Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.007%

Price spread now: Gate against tradeXYZ−0.094%7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$380.383% of the position

Long on tradeXYZ Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.284%−$28 on $10k

Price spread, last 7 days+0.034%+$3 · spread now −0.094%, 7d avg −0.052%

Together, before fees−0.250%+ Points / potential airdroptradeXYZ: Active · farm board−$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.042% cheaper against tradeXYZ than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.052%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:CL	93.658	−0.0076	get 0.0009% / 1h	24m 55s	$185.2M	$207.0M	20x
Short	Gate CL_USDT	93.570	−0.0109	pay 0.0109% / 8h	1h 24m	$22.5M	$49.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.094%Rate

Funding earned: −$6.94
Price spread: −0.094% → −0.052%: −$4.24
Slippage, 4 orders: −$5.32
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$49.51
Costs to cover: 0.383%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 5 min ago; Gate: live order book, 4 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, 5 min ago	0.16 bp	9.5 bp −$9	10.7 bp −$107	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	0.54 bp	9.0 bp −$9	12.3 bp −$123	27.3 bp −$2,733	35.0 bp −$17.5K

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	−0.0604%	1h	93.610	−0.051%	$196K	$383K	15x	as long as short
Aster CLUSD1	−0.0273%	4h	93.686	+0.030%	$24.6M	$65.2M	20x	as long as short
GRVT CL_USDT_Perp	−0.0262%	4h	93.658	0.000%	$58K	$618K	25x	as long as short
Binance CLUSDT	−0.0148%	4h	93.660	+0.002%	$247.1M	$916.8M	100x	as long as short
Aftermath Perps WTIUSD	−0.0142%	1h	93.663	+0.006%	$2K	$26K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0137%	1h	93.656	−0.002%	$283K	$960K	25x	as long as short
Variational Omni CL	−0.0136%	4h	93.629	−0.031%	$13.5M	$10.6M	—	as long as short
Ondo Perps WTI-USD.P	−0.0118%	1h	93.600	−0.062%	$3.5M	$5.3M	20x	as long as short
Gate CL_USDTshort	−0.0109%	8h	93.570	−0.094%	$22.5M	$49.4M	100x
Bitget CLUSDT	−0.0102%	4h	93.638	−0.021%	$42.3M	$42.1M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CLlong	−0.0076%	1h	93.658	long leg	$185.2M	$207.0M	20x
Nado WTI-PERP	−0.0055%	1h	93.681	+0.025%	$966K	$620K	10x	as long as short
edgeX CLUSDC	−0.0037%	4h	93.643	−0.016%	$526K	$305K	30x	as long as short
QFEX CL-USD	−0.0023%	1h	93.610	−0.051%	$2.3M	$2.4M	10x	as long as short
OKX CL-USDT-SWAP	−0.0020%	4h	93.650	−0.009%	$43.0M	$101.8M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0008%	1h	93.500	−0.169%	$404K	$916K	15x	as long as short
dYdX WTI-USD	0.0000%	1h	93.729	+0.076%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.670	+0.013%	$27.0M	$79.0M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.710	+0.056%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.730	+0.077%	$37K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.640	−0.019%	$19K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.189	−0.501%	$5K	—	150x	as long as short
Lighter WTI	+0.0016%	1h	93.643	−0.016%	$11.3M	$9.6M	20x	as long as short
Paradex CL-USD-PERP	+0.0022%	8h	93.596	−0.066%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.700	+0.045%	$2.0M	$15.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.680	+0.023%	$742K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.660	+0.002%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.633	−0.027%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.643	−0.016%	$2.1M	$61K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.614	−0.047%	$333K	$574K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.679	+0.022%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.750	+0.098%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.612	−0.049%	$4K	—	10x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.97	+9.946%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0221%	4h	93.640	−0.019%	$4.0M	$971K	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0246% / S −0.0180%	1h	93.695	+0.040%	$84K	—	111x	as long as short