Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0243%/8h= −26.6% APRpaid last 24h −0.035%

Price spread now: Gate against SoDEX−0.108%7-day average −0.053% · 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−$63as in the Price arb table

costs, in and out, $10k−$580.577% of the position

Long on SoDEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.198%−$20 on $10k

Price spread, last 3 days (all we have)+0.146%+$15 · spread now −0.108%, 7d avg −0.053%

Together, before fees−0.053%−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Gate is 0.055% cheaper against SoDEX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.053%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX CL-USD	92.830	0.0050	pay 0.0006% / 1h	58m 35s	$2.1M	$58K	20x
Short	Gate CL_USDT	92.730	−0.0193	pay 0.0193% / 8h	6h 58m	$21.2M	$52.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.108%Rate

Funding earned: −$51.03
Price spread: −0.108% → −0.053%: −$5.47
Slippage, 4 orders: −$34.72
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$114.22
Costs to cover: 0.577%
Break-even: never at this rate

Slippage from SoDEX: live order book, just now; Gate: live order book, 5 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, just now	1.02 bp	19.2 bp −$19	83.6 bp −$836	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	0.54 bp	9.8 bp −$10	13.1 bp −$131	25.9 bp −$2,590	33.4 bp −$16.7K

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	−0.0396%	1h	92.800	−0.032%	$130K	$276K	15x	as long as short
GRVT CL_USDT_Perp	−0.0342%	4h	92.660	−0.183%	$58K	$630K	25x	as long as short
Aster CLUSD1	−0.0336%	4h	92.820	−0.011%	$24.0M	$75.1M	20x	as long as short
Binance CLUSDT	−0.0282%	4h	92.776	−0.058%	$244.8M	$1.02B	100x	as long as short
Variational Omni CL	−0.0273%	4h	92.659	−0.184%	$13.3M	$11.4M	—	as long as short
Gate CL_USDTshort	−0.0193%	8h	92.730	−0.108%	$21.2M	$52.0M	100x
tradeXYZ xyz:CL	−0.0062%	1h	92.769	−0.066%	$186.4M	$234.7M	20x	as long as short
Nado WTI-PERP	−0.0050%	1h	92.804	−0.028%	$935K	$699K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.030	−0.862%	$399K	$956K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.817	−0.014%	$274K	$907K	25x	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	−0.0033%	1h	92.750	−0.086%	$2.5M	$1.7M	10x	as long as short
Ondo Perps WTI-USD.P	−0.0023%	1h	92.730	−0.108%	$3.5M	$5.9M	20x	as long as short
OKX CL-USDT-SWAP	−0.0005%	4h	92.760	−0.075%	$42.9M	$108.4M	50x	as long as short
Lighter WTI	0.0000%	1h	92.774	−0.060%	$11.2M	$10.0M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.832	+0.002%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.800	−0.032%	$26.4M	$86.9M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.759	−0.076%	$42.3M	$47.3M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.740	−0.097%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.810	−0.022%	$19K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.371	−0.494%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0013%	8h	92.764	−0.071%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0016%	1h	92.810	−0.022%	$2.1M	$25.5M	10x	as long as short
edgeX CLUSDC	+0.0035%	4h	92.691	−0.150%	$533K	$300K	30x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.884	+0.058%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.390	−0.474%	$723K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.800	−0.032%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.814	−0.017%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USDlong	+0.0050%	1h	92.830	long leg	$2.1M	$58K	20x
KuCoin CLUSDTM	+0.0076%	4h	92.808	−0.024%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.783	−0.051%	$355K	$605K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.780	−0.054%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.775	−0.059%	$4K	—	10x	as long as short
Aftermath Perps WTIUSD	+0.0113%	1h	92.716	−0.123%	$2K	$28K	5x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.815	−0.016%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.69	+9.544%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0237%	4h	92.680	−0.162%	$4.0M	$1.2M	50x	as long as short