Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0057%/8h= +6.2% APRpaid last 24h +0.014%

Price spread now: QFEX against Gate0.000%7-day average +0.049% · 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−$38as in the Price arb table

costs, in and out, $10k−$330.333% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.127%+$13 on $10k

Price spread, last 7 days+0.086%+$9 · spread now 0.000%, 7d avg +0.049%

Together, before fees+0.213%+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.049% cheaper against Gate than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.049%). If the spread goes back, that is −$5 on $10k: about 2.9 days of funding at the current rate (+$2 a day). At the pace of the last 4 days (+0.127% in total) that is about 32 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CL_USDT	92.810	−0.0089	get 0.0089% / 8h	5h 28m	$20.9M	$52.5M	100x
Short	QFEX CL-USD	92.810	−0.0032	pay 0.0004% / 1h	28m 45s	$2.5M	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $11.87
Price spread: 0.000% → +0.049%: −$4.86
Slippage, 4 orders: −$8.3
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$26.28
Costs to cover: 0.333%
Break-even: 22.5 days

Slippage from Gate: live order book, 5 min ago; QFEX: 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, 5 min ago	0.54 bp	9.8 bp −$10	15.5 bp −$155	27.0 bp −$2,696	35.7 bp −$17.9K
Sell QFEX live order book, 4 min ago	1.62 bp	6.6 bp −$7	6.6 bp −$66	8.1 bp −$815	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	−0.0611%	1h	92.810	0.000%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0249%	4h	92.871	+0.066%	$23.9M	$68.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0234%	4h	92.800	−0.011%	$61K	$625K	25x	as long as short
Binance CLUSDT	−0.0208%	4h	92.889	+0.085%	$245.0M	$954.8M	100x	as long as short
Variational Omni CL	−0.0203%	4h	92.796	−0.015%	$13.5M	$11.1M	—	as long as short
Ondo Perps WTI-USD.P	−0.0166%	1h	92.780	−0.032%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0152%	1h	92.880	+0.075%	$961K	$663K	10x	as long as short
Gate CL_USDTlong	−0.0089%	8h	92.810	long leg	$20.9M	$52.5M	100x
edgeX CLUSDC	−0.0071%	4h	92.795	−0.016%	$528K	$303K	30x	as long as short
tradeXYZ xyz:CL	−0.0066%	1h	92.883	+0.079%	$184.6M	$218.3M	20x	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	−0.0051%	4h	92.870	+0.065%	$42.8M	$102.0M	50x	as long as short
Aftermath Perps WTIUSD	−0.0045%	1h	92.818	+0.008%	$2K	$27K	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.065%	$402K	$944K	15x	as long as short
QFEX CL-USDshort	−0.0032%	1h	92.810	0.000%	$2.5M	$1.7M	10x
Extended WTI-USD	−0.0024%	1h	92.930	+0.129%	$2.1M	$22.7M	10x	as long as short
Lighter WTI	0.0000%	1h	92.888	+0.084%	$11.2M	$10.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.862	+0.056%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.900	+0.097%	$26.5M	$81.2M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.880	+0.075%	$41.9M	$43.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	−0.022%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.844	+0.037%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.414	−0.427%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0018%	8h	92.875	+0.070%	$16K	$367	5x	as long as short
KuCoin CLUSDTM	+0.0036%	4h	92.870	+0.065%	$7.3M	$2.3M	50x	as long as short
StandX CL-USD	+0.0040%	1h	92.470	−0.366%	$727K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.860	+0.054%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.842	+0.034%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.847	+0.040%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	93.001	+0.206%	$3.3M	$2.7M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.878	+0.073%	$331K	$619K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.860	+0.054%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.805	−0.005%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.866	+0.060%	$273K	$873K	25x	as long as short
BloFin CL-USDT	+0.0192%	4h	92.810	0.000%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.845	+0.038%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.95	+9.852%	$19K	$11K	30x	as long as short