Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0666%/8h= −72.9% APRpaid last 24h −0.011%

Price spread now: Deribit against Gate+0.043%7-day average +0.078% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$290.285% of the position

Long on Gate Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.133%+$13 on $10k

Price spread, last 4 days (all we have)−0.113%−$11 · spread now +0.043%, 7d avg +0.078%

Together, before fees+0.021%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and Deribit is 0.035% cheaper against Gate than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.078%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.133%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.133% in total (about 12.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CL_USDT	93.140	−0.0049	get 0.0049% / 8h	3h 45m	$21.0M	$50.9M	100x
Short	Deribit WTIOIL_USDC-PERPETUAL	93.180	−0.0715	pay 0.0089% / 1h	45m 04s	$199K	$370K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$139.85
Price spread: +0.043% → +0.078%: −$3.5
Slippage, 4 orders: −$6.54
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$171.88
Costs to cover: 0.285%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Deribit: live order book, 9 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	10.3 bp −$10	14.1 bp −$141	25.9 bp −$2,591	32.3 bp −$16.1K
Sell Deribit live order book, 9 min ago	0.54 bp	5.1 bp −$5	7.4 bp −$74	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	−0.0715%	1h	93.180	+0.043%	$199K	$370K	15x
Aster CLUSD1	−0.0260%	4h	93.246	+0.114%	$24.1M	$67.0M	20x	as long as short
GRVT CL_USDT_Perp	−0.0192%	4h	93.168	+0.030%	$54K	$658K	25x	as long as short
Binance CLUSDT	−0.0171%	4h	93.170	+0.032%	$245.4M	$943.5M	100x	as long as short
Variational Omni CL	−0.0160%	4h	93.169	+0.031%	$13.4M	$10.8M	—	as long as short
Nado WTI-PERP	−0.0128%	1h	93.268	+0.138%	$964K	$645K	10x	as long as short
Bitget CLUSDT	−0.0122%	4h	93.195	+0.059%	$42.0M	$43.3M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0117%	1h	93.150	+0.011%	$3.5M	$5.3M	20x	as long as short
Aftermath Perps WTIUSD	−0.0110%	1h	93.176	+0.039%	$2K	$27K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.217	+0.082%	$269K	$947K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDTlong	−0.0049%	8h	93.140	long leg	$21.0M	$50.9M	100x
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.190	+0.054%	$401K	$928K	15x	as long as short
OKX CL-USDT-SWAP	−0.0034%	4h	93.200	+0.064%	$42.6M	$102.9M	50x	as long as short
QFEX CL-USD	−0.0033%	1h	93.200	+0.064%	$2.3M	$1.8M	10x	as long as short
KuCoin CLUSDTM	−0.0012%	4h	93.224	+0.090%	$7.1M	$2.4M	50x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.230	+0.097%	$37K	$41K	20x	as long as short
edgeX CLUSDC	−0.0005%	4h	93.232	+0.099%	$524K	$308K	30x	as long as short
tradeXYZ xyz:CL	−0.0001%	1h	93.178	+0.041%	$184.5M	$219.0M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.272	+0.142%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.215	+0.081%	$26.9M	$80.8M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.268	+0.137%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.208	+0.073%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.779	−0.388%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0015%	8h	93.201	+0.065%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	93.213	+0.078%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.220	+0.086%	$2.0M	$19.5M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.150	+0.011%	$736K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.230	+0.097%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.221	+0.087%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.225	+0.091%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.215	+0.081%	$331K	$597K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.280	+0.150%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.183	+0.046%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0205%	4h	93.200	+0.064%	$4.0M	$1.0M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0219% / S −0.0147%	1h	93.205	+0.070%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.17	+9.691%	$19K	$11K	30x	as long as short