Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%

Price spread now: Bitget against OKX+0.029%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$260.258% of the position

Long on OKX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 7 days−0.048%−$5 · spread now +0.029%, 7d avg −0.003%

Together, before fees−0.099%−$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.032% dearer against OKX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CL-USDT-SWAP	92.130	0	get 0.0000% / 4h	3h 50m	$42.8M	$111.2M	50x
Short	Bitget CLUSDT	92.157	0	get 0.0000% / 4h	3h 50m	$41.9M	$51.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against OKX. 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 OKXbpFee BitgetbpOrdersPrice spread, now +0.029%Rate

Funding earned: $0
Price spread: +0.029% → −0.003%: $3.24
Slippage, 4 orders: −$3.85
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$22.61
Costs to cover: 0.258%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Bitget: 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 OKX live order book, 3 min ago	0.54 bp	5.5 bp −$6	6.8 bp −$68	15.2 bp −$1,522	doesn't fit
Sell Bitget live order book, 3 min ago	0.60 bp	7.3 bp −$7	9.6 bp −$96	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
GRVT CL_USDT_Perp	−0.0536%	4h	92.166	+0.039%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0318%	4h	92.170	+0.043%	$23.8M	$79.1M	20x	as long as short
Gate CL_USDT	−0.0276%	8h	92.090	−0.043%	$21.3M	$54.3M	100x	as long as short
Binance CLUSDT	−0.0248%	4h	92.155	+0.027%	$245.1M	$1.08B	100x	as long as short
Variational Omni CL	−0.0236%	4h	92.101	−0.032%	$13.2M	$12.7M	—	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0184%	1h	92.150	+0.022%	$96K	$189K	15x	as long as short
Bybit CLUSDT	−0.0150%	8h	92.156	+0.028%	$26.0M	$93.8M	150x	as long as short
Nado WTI-PERP	−0.0127%	1h	92.201	+0.077%	$923K	$732K	10x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.161	+0.034%	$273K	$1.2M	25x	as long as short
Ondo Perps WTI-USD.P	−0.0095%	1h	92.180	+0.054%	$3.5M	$6.2M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0062%	1h	92.165	+0.038%	$186.2M	$261.6M	20x	as long as short
Lighter WTI	−0.0040%	1h	92.140	+0.011%	$11.2M	$9.9M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.109%	$399K	$960K	15x	as long as short
QFEX CL-USD	−0.0040%	1h	92.150	+0.022%	$2.4M	$2.2M	10x	as long as short
Paradex CL-USD-PERP	−0.0034%	8h	92.141	+0.012%	$15K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	92.235	+0.114%	$8K	$3K	5x	as long as short
OKX CL-USDT-SWAPlong	0.0000%	4h	92.130	long leg	$42.8M	$111.2M	50x
RISEx CL/USDC	0.0000%	1h	92.279	+0.162%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDTshort	0.0000%	4h	92.157	+0.029%	$41.9M	$51.4M	100x
Phoenix WTIOIL	0.0000%	1h	92.260	+0.141%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.118	−0.013%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.707	−0.459%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	92.210	+0.087%	$2.0M	$26.7M	10x	as long as short
edgeX CLUSDC	+0.0036%	4h	92.162	+0.035%	$530K	$306K	30x	as long as short
StandX CL-USD	+0.0040%	1h	92.190	+0.065%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.200	+0.076%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.151	+0.023%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.125	−0.005%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.143	+0.014%	$353K	$596K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.192	+0.067%	$7.2M	$2.3M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.240	+0.119%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.143	+0.014%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.125	−0.005%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.38	+10.042%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.100	−0.033%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0435%	1h	92.171	+0.045%	$2K	$29K	5x	as long as short