Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0013%/8h= −1.5% APRpaid last 24h −0.003%

Price spread now: Bullet against Paradex+0.033%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Bullet is 0.033% dearer against Paradex than usual: you sell high and buy low (spread +0.033% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 8.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CL-USD-PERP	92.764	0.0013	pay 0.0013% / 8h	6h 57m	$16K	$367	5x
Short	Bullet WTIOIL-USD	92.795	0	get 0.0000% / 1h	57m 51s	$19K	$239K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Paradex. 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 ParadexbpFee BulletbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$2.79
Price spread: +0.033% → 0.000%: $3.32
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$11.47
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Bullet: live order book, 11 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 Paradex no order-book sample	—	—	—	—	—
Sell Bullet live order book, 11 min ago	0.54 bp	6.5 bp −$7	17.7 bp −$177	doesn't fit	doesn't fit

Paradex: 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	−0.0719%	1h	92.760	−0.004%	$192K	$358K	15x	as long as short
GRVT CL_USDT_Perp	−0.0342%	4h	92.660	−0.112%	$58K	$630K	25x	as long as short
Aster CLUSD1	−0.0336%	4h	92.863	+0.106%	$24.0M	$75.0M	20x	as long as short
Binance CLUSDT	−0.0282%	4h	92.824	+0.065%	$244.9M	$1.02B	100x	as long as short
Variational Omni CL	−0.0273%	4h	92.659	−0.114%	$13.3M	$11.4M	—	as long as short
Gate CL_USDT	−0.0193%	8h	92.770	+0.006%	$21.2M	$52.2M	100x	as long as short
tradeXYZ xyz:CL	−0.0067%	1h	92.854	+0.097%	$186.5M	$234.7M	20x	as long as short
Nado WTI-PERP	−0.0065%	1h	92.837	+0.079%	$936K	$696K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.030	−0.791%	$399K	$956K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.833	+0.074%	$274K	$906K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0033%	1h	92.750	−0.015%	$2.5M	$1.7M	10x	as long as short
Ondo Perps WTI-USD.P	−0.0023%	1h	92.730	−0.037%	$3.5M	$5.9M	20x	as long as short
OKX CL-USDT-SWAP	−0.0005%	4h	92.830	+0.071%	$43.0M	$108.6M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.832	+0.073%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.850	+0.093%	$26.5M	$86.7M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.822	+0.062%	$42.3M	$47.3M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.740	−0.026%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USDshort	0.0000%	1h	92.795	+0.033%	$19K	$239K	10x
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.389	−0.404%	$5K	—	150x	as long as short
Lighter WTI	+0.0008%	1h	92.844	+0.086%	$11.2M	$10.0M	20x	as long as short
Paradex CL-USD-PERPlong	+0.0013%	8h	92.764	long leg	$16K	$367	5x
Extended WTI-USD	+0.0016%	1h	92.860	+0.103%	$2.1M	$25.5M	10x	as long as short
edgeX CLUSDC	+0.0035%	4h	92.691	−0.079%	$533K	$300K	30x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.884	+0.129%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.450	−0.339%	$723K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.810	+0.049%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.790	+0.028%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.825	+0.066%	$2.1M	$58K	20x	as long as short
KuCoin CLUSDTM	+0.0076%	4h	92.840	+0.082%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.783	+0.020%	$355K	$605K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.780	+0.017%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.782	+0.019%	$4K	—	10x	as long as short
Aftermath Perps WTIUSD	+0.0107%	1h	92.738	−0.028%	$2K	$28K	5x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.815	+0.055%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.69	+9.622%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0237%	4h	92.680	−0.091%	$4.0M	$1.2M	50x	as long as short