Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0315%/8h= −34.5% APRpaid last 24h −0.062%

Price spread now: Gate against Injective−9.141%114s7-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 Gate

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 −$9 a day on $10k at the current rate, and Gate is 9.141% cheaper against Injective than usual: you would sell low and buy high (−$914 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 114 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	Injective WTI/USDC PERP	102.15	0.0220	pay 0.0028% / 1h	55m 25s	$19K	$11K	30x
Short	Gate CL_USDT	92.810	−0.0095	pay 0.0095% / 8h	5h 55m	$20.9M	$52.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −9.141%Rate

Funding earned: −$66.15
Price spread: −9.141% → 0.000%: −$914.07
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$995.24
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Gate: live order book, 3 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 Gate live order book, 3 min ago	0.54 bp	9.3 bp −$9	13.9 bp −$139	29.0 bp −$2,902	35.0 bp −$17.5K

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 35 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	−0.0503%	1h	92.860	−9.092%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0242%	4h	92.850	−9.101%	$23.9M	$71.1M	20x	as long as short
GRVT CL_USDT_Perp	−0.0210%	4h	92.871	−9.081%	$61K	$633K	25x	as long as short
Binance CLUSDT	−0.0209%	4h	92.863	−9.089%	$244.7M	$962.0M	100x	as long as short
Variational Omni CL	−0.0203%	4h	92.860	−9.092%	$13.5M	$11.1M	—	as long as short
Nado WTI-PERP	−0.0101%	1h	92.905	−9.048%	$962K	$669K	10x	as long as short
Gate CL_USDTshort	−0.0095%	8h	92.810	−9.141%	$20.9M	$52.1M	100x
Ondo Perps WTI-USD.P	−0.0078%	1h	92.800	−9.151%	$3.5M	$5.6M	20x	as long as short
edgeX CLUSDC	−0.0056%	4h	92.883	−9.069%	$529K	$301K	30x	as long as short
tradeXYZ xyz:CL	−0.0052%	1h	92.875	−9.077%	$184.8M	$219.6M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−9.199%	$402K	$946K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	92.830	−9.121%	$2.5M	$1.7M	10x	as long as short
Aftermath Perps WTIUSD	−0.0013%	1h	92.896	−9.057%	$2K	$28K	5x	as long as short
OKX CL-USDT-SWAP	−0.0003%	4h	92.860	−9.092%	$42.8M	$102.5M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.909	−9.044%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.889	−9.063%	$26.9M	$81.3M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.826	−9.125%	$41.9M	$43.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.930	−9.023%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.859	−9.093%	$17K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.428	−9.515%	$5K	—	150x	as long as short
Lighter WTI	+0.0032%	1h	92.848	−9.104%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.880	−9.072%	$2.1M	$23.5M	10x	as long as short
Paradex CL-USD-PERP	+0.0035%	8h	92.839	−9.112%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	92.360	−9.581%	$726K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.890	−9.062%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.846	−9.106%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.885	−9.067%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	92.957	−8.997%	$3.3M	$2.7M	20x	as long as short
KuCoin CLUSDTM	+0.0082%	4h	92.866	−9.086%	$7.3M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.859	−9.092%	$331K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.870	−9.082%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.856	−9.096%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.909	−9.044%	$273K	$882K	25x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.855	−9.097%	$78K	—	111x	as long as short
Injective WTI/USDC PERPlong	+0.0220%	1h	102.15	long leg	$19K	$11K	30x