Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0266%/8h= −29.2% APRpaid last 24h −0.032%

Price spread now: Gate against RISEx−0.187%7-day average −0.112% · 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−$41as in the Price arb table

costs, in and out, $10k−$340.337% of the position

Long on RISEx Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.266%−$27 on $10k

Price spread, last 7 days−0.013%−$1 · spread now −0.187%, 7d avg −0.112%

Together, before fees−0.279%−$28 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Gate is 0.075% cheaper against RISEx than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.112%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx CL/USDC	92.002	0.0266	pay 0.0033% / 1h	12m 16s	$3.2M	$2.7M	20x
Short	Gate CL_USDT	91.830	0	get 0.0000% / 8h	2h 12m	$21.2M	$63.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.187%Rate

Funding earned: −$55.95
Price spread: −0.187% → −0.112%: −$7.46
Slippage, 4 orders: −$12.7
Fee RISEx: 3 bp × 2 orders: −$6
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$97.12
Costs to cover: 0.337%
Break-even: never at this rate

Slippage from RISEx: live order book, 2 min ago; Gate: live order book, 2 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	2.28 bp	5.3 bp −$5	10.0 bp −$100	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	1.09 bp	12.4 bp −$12	18.0 bp −$180	30.0 bp −$3,000	36.0 bp −$18.0K

CL on 35 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
QFEX CL-USD	−0.0019%	1h	91.890	−0.122%	$2.4M	$2.8M	10x	as long as short
Aster CLUSD1	0.0000%	4h	91.959	−0.046%	$24.5M	$77.3M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	91.854	−0.161%	$8K	$3K	5x	as long as short
Binance CLUSDT	0.0000%	4h	91.900	−0.111%	$246.1M	$1.14B	100x	as long as short
Bybit CLUSDT	0.0000%	8h	91.874	−0.139%	$25.1M	$100.0M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	91.870	−0.143%	$42.9M	$116.6M	50x	as long as short
Gate CL_USDTshort	0.0000%	8h	91.830	−0.187%	$21.2M	$63.4M	100x
Bitget CLUSDT	0.0000%	4h	91.870	−0.143%	$42.1M	$67.7M	100x	as long as short
Variational Omni CL	0.0000%	4h	91.911	−0.099%	$13.6M	$16.2M	—	as long as short
GRVT CL_USDT_Perp	0.0000%	4h	91.882	−0.131%	$58K	$782K	25x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet WTIOIL-USD	0.0000%	1h	91.883	−0.129%	$17K	$241K	10x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	0.0000%	1h	91.910	−0.100%	$95K	$267K	15x	as long as short
Aftermath Perps WTIUSD	+0.0001%	1h	91.883	−0.129%	$2K	$31K	5x	as long as short
edgeX CLUSDC	+0.0004%	4h	91.930	−0.078%	$529K	$343K	30x	as long as short
Phoenix WTIOIL	+0.0009%	1h	91.990	−0.013%	$33K	$99K	20x	as long as short
Paradex CL-USD-PERP	+0.0031%	8h	91.887	−0.125%	$15K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	91.854	−0.161%	$11.0M	$12.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	91.974	−0.030%	$2.0M	$29.6M	10x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	91.880	−0.133%	$17K	$18K	30x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0040%	1h	91.910	−0.101%	$257K	$1.3M	25x	as long as short
StandX CL-USD	+0.0040%	1h	91.910	−0.100%	$725K	$3.1M	40x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0040%	1h	92.080	+0.085%	$393K	$1.3M	15x	as long as short
Vest CL-PERP	+0.0046%	1h	92.020	+0.020%	—	$243K	10x	as long as short
tradeXYZ xyz:CL	+0.0050%	1h	91.885	−0.127%	$182.5M	$296.6M	20x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	91.886	−0.126%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	91.889	−0.123%	$2.0M	$39K	20x	as long as short
Ondo Perps WTI-USD.P	+0.0050%	1h	91.850	−0.165%	$3.5M	$6.5M	20x	as long as short
Pacifica CL	+0.0100%	1h	91.872	−0.142%	$334K	$575K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	91.882	−0.130%	$7.3M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	91.930	−0.078%	$55K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.873	−0.140%	$4K	—	10x	as long as short
Nado WTI-PERP	+0.0193%	1h	91.875	−0.138%	$880K	$788K	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0212% / S −0.0127%	1h	91.885	−0.127%	$76K	—	29x	as long as short
BloFin CL-USDT	+0.0240%	4h	91.900	−0.111%	$4.0M	$1.5M	50x	as long as short
RISEx CL/USDClong	+0.0266%	1h	92.002	long leg	$3.2M	$2.7M	20x