Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.5% APRpaid last 24h −0.003%

Price spread now: Bullet against Paradex+0.036%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bullet is 0.036% dearer against Paradex than usual: you sell high and buy low, +$4 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CL-USD-PERP	92.567	−0.0004	get 0.0004% / 8h	7h 23m	$15K	$367	5x
Short	Bullet WTIOIL-USD	92.600	0	get 0.0000% / 1h	23m 08s	$19K	$240K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Paradex. 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 ParadexbpFee BulletbpOrdersPrice spread, now +0.036%Rate

Funding earned: $0.87
Price spread: +0.036% → 0.000%: $3.56
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$7.58
Costs to cover: 0.120%
Break-even: 68.2 days

Slippage unknown: Paradex: no order-book sample; Bullet: live order book, 51 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 Paradex no order-book sample	—	—	—	—	—
Sell Bullet live order book, 51 min ago	0.54 bp	6.5 bp −$6	17.7 bp −$177	doesn't fit	doesn't fit

Paradex: 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
Deribit WTIOIL_USDC-PERPETUAL	−0.0398%	1h	92.600	+0.036%	$123K	$275K	15x	as long as short
GRVT CL_USDT_Perp	−0.0346%	4h	92.524	−0.046%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0333%	4h	92.630	+0.068%	$24.0M	$78.4M	20x	as long as short
Binance CLUSDT	−0.0272%	4h	92.632	+0.070%	$245.4M	$1.06B	100x	as long as short
Variational Omni CL	−0.0265%	4h	92.480	−0.094%	$13.1M	$12.2M	—	as long as short
Gate CL_USDT	−0.0209%	8h	92.560	−0.008%	$21.3M	$55.2M	100x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.629	+0.067%	$274K	$1.1M	25x	as long as short
Nado WTI-PERP	−0.0064%	1h	92.638	+0.076%	$933K	$732K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0048%	1h	92.530	−0.040%	$3.5M	$6.1M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.580%	$399K	$959K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0040%	1h	92.570	+0.003%	$2.4M	$2.1M	10x	as long as short
tradeXYZ xyz:CL	−0.0025%	1h	92.650	+0.090%	$186.8M	$235.9M	20x	as long as short
Paradex CL-USD-PERPlong	−0.0004%	8h	92.567	long leg	$15K	$367	5x
dYdX WTI-USD	0.0000%	1h	92.582	+0.016%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.651	+0.091%	$26.4M	$92.2M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.630	+0.068%	$43.0M	$111.4M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.712	+0.157%	$3.3M	$2.8M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.638	+0.077%	$42.2M	$50.7M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.600	+0.036%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USDshort	0.0000%	1h	92.600	+0.036%	$19K	$240K	10x
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.173	−0.426%	$5K	—	150x	as long as short
Lighter WTI	+0.0016%	1h	92.628	+0.066%	$11.2M	$10.1M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.660	+0.100%	$2.3M	$26.7M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.400	−0.180%	$723K	$3.1M	40x	as long as short
edgeX CLUSDC	+0.0041%	4h	92.545	−0.024%	$532K	$299K	30x	as long as short
Vest CL-PERP	+0.0046%	1h	92.610	+0.046%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.593	+0.028%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.618	+0.055%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.589	+0.024%	$356K	$603K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.633	+0.071%	$7.2M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.560	−0.008%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.580	+0.013%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.615	+0.052%	$78K	—	111x	as long as short
Aftermath Perps WTIUSD	+0.0217%	1h	92.542	−0.027%	$2K	$28K	5x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.56	+9.711%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.510	−0.062%	$4.0M	$1.4M	50x	as long as short