Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0078%/8h= +8.5% APRpaid last 24h +0.001%

Price spread now: Ondo Perps against Bitget−0.011%7-day average −0.068% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.231%+$23 on $10k

Price spread, last 7 days−0.263%−$26 · spread now −0.011%, 7d avg −0.068%

Together, before fees−0.032%+ Points / potential airdropOndo Perps: Active · farm board−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Ondo Perps is 0.057% dearer against Bitget than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CLUSDT	93.590	−0.0114	get 0.0057% / 4h	1h 54m	$42.2M	$42.7M	100x
Short	Ondo Perps WTI-USD.P	93.580	−0.0036	pay 0.0005% / 1h	54m 39s	$3.5M	$5.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Bitget. 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 BitgetbpFee Ondo PerpsbpOrdersPrice spread, now −0.011%Rate

Funding earned: $16.38
Price spread: −0.011% → −0.068%: $5.74
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $5.12
Costs to cover: 0.170%
Break-even: 4.8 days

Slippage unknown: Bitget: live order book, 4 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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 Bitget live order book, 4 min ago	0.43 bp	7.5 bp −$8	10.7 bp −$107	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0391%	1h	93.490	−0.107%	$196K	$379K	15x	as long as short
Aster CLUSD1	−0.0272%	4h	93.586	−0.004%	$24.5M	$64.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0264%	4h	93.559	−0.033%	$58K	$629K	25x	as long as short
Binance CLUSDT	−0.0159%	4h	93.580	−0.010%	$246.5M	$928.9M	100x	as long as short
Variational Omni CL	−0.0153%	4h	93.499	−0.098%	$13.4M	$10.8M	—	as long as short
Aftermath Perps WTIUSD	−0.0147%	1h	93.518	−0.077%	$2K	$26K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0137%	1h	93.520	−0.075%	$286K	$956K	25x	as long as short
Bitget CLUSDTlong	−0.0114%	4h	93.590	long leg	$42.2M	$42.7M	100x
Gate CL_USDT	−0.0088%	8h	93.460	−0.139%	$22.2M	$48.2M	100x	as long as short
edgeX CLUSDC	−0.0051%	4h	93.497	−0.099%	$526K	$305K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps WTI-USD.Pshort	−0.0036%	1h	93.580	−0.011%	$3.5M	$5.4M	20x
tradeXYZ xyz:CL	−0.0034%	1h	93.544	−0.049%	$184.8M	$210.3M	20x	as long as short
OKX CL-USDT-SWAP	−0.0028%	4h	93.590	0.000%	$42.7M	$101.9M	50x	as long as short
QFEX CL-USD	−0.0023%	1h	93.520	−0.075%	$2.3M	$2.5M	10x	as long as short
Nado WTI-PERP	−0.0020%	1h	93.536	−0.058%	$969K	$629K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0008%	1h	93.500	−0.096%	$404K	$931K	15x	as long as short
dYdX WTI-USD	0.0000%	1h	93.513	−0.082%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.600	+0.011%	$27.1M	$79.4M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.568	−0.024%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.570	−0.021%	$38K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.517	−0.078%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.079	−0.546%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0026%	8h	93.534	−0.059%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	93.545	−0.048%	$11.3M	$9.6M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.560	−0.032%	$2.0M	$16.3M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.450	−0.150%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.530	−0.064%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.522	−0.073%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.504	−0.092%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.577	−0.014%	$333K	$577K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.600	+0.011%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.560	−0.032%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.489	−0.108%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0209%	4h	93.560	−0.032%	$4.0M	$980K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.74	+9.781%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0243% / S −0.0176%	1h	93.535	−0.059%	$84K	—	111x	as long as short