CL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0501%/8h= +54.8% APRnext payment +$0.63 per $10,000 · paid last 24h +0.052%

Price spread now: Bullet against Deribit+0.036%7-day average −0.003% · 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−$20as in the Price arb table

costs, in and out, $10k−$240.241% of the position

Long on Deribit Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.049%+$5 on $10k

Price spread, last 4 days (all we have)+0.011%+$1 · spread now +0.036%, 7d avg −0.003%

Together, before fees+0.060%+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Bullet is 0.040% dearer against Deribit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.003%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.049% in total (about 5.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.63 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	Deribit WTIOIL_USDC-PERPETUAL	93.170	−0.0501	get 0.0063% / 1h	4m 33s	$194K	$398K	15x
Short	Bullet WTIOIL-USD	93.204	0	get 0.0000% / 1h	4m 33s	$18K	$240K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Deribit. 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 DeribitbpFee BulletbpOrdersPrice spread, now +0.036%Rate

Funding earned: $105.16
Price spread: +0.036% → −0.003%: $3.99
Slippage, 4 orders: −$9.08
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bullet: 4 bp × 2 orders: −$8
Net: $85.07
Costs to cover: 0.241%
Break-even: 1.3 days

Slippage from Deribit: live order book, 34 min ago; Bullet: live order book, 34 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 Deribit live order book, 34 min ago	0.54 bp	4.0 bp −$4	6.2 bp −$62	doesn't fit	doesn't fit
Sell Bullet live order book, 34 min ago	1.50 bp	7.5 bp −$8	18.8 bp −$188	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-PERPETUALlong	−0.0501%	1h	93.170	long leg	$194K	$398K	15x
Aster CLUSD1	−0.0253%	4h	93.140	−0.032%	$24.8M	$62.1M	20x	as long as short
GRVT CL_USDT_Perp	−0.0218%	4h	93.231	+0.065%	$75K	$634K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0209%	1h	93.196	+0.028%	$274K	$925K	25x	as long as short
Binance CLUSDT	−0.0140%	4h	93.100	−0.075%	$246.5M	$922.8M	100x	as long as short
Gate CL_USDT	−0.0138%	8h	93.050	−0.129%	$23.2M	$50.8M	100x	as long as short
Variational Omni CL	−0.0130%	4h	93.192	+0.024%	$13.6M	$10.8M	—	as long as short
Nado WTI-PERP	−0.0109%	1h	93.206	+0.039%	$954K	$613K	10x	as long as short
Bitget CLUSDT	−0.0102%	4h	93.100	−0.075%	$42.2M	$41.4M	100x	as long as short
Aftermath Perps WTIUSD	−0.0084%	1h	93.157	−0.014%	$1K	$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	−0.0069%	4h	93.100	−0.075%	$42.6M	$103.0M	50x	as long as short
edgeX CLUSDC	−0.0042%	4h	93.256	+0.093%	$525K	$324K	30x	as long as short
QFEX CL-USD	−0.0038%	1h	93.110	−0.064%	$2.3M	$2.4M	10x	as long as short
tradeXYZ xyz:CL	−0.0017%	1h	93.136	−0.036%	$184.3M	$196.4M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.397%	$405K	$810K	15x	as long as short
Lighter WTI	−0.0008%	1h	93.109	−0.065%	$11.2M	$9.2M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0004%	1h	93.090	−0.086%	$3.6M	$5.3M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.133	−0.039%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.120	−0.054%	$27.0M	$79.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.144	−0.028%	$3.0M	$2.8M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.240	+0.075%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USDshort	0.0000%	1h	93.204	+0.036%	$18K	$240K	10x
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.755	−0.445%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0011%	8h	93.108	−0.066%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.150	−0.021%	$1.7M	$15.0M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.210	+0.043%	$736K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.130	−0.043%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.168	−0.002%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.198	+0.030%	$2.1M	$62K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.130	−0.043%	$347K	$589K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.145	−0.027%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.290	+0.129%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.174	+0.004%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0168%	4h	93.180	+0.011%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.621%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0261% / S −0.0208%	1h	93.185	+0.016%	$84K	—	111x	as long as short