Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h −0.014%

Price spread now: tradeXYZ against Bitget+0.012%7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$340.340% of the position

Long on Bitget Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.105%+$10 on $10k

Price spread, last 7 days−0.015%−$1 · spread now +0.012%, 7d avg −0.019%

Together, before fees+0.090%+ Points / potential airdroptradeXYZ: Active · farm board+$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. tradeXYZ is 0.031% dearer against Bitget than usual: you sell high and buy low (spread +0.012% now, against its 7-day average of −0.019%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 45 hours. Mind the row above: over the last 7 days funding on this pair paid +0.105%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CLUSDT	92.773	0	get 0.0000% / 4h	2h 56m	$42.2M	$47.2M	100x
Short	tradeXYZ xyz:CL	92.784	−0.0055	pay 0.0007% / 1h	56m 14s	$186.0M	$235.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.012%Rate

Funding earned: −$11.46
Price spread: +0.012% → −0.019%: $3.07
Slippage, 4 orders: −$4.04
Fee Bitget: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$42.43
Costs to cover: 0.340%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; tradeXYZ: live order book, 4 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 Bitget live order book, 3 min ago	0.54 bp	7.4 bp −$7	8.7 bp −$87	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 4 min ago	0.22 bp	9.5 bp −$10	10.5 bp −$105	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	−0.0504%	1h	92.740	−0.036%	$198K	$366K	15x	as long as short
Aster CLUSD1	−0.0336%	4h	92.797	+0.026%	$24.0M	$74.9M	20x	as long as short
GRVT CL_USDT_Perp	−0.0328%	4h	92.784	+0.012%	$58K	$630K	25x	as long as short
Binance CLUSDT	−0.0283%	4h	92.790	+0.018%	$244.8M	$1.02B	100x	as long as short
Variational Omni CL	−0.0273%	4h	92.761	−0.013%	$13.3M	$11.4M	—	as long as short
Gate CL_USDT	−0.0188%	8h	92.740	−0.036%	$21.1M	$52.3M	100x	as long as short
Nado WTI-PERP	−0.0058%	1h	92.853	+0.086%	$936K	$696K	10x	as long as short
tradeXYZ xyz:CLshort	−0.0055%	1h	92.784	+0.012%	$186.0M	$235.2M	20x
Ondo Perps WTI-USD.P	−0.0050%	1h	92.790	+0.018%	$3.5M	$5.9M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.030	−0.801%	$399K	$949K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.801	+0.030%	$275K	$905K	25x	as long as short
QFEX CL-USD	−0.0033%	1h	92.800	+0.029%	$2.4M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0006%	4h	92.780	+0.008%	$43.1M	$108.0M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.832	+0.063%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.809	+0.039%	$26.4M	$86.4M	150x	as long as short
Bitget CLUSDTlong	0.0000%	4h	92.773	long leg	$42.2M	$47.2M	100x
Phoenix WTIOIL	0.0000%	1h	92.860	+0.094%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.777	+0.004%	$19K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.332	−0.475%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0008%	1h	92.820	+0.051%	$2.1M	$25.4M	10x	as long as short
Paradex CL-USD-PERP	+0.0014%	8h	92.800	+0.029%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	92.784	+0.012%	$11.2M	$10.0M	20x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.924	+0.163%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.350	−0.456%	$722K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.810	+0.040%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.804	+0.033%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.775	+0.002%	$2.1M	$58K	20x	as long as short
KuCoin CLUSDTM	+0.0076%	4h	92.798	+0.027%	$7.2M	$2.3M	50x	as long as short
edgeX CLUSDC	+0.0089%	4h	92.726	−0.051%	$533K	$300K	30x	as long as short
Aftermath Perps WTIUSD	+0.0100%	1h	92.774	+0.002%	$2K	$28K	5x	as long as short
Pacifica CL	+0.0100%	1h	92.814	+0.044%	$355K	$605K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.870	+0.105%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.744	−0.032%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.775	+0.002%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.93	+9.874%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0235%	4h	92.770	−0.003%	$4.0M	$1.2M	50x	as long as short