Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0288%/8h= −31.5% APRpaid last 24h −0.003%

Price spread now: GRVT against Coinbase International+0.177%7-day average +0.119% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$250.252% of the position

Long on Coinbase International Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.039%+$4 on $10k

Price spread, last 3 days (all we have)−0.075%−$8 · spread now +0.177%, 7d avg +0.119%

Together, before fees−0.036%+ Points / potential airdropGRVT: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GRVT is 0.058% dearer against Coinbase International than usual: you sell high and buy low (spread +0.177% now, against its 7-day average of +0.119%): +$6 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 16 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.039% in total (about 2.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WTIOIL-PERP-INTX	92.030	−0.0040	get 0.0005% / 1h	58m 56s	$399K	$962K	15x
Short	GRVT CL_USDT_Perp	92.193	−0.0328	pay 0.0164% / 4h	3h 58m	$58K	$702K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Coinbase International. 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 Coinbase InternationalbpFee GRVTbpOrdersPrice spread, now +0.177%Rate

Funding earned: −$60.48
Price spread: +0.177% → +0.119%: $5.8
Slippage, 4 orders: −$6.18
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$79.86
Costs to cover: 0.252%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 54 min ago; GRVT: live order book, 14 min ago.

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 Coinbase International live order book, 54 min ago	1.09 bp	6.4 bp −$6	8.6 bp −$86	doesn't fit	doesn't fit
Sell GRVT live order book, 14 min ago	0.54 bp	5.0 bp −$5	6.1 bp −$61	doesn't fit	doesn't fit

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_Perpshort	−0.0328%	4h	92.193	+0.177%	$58K	$702K	25x
Aster CLUSD1	−0.0299%	4h	92.230	+0.217%	$23.9M	$77.5M	20x	as long as short
Binance CLUSDT	−0.0223%	4h	92.220	+0.206%	$244.4M	$1.08B	100x	as long as short
Variational Omni CL	−0.0206%	4h	92.193	+0.177%	$13.2M	$12.7M	—	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0183%	1h	92.260	+0.250%	$96K	$189K	15x	as long as short
Nado WTI-PERP	−0.0131%	1h	92.294	+0.287%	$925K	$733K	10x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.278	+0.269%	$273K	$1.2M	25x	as long as short
QFEX CL-USD	−0.0054%	1h	92.240	+0.228%	$2.4M	$2.3M	10x	as long as short
Lighter WTI	−0.0048%	1h	92.256	+0.246%	$11.2M	$9.9M	20x	as long as short
Coinbase International WTIOIL-PERP-INTXlong	−0.0040%	1h	92.030	long leg	$399K	$962K	15x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0033%	8h	92.170	+0.152%	$21.3M	$53.9M	100x	as long as short
Paradex CL-USD-PERP	−0.0031%	8h	92.224	+0.211%	$15K	$367	5x	as long as short
Ondo Perps WTI-USD.P	−0.0027%	1h	92.180	+0.163%	$3.5M	$6.4M	20x	as long as short
Pacifica CL	−0.0020%	1h	92.246	+0.235%	$353K	$596K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.269	+0.260%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.210	+0.196%	$26.0M	$94.1M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.210	+0.196%	$43.0M	$111.5M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.356	+0.355%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.218	+0.204%	$42.0M	$51.5M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.300	+0.293%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.246	+0.235%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.816	−0.233%	$5K	—	150x	as long as short
tradeXYZ xyz:CL	+0.0019%	1h	92.241	+0.229%	$186.1M	$267.3M	20x	as long as short
edgeX CLUSDC	+0.0021%	4h	92.241	+0.230%	$530K	$326K	30x	as long as short
Extended WTI-USD	+0.0032%	1h	92.260	+0.250%	$2.0M	$26.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.210	+0.196%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.280	+0.272%	—	$308K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.259	+0.249%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.246	+0.235%	$2.0M	$39K	20x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.251	+0.240%	$7.3M	$2.2M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.220	+0.206%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.225	+0.212%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0205% / S −0.0130%	1h	92.255	+0.244%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.34	+10.112%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.220	+0.206%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0514%	1h	92.256	+0.245%	$2K	$29K	5x	as long as short