Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0036%/8h= −4.0% APRpaid last 24h −0.001%

Price spread now: Bitget against tradeXYZ+0.039%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

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

Long on tradeXYZ Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.113%−$11 on $10k

Price spread, last 7 days−0.024%−$2 · spread now +0.039%, 7d avg +0.018%

Together, before fees−0.137%+ Points / potential airdroptradeXYZ: Active · farm board−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.022% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.039% now, against its 7-day average of +0.018%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 47 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:CL	89.495	−0.0078	get 0.0010% / 1h	48m 50s	$167.4M	$243.9M	20x
Short	Bitget CLUSDT	89.530	−0.0114	pay 0.0057% / 4h	1h 48m	$40.7M	$56.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against tradeXYZ. 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 tradeXYZbpFee BitgetbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$7.66
Price spread: +0.039% → +0.018%: $2.15
Slippage, 4 orders: −$3.74
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$39.25
Costs to cover: 0.337%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 4 min ago; Bitget: live order book, 3 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 tradeXYZ live order book, 4 min ago	0.22 bp	9.2 bp −$9	9.2 bp −$92	10.3 bp −$1,025	doesn't fit
Sell Bitget live order book, 3 min ago	0.50 bp	7.6 bp −$8	9.4 bp −$94	17.5 bp −$1,750	doesn't fit

CL on 36 exchanges

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
Kraken Futures PF_WTIOILUSD	−0.0342%	1h	89.452	−0.048%	$319K	$1.8M	25x	as long as short
Aster CLUSD1	−0.0139%	4h	89.600	+0.117%	$24.3M	$71.4M	20x	as long as short
Bitget CLUSDTshort	−0.0114%	4h	89.530	+0.039%	$40.7M	$56.9M	100x
GRVT CL_USDT_Perp	−0.0110%	4h	89.529	+0.038%	$66K	$632K	25x	as long as short
Ondo Perps WTI-USD.P	−0.0090%	1h	89.400	−0.106%	$3.4M	$6.2M	20x	as long as short
Binance CLUSDT	−0.0090%	4h	89.551	+0.063%	$241.1M	$1.21B	100x	as long as short
tradeXYZ xyz:CLlong	−0.0078%	1h	89.495	long leg	$167.4M	$243.9M	20x
Variational Omni CL	−0.0066%	4h	89.342	−0.171%	$12.6M	$11.3M	—	as long as short
Gate CL_USDT	−0.0063%	8h	89.480	−0.017%	$23.1M	$53.8M	100x	as long as short
Aftermath Perps WTIUSD	−0.0061%	1h	89.487	−0.009%	$1K	$26K	5x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended WTI-USD	−0.0056%	1h	89.540	+0.050%	$1.3M	$14.6M	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	89.320	−0.196%	$408K	$1.5M	15x	as long as short
edgeX CLUSDC	−0.0037%	4h	89.403	−0.103%	$494K	$384K	30x	as long as short
QFEX CL-USD	−0.0025%	1h	89.440	−0.061%	$2.2M	$2.8M	10x	as long as short
OKX CL-USDT-SWAP	−0.0024%	4h	89.510	+0.017%	$39.9M	$132.8M	50x	as long as short
Nado WTI-PERP	−0.0024%	1h	89.459	−0.040%	$872K	$685K	10x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	89.229	−0.297%	$607	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	89.461	−0.038%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	89.540	+0.050%	$26.8M	$109.0M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	89.491	−0.004%	$2.8M	$3.1M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	89.380	−0.128%	$32K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	89.454	−0.046%	$17K	$238K	10x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	0.0000%	1h	89.450	−0.050%	$42K	$654K	15x	as long as short
Paradex CL-USD-PERP	+0.0014%	8h	89.437	−0.065%	$15K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	89.479	−0.018%	$10.5M	$10.4M	20x	as long as short
StandX CL-USD	+0.0040%	1h	89.380	−0.128%	$690K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	89.400	−0.106%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	89.394	−0.113%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	89.451	−0.049%	$2.0M	$84K	20x	as long as short
Pacifica CL	+0.0100%	1h	89.448	−0.053%	$299K	$737K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	89.543	+0.054%	$6.9M	$3.0M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	89.320	−0.196%	$52K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	89.422	−0.081%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0165% / S −0.0005%	1h	89.465	−0.034%	$77K	—	111x	as long as short
BloFin CL-USDT	+0.0215%	4h	89.410	−0.095%	$3.9M	$1.1M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	90.137	+0.717%	$16K	$5K	30x	as long as short