Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0157%/8h= −17.2% APRpaid last 24h −0.054%

Price spread now: SoDEX against BloFin+0.027%56s7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$530.535% of the position

Long on BloFin Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.155%−$15 on $10k

Price spread, last 4 days (all we have)−0.035%−$3 · spread now +0.027%, 7d avg +0.001%

Together, before fees−0.189%−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SoDEX is 0.026% dearer against BloFin than usual: you sell high and buy low (spread +0.027% now, against its 7-day average of +0.001%): +$3 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 13 hours. The two prices were read 56 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	93.220	0.0207	pay 0.0103% / 4h	3h 41m	$4.0M	$1.0M	50x
Short	SoDEX CL-USD	93.245	0.0050	get 0.0006% / 1h	41m 27s	$2.1M	$60K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$32.91
Price spread: +0.027% → +0.001%: $2.6
Slippage, 4 orders: −$33.47
Fee BloFin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$83.78
Costs to cover: 0.535%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; SoDEX: live order book, 3 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	0.54 bp	6.5 bp −$7	6.5 bp −$65	10.6 bp −$1,057	24.8 bp −$12.4K
Sell SoDEX live order book, 3 min ago	0.54 bp	18.8 bp −$19	97.3 bp −$973	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	−0.0608%	1h	93.210	−0.011%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0263%	4h	93.310	+0.097%	$24.1M	$66.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0226%	4h	93.196	−0.026%	$54K	$645K	25x	as long as short
Binance CLUSDT	−0.0173%	4h	93.288	+0.073%	$245.5M	$940.7M	100x	as long as short
Variational Omni CL	−0.0160%	4h	93.169	−0.055%	$13.4M	$10.8M	—	as long as short
Nado WTI-PERP	−0.0130%	1h	93.321	+0.108%	$965K	$636K	10x	as long as short
Bitget CLUSDT	−0.0122%	4h	93.277	+0.061%	$42.0M	$43.3M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0118%	1h	93.230	+0.011%	$3.5M	$5.3M	20x	as long as short
Aftermath Perps WTIUSD	−0.0112%	1h	93.222	+0.002%	$2K	$27K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.238	+0.019%	$277K	$960K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0052%	8h	93.240	+0.021%	$21.1M	$51.0M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.190	−0.032%	$401K	$927K	15x	as long as short
QFEX CL-USD	−0.0033%	1h	93.260	+0.043%	$2.3M	$1.8M	10x	as long as short
OKX CL-USDT-SWAP	−0.0031%	4h	93.290	+0.075%	$42.7M	$103.0M	50x	as long as short
edgeX CLUSDC	−0.0017%	4h	93.238	+0.019%	$524K	$305K	30x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.300	+0.086%	$37K	$41K	20x	as long as short
KuCoin CLUSDTM	−0.0008%	4h	93.302	+0.088%	$7.1M	$2.4M	50x	as long as short
tradeXYZ xyz:CL	−0.0004%	1h	93.299	+0.085%	$184.8M	$219.0M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.272	+0.056%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.310	+0.097%	$27.0M	$80.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.356	+0.146%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.293	+0.078%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.848	−0.399%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0017%	8h	93.268	+0.052%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	93.254	+0.036%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.330	+0.118%	$2.0M	$19.4M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.180	−0.043%	$737K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.280	+0.064%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.286	+0.071%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USDshort	+0.0050%	1h	93.245	+0.027%	$2.1M	$60K	20x
Pacifica CL	+0.0100%	1h	93.276	+0.060%	$331K	$597K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.290	+0.075%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.209	−0.011%	$4K	—	10x	as long as short
BloFin CL-USDTlong	+0.0207%	4h	93.220	long leg	$4.0M	$1.0M	50x
GMX WTIOIL/USD [ETH-USDC]	L +0.0220% / S −0.0148%	1h	93.285	+0.070%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.17	+9.597%	$19K	$11K	30x	as long as short