Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0080%/8h= +8.8% APRpaid last 24h −0.031%

Price spread now: Gate against Ondo Perps−0.022%7-day average −0.008% · you buy dearer than you sell

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

Long on Ondo Perps Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.591%−$59 on $10k

Price spread, last 7 days−0.144%−$14 · spread now −0.022%, 7d avg −0.008%

Together, before fees−0.735%+ Points / potential airdropOndo Perps: Active · farm board−$74 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.591%, 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	92.080	−0.0107	get 0.0013% / 1h	39m 05s	$3.5M	$6.3M	20x
Short	Gate CL_USDT	92.060	−0.0027	pay 0.0027% / 8h	39m 05s	$21.3M	$57.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.022%Rate

Funding earned: $16.84
Price spread: −0.022% → −0.008%: −$1.36
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$4.52
Costs to cover: 0.200%
Break-even: 8.9 days

Slippage unknown: Ondo Perps: no order-book sample; Gate: live order book, 5 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 Gate live order book, 5 min ago	0.54 bp	9.0 bp −$9	12.8 bp −$128	30.9 bp −$3,088	37.1 bp −$18.6K

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 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	92.157	+0.084%	$274K	$1.2M	25x	as long as short
GRVT CL_USDT_Perp	−0.0314%	4h	92.040	−0.043%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0235%	4h	92.112	+0.035%	$24.0M	$77.4M	20x	as long as short
Nado WTI-PERP	−0.0168%	1h	92.133	+0.057%	$924K	$740K	10x	as long as short
Binance CLUSDT	−0.0159%	4h	92.110	+0.033%	$245.4M	$1.10B	100x	as long as short
Variational Omni CL	−0.0138%	4h	92.053	−0.029%	$13.4M	$12.4M	—	as long as short
Lighter WTI	−0.0120%	1h	92.096	+0.017%	$11.2M	$10.9M	20x	as long as short
Ondo Perps WTI-USD.Plong	−0.0107%	1h	92.080	long leg	$3.5M	$6.3M	20x
Paradex CL-USD-PERP	−0.0101%	8h	92.067	−0.014%	$15K	$367	5x	as long as short
tradeXYZ xyz:CL	−0.0088%	1h	92.122	+0.046%	$187.1M	$274.7M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit WTIOIL_USDC-PERPETUAL	−0.0076%	1h	92.120	+0.043%	$96K	$189K	15x	as long as short
QFEX CL-USD	−0.0054%	1h	92.070	−0.011%	$2.4M	$2.6M	10x	as long as short
Bullet WTIOIL-USD	−0.0052%	1h	92.107	+0.029%	$18K	$241K	10x	as long as short
Gate CL_USDTshort	−0.0027%	8h	92.060	−0.022%	$21.3M	$57.6M	100x
Pacifica CL	−0.0020%	1h	92.103	+0.025%	$332K	$576K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.108	+0.030%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.140	+0.065%	$25.6M	$94.8M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.110	+0.033%	$43.0M	$112.9M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.201	+0.132%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.093	+0.014%	$42.0M	$51.7M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.120	+0.043%	$37K	$101K	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	−0.054%	$399K	$966K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.669	−0.446%	$4K	—	150x	as long as short
Extended WTI-USD	+0.0016%	1h	92.145	+0.071%	$2.0M	$27.5M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.130	+0.054%	$721K	$3.1M	40x	as long as short
Polymarket Perps WTIOIL-USD	+0.0043%	1h	92.089	+0.010%	$1.6M	$1.4M	20x	as long as short
Vest CL-PERP	+0.0046%	1h	92.130	+0.054%	—	$308K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.105	+0.027%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0059%	4h	92.084	+0.005%	$529K	$332K	30x	as long as short
Aftermath Perps WTIUSD	+0.0086%	1h	92.085	+0.006%	$2K	$29K	5x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.134	+0.059%	$7.3M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.070	−0.011%	$55K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.077	−0.003%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0205% / S −0.0130%	1h	92.105	+0.027%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.28	+9.986%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.090	+0.011%	$4.0M	$1.4M	50x	as long as short