Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0022%/8h= +2.4% APRpaid last 24h +0.036%

Price spread now: Coinbase International against Gate+0.022%7-day average −0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.274%+$27 on $10k

Price spread, last 3 days (all we have)−0.074%−$7 · spread now +0.022%, 7d avg −0.030%

Together, before fees+0.200%+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Coinbase International is 0.052% dearer against Gate than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CL_USDT	92.010	−0.0022	get 0.0022% / 8h	44m 59s	$21.3M	$57.5M	100x
Short	Coinbase International WTIOIL-PERP-INTX	92.030	0	get 0.0000% / 1h	44m 59s	$399K	$984K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now +0.022%Rate

Funding earned: $4.62
Price spread: +0.022% → −0.030%: $5.21
Slippage, 4 orders: −$6.83
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$22.01
Costs to cover: 0.318%
Break-even: 40.3 days

Slippage from Gate: live order book, 4 min ago; Coinbase International: live order book, 8 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 Gate live order book, 4 min ago	0.54 bp	10.1 bp −$10	15.1 bp −$151	27.1 bp −$2,709	36.8 bp −$18.4K
Sell Coinbase International live order book, 8 min ago	1.09 bp	6.1 bp −$6	8.2 bp −$82	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
Kraken Futures PF_WTIOILUSD	−0.0450%	1h	92.067	+0.062%	$275K	$1.2M	25x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0293%	1h	92.070	+0.065%	$96K	$189K	15x	as long as short
GRVT CL_USDT_Perp	−0.0290%	4h	91.994	−0.018%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0221%	4h	92.095	+0.093%	$24.0M	$77.6M	20x	as long as short
Nado WTI-PERP	−0.0175%	1h	92.096	+0.093%	$923K	$743K	10x	as long as short
Binance CLUSDT	−0.0140%	4h	92.083	+0.080%	$245.4M	$1.10B	100x	as long as short
Ondo Perps WTI-USD.P	−0.0131%	1h	92.000	−0.011%	$3.5M	$6.4M	20x	as long as short
Lighter WTI	−0.0128%	1h	92.058	+0.052%	$11.1M	$10.9M	20x	as long as short
Variational Omni CL	−0.0123%	4h	91.994	−0.018%	$13.4M	$12.7M	—	as long as short
tradeXYZ xyz:CL	−0.0111%	1h	92.099	+0.097%	$185.8M	$275.8M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex CL-USD-PERP	−0.0108%	8h	92.012	+0.002%	$15K	$367	5x	as long as short
Bullet WTIOIL-USD	−0.0078%	1h	92.038	+0.030%	$19K	$241K	10x	as long as short
QFEX CL-USD	−0.0054%	1h	92.030	+0.022%	$2.4M	$2.6M	10x	as long as short
Gate CL_USDTlong	−0.0022%	8h	92.010	long leg	$21.3M	$57.5M	100x
Pacifica CL	−0.0020%	1h	92.030	+0.022%	$332K	$576K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.108	+0.106%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.111	+0.110%	$25.7M	$94.8M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.090	+0.087%	$43.1M	$113.1M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.152	+0.154%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.061	+0.055%	$41.9M	$51.8M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.070	+0.065%	$37K	$101K	20x	as long as short
Coinbase International WTIOIL-PERP-INTXshort	0.0000%	1h	92.030	+0.022%	$399K	$984K	15x
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.641	−0.401%	$4K	—	150x	as long as short
Extended WTI-USD	+0.0024%	1h	92.150	+0.152%	$2.0M	$27.5M	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0025%	1h	92.032	+0.024%	$1.6M	$1.4M	20x	as long as short
StandX CL-USD	+0.0040%	1h	91.990	−0.022%	$723K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.090	+0.087%	—	$308K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.055	+0.049%	$2.0M	$39K	20x	as long as short
Aftermath Perps WTIUSD	+0.0053%	1h	92.027	+0.018%	$2K	$29K	5x	as long as short
edgeX CLUSDC	+0.0068%	4h	92.022	+0.013%	$529K	$335K	30x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.071	+0.066%	$7.3M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.050	+0.043%	$55K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.020	+0.011%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	92.035	+0.027%	$76K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.28	+10.070%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.010	0.000%	$4.0M	$1.4M	50x	as long as short