Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0086%/8h= −9.4% APRpaid last 24h −0.017%

Price spread now: Gate against Ondo Perps+0.011%7-day average −0.006% · you sell dearer than you buy

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

Long on Ondo Perps Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.408%−$41 on $10k

Price spread, last 7 days−0.173%−$17 · spread now +0.011%, 7d avg −0.006%

Together, before fees−0.581%+ Points / potential airdropOndo Perps: Active · farm board−$58 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.006%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps WTI-USD.P	92.690	−0.0043	get 0.0005% / 1h	26m 09s	$3.5M	$5.7M	20x
Short	Gate CL_USDT	92.700	−0.0129	pay 0.0129% / 8h	6h 26m	$20.8M	$53.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.011%Rate

Funding earned: −$18.02
Price spread: +0.011% → −0.006%: $1.71
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$36.3
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Gate: live order book, 3 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 Gate live order book, 3 min ago	0.54 bp	9.3 bp −$9	14.5 bp −$145	26.5 bp −$2,650	33.4 bp −$16.7K

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 35 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	−0.0612%	1h	92.690	0.000%	$198K	$365K	15x	as long as short
Aster CLUSD1	−0.0313%	4h	92.768	+0.085%	$23.9M	$73.9M	20x	as long as short
GRVT CL_USDT_Perp	−0.0268%	4h	92.770	+0.086%	$53K	$631K	25x	as long as short
Binance CLUSDT	−0.0261%	4h	92.720	+0.032%	$244.0M	$983.0M	100x	as long as short
Variational Omni CL	−0.0256%	4h	92.710	+0.021%	$13.3M	$11.1M	—	as long as short
Gate CL_USDTshort	−0.0129%	8h	92.700	+0.011%	$20.8M	$53.5M	100x
tradeXYZ xyz:CL	−0.0057%	1h	92.756	+0.071%	$184.3M	$223.0M	20x	as long as short
Nado WTI-PERP	−0.0052%	1h	92.812	+0.131%	$965K	$678K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	+0.065%	$402K	$946K	15x	as long as short
Ondo Perps WTI-USD.Plong	−0.0043%	1h	92.690	long leg	$3.5M	$5.7M	20x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.772	+0.088%	$271K	$874K	25x	as long as short
QFEX CL-USD	−0.0033%	1h	92.730	+0.043%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0014%	4h	92.720	+0.032%	$42.7M	$105.5M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.757	+0.073%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.750	+0.065%	$26.9M	$82.9M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.729	+0.042%	$41.9M	$44.3M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.770	+0.086%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.757	+0.072%	$17K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.289	−0.433%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0026%	8h	92.741	+0.055%	$16K	$367	5x	as long as short
Aftermath Perps WTIUSD	+0.0030%	1h	92.786	+0.104%	$2K	$28K	5x	as long as short
Lighter WTI	+0.0032%	1h	92.736	+0.050%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.770	+0.086%	$2.1M	$24.8M	10x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.858	+0.181%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.350	−0.367%	$726K	$3.0M	40x	as long as short
edgeX CLUSDC	+0.0041%	4h	92.783	+0.100%	$534K	$296K	30x	as long as short
Vest CL-PERP	+0.0046%	1h	92.780	+0.097%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.752	+0.067%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.725	+0.038%	$2.1M	$61K	20x	as long as short
KuCoin CLUSDTM	+0.0072%	4h	92.749	+0.064%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.760	+0.075%	$331K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.770	+0.086%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.699	+0.010%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.725	+0.038%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.83	+9.864%	$19K	$11K	30x	as long as short