Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0207%/8h= +22.6% APRpaid last 24h +0.071%

Price spread now: BloFin against gTrade (Gains Network)+0.444%50s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and BloFin is 0.444% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$44 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) WTI/USD	92.808	L 0.0000% / S +0.0036%	pay 0.0000% / 1h	41m 40s	$5K	—	150x
Short	BloFin CL-USDT	93.220	0.0207	get 0.0103% / 4h	3h 41m	$4.0M	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BloFinbpOrdersPrice spread, now +0.444%Rate

Funding earned: $43.37
Price spread: +0.444% → 0.000%: $44.39
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: $67.76
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: gTrade (Gains Network): no order-book sample; BloFin: live order book, 2 min ago. Net counts fees only.

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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell BloFin live order book, 2 min ago	0.54 bp	8.3 bp −$8	9.9 bp −$99	15.3 bp −$1,529	27.1 bp −$13.6K

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0608%	1h	93.210	+0.433%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0263%	4h	93.310	+0.541%	$24.1M	$66.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0226%	4h	93.196	+0.418%	$54K	$645K	25x	as long as short
Binance CLUSDT	−0.0173%	4h	93.284	+0.513%	$245.5M	$940.7M	100x	as long as short
Variational Omni CL	−0.0160%	4h	93.169	+0.389%	$13.4M	$10.8M	—	as long as short
Nado WTI-PERP	−0.0129%	1h	93.255	+0.481%	$964K	$640K	10x	as long as short
Bitget CLUSDT	−0.0122%	4h	93.295	+0.525%	$42.0M	$43.3M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0118%	1h	93.230	+0.455%	$3.5M	$5.3M	20x	as long as short
Aftermath Perps WTIUSD	−0.0109%	1h	93.206	+0.429%	$2K	$27K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.238	+0.463%	$277K	$960K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0052%	8h	93.240	+0.465%	$21.1M	$51.0M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.190	+0.412%	$401K	$927K	15x	as long as short
QFEX CL-USD	−0.0033%	1h	93.260	+0.487%	$2.3M	$1.8M	10x	as long as short
OKX CL-USDT-SWAP	−0.0031%	4h	93.290	+0.519%	$42.7M	$103.0M	50x	as long as short
edgeX CLUSDC	−0.0017%	4h	93.238	+0.463%	$524K	$305K	30x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.230	+0.455%	$37K	$41K	20x	as long as short
KuCoin CLUSDTM	−0.0008%	4h	93.280	+0.509%	$7.1M	$2.4M	50x	as long as short
tradeXYZ xyz:CL	−0.0004%	1h	93.269	+0.497%	$184.7M	$219.0M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.272	+0.500%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.304	+0.534%	$27.0M	$80.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.356	+0.590%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.228	+0.452%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USDlong	L 0.0000% / S +0.0036%	1h	92.808	long leg	$5K	—	150x
Paradex CL-USD-PERP	+0.0017%	8h	93.268	+0.496%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	93.254	+0.481%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.330	+0.562%	$2.0M	$19.4M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.180	+0.401%	$737K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.230	+0.455%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.216	+0.440%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.245	+0.471%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.276	+0.504%	$331K	$597K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.240	+0.465%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.209	+0.433%	$4K	—	10x	as long as short
BloFin CL-USDTshort	+0.0207%	4h	93.220	+0.444%	$4.0M	$1.0M	50x
GMX WTIOIL/USD [ETH-USDC]	L +0.0220% / S −0.0147%	1h	93.245	+0.471%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.17	+10.083%	$19K	$11K	30x	as long as short