Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h −0.003%

Price spread now: Gate against Nado−0.104%7-day average −0.060% · 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−$33as in the Price arb table

costs, in and out, $10k−$290.287% of the position

Long on Nado Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.074%−$7 on $10k

Price spread, last 7 days+0.045%+$4 · spread now −0.104%, 7d avg −0.060%

Together, before fees−0.029%+ Points / potential airdropNado: Active · farm board−$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.043% cheaper against Nado than usual: you would sell low and buy high (spread −0.104% now, against its 7-day average of −0.060%). If the spread goes back, that is −$4 on $10k: about 2.6 days of funding at the current rate (+$2 a day). Mind the row above: over the last 3 days funding on this pair cost −0.074%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado WTI-PERP	93.397	−0.0129	get 0.0016% / 1h	46m 00s	$967K	$620K	10x
Short	Gate CL_USDT	93.300	−0.0073	pay 0.0073% / 8h	2h 46m	$21.6M	$49.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Nado. 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 NadobpFee GatebpOrdersPrice spread, now −0.104%Rate

Funding earned: $11.77
Price spread: −0.104% → −0.060%: −$4.35
Slippage, 4 orders: −$6.68
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$21.26
Costs to cover: 0.287%
Break-even: 19.6 days

Slippage from Nado: live order book, 2 min ago; Gate: live order book, 3 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 Nado live order book, 2 min ago	0.05 bp	5.0 bp −$5	10.5 bp −$105	32.0 bp −$3,204	doesn't fit
Sell Gate live order book, 3 min ago	0.54 bp	9.7 bp −$10	14.7 bp −$147	29.4 bp −$2,935	35.8 bp −$17.9K

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	−0.0607%	1h	93.310	−0.093%	$197K	$372K	15x	as long as short
GRVT CL_USDT_Perp	−0.0346%	4h	93.320	−0.082%	$58K	$649K	25x	as long as short
Aster CLUSD1	−0.0301%	4h	93.380	−0.018%	$24.4M	$66.5M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.352	−0.047%	$283K	$961K	25x	as long as short
Binance CLUSDT	−0.0197%	4h	93.360	−0.039%	$246.6M	$935.3M	100x	as long as short
Variational Omni CL	−0.0184%	4h	93.329	−0.073%	$13.3M	$10.9M	—	as long as short
Ondo Perps WTI-USD.P	−0.0146%	1h	93.310	−0.093%	$3.5M	$5.4M	20x	as long as short
Aftermath Perps WTIUSD	−0.0141%	1h	93.325	−0.077%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0134%	4h	93.339	−0.062%	$42.1M	$43.0M	100x	as long as short
Nado WTI-PERPlong	−0.0129%	1h	93.397	long leg	$967K	$620K	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0075%	4h	93.307	−0.096%	$524K	$306K	30x	as long as short
Gate CL_USDTshort	−0.0073%	8h	93.300	−0.104%	$21.6M	$49.3M	100x
tradeXYZ xyz:CL	−0.0069%	1h	93.345	−0.055%	$184.5M	$215.5M	20x	as long as short
OKX CL-USDT-SWAP	−0.0066%	4h	93.340	−0.061%	$42.6M	$102.6M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	−0.254%	$403K	$929K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.340	−0.061%	$2.3M	$2.1M	10x	as long as short
Paradex CL-USD-PERP	−0.0010%	8h	93.330	−0.071%	$16K	$367	5x	as long as short
Lighter WTI	0.0000%	1h	93.350	−0.050%	$11.2M	$9.9M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.329	−0.072%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.370	−0.029%	$27.1M	$79.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.400	+0.003%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.390	−0.007%	$37K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.348	−0.053%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.891	−0.542%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	93.380	−0.018%	$2.0M	$17.9M	10x	as long as short
KuCoin CLUSDTM	+0.0036%	4h	93.369	−0.030%	$7.1M	$2.4M	50x	as long as short
StandX CL-USD	+0.0040%	1h	93.320	−0.082%	$738K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.350	−0.050%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.353	−0.047%	$332K	$576K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.338	−0.063%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.340	−0.061%	$2.1M	$60K	20x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.420	+0.025%	$54K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.323	−0.079%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0172%	4h	93.350	−0.050%	$4.0M	$984K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.57	+9.824%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0233% / S −0.0165%	1h	93.345	−0.055%	$84K	—	111x	as long as short