Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0024%/8h= +2.6% APRpaid last 24h +0.004%

Price spread now: Paradex against Bullet+0.103%7-day average — · you sell dearer than you buy

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

Long on Bullet Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Paradex is 0.103% dearer against Bullet than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet WTIOIL-USD	89.804	0	get 0.0000% / 1h	55m 36s	$17K	$235K	10x
Short	Paradex CL-USD-PERP	89.897	0.0024	get 0.0024% / 8h	4h 55m	$15K	$458	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Bullet. 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 BulletbpFee ParadexbpOrdersPrice spread, now +0.103%Rate

Funding earned: $5.02
Price spread: +0.103% → 0.000%: $10.35
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: $3.37
Costs to cover: 0.120%
Break-even: 2.3 days

Slippage unknown: Bullet: live order book, 51 min ago; Paradex: 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 Bullet live order book, 51 min ago	0.56 bp	6.1 bp −$6	16.7 bp −$167	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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 36 exchanges

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
Kraken Futures PF_WTIOILUSD	−0.0232%	1h	89.824	+0.022%	$306K	$1.9M	25x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0195%	1h	89.840	+0.040%	$39K	$645K	15x	as long as short
Aftermath Perps WTIUSD	−0.0146%	1h	89.592	−0.237%	$1K	$26K	5x	as long as short
tradeXYZ xyz:CL	−0.0124%	1h	89.900	+0.106%	$174.2M	$250.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0106%	4h	89.770	−0.038%	$67K	$645K	25x	as long as short
Bitget CLUSDT	−0.0092%	4h	89.911	+0.119%	$40.9M	$56.6M	100x	as long as short
Aster CLUSD1	−0.0070%	4h	89.968	+0.182%	$24.4M	$72.4M	20x	as long as short
Nado WTI-PERP	−0.0064%	1h	89.866	+0.069%	$887K	$704K	10x	as long as short
edgeX CLUSDC	−0.0062%	4h	89.742	−0.070%	$499K	$373K	30x	as long as short
Ondo Perps WTI-USD.P	−0.0031%	1h	89.900	+0.106%	$3.4M	$6.4M	20x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended WTI-USD	−0.0024%	1h	89.950	+0.162%	$1.3M	$13.3M	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0024%	1h	89.760	−0.050%	$416K	$1.5M	15x	as long as short
Binance CLUSDT	−0.0024%	4h	89.930	+0.140%	$243.9M	$1.20B	100x	as long as short
QFEX CL-USD	−0.0017%	1h	89.910	+0.117%	$2.2M	$2.9M	10x	as long as short
Gate CL_USDT	−0.0013%	8h	89.880	+0.084%	$24.0M	$54.5M	100x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	89.479	−0.362%	$609	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	89.948	+0.159%	$9K	$4K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	89.949	+0.161%	$29.0M	$109.8M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	89.910	+0.117%	$40.5M	$134.6M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	89.988	+0.204%	$2.8M	$3.1M	20x	as long as short
Variational Omni CL	0.0000%	4h	89.821	+0.019%	$12.6M	$11.3M	—	as long as short
Phoenix WTIOIL	0.0000%	1h	89.790	−0.016%	$33K	$38K	20x	as long as short
Bullet WTIOIL-USDlong	0.0000%	1h	89.804	long leg	$17K	$235K	10x
Paradex CL-USD-PERPshort	+0.0024%	8h	89.897	+0.103%	$15K	$458	5x
Lighter WTI	+0.0032%	1h	89.899	+0.105%	$10.6M	$10.9M	20x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	90.137	+0.370%	$16K	$5K	30x	as long as short
StandX CL-USD	+0.0040%	1h	89.810	+0.006%	$692K	$2.7M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	89.800	−0.005%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	89.781	−0.026%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	89.850	+0.051%	$2.0M	$85K	20x	as long as short
Pacifica CL	+0.0100%	1h	89.913	+0.121%	$308K	$744K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	89.940	+0.151%	$6.8M	$3.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	89.760	−0.050%	$52K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	89.824	+0.021%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0159% / S +0.0025%	1h	89.805	+0.001%	$71K	—	111x	as long as short
BloFin CL-USDT	+0.0240%	4h	89.760	−0.050%	$3.9M	$1.1M	50x	as long as short