Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0011%/8h= −1.2% APRpaid last 24h −0.014%

Price spread now: Gate against QFEX−0.032%7-day average −0.048% · 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−$32as in the Price arb table

costs, in and out, $10k−$330.332% of the position

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.126%−$13 on $10k

Price spread, last 7 days−0.050%−$5 · spread now −0.032%, 7d avg −0.048%

Together, before fees−0.177%−$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.048%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CL-USD	93.020	−0.0033	get 0.0004% / 1h	55m 27s	$2.3M	$1.8M	10x
Short	Gate CL_USDT	92.990	−0.0044	pay 0.0044% / 8h	3h 55m	$20.9M	$50.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.032%Rate

Funding earned: −$2.37
Price spread: −0.032% → −0.048%: $1.6
Slippage, 4 orders: −$8.17
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$33.94
Costs to cover: 0.332%
Break-even: never at this rate

Slippage from QFEX: live order book, 2 min ago; Gate: 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	7.4 bp −$7	7.7 bp −$77	9.2 bp −$918	doesn't fit
Sell Gate live order book, 3 min ago	0.54 bp	9.7 bp −$10	15.9 bp −$159	28.6 bp −$2,861	38.2 bp −$19.1K

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	−0.0287%	1h	93.020	0.000%	$198K	$370K	15x	as long as short
Aster CLUSD1	−0.0267%	4h	93.060	+0.043%	$24.1M	$66.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0186%	4h	93.024	+0.004%	$54K	$658K	25x	as long as short
Binance CLUSDT	−0.0177%	4h	93.030	+0.011%	$245.0M	$944.6M	100x	as long as short
Variational Omni CL	−0.0168%	4h	93.019	−0.001%	$13.5M	$10.8M	—	as long as short
Bitget CLUSDT	−0.0128%	4h	93.020	0.000%	$42.0M	$43.3M	100x	as long as short
Aftermath Perps WTIUSD	−0.0108%	1h	93.006	−0.015%	$2K	$27K	5x	as long as short
Nado WTI-PERP	−0.0108%	1h	93.105	+0.092%	$964K	$647K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0080%	1h	93.000	−0.022%	$3.5M	$5.4M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.043	+0.024%	$268K	$934K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0060%	4h	93.018	−0.002%	$526K	$303K	30x	as long as short
OKX CL-USDT-SWAP	−0.0047%	4h	93.050	+0.032%	$42.6M	$102.7M	50x	as long as short
Gate CL_USDTshort	−0.0044%	8h	92.990	−0.032%	$20.9M	$50.6M	100x
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.930	−0.097%	$399K	$948K	15x	as long as short
QFEX CL-USDlong	−0.0033%	1h	93.020	long leg	$2.3M	$1.8M	10x
KuCoin CLUSDTM	−0.0020%	4h	93.056	+0.039%	$7.1M	$2.4M	50x	as long as short
tradeXYZ xyz:CL	−0.0013%	1h	93.039	+0.020%	$184.6M	$219.8M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.030	+0.011%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.040	+0.022%	$26.5M	$80.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.117	+0.104%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.070	+0.054%	$37K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.036	+0.017%	$19K	$243K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.591	−0.461%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0007%	8h	93.037	+0.019%	$16K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	93.043	+0.025%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.080	+0.065%	$2.0M	$19.9M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.020	0.000%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.050	+0.032%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.036	+0.017%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.035	+0.016%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.051	+0.033%	$330K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.030	+0.011%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.004	−0.017%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0190%	4h	93.070	+0.054%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0218% / S −0.0146%	1h	93.035	+0.016%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.17	+9.832%	$19K	$11K	30x	as long as short