Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0034%/8h= +3.7% APRpaid last 24h +0.002%

Price spread now: Bitget against Ondo Perps+0.038%7-day average +0.066% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.227%−$23 on $10k

Price spread, last 7 days−0.086%−$9 · spread now +0.038%, 7d avg +0.066%

Together, before fees−0.312%+ Points / potential airdropOndo Perps: Active · farm board−$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.028% cheaper against Ondo Perps than usual: you would sell low and buy high (spread +0.038% now, against its 7-day average of +0.066%). If the spread goes back, that is −$3 on $10k: about 2.8 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.227%, 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	Ondo Perps WTI-USD.P	92.880	−0.0034	get 0.0004% / 1h	16m 40s	$3.5M	$5.7M	20x
Short	Bitget CLUSDT	92.915	0	get 0.0000% / 4h	2h 16m	$42.0M	$44.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Ondo Perps. 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 Ondo PerpsbpFee BitgetbpOrdersPrice spread, now +0.038%Rate

Funding earned: $7.06
Price spread: +0.038% → +0.066%: −$2.8
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$12.74
Costs to cover: 0.170%
Break-even: 19.6 days

Slippage unknown: Ondo Perps: no order-book sample; Bitget: live order book, 2 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Bitget live order book, 2 min ago	0.48 bp	7.1 bp −$7	9.5 bp −$95	doesn't fit	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CL on 35 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	−0.0503%	1h	92.840	−0.043%	$198K	$365K	15x	as long as short
Aster CLUSD1	−0.0289%	4h	92.970	+0.097%	$24.0M	$72.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0258%	4h	92.840	−0.043%	$53K	$631K	25x	as long as short
Variational Omni CL	−0.0250%	4h	92.718	−0.175%	$13.3M	$11.0M	—	as long as short
Binance CLUSDT	−0.0247%	4h	92.930	+0.054%	$244.7M	$976.7M	100x	as long as short
Gate CL_USDT	−0.0113%	8h	92.880	0.000%	$20.9M	$53.9M	100x	as long as short
Nado WTI-PERP	−0.0068%	1h	92.989	+0.117%	$965K	$675K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.140%	$402K	$946K	15x	as long as short
tradeXYZ xyz:CL	−0.0047%	1h	92.934	+0.058%	$184.7M	$220.5M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.938	+0.062%	$274K	$884K	25x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps WTI-USD.Plong	−0.0034%	1h	92.880	long leg	$3.5M	$5.7M	20x
QFEX CL-USD	−0.0033%	1h	92.900	+0.022%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0018%	4h	92.920	+0.043%	$42.9M	$105.0M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.911	+0.034%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.954	+0.080%	$26.9M	$82.1M	150x	as long as short
Bitget CLUSDTshort	0.0000%	4h	92.915	+0.038%	$42.0M	$44.0M	100x
Phoenix WTIOIL	0.0000%	1h	92.920	+0.043%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.894	+0.015%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.417	−0.498%	$5K	—	150x	as long as short
Aftermath Perps WTIUSD	+0.0013%	1h	92.836	−0.047%	$2K	$28K	5x	as long as short
Paradex CL-USD-PERP	+0.0029%	8h	92.916	+0.039%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	92.934	+0.058%	$11.2M	$10.4M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.960	+0.086%	$2.1M	$24.3M	10x	as long as short
RISEx CL/USDC	+0.0037%	1h	93.038	+0.170%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.340	−0.581%	$726K	$3.0M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.900	+0.022%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.899	+0.020%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.895	+0.016%	$2.1M	$61K	20x	as long as short
edgeX CLUSDC	+0.0061%	4h	92.816	−0.069%	$528K	$303K	30x	as long as short
KuCoin CLUSDTM	+0.0078%	4h	92.969	+0.096%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.949	+0.074%	$332K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.840	−0.043%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.866	−0.015%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.885	+0.005%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.04	+9.858%	$19K	$11K	30x	as long as short