Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0112%/8h= −12.2% APRpaid last 24h +0.002%

Price spread now: Bullet against edgeX+0.025%7-day average +0.012% · 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−$41as in the Price arb table

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

Long on edgeX Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.071%+$7 on $10k

Price spread, last 3 days (all we have)−0.006%−$1 · spread now +0.025%, 7d avg +0.012%

Together, before fees+0.065%+ Points / potential airdropedgeX: Active · farm board+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.012%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.071%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CLUSDC	92.084	0.0059	pay 0.0030% / 4h	38m 29s	$529K	$332K	30x
Short	Bullet WTIOIL-USD	92.107	−0.0052	pay 0.0007% / 1h	38m 29s	$18K	$241K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against edgeX. 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 edgeXbpFee BulletbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$23.42
Price spread: +0.025% → +0.012%: $1.28
Slippage, 4 orders: −$24.78
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$63.92
Costs to cover: 0.418%
Break-even: never at this rate

Slippage from edgeX: live order book, 40 min ago; Bullet: live order book, 40 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 edgeX live order book, 40 min ago	9.94 bp	14.4 bp −$14	14.8 bp −$148	21.2 bp −$2,125	doesn't fit
Sell Bullet live order book, 40 min ago	0.54 bp	6.6 bp −$7	18.0 bp −$180	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
Kraken Futures PF_WTIOILUSD	−0.0450%	1h	92.157	+0.079%	$274K	$1.2M	25x	as long as short
GRVT CL_USDT_Perp	−0.0314%	4h	92.040	−0.048%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0237%	4h	92.130	+0.050%	$24.0M	$77.4M	20x	as long as short
Nado WTI-PERP	−0.0166%	1h	92.156	+0.078%	$924K	$740K	10x	as long as short
Binance CLUSDT	−0.0160%	4h	92.140	+0.061%	$245.5M	$1.10B	100x	as long as short
Variational Omni CL	−0.0138%	4h	92.053	−0.033%	$13.4M	$12.4M	—	as long as short
Lighter WTI	−0.0120%	1h	92.096	+0.013%	$11.2M	$10.9M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0102%	1h	92.070	−0.015%	$3.5M	$6.3M	20x	as long as short
Paradex CL-USD-PERP	−0.0098%	8h	92.081	−0.004%	$15K	$367	5x	as long as short
tradeXYZ xyz:CL	−0.0085%	1h	92.128	+0.048%	$187.1M	$274.7M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit WTIOIL_USDC-PERPETUAL	−0.0076%	1h	92.120	+0.039%	$96K	$189K	15x	as long as short
QFEX CL-USD	−0.0054%	1h	92.100	+0.017%	$2.4M	$2.6M	10x	as long as short
Bullet WTIOIL-USDshort	−0.0052%	1h	92.107	+0.025%	$18K	$241K	10x
Gate CL_USDT	−0.0028%	8h	92.060	−0.026%	$21.3M	$57.6M	100x	as long as short
Pacifica CL	−0.0020%	1h	92.123	+0.042%	$333K	$576K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.108	+0.025%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.154	+0.076%	$25.6M	$94.9M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.120	+0.039%	$43.0M	$112.9M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.219	+0.146%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.108	+0.026%	$42.0M	$51.7M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.120	+0.039%	$37K	$101K	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	−0.059%	$399K	$966K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.669	−0.451%	$4K	—	150x	as long as short
Extended WTI-USD	+0.0016%	1h	92.145	+0.066%	$2.0M	$27.5M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.130	+0.050%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.170	+0.093%	—	$308K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0046%	1h	92.128	+0.048%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.105	+0.023%	$2.0M	$39K	20x	as long as short
edgeX CLUSDClong	+0.0059%	4h	92.084	long leg	$529K	$332K	30x
Aftermath Perps WTIUSD	+0.0086%	1h	92.085	+0.001%	$2K	$29K	5x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.134	+0.054%	$7.3M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.070	−0.015%	$55K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.077	−0.008%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0205% / S −0.0130%	1h	92.105	+0.023%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.28	+9.981%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.090	+0.006%	$4.0M	$1.4M	50x	as long as short