CL

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0040%/8h= +4.4% APRnext payment +$0.05 per $10,000 · paid last 24h −0.001%

Price spread now: Bullet against Coinbase International−0.083%7-day average +0.118% · 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−$52as in the Price arb table

costs, in and out, $10k−$310.314% of the position

Long on Coinbase International Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.147%+$15 on $10k

Price spread, last 4 days (all we have)+0.178%+$18 · spread now −0.083%, 7d avg +0.118%

Together, before fees+0.325%+$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bullet is 0.201% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.083% now, against its 7-day average of +0.118%). If the spread goes back, that is −$20 on $10k: about 17 days of funding at the current rate (+$1 a day). At the pace of the last 3 days (+0.147% in total) that is about 4.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WTIOIL-PERP-INTX	93.500	−0.0040	get 0.0005% / 1h	3m 53s	$404K	$931K	15x
Short	Bullet WTIOIL-USD	93.422	0	get 0.0000% / 1h	3m 53s	$18K	$240K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Coinbase International. 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 Coinbase InternationalbpFee BulletbpOrdersPrice spread, now −0.083%Rate

Funding earned: $8.4
Price spread: −0.083% → +0.118%: −$20.12
Slippage, 4 orders: −$13.44
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$43.16
Costs to cover: 0.314%
Break-even: 43.0 days

Slippage from Coinbase International: live order book, 19 min ago; Bullet: live order book, 45 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 Coinbase International live order book, 19 min ago	1.61 bp	8.6 bp −$9	11.0 bp −$110	doesn't fit	doesn't fit
Sell Bullet live order book, 45 min ago	1.55 bp	7.4 bp −$7	18.4 bp −$184	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	−0.0285%	1h	93.390	−0.118%	$196K	$377K	15x	as long as short
Aster CLUSD1	−0.0274%	4h	93.426	−0.079%	$24.4M	$64.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0274%	4h	93.368	−0.142%	$58K	$629K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.437	−0.067%	$285K	$959K	25x	as long as short
Binance CLUSDT	−0.0169%	4h	93.396	−0.111%	$246.3M	$931.3M	100x	as long as short
Variational Omni CL	−0.0163%	4h	93.349	−0.162%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0148%	1h	93.406	−0.101%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0120%	4h	93.382	−0.126%	$42.1M	$42.7M	100x	as long as short
Nado WTI-PERP	−0.0105%	1h	93.458	−0.045%	$971K	$630K	10x	as long as short
Gate CL_USDT	−0.0083%	8h	93.330	−0.182%	$22.1M	$50.4M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps WTI-USD.P	−0.0077%	1h	93.310	−0.203%	$3.5M	$5.4M	20x	as long as short
tradeXYZ xyz:CL	−0.0076%	1h	93.380	−0.128%	$184.8M	$212.3M	20x	as long as short
Coinbase International WTIOIL-PERP-INTXlong	−0.0040%	1h	93.500	long leg	$404K	$931K	15x
OKX CL-USDT-SWAP	−0.0037%	4h	93.410	−0.096%	$42.6M	$101.9M	50x	as long as short
QFEX CL-USD	−0.0032%	1h	93.400	−0.107%	$2.3M	$2.5M	10x	as long as short
edgeX CLUSDC	−0.0001%	4h	93.375	−0.133%	$525K	$306K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	93.405	−0.101%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.420	−0.086%	$27.0M	$79.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.463	−0.039%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.540	+0.043%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USDshort	0.0000%	1h	93.422	−0.083%	$18K	$240K	10x
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.961	−0.576%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0021%	8h	93.393	−0.114%	$16K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	93.413	−0.093%	$11.3M	$10.0M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.430	−0.075%	$2.0M	$16.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.410	−0.096%	$739K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.400	−0.107%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.407	−0.099%	$332K	$577K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.403	−0.104%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.418	−0.088%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0098%	4h	93.418	−0.088%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.460	−0.043%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.384	−0.124%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0202%	4h	93.370	−0.139%	$4.0M	$988K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.64	+9.781%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0241% / S −0.0174%	1h	93.415	−0.091%	$84K	—	111x	as long as short