Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0152%/8h= +16.6% APRpaid last 24h +0.023%

Price spread now: SoDEX against Bitget+0.016%49s7-day average −0.009% · you sell dearer than you buy

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−$530.531% of the position

Long on Bitget Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.093%+$9 on $10k

Price spread, last 4 days (all we have)−0.066%−$7 · spread now +0.016%, 7d avg −0.009%

Together, before fees+0.027%+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and SoDEX is 0.025% dearer against Bitget than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.009%. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CLUSDT	93.606	−0.0102	get 0.0051% / 4h	1h 41m	$42.2M	$42.4M	100x
Short	SoDEX CL-USD	93.621	0.0050	get 0.0006% / 1h	41m 31s	$2.1M	$60K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.016%Rate

Funding earned: $31.92
Price spread: +0.016% → −0.009%: $2.52
Slippage, 4 orders: −$33.12
Fee Bitget: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$18.68
Costs to cover: 0.531%
Break-even: 11.1 days

Slippage from Bitget: live order book, 2 min ago; SoDEX: live order book, 2 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 Bitget live order book, 2 min ago	0.43 bp	7.5 bp −$7	9.8 bp −$98	doesn't fit	doesn't fit
Sell SoDEX live order book, 2 min ago	0.53 bp	18.8 bp −$19	97.0 bp −$970	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
Deribit WTIOIL_USDC-PERPETUAL	−0.0498%	1h	93.570	−0.038%	$196K	$381K	15x	as long as short
Aster CLUSD1	−0.0261%	4h	93.630	+0.026%	$24.5M	$65.3M	20x	as long as short
GRVT CL_USDT_Perp	−0.0244%	4h	93.620	+0.015%	$58K	$629K	25x	as long as short
Binance CLUSDT	−0.0145%	4h	93.594	−0.012%	$246.3M	$924.8M	100x	as long as short
Aftermath Perps WTIUSD	−0.0140%	1h	93.627	+0.023%	$2K	$26K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0137%	1h	93.617	+0.012%	$286K	$956K	25x	as long as short
Variational Omni CL	−0.0135%	4h	93.599	−0.008%	$13.5M	$10.7M	—	as long as short
Bitget CLUSDTlong	−0.0102%	4h	93.606	long leg	$42.2M	$42.4M	100x
Gate CL_USDT	−0.0098%	8h	93.510	−0.103%	$22.3M	$48.7M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0086%	1h	93.540	−0.071%	$3.5M	$5.4M	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	−0.0058%	1h	93.625	+0.020%	$185.0M	$211.0M	20x	as long as short
edgeX CLUSDC	−0.0055%	4h	93.649	+0.046%	$526K	$307K	30x	as long as short
Nado WTI-PERP	−0.0037%	1h	93.692	+0.092%	$966K	$627K	10x	as long as short
QFEX CL-USD	−0.0023%	1h	93.590	−0.017%	$2.3M	$2.5M	10x	as long as short
OKX CL-USDT-SWAP	−0.0014%	4h	93.610	+0.004%	$42.6M	$101.8M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0008%	1h	93.500	−0.113%	$404K	$931K	15x	as long as short
dYdX WTI-USD	0.0000%	1h	93.651	+0.048%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.604	−0.002%	$27.0M	$79.4M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.639	+0.036%	$3.1M	$2.8M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.640	+0.036%	$37K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.627	+0.022%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.181	−0.454%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0029%	8h	93.589	−0.018%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	93.589	−0.018%	$11.3M	$9.6M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.630	+0.026%	$2.0M	$16.1M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.680	+0.079%	$742K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.640	+0.036%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.595	−0.012%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USDshort	+0.0050%	1h	93.621	+0.016%	$2.1M	$60K	20x
Pacifica CL	+0.0100%	1h	93.594	−0.013%	$333K	$576K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.633	+0.029%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.680	+0.079%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.583	−0.025%	$4K	—	10x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.74	+9.762%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0226%	4h	93.640	+0.036%	$4.0M	$978K	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0246% / S −0.0179%	1h	93.615	+0.010%	$84K	—	111x	as long as short