Settings8H · net · $10k
LanguageThe language of the site
FundingPeriod funding rates are shown in
UnitsPercent or basis points
CostsCount taker fees and slippage in Net
SizePosition per leg used for Net and slippage
ExchangesWhich exchanges to include everywhere
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Funding arb · Price arb / RWA

USO

RWAAll USO markets →
Backtest 30d
LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
ApeX OmniUSOUSDT
145.65+0.0100pay 0.0013% / 1h51m 00s$101K$75K50xLong ApeX Omni5% off
SHORT
BingXNCSKUSO2USD-USDT
145.79+0.0050get 0.0050% / 8h1h 51m$959K$1.7M—Short BingX
Price gap+0.096%
Funding gap−0.0050% /8h

The gap pays +$26 on $10k if it goes back to its 7d average, but funding costs $2 a day and eats that in about 18 days. At the last 7 days' pace that is about 6.6 days.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding−$28−0.0050% /8h now · paid −0.277% over the last 7D
Price+$26spread +0.096% now, avg −0.167% → +0.263% if it goes back
Costs−$1351.354% of $10k · taker + slippage, in and out
Result−$137−1.37%no pointsWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · loading 5m…
PRICE SPREAD · 7D
Now+0.096%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

USO on 6 exchanges

lowest funding first

Before you open

1 ok · 4 to watch
  • Watch: Thin at this size8.1 / 35.5 bp
    At $10k entering BingX costs 35.5 bp, fee and slippage, 4.4× ApeX Omni’s.
  • Note: Margin at max leverage$200 + —
    ApeX Omni 50x, BingX —. Keep about 2× this so a sharp move doesn’t liquidate one leg.
  • Watch: Payment intervals differ1h / 8h
    Payments land at different times. Close right after the slower leg pays.
    Next 24h at the current rates, on $10k a leg: −$1.50Long ApeX Omni: 24 payments, −$3.00; short BingX: 3 payments, +$1.50.
  • OK: Entry gap works for you+0.096% vs −0.167%
    You short the dearer leg. If the gap goes back to average, the short gains.
  • Watch: Long leg is thinner$101K vs $959K OI
    ApeX Omni sets your exit cost. Check its book before closing.
  • Note: No points program—
    Neither exchange runs points right now.
  • Watch: KYCApeX Omni No · BingX Yes
    Advanced KYC to deposit or trade; unverified accounts can only withdraw, up to 20,000 USDT a day. Rules vary by region.

Profit calculator

both legs, in and out
Position, each leg
Hold for
Orders
Price spread
Funding rate
Funding earned−0.0132%/8h × 21 periods−$27.70
Price spread+0.096% → −0.167% (7d avg)+$26.31
Slippage, 4 orderslive order books−$115.36
Fee ApeX Omni bp × 2 orders−$10.00
Fee BingX bp × 2 orders−$10.00
Net · 7 days · $10k−$136.75
Costs to cover1.354%Break-evennever at this rate
Slippage: ApeX Omni: live order book, 8 min ago; BingX: live order book, 20 min ago

Cost to enter

taker + slippage from mid, one side
BUY · LONGApeX Omni3.098.1 bp−$89.1 bp−$91doesn’t fitdoesn’t fit
SELL · SHORTBingX10.2635.5 bp−$35220.9 bp−$2,209609.3 bp−$60.9K971.0 bp−$485.5K

Closing costs about the same again.

Alert

USO news

posts that mention USO or United States Oil Fund, from every exchangeSearch all news →
09-22 14:39ArcusOtherhormuz headlines → crude moved before the open → USO was our most traded commodity perp in 24h 9:30 wasn't invited @arcus_xyz on X ↗