Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0107%/8h= −11.7% APRpaid last 24h −0.035%

Price spread now: Gate against SoDEX−0.060%7-day average −0.055% · 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−$59as in the Price arb table

costs, in and out, $10k−$580.584% of the position

Long on SoDEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.201%−$20 on $10k

Price spread, last 4 days (all we have)+0.155%+$16 · spread now −0.060%, 7d avg −0.055%

Together, before fees−0.045%−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.055%, so right now this pair is about funding alone: −$3 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	93.176	0.0050	pay 0.0006% / 1h	28m 47s	$2.1M	$60K	20x
Short	Gate CL_USDT	93.120	−0.0057	pay 0.0057% / 8h	3h 28m	$21.2M	$51.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.060%Rate

Funding earned: −$22.47
Price spread: −0.060% → −0.055%: −$0.54
Slippage, 4 orders: −$35.37
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$81.38
Costs to cover: 0.584%
Break-even: never at this rate

Slippage from SoDEX: live order book, 5 min ago; Gate: 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	19.4 bp −$19	84.0 bp −$840	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	0.54 bp	9.6 bp −$10	13.4 bp −$134	27.0 bp −$2,699	37.9 bp −$18.9K

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	−0.0715%	1h	93.130	−0.049%	$199K	$370K	15x	as long as short
GRVT CL_USDT_Perp	−0.0274%	4h	93.161	−0.017%	$54K	$645K	25x	as long as short
Aster CLUSD1	−0.0261%	4h	93.210	+0.036%	$24.2M	$66.6M	20x	as long as short
Binance CLUSDT	−0.0174%	4h	93.174	−0.002%	$245.5M	$941.0M	100x	as long as short
Variational Omni CL	−0.0156%	4h	93.159	−0.019%	$13.4M	$10.9M	—	as long as short
Bitget CLUSDT	−0.0126%	4h	93.163	−0.014%	$41.9M	$43.2M	100x	as long as short
Nado WTI-PERP	−0.0122%	1h	93.231	+0.059%	$964K	$631K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0118%	1h	93.220	+0.047%	$3.5M	$5.4M	20x	as long as short
Aftermath Perps WTIUSD	−0.0112%	1h	93.225	+0.052%	$2K	$27K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.176	0.000%	$278K	$958K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDTshort	−0.0057%	8h	93.120	−0.060%	$21.2M	$51.4M	100x
edgeX CLUSDC	−0.0049%	4h	93.216	+0.043%	$524K	$307K	30x	as long as short
OKX CL-USDT-SWAP	−0.0042%	4h	93.170	−0.006%	$42.7M	$102.8M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.190	+0.015%	$401K	$927K	15x	as long as short
tradeXYZ xyz:CL	−0.0036%	1h	93.157	−0.020%	$184.4M	$217.9M	20x	as long as short
QFEX CL-USD	−0.0033%	1h	93.170	−0.006%	$2.3M	$1.8M	10x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.210	+0.036%	$37K	$41K	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.263	+0.093%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.190	+0.015%	$26.9M	$80.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.248	+0.077%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.187	+0.012%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.734	−0.474%	$5K	—	150x	as long as short
KuCoin CLUSDTM	+0.0004%	4h	93.206	+0.032%	$7.1M	$2.4M	50x	as long as short
Paradex CL-USD-PERP	+0.0015%	8h	93.218	+0.045%	$16K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	93.180	+0.004%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.220	+0.047%	$2.0M	$19.0M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.140	−0.039%	$736K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.190	+0.015%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.178	+0.002%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USDlong	+0.0050%	1h	93.176	long leg	$2.1M	$60K	20x
Pacifica CL	+0.0100%	1h	93.170	−0.006%	$331K	$579K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.170	−0.006%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.161	−0.016%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0200%	4h	93.160	−0.017%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.51	+10.018%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0221% / S −0.0149%	1h	93.175	−0.001%	$81K	—	111x	as long as short