Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0176%/8h= −19.3% APRpaid last 24h −0.023%

Price spread now: Bitget against SoDEX−0.009%7-day average +0.010% · 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−$55as in the Price arb table

costs, in and out, $10k−$540.536% of the position

Long on SoDEX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.092%−$9 on $10k

Price spread, last 4 days (all we have)+0.068%+$7 · spread now −0.009%, 7d avg +0.010%

Together, before fees−0.025%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.010%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX CL-USD	93.480	0.0050	pay 0.0006% / 1h	13m 58s	$2.1M	$60K	20x
Short	Bitget CLUSDT	93.472	−0.0126	pay 0.0063% / 4h	2h 13m	$42.2M	$42.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against SoDEX. 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 SoDEXbpFee BitgetbpOrdersPrice spread, now −0.009%Rate

Funding earned: −$36.96
Price spread: −0.009% → +0.010%: −$1.83
Slippage, 4 orders: −$33.61
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$92.4
Costs to cover: 0.536%
Break-even: never at this rate

Slippage from SoDEX: live order book, 5 min ago; Bitget: live order book, 5 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 SoDEX live order book, 5 min ago	1.02 bp	20.0 bp −$20	84.9 bp −$849	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	0.64 bp	7.6 bp −$8	9.6 bp −$96	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
Deribit WTIOIL_USDC-PERPETUAL	−0.0392%	1h	93.450	−0.032%	$197K	$376K	15x	as long as short
GRVT CL_USDT_Perp	−0.0294%	4h	93.442	−0.041%	$58K	$629K	25x	as long as short
Aster CLUSD1	−0.0289%	4h	93.520	+0.043%	$24.4M	$64.8M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.507	+0.029%	$285K	$958K	25x	as long as short
Binance CLUSDT	−0.0181%	4h	93.490	+0.011%	$246.2M	$932.6M	100x	as long as short
Variational Omni CL	−0.0170%	4h	93.440	−0.043%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0153%	1h	93.473	−0.008%	$2K	$26K	5x	as long as short
Bitget CLUSDTshort	−0.0126%	4h	93.472	−0.009%	$42.2M	$42.7M	100x
Nado WTI-PERP	−0.0122%	1h	93.539	+0.063%	$968K	$614K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0086%	1h	93.460	−0.021%	$3.5M	$5.4M	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	−0.0076%	8h	93.430	−0.053%	$22.0M	$50.1M	100x	as long as short
tradeXYZ xyz:CL	−0.0073%	1h	93.468	−0.013%	$184.9M	$213.6M	20x	as long as short
edgeX CLUSDC	−0.0070%	4h	93.441	−0.042%	$525K	$306K	30x	as long as short
OKX CL-USDT-SWAP	−0.0046%	4h	93.480	0.000%	$42.7M	$102.9M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.500	+0.021%	$404K	$931K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.500	+0.021%	$2.3M	$2.5M	10x	as long as short
dYdX WTI-USD	0.0000%	1h	93.495	+0.016%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.505	+0.027%	$27.2M	$79.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.554	+0.079%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.500	+0.021%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.514	+0.037%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.043	−0.467%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0015%	8h	93.475	−0.006%	$16K	$367	5x	as long as short
Lighter WTI	+0.0016%	1h	93.487	+0.007%	$11.2M	$9.9M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.510	+0.032%	$2.0M	$16.9M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.460	−0.021%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.500	+0.021%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.489	+0.010%	$332K	$577K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.500	+0.021%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USDlong	+0.0050%	1h	93.480	long leg	$2.1M	$60K	20x
KuCoin CLUSDTM	+0.0084%	4h	93.508	+0.030%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.520	+0.043%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.465	−0.016%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0190%	4h	93.480	0.000%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.64	+9.804%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0239% / S −0.0172%	1h	93.505	+0.027%	$84K	—	111x	as long as short