Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0566%/8h= −61.9% APRpaid last 24h −0.100%

Price spread now: Deribit against BloFin−0.011%57s7-day average +0.025% · 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−$240.243% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.242%−$24 on $10k

Price spread, last 4 days (all we have)+0.074%+$7 · spread now −0.011%, 7d avg +0.025%

Together, before fees−0.168%−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Deribit is 0.035% cheaper against BloFin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.025%). Swap the legs. The two prices were read 57 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	BloFin CL-USDT	93.100	0.0171	pay 0.0086% / 4h	35m 33s	$4.0M	$1.1M	50x
Short	Deribit WTIOIL_USDC-PERPETUAL	93.090	−0.0394	pay 0.0049% / 1h	35m 33s	$199K	$370K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. 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 BloFinbpFee DeribitbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$118.76
Price spread: −0.011% → +0.025%: −$3.53
Slippage, 4 orders: −$5.3
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$146.59
Costs to cover: 0.243%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Deribit: 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 BloFin live order book, 3 min ago	0.54 bp	6.5 bp −$7	7.1 bp −$71	11.1 bp −$1,114	26.8 bp −$13.4K
Sell Deribit live order book, 23 min ago	0.54 bp	6.2 bp −$6	7.5 bp −$75	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-PERPETUALshort	−0.0394%	1h	93.090	−0.011%	$199K	$370K	15x
Aster CLUSD1	−0.0252%	4h	93.092	−0.008%	$24.0M	$67.3M	20x	as long as short
GRVT CL_USDT_Perp	−0.0246%	4h	93.086	−0.015%	$64K	$648K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0195%	1h	93.145	+0.048%	$274K	$872K	25x	as long as short
Binance CLUSDT	−0.0194%	4h	93.094	−0.006%	$244.7M	$951.8M	100x	as long as short
Variational Omni CL	−0.0187%	4h	93.099	−0.001%	$13.5M	$10.9M	—	as long as short
Ondo Perps WTI-USD.P	−0.0118%	1h	93.060	−0.043%	$3.5M	$5.6M	20x	as long as short
tradeXYZ xyz:CL	−0.0111%	1h	93.071	−0.031%	$184.8M	$215.6M	20x	as long as short
Aftermath Perps WTIUSD	−0.0096%	1h	93.111	+0.012%	$2K	$27K	5x	as long as short
Bitget CLUSDT	−0.0094%	4h	93.074	−0.028%	$41.9M	$43.9M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0092%	4h	93.074	−0.028%	$530K	$300K	30x	as long as short
OKX CL-USDT-SWAP	−0.0070%	4h	93.080	−0.021%	$42.6M	$102.8M	50x	as long as short
Gate CL_USDT	−0.0053%	8h	93.040	−0.064%	$20.9M	$51.7M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.376%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0043%	1h	93.070	−0.032%	$2.5M	$1.7M	10x	as long as short
Nado WTI-PERP	−0.0035%	1h	93.144	+0.047%	$963K	$653K	10x	as long as short
Lighter WTI	−0.0016%	1h	93.092	−0.009%	$11.2M	$10.5M	20x	as long as short
KuCoin CLUSDTM	−0.0014%	4h	93.105	+0.005%	$7.1M	$2.4M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	93.113	+0.014%	$8K	$3K	5x	as long as short
Extended WTI-USD	0.0000%	1h	93.130	+0.032%	$2.0M	$21.1M	10x	as long as short
Bybit CLUSDT	0.0000%	8h	93.090	−0.011%	$26.7M	$80.8M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.164	+0.069%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.130	+0.032%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.118	+0.020%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.679	−0.452%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0012%	8h	93.073	−0.029%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	93.140	+0.043%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.110	+0.011%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.087	−0.014%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.115	+0.016%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0068%	1h	93.091	−0.010%	$329K	$621K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.090	−0.011%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.077	−0.025%	$4K	—	10x	as long as short
BloFin CL-USDTlong	+0.0171%	4h	93.100	long leg	$4.0M	$1.1M	50x
GMX WTIOIL/USD [ETH-USDC]	L +0.0213% / S −0.0140%	1h	93.115	+0.016%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.19	+9.759%	$19K	$11K	30x	as long as short