Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: OKX against gTrade (Gains Network)+0.487%53s7-day average +0.352% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2802.801% of the position

Long on gTrade (Gains Network)Short on OKX

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)+0.001%$0 on $10k

Price spread, last 3 days (all we have)−0.034%−$3 · spread now +0.487%, 7d avg +0.352%

Together, before fees−0.033%−$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.134% dearer against gTrade (Gains Network) than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.352%. The two prices were read 53 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	gTrade (Gains Network) WTI/USD	91.654	L 0.0000% / S +0.0036%	pay 0.0000% / 1h	3m 28s	$4K	—	150x
Short	OKX CL-USDT-SWAP	92.100	0	get 0.0000% / 4h	1h 03m	$43.2M	$113.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee OKXbpOrdersPrice spread, now +0.487%Rate

Funding earned: −$0.02
Price spread: +0.487% → +0.352%: $13.43
Slippage, 4 orders: −$262.13
Fee gTrade (Gains Network): 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$266.73
Costs to cover: 2.801%
Break-even: never at this rate

Slippage from gTrade (Gains Network): virtual book (oracle venue), 46 min ago; OKX: live order book, 6 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 gTrade (Gains Network) virtual book (oracle venue), 46 min ago	130.01 bp	134.0 bp −$134	499.7 bp −$4,997	4168.8 bp −$416.9K	17636.6 bp −$8.82M
Sell OKX live order book, 6 min ago	0.54 bp	6.6 bp −$7	7.2 bp −$72	14.0 bp −$1,405	83.2 bp −$41.6K

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	−0.0293%	1h	92.080	+0.465%	$96K	$189K	15x	as long as short
Lighter WTI	−0.0264%	1h	92.105	+0.492%	$11.2M	$11.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0228%	4h	92.010	+0.388%	$58K	$715K	25x	as long as short
Aster CLUSD1	−0.0161%	4h	92.127	+0.516%	$24.0M	$77.6M	20x	as long as short
Nado WTI-PERP	−0.0160%	1h	92.161	+0.553%	$924K	$746K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0150%	1h	92.070	+0.454%	$3.5M	$6.4M	20x	as long as short
tradeXYZ xyz:CL	−0.0129%	1h	92.130	+0.519%	$185.7M	$278.2M	20x	as long as short
Paradex CL-USD-PERP	−0.0097%	8h	92.086	+0.471%	$15K	$367	5x	as long as short
Bullet WTIOIL-USD	−0.0096%	1h	92.108	+0.495%	$18K	$241K	10x	as long as short
Aftermath Perps WTIUSD	−0.0073%	1h	92.041	+0.422%	$2K	$29K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CLUSDT	−0.0067%	4h	92.110	+0.498%	$244.9M	$1.11B	100x	as long as short
Variational Omni CL	−0.0035%	4h	92.003	+0.380%	$13.4M	$13.3M	—	as long as short
Gate CL_USDT	−0.0011%	8h	92.050	+0.432%	$21.3M	$59.7M	100x	as long as short
dYdX WTI-USD	0.0000%	1h	92.108	+0.495%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.143	+0.534%	$25.5M	$95.5M	150x	as long as short
OKX CL-USDT-SWAPshort	0.0000%	4h	92.100	+0.487%	$43.2M	$113.3M	50x
QFEX CL-USD	0.0000%	1h	92.090	+0.476%	$2.4M	$2.6M	10x	as long as short
Bitget CLUSDT	0.0000%	4h	92.095	+0.481%	$42.1M	$52.1M	100x	as long as short
gTrade (Gains Network) WTI/USDlong	L 0.0000% / S +0.0036%	1h	91.654	long leg	$4K	—	150x
Phoenix WTIOIL	+0.0009%	1h	92.140	+0.530%	$37K	$99K	20x	as long as short
Polymarket Perps WTIOIL-USD	+0.0015%	1h	92.120	+0.508%	$1.6M	$1.4M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.180	+0.574%	$2.0M	$28.8M	10x	as long as short
edgeX CLUSDC	+0.0036%	4h	92.048	+0.430%	$529K	$335K	30x	as long as short
StandX CL-USD	+0.0040%	1h	92.050	+0.432%	$724K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.170	+0.563%	—	$308K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.067	+0.451%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.103	+0.490%	$332K	$578K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.101	+0.488%	$7.2M	$2.0M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.010	+0.388%	$55K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.038	+0.420%	$4K	—	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0112%	1h	92.030	+0.410%	$399K	$1.0M	15x	as long as short
Injective WTI/USDC PERP	+0.0172%	1h	101.16	+10.371%	$19K	$18K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	92.065	+0.448%	$76K	—	111x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.000	+0.378%	$4.0M	$1.4M	50x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0450%	1h	92.079	+0.464%	$275K	$1.2M	25x	as long as short
RISEx CL/USDC	+0.0977%	1h	92.235	+0.634%	$3.3M	$2.7M	20x	as long as short