Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0251%/8h= −27.4% APRpaid last 24h −0.032%

Price spread now: Aster against QFEX−0.011%7-day average +0.035% · 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−$30as in the Price arb table

costs, in and out, $10k−$250.252% of the position

Long on QFEX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 7 days+0.034%+$3 · spread now −0.011%, 7d avg +0.035%

Together, before fees+0.035%+ Points / potential airdropAster: Stage 5 · farm board+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Aster is 0.046% cheaper against QFEX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.035%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.000% in total (about 0.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CL-USD	93.200	−0.0038	get 0.0005% / 1h	40m 54s	$2.3M	$2.4M	10x
Short	Aster CLUSD1	93.190	−0.0288	pay 0.0144% / 4h	40m 54s	$24.7M	$64.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against QFEX. 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 QFEXbpFee AsterbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$52.62
Price spread: −0.011% → +0.035%: −$4.58
Slippage, 4 orders: −$7.24
Fee QFEX: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$82.43
Costs to cover: 0.252%
Break-even: never at this rate

Slippage from QFEX: live order book, 7 min ago; Aster: live order book, 3 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 QFEX live order book, 7 min ago	2.68 bp	8.5 bp −$8	8.7 bp −$87	10.3 bp −$1,034	doesn't fit
Sell Aster live order book, 3 min ago	0.54 bp	4.5 bp −$5	4.5 bp −$45	doesn't fit	doesn't fit

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	−0.0501%	1h	93.170	−0.032%	$195K	$392K	15x	as long as short
Aster CLUSD1short	−0.0288%	4h	93.190	−0.011%	$24.7M	$64.2M	20x
GRVT CL_USDT_Perp	−0.0280%	4h	93.371	+0.183%	$75K	$636K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0209%	1h	93.194	−0.006%	$275K	$939K	25x	as long as short
Binance CLUSDT	−0.0163%	4h	93.170	−0.032%	$246.8M	$919.1M	100x	as long as short
Variational Omni CL	−0.0151%	4h	93.187	−0.014%	$13.4M	$10.6M	—	as long as short
Gate CL_USDT	−0.0130%	8h	93.110	−0.097%	$22.9M	$49.0M	100x	as long as short
Bitget CLUSDT	−0.0124%	4h	93.159	−0.044%	$42.2M	$41.5M	100x	as long as short
Aftermath Perps WTIUSD	−0.0114%	1h	93.332	+0.142%	$2K	$26K	5x	as long as short
edgeX CLUSDC	−0.0090%	4h	93.372	+0.185%	$525K	$304K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado WTI-PERP	−0.0085%	1h	93.261	+0.066%	$957K	$624K	10x	as long as short
OKX CL-USDT-SWAP	−0.0064%	4h	93.150	−0.054%	$42.7M	$102.7M	50x	as long as short
QFEX CL-USDlong	−0.0038%	1h	93.200	long leg	$2.3M	$2.4M	10x
Ondo Perps WTI-USD.P	−0.0030%	1h	93.190	−0.011%	$3.6M	$5.3M	20x	as long as short
Lighter WTI	−0.0024%	1h	93.142	−0.062%	$11.2M	$9.1M	20x	as long as short
tradeXYZ xyz:CL	−0.0023%	1h	93.193	−0.008%	$184.1M	$202.4M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.365%	$405K	$810K	15x	as long as short
Paradex CL-USD-PERP	−0.0001%	8h	93.192	−0.009%	$16K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	93.281	+0.087%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.165	−0.038%	$26.7M	$79.2M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.244	+0.047%	$3.0M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.410	+0.225%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.216	+0.017%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.705	−0.531%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0016%	1h	93.220	+0.021%	$1.6M	$15.0M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.430	+0.247%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.230	+0.032%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.194	−0.006%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.190	−0.011%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.224	+0.026%	$348K	$593K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.194	−0.006%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.350	+0.161%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.177	−0.024%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0175%	4h	93.200	0.000%	$4.0M	$982K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.83	+10.335%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0254% / S −0.0189%	1h	93.145	−0.059%	$83K	—	111x	as long as short