Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0038%/8h= −4.1% APRpaid last 24h −0.002%

Price spread now: Ondo Perps against Bitget−0.053%7-day average −0.066% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.227%+$23 on $10k

Price spread, last 7 days+0.101%+$10 · spread now −0.053%, 7d avg −0.066%

Together, before fees+0.327%+ Points / potential airdropOndo Perps: Active · farm board+$33 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.066%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.227%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CLUSDT	92.929	0	get 0.0000% / 4h	2h 17m	$42.0M	$44.1M	100x
Short	Ondo Perps WTI-USD.P	92.880	−0.0038	pay 0.0005% / 1h	17m 10s	$3.5M	$5.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Bitget. 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 BitgetbpFee Ondo PerpsbpOrdersPrice spread, now −0.053%Rate

Funding earned: −$7.9
Price spread: −0.053% → −0.066%: $1.3
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$23.6
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 2 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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 Bitget live order book, 2 min ago	0.48 bp	7.7 bp −$8	10.5 bp −$105	16.0 bp −$1,599	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CL on 35 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	−0.0503%	1h	92.840	−0.096%	$198K	$365K	15x	as long as short
Aster CLUSD1	−0.0293%	4h	92.970	+0.044%	$24.0M	$72.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0258%	4h	92.840	−0.096%	$53K	$631K	25x	as long as short
Variational Omni CL	−0.0250%	4h	92.718	−0.227%	$13.3M	$11.0M	—	as long as short
Binance CLUSDT	−0.0250%	4h	92.954	+0.026%	$244.7M	$977.4M	100x	as long as short
Gate CL_USDT	−0.0113%	8h	92.900	−0.031%	$20.9M	$53.9M	100x	as long as short
Nado WTI-PERP	−0.0068%	1h	92.989	+0.064%	$965K	$675K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.193%	$402K	$946K	15x	as long as short
tradeXYZ xyz:CL	−0.0048%	1h	92.952	+0.025%	$184.7M	$220.5M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.938	+0.009%	$274K	$884K	25x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps WTI-USD.Pshort	−0.0038%	1h	92.880	−0.053%	$3.5M	$5.7M	20x
QFEX CL-USD	−0.0033%	1h	92.890	−0.042%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0018%	4h	92.930	+0.001%	$42.8M	$105.1M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.911	−0.019%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.944	+0.016%	$26.9M	$82.2M	150x	as long as short
Bitget CLUSDTlong	0.0000%	4h	92.929	long leg	$42.0M	$44.1M	100x
Phoenix WTIOIL	0.0000%	1h	92.920	−0.010%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.894	−0.038%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.417	−0.551%	$5K	—	150x	as long as short
Aftermath Perps WTIUSD	+0.0013%	1h	92.836	−0.100%	$2K	$28K	5x	as long as short
Paradex CL-USD-PERP	+0.0029%	8h	92.929	0.000%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	92.915	−0.015%	$11.2M	$10.4M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.900	−0.031%	$2.1M	$24.3M	10x	as long as short
RISEx CL/USDC	+0.0037%	1h	93.041	+0.121%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.430	−0.537%	$726K	$3.0M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.900	−0.031%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.899	−0.032%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.895	−0.037%	$2.1M	$61K	20x	as long as short
edgeX CLUSDC	+0.0061%	4h	92.816	−0.121%	$528K	$303K	30x	as long as short
KuCoin CLUSDTM	+0.0076%	4h	92.923	−0.006%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.952	+0.025%	$332K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.840	−0.096%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.866	−0.068%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.885	−0.047%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.04	+9.800%	$19K	$11K	30x	as long as short