Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0272%/8h= −29.8% APRpaid last 24h −0.038%

Price spread now: Aster against Bullet−0.031%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−$30as in the Price arb table

costs, in and out, $10k−$270.266% of the position

Long on Bullet Short on Aster

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)−0.062%−$6 · spread now −0.031%, 7d avg +0.001%

Together, before fees−0.109%+ Points / potential airdropAster: Stage 5 · farm board−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Aster is 0.032% cheaper against Bullet than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.001%). Swap the legs.

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	Bullet WTIOIL-USD	92.989	0	get 0.0000% / 1h	13m 52s	$18K	$239K	10x
Short	Aster CLUSD1	92.960	−0.0272	pay 0.0136% / 4h	13m 52s	$24.8M	$62.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Bullet. 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 BulletbpFee AsterbpOrdersPrice spread, now −0.031%Rate

Funding earned: −$57.17
Price spread: −0.031% → +0.001%: −$3.17
Slippage, 4 orders: −$10.58
Fee Bullet: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$86.93
Costs to cover: 0.266%
Break-even: never at this rate

Slippage from Bullet: live order book, 25 min ago; Aster: live order book, 5 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 Bullet live order book, 25 min ago	1.50 bp	8.5 bp −$8	17.1 bp −$171	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	1.08 bp	5.5 bp −$6	6.1 bp −$61	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	−0.0610%	1h	92.920	−0.074%	$194K	$397K	15x	as long as short
Aster CLUSD1short	−0.0272%	4h	92.960	−0.031%	$24.8M	$62.8M	20x
GRVT CL_USDT_Perp	−0.0244%	4h	92.942	−0.050%	$77K	$622K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0210%	1h	92.981	−0.009%	$275K	$929K	25x	as long as short
Binance CLUSDT	−0.0151%	4h	92.930	−0.063%	$246.7M	$922.1M	100x	as long as short
Variational Omni CL	−0.0143%	4h	92.971	−0.020%	$13.5M	$10.7M	—	as long as short
Gate CL_USDT	−0.0135%	8h	92.870	−0.128%	$23.0M	$50.3M	100x	as long as short
Bitget CLUSDT	−0.0116%	4h	92.920	−0.074%	$42.2M	$41.6M	100x	as long as short
Nado WTI-PERP	−0.0112%	1h	93.017	+0.031%	$953K	$616K	10x	as long as short
Aftermath Perps WTIUSD	−0.0100%	1h	92.998	+0.009%	$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	−0.0081%	4h	92.920	−0.074%	$42.6M	$102.8M	50x	as long as short
edgeX CLUSDC	−0.0079%	4h	92.903	−0.092%	$522K	$306K	30x	as long as short
QFEX CL-USD	−0.0038%	1h	93.020	+0.033%	$2.3M	$2.4M	10x	as long as short
tradeXYZ xyz:CL	−0.0020%	1h	92.931	−0.062%	$184.0M	$198.1M	20x	as long as short
Lighter WTI	−0.0016%	1h	92.938	−0.055%	$11.2M	$9.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.593%	$405K	$810K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0014%	1h	92.960	−0.031%	$3.6M	$5.3M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.993	+0.004%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.940	−0.053%	$26.8M	$79.3M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.037	+0.052%	$3.0M	$2.8M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.990	+0.001%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USDlong	0.0000%	1h	92.989	long leg	$18K	$239K	10x
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.536	−0.487%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0004%	8h	92.949	−0.043%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	92.950	−0.042%	$1.7M	$15.2M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.060	+0.076%	$737K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.000	+0.012%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.000	+0.012%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.955	−0.037%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.982	−0.008%	$346K	$591K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.941	−0.052%	$7.0M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.020	+0.033%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.943	−0.050%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0158%	4h	93.020	+0.033%	$4.1M	$982K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.834%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0258% / S −0.0205%	1h	93.005	+0.017%	$83K	—	111x	as long as short