Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0026%/8h= +2.8% APRpaid last 24h +0.004%

Price spread now: Nado against Gate+0.202%50s7-day average +0.058% · 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—prices read too far apart to compare

costs, in and out, $10k−$280.285% of the position

Long on Gate Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.076%+$8 on $10k

Price spread, last 7 days−0.185%−$19 · spread now +0.202%, 7d avg +0.058%

Together, before fees−0.109%+ Points / potential airdropNado: Active · farm board−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Nado is 0.144% dearer against Gate than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.058%. 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	Gate CL_USDT	93.040	−0.0056	get 0.0056% / 8h	4h 39m	$20.9M	$51.5M	100x
Short	Nado WTI-PERP	93.228	−0.0030	pay 0.0004% / 1h	39m 41s	$963K	$653K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.202%Rate

Funding earned: $5.43
Price spread: +0.202% → +0.058%: $14.36
Slippage, 4 orders: −$6.47
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$8.68
Costs to cover: 0.285%
Break-even: 18.2 days

Slippage from Gate: live order book, 4 min ago; Nado: live order book, 19 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	10.1 bp −$10	14.0 bp −$140	26.2 bp −$2,620	36.6 bp −$18.3K
Sell Nado live order book, 19 min ago	0.05 bp	5.3 bp −$5	9.9 bp −$99	36.1 bp −$3,605	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	−0.0608%	1h	93.140	+0.107%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0248%	4h	93.125	+0.092%	$24.0M	$67.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0242%	4h	93.158	+0.126%	$64K	$648K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0195%	1h	93.203	+0.176%	$274K	$872K	25x	as long as short
Binance CLUSDT	−0.0192%	4h	93.084	+0.047%	$244.7M	$951.4M	100x	as long as short
Variational Omni CL	−0.0183%	4h	93.158	+0.127%	$13.5M	$11.0M	—	as long as short
Ondo Perps WTI-USD.P	−0.0115%	1h	93.070	+0.032%	$3.5M	$5.6M	20x	as long as short
tradeXYZ xyz:CL	−0.0108%	1h	93.114	+0.080%	$184.8M	$215.5M	20x	as long as short
Aftermath Perps WTIUSD	−0.0093%	1h	93.179	+0.150%	$2K	$27K	5x	as long as short
Bitget CLUSDT	−0.0084%	4h	93.065	+0.027%	$42.0M	$43.9M	100x	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	93.090	+0.054%	$42.6M	$102.8M	50x	as long as short
Gate CL_USDTlong	−0.0056%	8h	93.040	long leg	$20.9M	$51.5M	100x
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.312%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0043%	1h	93.070	+0.032%	$2.5M	$1.7M	10x	as long as short
edgeX CLUSDC	−0.0041%	4h	93.173	+0.143%	$530K	$299K	30x	as long as short
Nado WTI-PERPshort	−0.0030%	1h	93.228	+0.202%	$963K	$653K	10x
Lighter WTI	−0.0008%	1h	93.114	+0.080%	$11.2M	$10.5M	20x	as long as short
KuCoin CLUSDTM	−0.0002%	4h	93.173	+0.143%	$7.1M	$2.4M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	93.188	+0.159%	$8K	$3K	5x	as long as short
Extended WTI-USD	0.0000%	1h	93.130	+0.097%	$2.1M	$21.2M	10x	as long as short
Bybit CLUSDT	0.0000%	8h	93.093	+0.057%	$26.7M	$80.8M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.160	+0.129%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.200	+0.172%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.185	+0.156%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.743	−0.319%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0015%	8h	93.071	+0.033%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	93.140	+0.107%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.200	+0.172%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.192	+0.163%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.180	+0.150%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0068%	1h	93.107	+0.072%	$329K	$621K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.170	+0.140%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.155	+0.123%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0173%	4h	93.180	+0.150%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0210% / S −0.0134%	1h	93.185	+0.156%	$79K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.31	+9.966%	$19K	$11K	30x	as long as short