CL

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0611%/8h= −66.9% APRnext payment −$0.76 per $10,000 · paid last 24h −0.020%

Price spread now: Deribit against Bullet−0.026%7-day average +0.006% · 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−$24as in the Price arb table

costs, in and out, $10k−$210.209% of the position

Long on Bullet Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.016%−$2 on $10k

Price spread, last 4 days (all we have)−0.307%−$31 · spread now −0.026%, 7d avg +0.006%

Together, before fees−0.323%−$32 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Deribit 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 +0.006%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.016% in total (about -1.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.76 per $10,000. 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	92.884	0	get 0.0000% / 1h	27m 44s	$18K	$241K	10x
Short	Deribit WTIOIL_USDC-PERPETUAL	92.860	−0.0611	pay 0.0076% / 1h	27m 44s	$198K	$369K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$128.26
Price spread: −0.026% → +0.006%: −$3.2
Slippage, 4 orders: −$5.88
Fee Bullet: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$152.35
Costs to cover: 0.209%
Break-even: never at this rate

Slippage from Bullet: live order book, 36 min ago; Deribit: live order book, 36 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, 36 min ago	0.54 bp	6.4 bp −$6	17.3 bp −$173	doesn't fit	doesn't fit
Sell Deribit live order book, 36 min ago	0.54 bp	4.0 bp −$4	7.1 bp −$71	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-PERPETUALshort	−0.0611%	1h	92.860	−0.026%	$198K	$369K	15x
Aster CLUSD1	−0.0249%	4h	92.890	+0.007%	$23.9M	$68.4M	20x	as long as short
GRVT CL_USDT_Perp	−0.0234%	4h	92.800	−0.090%	$61K	$625K	25x	as long as short
Binance CLUSDT	−0.0208%	4h	92.898	+0.015%	$245.0M	$954.7M	100x	as long as short
Variational Omni CL	−0.0203%	4h	92.796	−0.095%	$13.5M	$11.1M	—	as long as short
Ondo Perps WTI-USD.P	−0.0166%	1h	92.780	−0.112%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0154%	1h	92.941	+0.062%	$962K	$663K	10x	as long as short
Gate CL_USDT	−0.0087%	8h	92.840	−0.047%	$20.9M	$52.5M	100x	as long as short
edgeX CLUSDC	−0.0071%	4h	92.795	−0.096%	$528K	$303K	30x	as long as short
tradeXYZ xyz:CL	−0.0066%	1h	92.910	+0.028%	$184.7M	$218.3M	20x	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	−0.0052%	4h	92.870	−0.015%	$42.8M	$102.1M	50x	as long as short
Aftermath Perps WTIUSD	−0.0046%	1h	92.851	−0.036%	$2K	$27K	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.144%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	92.870	−0.015%	$2.5M	$1.7M	10x	as long as short
Extended WTI-USD	−0.0024%	1h	92.940	+0.060%	$2.1M	$22.7M	10x	as long as short
Lighter WTI	0.0000%	1h	92.899	+0.016%	$11.2M	$10.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.862	−0.024%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.913	+0.031%	$26.5M	$81.1M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.893	+0.010%	$42.0M	$43.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	−0.101%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USDlong	0.0000%	1h	92.884	long leg	$18K	$241K	10x
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.461	−0.455%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0018%	8h	92.875	−0.010%	$16K	$367	5x	as long as short
KuCoin CLUSDTM	+0.0036%	4h	92.892	+0.009%	$7.3M	$2.3M	50x	as long as short
StandX CL-USD	+0.0040%	1h	92.470	−0.446%	$727K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.890	+0.007%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.891	+0.008%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.884	0.000%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	93.001	+0.127%	$3.3M	$2.7M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.878	−0.006%	$331K	$619K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.860	−0.026%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.853	−0.034%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.917	+0.036%	$273K	$873K	25x	as long as short
BloFin CL-USDT	+0.0192%	4h	92.810	−0.080%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.885	+0.001%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.95	+9.765%	$19K	$11K	30x	as long as short