Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0201%/8h= +22.1% APRpaid last 24h +0.082%

Price spread now: BloFin against tradeXYZ+0.020%108s7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$320.325% of the position

Long on tradeXYZ Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.316%+$32 on $10k

Price spread, last 4 days (all we have)−0.090%−$9 · spread now +0.020%, 7d avg −0.020%

Together, before fees+0.226%+ Points / potential airdroptradeXYZ: Active · farm board+$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and BloFin is 0.040% dearer against tradeXYZ than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.020%. The two prices were read 108 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	tradeXYZ xyz:CL	93.071	−0.0035	get 0.0004% / 1h	31m 22s	$184.1M	$199.8M	20x
Short	BloFin CL-USDT	93.090	0.0166	get 0.0083% / 4h	31m 22s	$4.1M	$983K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against tradeXYZ. 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 tradeXYZbpFee BloFinbpOrdersPrice spread, now +0.020%Rate

Funding earned: $42.31
Price spread: +0.020% → −0.020%: $4.04
Slippage, 4 orders: −$2.45
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee BloFin: 6 bp × 2 orders: −$12
Net: $13.9
Costs to cover: 0.325%
Break-even: 4.7 days

Slippage from tradeXYZ: live order book, 9 min ago; BloFin: live order book, 2 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 tradeXYZ live order book, 9 min ago	0.27 bp	9.7 bp −$10	10.2 bp −$102	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	0.54 bp	6.5 bp −$7	8.2 bp −$82	15.9 bp −$1,594	33.8 bp −$16.9K

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	−0.0502%	1h	93.040	−0.033%	$194K	$395K	15x	as long as short
Aster CLUSD1	−0.0287%	4h	93.091	+0.021%	$24.6M	$64.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0262%	4h	93.080	+0.010%	$77K	$622K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0210%	1h	93.057	−0.015%	$274K	$939K	25x	as long as short
Binance CLUSDT	−0.0161%	4h	93.074	+0.004%	$247.1M	$923.5M	100x	as long as short
Variational Omni CL	−0.0143%	4h	93.137	+0.071%	$13.4M	$10.6M	—	as long as short
Gate CL_USDT	−0.0129%	8h	93.000	−0.076%	$22.9M	$49.3M	100x	as long as short
Bitget CLUSDT	−0.0124%	4h	93.057	−0.015%	$42.3M	$41.7M	100x	as long as short
Aftermath Perps WTIUSD	−0.0108%	1h	93.160	+0.095%	$2K	$26K	5x	as long as short
Nado WTI-PERP	−0.0100%	1h	93.079	+0.008%	$954K	$623K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0076%	4h	93.101	+0.032%	$523K	$306K	30x	as long as short
OKX CL-USDT-SWAP	−0.0075%	4h	93.050	−0.023%	$42.7M	$102.9M	50x	as long as short
QFEX CL-USD	−0.0038%	1h	93.020	−0.055%	$2.3M	$2.5M	10x	as long as short
tradeXYZ xyz:CLlong	−0.0035%	1h	93.071	long leg	$184.1M	$199.8M	20x
Ondo Perps WTI-USD.P	−0.0022%	1h	93.080	+0.010%	$3.6M	$5.3M	20x	as long as short
Lighter WTI	−0.0016%	1h	93.015	−0.060%	$11.2M	$9.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.504%	$405K	$810K	15x	as long as short
Paradex CL-USD-PERP	−0.0004%	8h	93.012	−0.063%	$16K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	93.090	+0.020%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.073	+0.002%	$26.7M	$79.1M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.058	−0.014%	$3.0M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.170	+0.106%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.064	−0.008%	$18K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.620	−0.485%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0024%	1h	93.110	+0.042%	$1.7M	$15.2M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.180	+0.117%	$738K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.070	−0.001%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.048	−0.025%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.073	+0.002%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.029	−0.045%	$347K	$593K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.037	−0.037%	$7.0M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.190	+0.128%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.039	−0.034%	$4K	—	10x	as long as short
BloFin CL-USDTshort	+0.0166%	4h	93.090	+0.020%	$4.1M	$983K	50x
Injective WTI/USDC PERP	+0.0220%	1h	102.45	+10.077%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0244% / S −0.0169%	1h	93.045	−0.028%	$78K	—	111x	as long as short