Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0126%/8h= −13.8% APRpaid last 24h −0.019%

Price spread now: Binance against QFEX+0.012%7-day average +0.034% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$270.267% of the position

Long on QFEX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.012%+$1 on $10k

Price spread, last 7 days+0.005%$0 · spread now +0.012%, 7d avg +0.034%

Together, before fees+0.017%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Binance is 0.022% cheaper against QFEX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.034%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CL-USD	93.170	−0.0038	get 0.0005% / 1h	40m 31s	$2.3M	$2.4M	10x
Short	Binance CLUSDT	93.182	−0.0164	pay 0.0082% / 4h	40m 31s	$246.8M	$918.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.012%Rate

Funding earned: −$26.47
Price spread: +0.012% → +0.034%: −$2.19
Slippage, 4 orders: −$6.69
Fee QFEX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$55.35
Costs to cover: 0.267%
Break-even: never at this rate

Slippage from QFEX: live order book, 2 min ago; Binance: 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, 2 min ago	1.61 bp	8.2 bp −$8	8.7 bp −$87	10.1 bp −$1,006	doesn't fit
Sell Binance live order book, 3 min ago	0.54 bp	5.5 bp −$6	5.5 bp −$55	8.2 bp −$824	23.1 bp −$11.6K

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	0.000%	$195K	$392K	15x	as long as short
Aster CLUSD1	−0.0287%	4h	93.215	+0.048%	$24.7M	$64.2M	20x	as long as short
GRVT CL_USDT_Perp	−0.0280%	4h	93.371	+0.216%	$75K	$636K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0209%	1h	93.194	+0.026%	$275K	$939K	25x	as long as short
Binance CLUSDTshort	−0.0164%	4h	93.182	+0.012%	$246.8M	$918.7M	100x
Variational Omni CL	−0.0151%	4h	93.187	+0.018%	$13.4M	$10.6M	—	as long as short
Gate CL_USDT	−0.0129%	8h	93.100	−0.075%	$22.9M	$49.0M	100x	as long as short
Bitget CLUSDT	−0.0124%	4h	93.162	−0.009%	$42.2M	$41.5M	100x	as long as short
Aftermath Perps WTIUSD	−0.0114%	1h	93.332	+0.174%	$2K	$26K	5x	as long as short
edgeX CLUSDC	−0.0090%	4h	93.372	+0.217%	$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	−0.0087%	1h	93.228	+0.062%	$957K	$624K	10x	as long as short
OKX CL-USDT-SWAP	−0.0064%	4h	93.150	−0.021%	$42.7M	$102.7M	50x	as long as short
QFEX CL-USDlong	−0.0038%	1h	93.170	long leg	$2.3M	$2.4M	10x
Ondo Perps WTI-USD.P	−0.0030%	1h	93.140	−0.032%	$3.6M	$5.3M	20x	as long as short
tradeXYZ xyz:CL	−0.0024%	1h	93.172	+0.002%	$184.1M	$202.4M	20x	as long as short
Lighter WTI	−0.0024%	1h	93.164	−0.006%	$11.2M	$9.1M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.397%	$405K	$810K	15x	as long as short
Paradex CL-USD-PERP	−0.0002%	8h	93.148	−0.024%	$16K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	93.176	+0.007%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.178	+0.009%	$26.7M	$79.2M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.213	+0.047%	$3.0M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.410	+0.258%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.216	+0.049%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.705	−0.499%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0016%	1h	93.210	+0.043%	$1.6M	$15.0M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.270	+0.107%	$739K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.200	+0.032%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.181	+0.012%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.190	+0.021%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.173	+0.003%	$348K	$593K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.189	+0.020%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.350	+0.193%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.177	+0.008%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0175%	4h	93.200	+0.032%	$4.0M	$982K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.83	+10.370%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0254% / S −0.0189%	1h	93.145	−0.027%	$83K	—	111x	as long as short