Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0508%/8h= −55.6% APRpaid last 24h −0.092%

Price spread now: Gate against BloFin−0.054%93s7-day average −0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$94as 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−$340.337% of the position

Long on BloFin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.602%−$60 on $10k

Price spread, last 3 days (all we have)+0.099%+$10 · spread now −0.054%, 7d avg −0.056%

Together, before fees−0.503%−$50 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.056%, so right now this pair is about funding alone: −$15 a day on $10k at the current rate. The two prices were read 93 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	BloFin CL-USDT	92.120	0.0240	pay 0.0120% / 4h	3h 51m	$4.0M	$1.4M	50x
Short	Gate CL_USDT	92.070	−0.0268	pay 0.0268% / 8h	7h 51m	$21.3M	$54.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against BloFin. 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 BloFinbpFee GatebpOrdersPrice spread, now −0.054%Rate

Funding earned: −$106.68
Price spread: −0.054% → −0.056%: $0.16
Slippage, 4 orders: −$6.71
Fee BloFin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$140.23
Costs to cover: 0.337%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; Gate: 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 BloFin live order book, 2 min ago	1.09 bp	7.1 bp −$7	8.5 bp −$85	13.5 bp −$1,353	30.7 bp −$15.4K
Sell Gate live order book, 2 min ago	0.54 bp	9.7 bp −$10	13.2 bp −$132	26.3 bp −$2,634	34.7 bp −$17.4K

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
GRVT CL_USDT_Perp	−0.0536%	4h	92.166	+0.050%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0315%	4h	92.162	+0.046%	$23.8M	$79.1M	20x	as long as short
Gate CL_USDTshort	−0.0268%	8h	92.070	−0.054%	$21.3M	$54.3M	100x
Binance CLUSDT	−0.0245%	4h	92.131	+0.012%	$245.0M	$1.09B	100x	as long as short
Variational Omni CL	−0.0223%	4h	92.093	−0.030%	$13.2M	$12.7M	—	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0184%	1h	92.210	+0.098%	$96K	$189K	15x	as long as short
Bybit CLUSDT	−0.0157%	8h	92.140	+0.022%	$26.0M	$93.7M	150x	as long as short
Nado WTI-PERP	−0.0127%	1h	92.201	+0.088%	$923K	$732K	10x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.220	+0.109%	$273K	$1.2M	25x	as long as short
Ondo Perps WTI-USD.P	−0.0091%	1h	92.180	+0.065%	$3.5M	$6.2M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0066%	1h	92.167	+0.051%	$185.7M	$261.4M	20x	as long as short
Lighter WTI	−0.0048%	1h	92.146	+0.028%	$11.2M	$9.9M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.098%	$399K	$961K	15x	as long as short
QFEX CL-USD	−0.0040%	1h	92.150	+0.033%	$2.4M	$2.2M	10x	as long as short
Paradex CL-USD-PERP	−0.0033%	8h	92.136	+0.018%	$15K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	92.235	+0.125%	$8K	$3K	5x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.130	+0.011%	$42.9M	$111.2M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.264	+0.156%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.135	+0.016%	$41.9M	$51.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.280	+0.174%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.194	+0.080%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.784	−0.365%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	92.190	+0.076%	$2.0M	$26.7M	10x	as long as short
edgeX CLUSDC	+0.0036%	4h	92.162	+0.046%	$530K	$306K	30x	as long as short
StandX CL-USD	+0.0040%	1h	92.190	+0.076%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.200	+0.087%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.203	+0.090%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.180	+0.065%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.146	+0.029%	$353K	$596K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.182	+0.067%	$7.2M	$2.3M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.240	+0.130%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.206	+0.093%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0205% / S −0.0131%	1h	92.195	+0.081%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.38	+10.054%	$19K	$11K	30x	as long as short
BloFin CL-USDTlong	+0.0240%	4h	92.120	long leg	$4.0M	$1.4M	50x
Aftermath Perps WTIUSD	+0.0446%	1h	92.161	+0.045%	$2K	$29K	5x	as long as short