Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0168%/8h= +18.4% APRpaid last 24h +0.054%

Price spread now: BloFin against SoDEX+0.064%56s7-day average −0.001% · 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—prices read too far apart to compare

costs, in and out, $10k−$520.524% of the position

Long on SoDEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.153%+$15 on $10k

Price spread, last 4 days (all we have)−0.041%−$4 · spread now +0.064%, 7d avg −0.001%

Together, before fees+0.112%+$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and BloFin is 0.065% dearer against SoDEX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.001%. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX CL-USD	93.670	0.0050	pay 0.0006% / 1h	48m 01s	$2.1M	$60K	20x
Short	BloFin CL-USDT	93.730	0.0218	get 0.0109% / 4h	1h 48m	$4.0M	$981K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.064%Rate

Funding earned: $35.38
Price spread: +0.064% → −0.001%: $6.52
Slippage, 4 orders: −$32.41
Fee SoDEX: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$10.52
Costs to cover: 0.524%
Break-even: 9.1 days

Slippage from SoDEX: live order book, 1 min ago; BloFin: 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, 1 min ago	1.01 bp	19.9 bp −$20	84.4 bp −$844	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	0.53 bp	6.5 bp −$7	6.5 bp −$65	9.2 bp −$924	28.8 bp −$14.4K

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	−0.0390%	1h	93.650	−0.021%	$197K	$380K	15x	as long as short
Aster CLUSD1	−0.0262%	4h	93.705	+0.038%	$24.5M	$65.1M	20x	as long as short
GRVT CL_USDT_Perp	−0.0248%	4h	93.618	−0.055%	$58K	$629K	25x	as long as short
Binance CLUSDT	−0.0149%	4h	93.660	−0.011%	$246.5M	$928.0M	100x	as long as short
Aftermath Perps WTIUSD	−0.0143%	1h	93.643	−0.028%	$2K	$26K	5x	as long as short
Variational Omni CL	−0.0143%	4h	93.640	−0.033%	$13.5M	$10.7M	—	as long as short
Kraken Futures PF_WTIOILUSD	−0.0137%	1h	93.674	+0.005%	$286K	$953K	25x	as long as short
Bitget CLUSDT	−0.0104%	4h	93.631	−0.042%	$42.2M	$42.6M	100x	as long as short
Gate CL_USDT	−0.0092%	8h	93.590	−0.085%	$22.2M	$48.5M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0050%	1h	93.670	0.000%	$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
tradeXYZ xyz:CL	−0.0042%	1h	93.660	−0.011%	$185.1M	$210.9M	20x	as long as short
QFEX CL-USD	−0.0023%	1h	93.670	0.000%	$2.3M	$2.5M	10x	as long as short
Nado WTI-PERP	−0.0022%	1h	93.733	+0.067%	$966K	$629K	10x	as long as short
OKX CL-USDT-SWAP	−0.0018%	4h	93.670	0.000%	$42.7M	$102.2M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0008%	1h	93.500	−0.181%	$404K	$931K	15x	as long as short
edgeX CLUSDC	−0.0001%	4h	93.623	−0.050%	$526K	$305K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	93.734	+0.068%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.683	+0.014%	$27.3M	$79.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.736	+0.071%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.730	+0.064%	$38K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.680	+0.011%	$18K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.206	−0.495%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0029%	8h	93.688	+0.019%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	93.668	−0.002%	$11.3M	$9.6M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.690	+0.021%	$2.0M	$16.1M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.690	+0.021%	$742K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.690	+0.021%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.680	+0.011%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USDlong	+0.0050%	1h	93.670	long leg	$2.1M	$60K	20x
Pacifica CL	+0.0100%	1h	93.704	+0.036%	$333K	$576K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.668	−0.002%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.690	+0.021%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.655	−0.016%	$4K	—	10x	as long as short
BloFin CL-USDTshort	+0.0218%	4h	93.730	+0.064%	$4.0M	$981K	50x
Injective WTI/USDC PERP	+0.0220%	1h	102.74	+9.687%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0244% / S −0.0178%	1h	93.665	−0.005%	$84K	—	111x	as long as short