Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0141%/8h= +15.4% APRpaid last 24h +0.051%

Price spread now: BloFin against SoDEX−0.059%7-day average −0.001% · 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−$59as in the Price arb table

costs, in and out, $10k−$530.532% of the position

Long on SoDEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.161%+$16 on $10k

Price spread, last 4 days (all we have)−0.027%−$3 · spread now −0.059%, 7d avg −0.001%

Together, before fees+0.134%+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.058% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.059% now, against its 7-day average of −0.001%). If the spread goes back, that is −$6 on $10k: about 33 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX CL-USD	92.765	0.0050	pay 0.0006% / 1h	35m 07s	$2.1M	$69K	20x
Short	BloFin CL-USDT	92.710	0.0191	get 0.0096% / 4h	3h 35m	$4.0M	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against SoDEX. 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 SoDEXbpFee BloFinbpOrdersPrice spread, now −0.059%Rate

Funding earned: $29.63
Price spread: −0.059% → −0.001%: −$5.8
Slippage, 4 orders: −$33.19
Fee SoDEX: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$29.37
Costs to cover: 0.532%
Break-even: 13.9 days

Slippage from SoDEX: live order book, 4 min ago; BloFin: live order book, 3 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 SoDEX live order book, 4 min ago	1.72 bp	19.9 bp −$20	88.4 bp −$884	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	0.54 bp	8.7 bp −$9	8.9 bp −$89	14.4 bp −$1,443	24.1 bp −$12.1K

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	−0.0504%	1h	92.740	−0.027%	$187K	$410K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0314%	1h	92.766	+0.001%	$269K	$928K	25x	as long as short
Aster CLUSD1	−0.0228%	4h	92.756	−0.010%	$24.8M	$60.6M	20x	as long as short
Gate CL_USDT	−0.0219%	8h	92.660	−0.113%	$23.4M	$49.4M	100x	as long as short
Binance CLUSDT	−0.0128%	4h	92.733	−0.035%	$245.0M	$931.8M	100x	as long as short
Variational Omni CL	−0.0113%	4h	92.780	+0.016%	$13.5M	$10.7M	—	as long as short
GRVT CL_USDT_Perp	−0.0104%	4h	92.790	+0.027%	$75K	$624K	25x	as long as short
Nado WTI-PERP	−0.0099%	1h	92.792	+0.029%	$950K	$604K	10x	as long as short
Bitget CLUSDT	−0.0080%	4h	92.722	−0.046%	$41.9M	$41.6M	100x	as long as short
Aftermath Perps WTIUSD	−0.0074%	1h	92.873	+0.116%	$2K	$27K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAP	−0.0050%	4h	92.710	−0.059%	$42.5M	$102.5M	50x	as long as short
QFEX CL-USD	−0.0026%	1h	92.770	+0.005%	$2.3M	$2.4M	10x	as long as short
tradeXYZ xyz:CL	−0.0014%	1h	92.720	−0.049%	$184.0M	$191.6M	20x	as long as short
edgeX CLUSDC	−0.0007%	4h	92.845	+0.086%	$542K	$342K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	92.748	−0.018%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.750	−0.016%	$27.5M	$80.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.770	+0.005%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.739	−0.028%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.334	−0.465%	$5K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.850	+0.092%	$37K	$39K	20x	as long as short
Paradex CL-USD-PERP	+0.0014%	8h	92.731	−0.036%	$16K	$367	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	93.160	+0.426%	$404K	$794K	15x	as long as short
Ondo Perps WTI-USD.P	+0.0030%	1h	92.690	−0.081%	$3.6M	$5.2M	20x	as long as short
Lighter WTI	+0.0032%	1h	92.763	−0.002%	$11.3M	$8.8M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.770	+0.005%	$1.7M	$14.4M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.880	+0.124%	$732K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.740	−0.027%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.760	−0.005%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USDlong	+0.0050%	1h	92.765	long leg	$2.1M	$69K	20x
Pacifica CL	+0.0100%	1h	92.754	−0.012%	$346K	$589K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.767	+0.002%	$7.0M	$2.5M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.860	+0.102%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.742	−0.025%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0166% / S −0.0008%	1h	92.715	−0.054%	$80K	—	111x	as long as short
BloFin CL-USDTshort	+0.0191%	4h	92.710	−0.059%	$4.0M	$1.0M	50x
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+10.100%	$19K	$5K	30x	as long as short