Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0134%/8h= +14.7% APRpaid last 24h +0.032%

Price spread now: Extended against Gate+0.172%7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs+$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$270.272% of the position

Long on Gate Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.389%+$39 on $10k

Price spread, last 7 days−0.122%−$12 · spread now +0.172%, 7d avg +0.038%

Together, before fees+0.267%+ Points / potential airdropExtended: Active · farm board+$27 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Extended is 0.135% dearer against Gate than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CL_USDT	92.950	−0.0102	get 0.0102% / 8h	7h 28m	$23.5M	$49.9M	100x
Short	Extended WTI-USD	93.110	0.0032	get 0.0004% / 1h	28m 22s	$1.7M	$14.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.172%Rate

Funding earned: $28.14
Price spread: +0.172% → +0.038%: $13.46
Slippage, 4 orders: −$7.19
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $14.4
Costs to cover: 0.272%
Break-even: 3.4 days

Slippage from Gate: live order book, 5 min ago; Extended: live order book, 6 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, 5 min ago	0.54 bp	9.6 bp −$10	13.7 bp −$137	28.0 bp −$2,804	33.6 bp −$16.8K
Sell Extended live order book, 6 min ago	0.32 bp	4.6 bp −$5	8.4 bp −$84	24.4 bp −$2,438	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	−0.0502%	1h	93.000	+0.054%	$188K	$410K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0313%	1h	93.014	+0.069%	$272K	$938K	25x	as long as short
Aster CLUSD1	−0.0226%	4h	93.030	+0.086%	$24.9M	$60.3M	20x	as long as short
Binance CLUSDT	−0.0123%	4h	92.993	+0.047%	$246.2M	$930.1M	100x	as long as short
Variational Omni CL	−0.0109%	4h	92.750	−0.215%	$13.5M	$10.7M	—	as long as short
Nado WTI-PERP	−0.0103%	1h	93.121	+0.184%	$953K	$598K	10x	as long as short
Gate CL_USDTlong	−0.0102%	8h	92.950	long leg	$23.5M	$49.9M	100x
GRVT CL_USDT_Perp	−0.0094%	4h	92.724	−0.243%	$74K	$601K	25x	as long as short
edgeX CLUSDC	−0.0091%	4h	92.745	−0.220%	$541K	$343K	30x	as long as short
Aftermath Perps WTIUSD	−0.0072%	1h	92.885	−0.069%	$1K	$27K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CLUSDT	−0.0072%	4h	93.064	+0.123%	$42.3M	$41.6M	100x	as long as short
OKX CL-USDT-SWAP	−0.0047%	4h	92.910	−0.043%	$42.6M	$102.7M	50x	as long as short
QFEX CL-USD	−0.0026%	1h	93.070	+0.129%	$2.3M	$2.5M	10x	as long as short
tradeXYZ xyz:CL	−0.0013%	1h	93.031	+0.087%	$184.7M	$192.5M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.083	+0.143%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.995	+0.048%	$27.4M	$82.0M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.130	+0.194%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.015	+0.070%	$19K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.548	−0.432%	$5K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.750	−0.215%	$37K	$39K	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	92.610	−0.366%	$412K	$814K	15x	as long as short
Paradex CL-USD-PERP	+0.0017%	8h	93.048	+0.106%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	93.068	+0.127%	$11.3M	$8.8M	20x	as long as short
Extended WTI-USDshort	+0.0032%	1h	93.110	+0.172%	$1.7M	$14.2M	10x
Ondo Perps WTI-USD.P	+0.0039%	1h	93.060	+0.118%	$3.6M	$5.2M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.930	−0.022%	$731K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.030	+0.086%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.054	+0.112%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.015	+0.070%	$2.1M	$69K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.097	+0.158%	$346K	$584K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.057	+0.115%	$7.1M	$2.5M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.770	−0.194%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.993	+0.046%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0166% / S −0.0007%	1h	92.935	−0.016%	$80K	—	111x	as long as short
BloFin CL-USDT	+0.0193%	4h	92.930	−0.022%	$4.1M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.881%	$19K	$5K	30x	as long as short