Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0015%/8h= +1.6% APRpaid last 24h +0.007%

Price spread now: edgeX against Bullet−0.082%7-day average −0.012% · 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−$49as in the Price arb table

costs, in and out, $10k−$420.418% of the position

Long on Bullet Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.066%−$7 on $10k

Price spread, last 3 days (all we have)+0.058%+$6 · spread now −0.082%, 7d avg −0.012%

Together, before fees−0.008%+ Points / potential airdropedgeX: Active · farm board−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.070% cheaper against Bullet than usual: you would sell low and buy high (spread −0.082% now, against its 7-day average of −0.012%). If the spread goes back, that is −$7 on $10k: about 16 days of funding at the current rate ($0 a day). Mind the row above: over the last 3 days funding on this pair cost −0.066%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet WTIOIL-USD	92.561	0	get 0.0000% / 1h	24m 47s	$19K	$241K	10x
Short	edgeX CLUSDC	92.485	0.0015	get 0.0007% / 4h	3h 24m	$532K	$298K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.082%Rate

Funding earned: $3.14
Price spread: −0.082% → −0.012%: −$7.04
Slippage, 4 orders: −$24.77
Fee Bullet: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$45.66
Costs to cover: 0.418%
Break-even: 108.7 days

Slippage from Bullet: live order book, 49 min ago; edgeX: live order book, 49 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, 49 min ago	0.54 bp	6.3 bp −$6	17.2 bp −$172	doesn't fit	doesn't fit
Sell edgeX live order book, 49 min ago	9.98 bp	14.5 bp −$14	14.9 bp −$149	21.4 bp −$2,139	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	−0.0614%	1h	92.510	−0.055%	$108K	$234K	15x	as long as short
GRVT CL_USDT_Perp	−0.0350%	4h	92.486	−0.081%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0333%	4h	92.557	−0.005%	$24.0M	$78.7M	20x	as long as short
Binance CLUSDT	−0.0272%	4h	92.566	+0.005%	$245.3M	$1.06B	100x	as long as short
Variational Omni CL	−0.0265%	4h	92.480	−0.088%	$13.1M	$12.2M	—	as long as short
Gate CL_USDT	−0.0212%	8h	92.490	−0.077%	$21.3M	$55.1M	100x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.577	+0.018%	$274K	$1.1M	25x	as long as short
Nado WTI-PERP	−0.0067%	1h	92.608	+0.051%	$933K	$732K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0047%	1h	92.500	−0.066%	$3.5M	$6.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.574%	$399K	$959K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0040%	1h	92.540	−0.023%	$2.4M	$2.1M	10x	as long as short
tradeXYZ xyz:CL	−0.0024%	1h	92.569	+0.009%	$186.8M	$235.7M	20x	as long as short
Paradex CL-USD-PERP	−0.0006%	8h	92.546	−0.016%	$15K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	92.582	+0.022%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.590	+0.031%	$26.4M	$92.1M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.550	−0.012%	$43.0M	$111.1M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.679	+0.127%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.554	−0.008%	$42.1M	$50.7M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.500	−0.066%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USDlong	0.0000%	1h	92.561	long leg	$19K	$241K	10x
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.109	−0.488%	$5K	—	150x	as long as short
edgeX CLUSDCshort	+0.0015%	4h	92.485	−0.082%	$532K	$298K	30x
Lighter WTI	+0.0016%	1h	92.565	+0.004%	$11.2M	$10.1M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.590	+0.031%	$2.3M	$26.7M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.380	−0.196%	$723K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.560	−0.001%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.570	+0.010%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.555	−0.006%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.569	+0.009%	$356K	$603K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.582	+0.023%	$7.2M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.560	−0.001%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.519	−0.046%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.555	−0.006%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.56	+9.718%	$19K	$11K	30x	as long as short
Aftermath Perps WTIUSD	+0.0233%	1h	92.511	−0.054%	$2K	$28K	5x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.480	−0.088%	$4.0M	$1.4M	50x	as long as short