Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0131%/8h= +14.3% APRpaid last 24h +0.086%

Price spread now: GMX against Bitget−0.035%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on GMX

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—needs both histories

Funding pays, the price is against you. GMX is 0.035% cheaper against Bitget than usual: you would sell low and buy high (spread −0.035% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 21 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CLUSDT	92.617	0	get 0.0000% / 4h	3h 11m	$42.2M	$48.2M	100x
Short	GMX WTIOIL/USD [ETH-USDC]	92.585	L +0.0206% / S −0.0131%	get 0.0016% / 1h	11m 46s	$78K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now −0.035%Rate

Funding earned: $27.49
Price spread: −0.035% → 0.000%: −$3.46
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $0.04
Costs to cover: 0.240%
Break-even: 7.0 days

Slippage unknown: Bitget: live order book, 2 min ago; GMX: no order-book sample. 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 Bitget live order book, 2 min ago	0.49 bp	7.4 bp −$7	9.6 bp −$96	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
GRVT CL_USDT_Perp	−0.0360%	4h	92.647	+0.032%	$58K	$684K	25x	as long as short
Aster CLUSD1	−0.0336%	4h	92.630	+0.014%	$24.0M	$75.1M	20x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0290%	1h	92.580	−0.040%	$123K	$275K	15x	as long as short
Binance CLUSDT	−0.0281%	4h	92.595	−0.024%	$244.4M	$1.03B	100x	as long as short
Variational Omni CL	−0.0271%	4h	92.631	+0.015%	$13.3M	$11.4M	—	as long as short
Gate CL_USDT	−0.0212%	8h	92.530	−0.094%	$21.3M	$55.5M	100x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.610	−0.008%	$274K	$913K	25x	as long as short
Ondo Perps WTI-USD.P	−0.0055%	1h	92.610	−0.008%	$3.6M	$5.9M	20x	as long as short
Nado WTI-PERP	−0.0052%	1h	92.653	+0.039%	$934K	$708K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.634%	$399K	$956K	15x	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	−0.0040%	1h	92.590	−0.029%	$2.4M	$1.7M	10x	as long as short
tradeXYZ xyz:CL	−0.0032%	1h	92.603	−0.015%	$185.8M	$237.1M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.666	+0.053%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.620	+0.003%	$26.5M	$89.4M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.580	−0.040%	$43.1M	$108.3M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.726	+0.118%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDTlong	0.0000%	4h	92.617	long leg	$42.2M	$48.2M	100x
Phoenix WTIOIL	0.0000%	1h	92.710	+0.100%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.591	−0.028%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.144	−0.511%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0005%	8h	92.583	−0.036%	$15K	$367	5x	as long as short
Extended WTI-USD	+0.0008%	1h	92.650	+0.036%	$2.3M	$25.9M	10x	as long as short
Lighter WTI	+0.0024%	1h	92.603	−0.015%	$11.2M	$10.2M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.320	−0.321%	$722K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.640	+0.025%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.606	−0.012%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.580	−0.040%	$2.0M	$38K	20x	as long as short
KuCoin CLUSDTM	+0.0082%	4h	92.620	+0.003%	$7.2M	$2.3M	50x	as long as short
edgeX CLUSDC	+0.0095%	4h	92.657	+0.043%	$533K	$300K	30x	as long as short
Pacifica CL	+0.0100%	1h	92.602	−0.016%	$356K	$602K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.670	+0.057%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.570	−0.051%	$4K	—	10x	as long as short
Aftermath Perps WTIUSD	+0.0162%	1h	92.643	+0.028%	$2K	$28K	5x	as long as short
GMX WTIOIL/USD [ETH-USDC]short	L +0.0206% / S −0.0131%	1h	92.585	−0.035%	$78K	—	111x
Injective WTI/USDC PERP	+0.0220%	1h	101.69	+9.796%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.640	+0.025%	$4.0M	$1.2M	50x	as long as short