Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0257%/8h= +28.2% APRpaid last 24h +0.026%

Price spread now: edgeX against Gate+0.012%52s7-day average +0.061% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$490.492% of the position

Long on Gate Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.104%+$10 on $10k

Price spread, last 3 days (all we have)+0.033%+$3 · spread now +0.012%, 7d avg +0.061%

Together, before fees+0.137%+ Points / potential airdropedgeX: Active · farm board+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.049% cheaper against Gate than usual: you would sell low and buy high (spread +0.012% now, against its 7-day average of +0.061%). If the spread goes back, that is −$5 on $10k: about 15 hours of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.104% in total) that is about 3.3 days. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.104% in total (about 5.4% a year). A funding rate is set anew for every payment. 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	Gate CL_USDT	92.610	−0.0190	get 0.0190% / 8h	7h 04m	$21.3M	$55.6M	100x
Short	edgeX CLUSDC	92.621	0.0067	get 0.0034% / 4h	3h 04m	$533K	$299K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Gate. 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 GatebpFee edgeXbpOrdersPrice spread, now +0.012%Rate

Funding earned: $54.03
Price spread: +0.012% → +0.061%: −$4.91
Slippage, 4 orders: −$25.22
Fee Gate: 7.5 bp × 2 orders: −$15
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$0.1
Costs to cover: 0.492%
Break-even: 7.0 days

Slippage from Gate: live order book, 4 min ago; edgeX: live order book, 4 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 Gate live order book, 4 min ago	0.54 bp	10.0 bp −$10	16.7 bp −$167	29.4 bp −$2,944	35.8 bp −$17.9K
Sell edgeX live order book, 4 min ago	10.10 bp	14.6 bp −$15	15.0 bp −$150	22.9 bp −$2,289	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
GRVT CL_USDT_Perp	−0.0352%	4h	92.655	+0.048%	$58K	$630K	25x	as long as short
Aster CLUSD1	−0.0337%	4h	92.690	+0.086%	$24.0M	$75.1M	20x	as long as short
Binance CLUSDT	−0.0283%	4h	92.690	+0.086%	$244.6M	$1.02B	100x	as long as short
Variational Omni CL	−0.0273%	4h	92.658	+0.052%	$13.3M	$11.5M	—	as long as short
Gate CL_USDTlong	−0.0190%	8h	92.610	long leg	$21.3M	$55.6M	100x
Deribit WTIOIL_USDC-PERPETUAL	−0.0181%	1h	92.680	+0.076%	$123K	$275K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.705	+0.103%	$275K	$912K	25x	as long as short
Ondo Perps WTI-USD.P	−0.0053%	1h	92.650	+0.043%	$3.5M	$5.9M	20x	as long as short
Nado WTI-PERP	−0.0050%	1h	92.747	+0.148%	$935K	$702K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.626%	$399K	$956K	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	92.660	+0.054%	$2.4M	$1.7M	10x	as long as short
tradeXYZ xyz:CL	−0.0031%	1h	92.688	+0.084%	$185.9M	$233.5M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.742	+0.142%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.690	+0.086%	$26.5M	$88.3M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.660	+0.054%	$42.9M	$108.4M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.802	+0.207%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.679	+0.075%	$42.2M	$47.9M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.680	+0.076%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.680	+0.076%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.225	−0.416%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0008%	1h	92.710	+0.108%	$2.3M	$25.7M	10x	as long as short
Paradex CL-USD-PERP	+0.0010%	8h	92.666	+0.061%	$15K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	92.689	+0.085%	$11.2M	$10.3M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.340	−0.292%	$722K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.710	+0.108%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.697	+0.094%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.672	+0.067%	$2.0M	$38K	20x	as long as short
edgeX CLUSDCshort	+0.0067%	4h	92.621	+0.012%	$533K	$299K	30x
KuCoin CLUSDTM	+0.0078%	4h	92.697	+0.094%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.677	+0.072%	$354K	$605K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.670	+0.065%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.652	+0.045%	$4K	—	10x	as long as short
Aftermath Perps WTIUSD	+0.0133%	1h	92.678	+0.074%	$2K	$28K	5x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.675	+0.070%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.69	+9.805%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.640	+0.032%	$4.0M	$1.2M	50x	as long as short