	93.402	−0.008%	$58K	$629K	25x	as long as short
Aster CLUSD1	−0.0292%	4h	93.492	+0.088%	$24.4M	$64.9M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.466	+0.060%	$285K	$958K	25x	as long as short
Binance CLUSDT	−0.0184%	4h	93.463	+0.057%	$246.1M	$932.9M	100x	as long as short
Variational Omni CL	−0.0174%	4h	93.399	−0.012%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0157%	1h	93.452	+0.045%	$2K	$26K	5x	as long as short
Bitget CLUSDTshort	−0.0128%	4h	93.431	+0.022%	$42.1M	$42.8M	100x
Nado WTI-PERP	−0.0125%	1h	93.483	+0.078%	$967K	$615K	10x	as long as short
Ondo Perps WTI-USD.Plong	−0.0096%	1h	93.410	long leg	$3.5M	$5.4M	20x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0077%	8h	93.390	−0.021%	$21.9M	$50.0M	100x	as long as short
tradeXYZ xyz:CL	−0.0070%	1h	93.432	+0.024%	$184.8M	$213.5M	20x	as long as short
OKX CL-USDT-SWAP	−0.0051%	4h	93.450	+0.043%	$42.7M	$102.9M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.500	+0.096%	$404K	$931K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.440	+0.032%	$2.3M	$2.5M	10x	as long as short
edgeX CLUSDC	−0.0010%	4h	93.378	−0.034%	$525K	$306K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	93.495	+0.091%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.471	+0.065%	$27.2M	$79.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.495	+0.091%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.470	+0.064%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.450	+0.043%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.989	−0.451%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0012%	8h	93.441	+0.033%	$16K	$367	5x	as long as short
Lighter WTI	+0.0016%	1h	93.459	+0.052%	$11.2M	$9.9M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.470	+0.064%	$2.0M	$17.0M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.470	+0.064%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.450	+0.043%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.460	+0.053%	$332K	$577K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.440	+0.032%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.447	+0.040%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0076%	4h	93.466	+0.060%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.480	+0.075%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.425	+0.016%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0187%	4h	93.440	+0.032%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.60	+9.842%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0238% / S −0.0171%	1h	93.455	+0.048%	$84K	—	111x	as long as short