Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0496%/8h= +54.3% APRpaid last 24h +0.115%

Price spread now: BloFin against Deribit−0.011%57s7-day average −0.023% · 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−$280.275% of the position

Long on Deribit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.264%+$26 on $10k

Price spread, last 4 days (all we have)+0.011%+$1 · spread now −0.011%, 7d avg −0.023%

Together, before fees+0.274%+$27 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.023%, so right now this pair is about funding alone: +$15 a day on $10k at the current rate. 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	Deribit WTIOIL_USDC-PERPETUAL	93.610	−0.0284	get 0.0035% / 1h	52m 12s	$197K	$380K	15x
Short	BloFin CL-USDT	93.600	0.0212	get 0.0106% / 4h	1h 52m	$4.0M	$980K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Deribit. 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 DeribitbpFee BloFinbpOrdersPrice spread, now −0.011%Rate

Funding earned: $104.17
Price spread: −0.011% → −0.023%: $1.25
Slippage, 4 orders: −$8.52
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $77.91
Costs to cover: 0.275%
Break-even: 1.8 days

Slippage from Deribit: live order book, 56 min ago; BloFin: live order book, 6 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 Deribit live order book, 56 min ago	0.54 bp	9.3 bp −$9	10.8 bp −$108	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	1.07 bp	7.1 bp −$7	7.7 bp −$77	11.9 bp −$1,191	31.2 bp −$15.6K

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-PERPETUALlong	−0.0284%	1h	93.610	long leg	$197K	$380K	15x
Aster CLUSD1	−0.0269%	4h	93.681	+0.076%	$24.5M	$64.7M	20x	as long as short
GRVT CL_USDT_Perp	−0.0258%	4h	93.501	−0.116%	$58K	$629K	25x	as long as short
Binance CLUSDT	−0.0156%	4h	93.655	+0.048%	$246.7M	$928.3M	100x	as long as short
Variational Omni CL	−0.0153%	4h	93.499	−0.119%	$13.4M	$10.8M	—	as long as short
Aftermath Perps WTIUSD	−0.0149%	1h	93.573	−0.040%	$2K	$26K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0137%	1h	93.640	+0.033%	$286K	$953K	25x	as long as short
Bitget CLUSDT	−0.0110%	4h	93.620	+0.011%	$42.2M	$42.6M	100x	as long as short
Gate CL_USDT	−0.0090%	8h	93.570	−0.043%	$22.2M	$48.3M	100x	as long as short
edgeX CLUSDC	−0.0069%	4h	93.509	−0.108%	$526K	$305K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps WTI-USD.P	−0.0040%	1h	93.630	+0.021%	$3.5M	$5.4M	20x	as long as short
Nado WTI-PERP	−0.0029%	1h	93.678	+0.073%	$969K	$628K	10x	as long as short
OKX CL-USDT-SWAP	−0.0026%	4h	93.640	+0.032%	$42.7M	$101.9M	50x	as long as short
tradeXYZ xyz:CL	−0.0025%	1h	93.627	+0.018%	$185.1M	$210.6M	20x	as long as short
QFEX CL-USD	−0.0023%	1h	93.620	+0.011%	$2.3M	$2.5M	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0008%	1h	93.500	−0.118%	$404K	$931K	15x	as long as short
dYdX WTI-USD	0.0000%	1h	93.620	+0.011%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.673	+0.067%	$27.2M	$79.4M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.688	+0.083%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.660	+0.053%	$38K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.641	+0.033%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.168	−0.472%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0027%	8h	93.617	+0.008%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	93.640	+0.032%	$11.3M	$9.6M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.650	+0.043%	$2.0M	$16.2M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.590	−0.021%	$741K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.630	+0.021%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.625	+0.016%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.638	+0.030%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.640	+0.032%	$333K	$577K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.662	+0.056%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.560	−0.053%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.607	−0.003%	$4K	—	10x	as long as short
BloFin CL-USDTshort	+0.0212%	4h	93.600	−0.011%	$4.0M	$980K	50x
Injective WTI/USDC PERP	+0.0220%	1h	102.74	+9.758%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0244% / S −0.0177%	1h	93.645	+0.037%	$84K	—	111x	as long as short