Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0318%/8h= +34.8% APRpaid last 24h +0.025%

Price spread now: Bullet against Aster−0.050%53s7-day average −0.001% · 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—prices read too far apart to compare

costs, in and out, $10k−$220.219% of the position

Long on Aster Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.019%+$2 on $10k

Price spread, last 3 days (all we have)+0.067%+$7 · spread now −0.050%, 7d avg −0.001%

Together, before fees+0.086%+ Points / potential airdropAster: Stage 5 · farm board+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bullet is 0.049% cheaper against Aster than usual: you would sell low and buy high (spread −0.050% now, against its 7-day average of −0.001%). If the spread goes back, that is −$5 on $10k: about 12 hours of funding at the current rate (+$10 a day). At the pace of the last 3 days (+0.019% in total) that is about 8.2 days. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.019% in total (about 2.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster CLUSD1	92.164	−0.0318	get 0.0159% / 4h	3h 50m	$23.8M	$79.2M	20x
Short	Bullet WTIOIL-USD	92.118	0	get 0.0000% / 1h	50m 30s	$19K	$241K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Aster. 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 AsterbpFee BulletbpOrdersPrice spread, now −0.050%Rate

Funding earned: $66.73
Price spread: −0.050% → −0.001%: −$4.9
Slippage, 4 orders: −$5.9
Fee Aster: 4 bp × 2 orders: −$8
Fee Bullet: 4 bp × 2 orders: −$8
Net: $39.94
Costs to cover: 0.219%
Break-even: 2.8 days

Slippage from Aster: live order book, 4 min ago; Bullet: live order book, 23 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 Aster live order book, 4 min ago	0.54 bp	4.5 bp −$5	4.5 bp −$45	doesn't fit	doesn't fit
Sell Bullet live order book, 23 min ago	0.54 bp	6.5 bp −$6	17.7 bp −$177	doesn't fit	doesn't fit

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
GRVT CL_USDT_Perp	−0.0536%	4h	92.166	+0.002%	$58K	$693K	25x	as long as short
Aster CLUSD1long	−0.0318%	4h	92.164	long leg	$23.8M	$79.2M	20x
Gate CL_USDT	−0.0276%	8h	92.090	−0.080%	$21.3M	$54.3M	100x	as long as short
Binance CLUSDT	−0.0248%	4h	92.150	−0.015%	$245.1M	$1.08B	100x	as long as short
Variational Omni CL	−0.0236%	4h	92.101	−0.069%	$13.2M	$12.7M	—	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0184%	1h	92.150	−0.015%	$96K	$189K	15x	as long as short
Bybit CLUSDT	−0.0150%	8h	92.151	−0.014%	$26.0M	$93.8M	150x	as long as short
Nado WTI-PERP	−0.0125%	1h	92.221	+0.062%	$923K	$732K	10x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.161	−0.003%	$273K	$1.2M	25x	as long as short
Ondo Perps WTI-USD.P	−0.0095%	1h	92.180	+0.017%	$3.5M	$6.2M	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	−0.0062%	1h	92.166	+0.002%	$186.2M	$261.6M	20x	as long as short
Lighter WTI	−0.0040%	1h	92.140	−0.026%	$11.2M	$9.9M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.145%	$399K	$960K	15x	as long as short
QFEX CL-USD	−0.0040%	1h	92.150	−0.015%	$2.4M	$2.2M	10x	as long as short
Paradex CL-USD-PERP	−0.0034%	8h	92.141	−0.025%	$15K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	92.235	+0.077%	$8K	$3K	5x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.120	−0.048%	$42.8M	$111.2M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.279	+0.125%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.142	−0.024%	$41.9M	$51.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.260	+0.104%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USDshort	0.0000%	1h	92.118	−0.050%	$19K	$241K	10x
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.707	−0.496%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	92.210	+0.050%	$2.0M	$26.7M	10x	as long as short
edgeX CLUSDC	+0.0036%	4h	92.162	−0.002%	$530K	$306K	30x	as long as short
StandX CL-USD	+0.0040%	1h	92.130	−0.037%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.210	+0.050%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.165	+0.001%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.125	−0.042%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.143	−0.023%	$353K	$596K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.192	+0.030%	$7.2M	$2.3M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.240	+0.082%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.143	−0.023%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.125	−0.042%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.38	+10.002%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.100	−0.069%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0435%	1h	92.171	+0.008%	$2K	$29K	5x	as long as short