Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0014%/8h= +1.5% APRpaid last 24h −0.012%

Price spread now: Gate against Ondo Perps−0.075%7-day average −0.002% · you buy dearer than you sell

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

Long on Ondo Perps Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.409%−$41 on $10k

Price spread, last 7 days+0.053%+$5 · spread now −0.075%, 7d avg −0.002%

Together, before fees−0.356%+ Points / potential airdropOndo Perps: Active · farm board−$36 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.073% cheaper against Ondo Perps than usual: you would sell low and buy high (spread −0.075% now, against its 7-day average of −0.002%). If the spread goes back, that is −$7 on $10k: about 18 days of funding at the current rate ($0 a day). Mind the row above: over the last 7 days funding on this pair cost −0.409%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps WTI-USD.P	93.600	−0.0125	get 0.0016% / 1h	23m 01s	$3.5M	$5.3M	20x
Short	Gate CL_USDT	93.530	−0.0111	pay 0.0111% / 8h	1h 23m	$22.5M	$49.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Ondo Perps. 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 Ondo PerpsbpFee GatebpOrdersPrice spread, now −0.075%Rate

Funding earned: $2.9
Price spread: −0.075% → −0.002%: −$7.31
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$24.42
Costs to cover: 0.200%
Break-even: 66.0 days

Slippage unknown: Ondo Perps: no order-book sample; Gate: live order book, 1 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Gate live order book, 1 min ago	0.53 bp	8.0 bp −$8	11.3 bp −$113	26.3 bp −$2,627	32.4 bp −$16.2K

Ondo Perps: 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	−0.0497%	1h	93.620	+0.021%	$197K	$383K	15x	as long as short
Aster CLUSD1	−0.0275%	4h	93.645	+0.048%	$24.6M	$65.2M	20x	as long as short
GRVT CL_USDT_Perp	−0.0262%	4h	93.658	+0.061%	$58K	$618K	25x	as long as short
Binance CLUSDT	−0.0148%	4h	93.609	+0.010%	$247.0M	$916.7M	100x	as long as short
Aftermath Perps WTIUSD	−0.0142%	1h	93.649	+0.052%	$2K	$26K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0137%	1h	93.666	+0.070%	$283K	$960K	25x	as long as short
Variational Omni CL	−0.0136%	4h	93.629	+0.031%	$13.5M	$10.6M	—	as long as short
Ondo Perps WTI-USD.Plong	−0.0125%	1h	93.600	long leg	$3.5M	$5.3M	20x
Gate CL_USDTshort	−0.0111%	8h	93.530	−0.075%	$22.5M	$49.5M	100x
Bitget CLUSDT	−0.0104%	4h	93.580	−0.021%	$42.3M	$42.0M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0079%	1h	93.602	+0.002%	$185.1M	$205.0M	20x	as long as short
Nado WTI-PERP	−0.0056%	1h	93.707	+0.114%	$966K	$620K	10x	as long as short
edgeX CLUSDC	−0.0037%	4h	93.643	+0.046%	$526K	$305K	30x	as long as short
QFEX CL-USD	−0.0023%	1h	93.640	+0.043%	$2.3M	$2.4M	10x	as long as short
OKX CL-USDT-SWAP	−0.0022%	4h	93.590	−0.011%	$43.0M	$101.8M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0008%	1h	93.500	−0.107%	$404K	$916K	15x	as long as short
dYdX WTI-USD	0.0000%	1h	93.649	+0.052%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.610	+0.011%	$26.9M	$78.9M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.701	+0.108%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.730	+0.139%	$37K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.663	+0.067%	$19K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.206	−0.421%	$5K	—	150x	as long as short
Lighter WTI	+0.0016%	1h	93.604	+0.004%	$11.3M	$9.6M	20x	as long as short
Paradex CL-USD-PERP	+0.0021%	8h	93.633	+0.035%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.640	+0.043%	$2.0M	$15.5M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.680	+0.085%	$742K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.670	+0.075%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.648	+0.051%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.610	+0.011%	$2.1M	$61K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.643	+0.046%	$333K	$574K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.656	+0.060%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.750	+0.160%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.619	+0.021%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0220%	4h	93.650	+0.053%	$4.0M	$971K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.97	+10.014%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0247% / S −0.0181%	1h	93.655	+0.059%	$84K	—	111x	as long as short