Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.018%

Price spread now: Bullet against RISEx−0.082%7-day average −0.044% · 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−$32as in the Price arb table

costs, in and out, $10k−$290.286% of the position

Long on RISEx Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.117%−$12 on $10k

Price spread, last 4 days (all we have)+0.074%+$7 · spread now −0.082%, 7d avg −0.044%

Together, before fees−0.043%−$4 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: Bullet is 0.038% cheaper against RISEx than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx CL/USDC	90.427	0	get 0.0000% / 1h	1m 48s	$2.9M	$3.0M	20x
Short	Bullet WTIOIL-USD	90.353	0	get 0.0000% / 1h	1m 48s	$16K	$238K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against RISEx. 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 RISExbpFee BulletbpOrdersPrice spread, now −0.082%Rate

Funding earned: $0
Price spread: −0.082% → −0.044%: −$3.78
Slippage, 4 orders: −$14.58
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$32.36
Costs to cover: 0.286%
Break-even: never at this rate

Slippage from RISEx: live order book, 5 min ago; Bullet: live order book, 50 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 RISEx live order book, 5 min ago	4.89 bp	7.9 bp −$8	13.7 bp −$137	doesn't fit	doesn't fit
Sell Bullet live order book, 50 min ago	0.55 bp	6.4 bp −$6	17.4 bp −$174	doesn't fit	doesn't fit

CL on 36 exchanges

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	−0.0414%	1h	90.360	−0.074%	$183K	$422K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0366%	1h	90.346	−0.090%	$325K	$1.8M	25x	as long as short
Aster CLUSD1	−0.0148%	4h	90.360	−0.074%	$24.8M	$70.0M	20x	as long as short
Bitget CLUSDT	−0.0110%	4h	90.346	−0.090%	$41.1M	$54.3M	100x	as long as short
Binance CLUSDT	−0.0100%	4h	90.303	−0.137%	$242.0M	$1.17B	100x	as long as short
Variational Omni CL	−0.0085%	4h	89.884	−0.601%	$12.7M	$11.2M	—	as long as short
Ondo Perps WTI-USD.P	−0.0085%	1h	90.340	−0.096%	$3.4M	$6.1M	20x	as long as short
tradeXYZ xyz:CL	−0.0080%	1h	90.386	−0.045%	$174.3M	$237.1M	20x	as long as short
Nado WTI-PERP	−0.0077%	1h	90.449	+0.024%	$876K	$682K	10x	as long as short
Extended WTI-USD	−0.0072%	1h	90.420	−0.008%	$1.3M	$14.8M	10x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT CL_USDT_Perp	−0.0060%	4h	90.241	−0.205%	$74K	$628K	25x	as long as short
Gate CL_USDT	−0.0050%	8h	90.300	−0.141%	$23.4M	$56.1M	100x	as long as short
Aftermath Perps WTIUSD	−0.0047%	1h	90.323	−0.115%	$2K	$27K	5x	as long as short
OKX CL-USDT-SWAP	−0.0036%	4h	90.250	−0.196%	$40.4M	$126.8M	50x	as long as short
QFEX CL-USD	−0.0023%	1h	90.380	−0.052%	$2.2M	$2.8M	10x	as long as short
edgeX CLUSDC	−0.0017%	4h	89.916	−0.565%	$503K	$379K	30x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	90.022	−0.448%	$1K	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	90.170	−0.285%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	90.312	−0.127%	$26.9M	$104.4M	150x	as long as short
RISEx CL/USDClong	0.0000%	1h	90.427	long leg	$2.9M	$3.0M	20x
Bullet WTIOIL-USDshort	0.0000%	1h	90.353	−0.082%	$16K	$238K	10x
Coinbase International WTIOIL-PERP-INTX	+0.0008%	1h	90.430	+0.003%	$413K	$1.5M	15x	as long as short
Paradex CL-USD-PERP	+0.0015%	8h	90.282	−0.161%	$15K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	90.402	−0.028%	$10.8M	$10.3M	20x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	89.848	−0.640%	$16K	$5K	30x	as long as short
StandX CL-USD	+0.0040%	1h	90.700	+0.302%	$702K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	90.330	−0.107%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	90.300	−0.141%	$1.7M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	90.380	−0.052%	$2.0M	$82K	20x	as long as short
Phoenix WTIOIL	+0.0053%	1h	90.180	−0.273%	$36K	$37K	20x	as long as short
Pacifica CL	+0.0100%	1h	90.226	−0.222%	$305K	$717K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	90.400	−0.030%	$7.0M	$3.0M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	90.340	−0.096%	$52K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	90.310	−0.129%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0167% / S +0.0014%	1h	90.405	−0.024%	$73K	—	111x	as long as short
BloFin CL-USDT	+0.0217%	4h	90.030	−0.439%	$3.9M	$1.1M	50x	as long as short