Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.017%

Price spread now: Bullet against RISEx−0.109%7-day average −0.042% · 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−$27as in the Price arb table

costs, in and out, $10k−$210.208% of the position

Long on RISEx Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.116%−$12 on $10k

Price spread, last 3 days (all we have)+0.096%+$10 · spread now −0.109%, 7d avg −0.042%

Together, before fees−0.020%−$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bullet is 0.067% cheaper against RISEx than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx CL/USDC	92.605	0	get 0.0000% / 1h	26m 59s	$3.3M	$2.7M	20x
Short	Bullet WTIOIL-USD	92.504	0	get 0.0000% / 1h	26m 59s	$19K	$241K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against RISEx. 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 RISExbpFee BulletbpOrdersPrice spread, now −0.109%Rate

Funding earned: $0
Price spread: −0.109% → −0.042%: −$6.68
Slippage, 4 orders: −$6.76
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$27.44
Costs to cover: 0.208%
Break-even: never at this rate

Slippage from RISEx: live order book, 2 min ago; Bullet: live order book, 47 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 RISEx live order book, 2 min ago	0.97 bp	4.0 bp −$4	5.1 bp −$51	doesn't fit	doesn't fit
Sell Bullet live order book, 47 min ago	0.54 bp	6.5 bp −$6	17.7 bp −$177	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
GRVT CL_USDT_Perp	−0.0346%	4h	92.450	−0.167%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0332%	4h	92.513	−0.099%	$24.0M	$79.2M	20x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0290%	1h	92.500	−0.113%	$96K	$189K	15x	as long as short
Binance CLUSDT	−0.0270%	4h	92.500	−0.113%	$245.2M	$1.07B	100x	as long as short
Variational Omni CL	−0.0260%	4h	92.441	−0.177%	$13.1M	$12.3M	—	as long as short
Gate CL_USDT	−0.0233%	8h	92.430	−0.188%	$21.3M	$55.1M	100x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.518	−0.093%	$274K	$1.1M	25x	as long as short
Nado WTI-PERP	−0.0069%	1h	92.535	−0.075%	$932K	$732K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0049%	1h	92.410	−0.210%	$3.5M	$6.1M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.620%	$399K	$959K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0040%	1h	92.470	−0.145%	$2.4M	$2.1M	10x	as long as short
tradeXYZ xyz:CL	−0.0026%	1h	92.510	−0.102%	$186.7M	$257.1M	20x	as long as short
Paradex CL-USD-PERP	−0.0009%	8h	92.463	−0.152%	$15K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	92.483	−0.131%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.520	−0.091%	$26.4M	$92.6M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.500	−0.113%	$43.0M	$111.1M	50x	as long as short
RISEx CL/USDClong	0.0000%	1h	92.605	long leg	$3.3M	$2.7M	20x
Bitget CLUSDT	0.0000%	4h	92.497	−0.116%	$42.1M	$50.7M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.500	−0.113%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USDshort	0.0000%	1h	92.504	−0.109%	$19K	$241K	10x
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.067	−0.580%	$5K	—	150x	as long as short
Lighter WTI	+0.0016%	1h	92.511	−0.101%	$11.2M	$10.1M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.540	−0.070%	$2.3M	$26.8M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.370	−0.253%	$722K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.520	−0.091%	—	$310K	10x	as long as short
edgeX CLUSDC	+0.0050%	4h	92.487	−0.127%	$532K	$298K	30x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.504	−0.109%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.503	−0.110%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.491	−0.123%	$356K	$603K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.524	−0.087%	$7.3M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.560	−0.048%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.469	−0.146%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.505	−0.107%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.56	+9.666%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.470	−0.145%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0253%	1h	92.483	−0.131%	$2K	$28K	5x	as long as short