Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0270%/8h= +29.6% APRpaid last 24h +0.038%

Price spread now: Bullet against Aster−0.067%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−$32as in the Price arb table

costs, in and out, $10k−$250.251% of the position

Long on Aster Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.048%+$5 on $10k

Price spread, last 4 days (all we have)+0.160%+$16 · spread now −0.067%, 7d avg −0.001%

Together, before fees+0.208%+ Points / potential airdropAster: Stage 5 · farm board+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bullet is 0.067% cheaper against Aster than usual: you would sell low and buy high (spread −0.067% now, against its 7-day average of −0.001%). If the spread goes back, that is −$7 on $10k: about 20 hours of funding at the current rate (+$8 a day). At the pace of the last 4 days (+0.048% in total) that is about 5.0 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.048% in total (about 4.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster CLUSD1	93.077	−0.0270	get 0.0135% / 4h	12m 15s	$24.8M	$62.8M	20x
Short	Bullet WTIOIL-USD	93.014	0	get 0.0000% / 1h	12m 15s	$18K	$239K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Aster. 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 AsterbpFee BulletbpOrdersPrice spread, now −0.067%Rate

Funding earned: $56.74
Price spread: −0.067% → −0.001%: −$6.68
Slippage, 4 orders: −$9.08
Fee Aster: 4 bp × 2 orders: −$8
Fee Bullet: 4 bp × 2 orders: −$8
Net: $24.98
Costs to cover: 0.251%
Break-even: 3.9 days

Slippage from Aster: live order book, 2 min ago; Bullet: live order book, 27 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 Aster live order book, 2 min ago	0.54 bp	4.5 bp −$5	5.2 bp −$52	doesn't fit	doesn't fit
Sell Bullet live order book, 27 min ago	1.50 bp	7.5 bp −$8	18.8 bp −$188	doesn't fit	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
Deribit WTIOIL_USDC-PERPETUAL	−0.0395%	1h	93.030	−0.050%	$194K	$397K	15x	as long as short
Aster CLUSD1long	−0.0270%	4h	93.077	long leg	$24.8M	$62.8M	20x
GRVT CL_USDT_Perp	−0.0238%	4h	93.007	−0.075%	$77K	$622K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0210%	1h	93.037	−0.043%	$275K	$929K	25x	as long as short
Binance CLUSDT	−0.0150%	4h	93.052	−0.027%	$247.0M	$921.4M	100x	as long as short
Variational Omni CL	−0.0143%	4h	92.971	−0.114%	$13.5M	$10.7M	—	as long as short
Gate CL_USDT	−0.0134%	8h	92.970	−0.115%	$23.0M	$50.3M	100x	as long as short
Bitget CLUSDT	−0.0114%	4h	93.086	+0.010%	$42.3M	$41.6M	100x	as long as short
Nado WTI-PERP	−0.0112%	1h	93.021	−0.060%	$953K	$614K	10x	as long as short
Aftermath Perps WTIUSD	−0.0098%	1h	92.991	−0.092%	$2K	$26K	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	−0.0080%	4h	93.030	−0.050%	$42.7M	$102.8M	50x	as long as short
QFEX CL-USD	−0.0038%	1h	92.970	−0.115%	$2.3M	$2.4M	10x	as long as short
edgeX CLUSDC	−0.0021%	4h	93.014	−0.067%	$523K	$306K	30x	as long as short
tradeXYZ xyz:CL	−0.0019%	1h	93.019	−0.062%	$184.2M	$198.1M	20x	as long as short
Lighter WTI	−0.0016%	1h	92.933	−0.155%	$11.2M	$9.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.497%	$405K	$810K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0011%	1h	92.940	−0.147%	$3.6M	$5.3M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.993	−0.091%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.060	−0.018%	$26.8M	$79.2M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.007	−0.075%	$3.0M	$2.8M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.950	−0.136%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USDshort	0.0000%	1h	93.014	−0.067%	$18K	$239K	10x
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.611	−0.501%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0005%	8h	92.942	−0.145%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.070	−0.008%	$1.7M	$15.1M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.970	−0.115%	$737K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.990	−0.093%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.000	−0.083%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.060	−0.018%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.968	−0.117%	$346K	$591K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.015	−0.067%	$7.0M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.990	−0.093%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.026	−0.055%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0159%	4h	92.940	−0.147%	$4.0M	$982K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.731%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0259% / S −0.0205%	1h	93.045	−0.034%	$83K	—	111x	as long as short