Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0026%/8h= −2.8% APRpaid last 24h +0.024%

Price spread now: BloFin against Injective−9.648%7-day average — · you buy dearer than you sell

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

Long on Injective Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (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 against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 9.648% cheaper against Injective than usual: you would sell low and buy high (−$965 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective WTI/USDC PERP	102.13	0.0220	pay 0.0028% / 1h	18m 48s	$19K	$5K	30x
Short	BloFin CL-USDT	92.280	0.0194	get 0.0097% / 4h	3h 18m	$4.0M	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Injective. 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 InjectivebpFee BloFinbpOrdersPrice spread, now −9.648%Rate

Funding earned: −$5.39
Price spread: −9.648% → 0.000%: −$964.81
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$982.22
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; BloFin: live order book, 5 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 Injective no order-book sample	—	—	—	—	—
Sell BloFin live order book, 5 min ago	1.62 bp	8.6 bp −$9	8.8 bp −$88	14.8 bp −$1,476	37.0 bp −$18.5K

Injective: 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	−0.0617%	1h	92.220	−9.707%	$184K	$414K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0315%	1h	92.300	−9.628%	$258K	$956K	25x	as long as short
Aster CLUSD1	−0.0215%	4h	92.285	−9.643%	$24.9M	$59.7M	20x	as long as short
Binance CLUSDT	−0.0124%	4h	92.251	−9.677%	$245.0M	$934.8M	100x	as long as short
Variational Omni CL	−0.0105%	4h	92.432	−9.500%	$13.5M	$10.7M	—	as long as short
Gate CL_USDT	−0.0101%	8h	92.190	−9.736%	$23.6M	$50.5M	100x	as long as short
Nado WTI-PERP	−0.0099%	1h	92.410	−9.521%	$946K	$598K	10x	as long as short
GRVT CL_USDT_Perp	−0.0094%	4h	92.469	−9.463%	$74K	$611K	25x	as long as short
Bitget CLUSDT	−0.0076%	4h	92.212	−9.715%	$42.0M	$42.0M	100x	as long as short
Aftermath Perps WTIUSD	−0.0055%	1h	92.604	−9.331%	$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
OKX CL-USDT-SWAP	−0.0045%	4h	92.210	−9.717%	$42.3M	$102.9M	50x	as long as short
QFEX CL-USD	−0.0026%	1h	92.340	−9.589%	$2.3M	$2.5M	10x	as long as short
tradeXYZ xyz:CL	−0.0009%	1h	92.288	−9.640%	$183.7M	$192.3M	20x	as long as short
edgeX CLUSDC	−0.0005%	4h	92.515	−9.418%	$540K	$342K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	92.319	−9.610%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.251	−9.677%	$27.5M	$83.3M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.391	−9.539%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.278	−9.650%	$19K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.867	−10.052%	$5K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.520	−9.413%	$37K	$39K	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	92.340	−9.589%	$417K	$982K	15x	as long as short
Paradex CL-USD-PERP	+0.0017%	8h	92.329	−9.600%	$15K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	92.257	−9.671%	$11.2M	$9.0M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.260	−9.668%	$1.7M	$14.0M	10x	as long as short
Ondo Perps WTI-USD.P	+0.0032%	1h	92.320	−9.609%	$3.6M	$5.2M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.520	−9.413%	$727K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.350	−9.580%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.378	−9.552%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.255	−9.673%	$2.1M	$69K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.343	−9.587%	$342K	$574K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.237	−9.690%	$7.0M	$2.5M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.450	−9.482%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.232	−9.695%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0165% / S −0.0007%	1h	92.475	−9.457%	$80K	—	111x	as long as short
BloFin CL-USDTshort	+0.0194%	4h	92.280	−9.648%	$4.0M	$1.0M	50x
Injective WTI/USDC PERPlong	+0.0220%	1h	102.13	long leg	$19K	$5K	30x