Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0229%/8h= +25.1% APRpaid last 24h +0.076%

Price spread now: BloFin against QFEX+0.021%7-day average −0.005% · 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−$26as in the Price arb table

costs, in and out, $10k−$290.287% of the position

Long on QFEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.268%+$27 on $10k

Price spread, last 4 days (all we have)−0.140%−$14 · spread now +0.021%, 7d avg −0.005%

Together, before fees+0.129%+$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.026% dearer against QFEX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CL-USD	93.160	−0.0033	get 0.0004% / 1h	27m 07s	$2.3M	$1.8M	10x
Short	BloFin CL-USDT	93.180	0.0196	get 0.0098% / 4h	3h 27m	$4.0M	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.021%Rate

Funding earned: $48.12
Price spread: +0.021% → −0.005%: $2.63
Slippage, 4 orders: −$6.7
Fee QFEX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $22.05
Costs to cover: 0.287%
Break-even: 3.8 days

Slippage from QFEX: live order book, 5 min ago; BloFin: live order book, 6 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, 5 min ago	1.61 bp	7.4 bp −$7	7.7 bp −$77	9.3 bp −$928	doesn't fit
Sell BloFin live order book, 6 min ago	0.54 bp	6.5 bp −$7	8.2 bp −$82	12.9 bp −$1,289	28.5 bp −$14.3K

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	93.160	0.000%	$199K	$370K	15x	as long as short
GRVT CL_USDT_Perp	−0.0286%	4h	93.168	+0.009%	$54K	$645K	25x	as long as short
Aster CLUSD1	−0.0262%	4h	93.215	+0.059%	$24.2M	$66.4M	20x	as long as short
Binance CLUSDT	−0.0175%	4h	93.188	+0.030%	$245.5M	$940.6M	100x	as long as short
Variational Omni CL	−0.0156%	4h	93.159	−0.001%	$13.4M	$10.9M	—	as long as short
Bitget CLUSDT	−0.0126%	4h	93.176	+0.017%	$42.0M	$43.2M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0123%	1h	93.110	−0.054%	$3.5M	$5.3M	20x	as long as short
Nado WTI-PERP	−0.0121%	1h	93.242	+0.088%	$964K	$631K	10x	as long as short
Aftermath Perps WTIUSD	−0.0112%	1h	93.189	+0.031%	$2K	$27K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.183	+0.024%	$278K	$953K	25x	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	−0.0059%	8h	93.130	−0.032%	$21.2M	$51.4M	100x	as long as short
edgeX CLUSDC	−0.0056%	4h	93.172	+0.013%	$524K	$307K	30x	as long as short
OKX CL-USDT-SWAP	−0.0046%	4h	93.170	+0.011%	$42.7M	$102.7M	50x	as long as short
tradeXYZ xyz:CL	−0.0040%	1h	93.187	+0.029%	$184.5M	$217.9M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.190	+0.032%	$401K	$927K	15x	as long as short
QFEX CL-USDlong	−0.0033%	1h	93.160	long leg	$2.3M	$1.8M	10x
Paradex CL-USD-PERP	−0.0019%	8h	93.176	+0.018%	$16K	$367	5x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.210	+0.054%	$37K	$41K	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.263	+0.110%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.199	+0.042%	$26.9M	$80.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.244	+0.090%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.189	+0.031%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.749	−0.441%	$5K	—	150x	as long as short
KuCoin CLUSDTM	+0.0004%	4h	93.200	+0.043%	$7.1M	$2.4M	50x	as long as short
Lighter WTI	+0.0024%	1h	93.186	+0.028%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.230	+0.075%	$2.0M	$18.9M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.150	−0.011%	$736K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.210	+0.054%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.186	+0.028%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.186	+0.028%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.181	+0.023%	$331K	$579K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.170	+0.011%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.155	−0.006%	$4K	—	10x	as long as short
BloFin CL-USDTshort	+0.0196%	4h	93.180	+0.021%	$4.0M	$1.0M	50x
Injective WTI/USDC PERP	+0.0220%	1h	102.51	+10.036%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0222% / S −0.0149%	1h	93.185	+0.027%	$81K	—	111x	as long as short