Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0148%/8h= +16.2% APRpaid last 24h +0.061%

Price spread now: BloFin against Extended−0.032%54s7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$3as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$200.204% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.171%+$17 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now −0.032%, 7d avg −0.008%

Together, before fees+0.103%+ Points / potential airdropExtended: Active · farm board+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.024% cheaper against Extended than usual: you would sell low and buy high (spread −0.032% now, against its 7-day average of −0.008%). If the spread goes back, that is −$2 on $10k: about 13 hours of funding at the current rate (+$4 a day). The two prices were read 54 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	Extended WTI-USD	93.480	0.0032	pay 0.0004% / 1h	24m 10s	$2.0M	$17.2M	10x
Short	BloFin CL-USDT	93.450	0.0180	get 0.0090% / 4h	2h 24m	$4.0M	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Extended. 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 ExtendedbpFee BloFinbpOrdersPrice spread, now −0.032%Rate

Funding earned: $31.03
Price spread: −0.032% → −0.008%: −$2.37
Slippage, 4 orders: −$3.36
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: $8.31
Costs to cover: 0.204%
Break-even: 5.1 days

Slippage from Extended: live order book, 5 min ago; BloFin: live order book, 4 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 Extended live order book, 5 min ago	0.64 bp	3.3 bp −$3	4.5 bp −$45	21.2 bp −$2,117	doesn't fit
Sell BloFin live order book, 4 min ago	0.54 bp	6.5 bp −$7	7.0 bp −$70	12.3 bp −$1,233	25.8 bp −$12.9K

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	−0.0392%	1h	93.410	−0.075%	$197K	$374K	15x	as long as short
GRVT CL_USDT_Perp	−0.0320%	4h	93.424	−0.060%	$58K	$639K	25x	as long as short
Aster CLUSD1	−0.0300%	4h	93.427	−0.056%	$24.4M	$65.1M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.459	−0.022%	$285K	$958K	25x	as long as short
Binance CLUSDT	−0.0189%	4h	93.406	−0.079%	$246.4M	$933.2M	100x	as long as short
Variational Omni CL	−0.0182%	4h	93.450	−0.033%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0150%	1h	93.465	−0.016%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0132%	4h	93.349	−0.140%	$42.0M	$42.8M	100x	as long as short
Nado WTI-PERP	−0.0131%	1h	93.572	+0.098%	$968K	$616K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0112%	1h	93.440	−0.043%	$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
Gate CL_USDT	−0.0078%	8h	93.320	−0.171%	$21.8M	$49.8M	100x	as long as short
edgeX CLUSDC	−0.0074%	4h	93.495	+0.016%	$526K	$305K	30x	as long as short
tradeXYZ xyz:CL	−0.0065%	1h	93.362	−0.126%	$184.8M	$213.4M	20x	as long as short
OKX CL-USDT-SWAP	−0.0056%	4h	93.380	−0.107%	$42.6M	$102.5M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.500	+0.021%	$404K	$931K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.490	+0.011%	$2.3M	$2.4M	10x	as long as short
dYdX WTI-USD	0.0000%	1h	93.496	+0.017%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.420	−0.064%	$27.1M	$79.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.523	+0.046%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.380	−0.107%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.465	−0.016%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.995	−0.519%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0008%	8h	93.452	−0.029%	$16K	$367	5x	as long as short
Lighter WTI	+0.0008%	1h	93.412	−0.073%	$11.2M	$9.9M	20x	as long as short
Extended WTI-USDlong	+0.0032%	1h	93.480	long leg	$2.0M	$17.2M	10x
StandX CL-USD	+0.0040%	1h	93.510	+0.032%	$740K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.470	−0.011%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.481	+0.001%	$332K	$576K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.470	−0.011%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.411	−0.074%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0064%	4h	93.499	+0.020%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.410	−0.075%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.412	−0.073%	$4K	—	10x	as long as short
BloFin CL-USDTshort	+0.0180%	4h	93.450	−0.032%	$4.0M	$1.0M	50x
Injective WTI/USDC PERP	+0.0220%	1h	102.60	+9.759%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0237% / S −0.0170%	1h	93.455	−0.027%	$84K	—	111x	as long as short