Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0115%/8hpaid last 24h −0.004%

Price spread now: edgeX against QFEX−0.025%57s7-day average +0.003% · 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—prices read too far apart to compare

costs, in and out, $10k−$450.446% of the position

Long on QFEX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.033%−$3 on $10k

Price spread, last 3 days (all we have)+0.001%$0 · spread now −0.025%, 7d avg +0.003%

Together, before fees−0.032%+ Points / potential airdropedgeX: Active · farm board−$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.028% cheaper against QFEX than usual: you would sell low and buy high (spread −0.025% now, against its 7-day average of +0.003%). If the spread goes back, that is −$3 on $10k: about 19 hours of funding at the current rate (+$3 a day). The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CL-USD	92.000	−0.0022	get 0.0003% / 1h	21m 41s	$2.4M	$2.8M	10x
Short	edgeX CLUSDC	91.977	0.0093	get 0.0046% / 4h	21m 41s	$529K	$351K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against QFEX. 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 QFEXbpFee edgeXbpOrdersPrice spread, now −0.025%Rate

Funding earned: $24.13
Price spread: −0.025% → +0.003%: −$2.79
Slippage, 4 orders: −$25.59
Fee QFEX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$23.24
Costs to cover: 0.446%
Break-even: 13.7 days

Slippage from QFEX: live order book, 10 min ago; edgeX: live order book, 11 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 QFEX live order book, 10 min ago	2.17 bp	7.2 bp −$7	7.2 bp −$72	7.2 bp −$717	12.6 bp −$6,303
Sell edgeX live order book, 11 min ago	10.08 bp	14.6 bp −$15	14.8 bp −$148	23.5 bp −$2,346	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
Ondo Perps WTI-USD.P	−0.0105%	1h	91.980	−0.022%	$3.5M	$6.3M	20x	as long as short
Binance CLUSDT	−0.0099%	4h	92.000	0.000%	$245.3M	$1.05B	100x	as long as short
Aster CLUSD1	−0.0098%	4h	92.030	+0.033%	$24.8M	$70.7M	20x	as long as short
Nado WTI-PERP	−0.0081%	1h	92.076	+0.083%	$843K	$752K	10x	as long as short
Variational Omni CL	−0.0079%	4h	91.945	−0.060%	$13.4M	$16.7M	—	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0076%	1h	92.050	+0.054%	$96K	$470K	15x	as long as short
Aftermath Perps WTIUSD	−0.0075%	1h	92.068	+0.074%	$2K	$33K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0059%	1h	92.076	+0.083%	$267K	$1.3M	25x	as long as short
Lighter WTI	−0.0040%	1h	91.999	−0.001%	$11.1M	$12.5M	20x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0038% / S +0.0036%	1h	91.759	−0.262%	$178K	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT CL_USDT_Perp	−0.0022%	4h	91.960	−0.043%	$58K	$812K	25x	as long as short
QFEX CL-USDlong	−0.0022%	1h	92.000	long leg	$2.4M	$2.8M	10x
tradeXYZ xyz:CL	−0.0019%	1h	92.020	+0.022%	$183.3M	$287.1M	20x	as long as short
Bullet WTIOIL-USD	−0.0016%	1h	92.020	+0.022%	$19K	$246K	10x	as long as short
Gate CL_USDT	−0.0008%	8h	91.960	−0.043%	$21.1M	$61.6M	100x	as long as short
dYdX WTI-USD	0.0000%	1h	92.035	+0.038%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.006	+0.007%	$24.7M	$95.4M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.010	+0.011%	$43.1M	$112.4M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.115	+0.125%	$3.1M	$2.6M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.009	+0.010%	$42.5M	$63.6M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.070	+0.076%	$396K	$1.1M	15x	as long as short
Paradex CL-USD-PERP	+0.0010%	8h	91.982	−0.020%	$15K	$367	5x	as long as short
Phoenix WTIOIL	+0.0026%	1h	92.020	+0.022%	$33K	$99K	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.060	+0.065%	$1.9M	$29.3M	10x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	92.595	+0.647%	$18K	$14K	30x	as long as short
StandX CL-USD	+0.0040%	1h	92.040	+0.043%	$726K	$2.6M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.110	+0.120%	—	$243K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.055	+0.060%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.015	+0.016%	$2.0M	$45K	20x	as long as short
edgeX CLUSDCshort	+0.0093%	4h	91.977	−0.025%	$529K	$351K	30x
Pacifica CL	+0.0100%	1h	92.011	+0.012%	$315K	$542K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.062	+0.067%	$7.5M	$1.2M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.000	0.000%	$55K	$272K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.006	+0.006%	$4K	$49	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0127% / S +0.0033%	1h	92.015	+0.016%	$79K	—	111x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.030	+0.033%	$4.1M	$1.5M	50x	as long as short