Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0054%/8h= +5.9% APRpaid last 24h +0.004%

Price spread now: Bitget against QFEX−0.014%7-day average +0.024% · 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−$310.309% of the position

Long on QFEX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.004%$0 on $10k

Price spread, last 7 days+0.027%+$3 · spread now −0.014%, 7d avg +0.024%

Together, before fees+0.031%+$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.038% cheaper against QFEX than usual: you would sell low and buy high (spread −0.014% now, against its 7-day average of +0.024%). If the spread goes back, that is −$4 on $10k: about 2.3 days of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.004% in total) that is about 31 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CL-USD	92.210	−0.0054	get 0.0007% / 1h	59m 48s	$2.4M	$2.3M	10x
Short	Bitget CLUSDT	92.197	0	get 0.0000% / 4h	3h 59m	$42.0M	$51.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.014%Rate

Funding earned: $11.27
Price spread: −0.014% → +0.024%: −$3.77
Slippage, 4 orders: −$8.85
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$23.35
Costs to cover: 0.309%
Break-even: 21.5 days

Slippage from QFEX: live order book, 3 min ago; Bitget: live order book, 9 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, 3 min ago	2.17 bp	7.2 bp −$7	7.2 bp −$72	8.7 bp −$869	doesn't fit
Sell Bitget live order book, 9 min ago	0.38 bp	7.1 bp −$7	9.0 bp −$90	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
Kraken Futures PF_WTIOILUSD	−0.0449%	1h	92.242	+0.035%	$273K	$1.2M	25x	as long as short
GRVT CL_USDT_Perp	−0.0322%	4h	92.225	+0.016%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0297%	4h	92.230	+0.022%	$23.9M	$77.4M	20x	as long as short
Binance CLUSDT	−0.0222%	4h	92.231	+0.023%	$244.4M	$1.08B	100x	as long as short
Variational Omni CL	−0.0206%	4h	92.193	−0.019%	$13.2M	$12.7M	—	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0183%	1h	92.230	+0.022%	$96K	$189K	15x	as long as short
Nado WTI-PERP	−0.0130%	1h	92.281	+0.077%	$925K	$734K	10x	as long as short
Lighter WTI	−0.0064%	1h	92.221	+0.012%	$11.2M	$10.9M	20x	as long as short
QFEX CL-USDlong	−0.0054%	1h	92.210	long leg	$2.4M	$2.3M	10x
Ondo Perps WTI-USD.P	−0.0051%	1h	92.180	−0.033%	$3.5M	$6.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0034%	8h	92.170	−0.043%	$21.3M	$58.1M	100x	as long as short
Paradex CL-USD-PERP	−0.0031%	8h	92.202	−0.008%	$15K	$367	5x	as long as short
tradeXYZ xyz:CL	−0.0031%	1h	92.248	+0.041%	$186.1M	$267.3M	20x	as long as short
Pacifica CL	−0.0020%	1h	92.220	+0.011%	$333K	$576K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.269	+0.064%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.230	+0.022%	$26.0M	$94.2M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.230	+0.022%	$42.9M	$111.5M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.340	+0.141%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDTshort	0.0000%	4h	92.197	−0.014%	$42.0M	$51.3M	100x
Phoenix WTIOIL	0.0000%	1h	92.300	+0.098%	$37K	$101K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.220	+0.011%	$19K	$241K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	−0.195%	$399K	$962K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.799	−0.446%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	92.270	+0.065%	$2.0M	$26.7M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.230	+0.022%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.270	+0.065%	—	$308K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.230	+0.022%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.212	+0.002%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0085%	4h	92.266	+0.061%	$531K	$326K	30x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.232	+0.024%	$7.3M	$2.2M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.250	+0.043%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.197	−0.014%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0205% / S −0.0130%	1h	92.215	+0.005%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.34	+9.897%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.240	+0.033%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0502%	1h	92.256	+0.050%	$2K	$29K	5x	as long as short