Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0417%/8h= −45.7% APRpaid last 24h −0.092%

Price spread now: Binance against GMX+0.030%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Binance

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

The price spread pays, funding is against you. Binance is 0.030% dearer against GMX than usual: you sell high and buy low (spread +0.030% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 6 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX WTIOIL/USD [ETH-USDC]	93.145	L +0.0254% / S −0.0189%	pay 0.0032% / 1h	40m 37s	$83K	—	111x
Short	Binance CLUSDT	93.173	−0.0164	pay 0.0082% / 4h	40m 37s	$246.8M	$919.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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 GMXbpFee BinancebpOrdersPrice spread, now +0.030%Rate

Funding earned: −$87.6
Price spread: +0.030% → 0.000%: $3
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$106.6
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Binance: live order book, 3 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 3 min ago	0.54 bp	5.5 bp −$6	5.5 bp −$55	8.2 bp −$824	23.1 bp −$11.6K

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
Deribit WTIOIL_USDC-PERPETUAL	−0.0501%	1h	93.170	+0.027%	$195K	$392K	15x	as long as short
Aster CLUSD1	−0.0287%	4h	93.202	+0.061%	$24.7M	$64.2M	20x	as long as short
GRVT CL_USDT_Perp	−0.0280%	4h	93.371	+0.242%	$75K	$636K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0209%	1h	93.194	+0.053%	$275K	$939K	25x	as long as short
Binance CLUSDTshort	−0.0164%	4h	93.173	+0.030%	$246.8M	$919.2M	100x
Variational Omni CL	−0.0151%	4h	93.187	+0.045%	$13.4M	$10.6M	—	as long as short
Gate CL_USDT	−0.0130%	8h	93.110	−0.038%	$22.9M	$49.0M	100x	as long as short
Bitget CLUSDT	−0.0124%	4h	93.168	+0.025%	$42.2M	$41.5M	100x	as long as short
Aftermath Perps WTIUSD	−0.0114%	1h	93.332	+0.201%	$2K	$26K	5x	as long as short
edgeX CLUSDC	−0.0090%	4h	93.372	+0.244%	$525K	$304K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado WTI-PERP	−0.0085%	1h	93.261	+0.125%	$957K	$624K	10x	as long as short
OKX CL-USDT-SWAP	−0.0064%	4h	93.150	+0.005%	$42.7M	$102.7M	50x	as long as short
QFEX CL-USD	−0.0038%	1h	93.200	+0.059%	$2.3M	$2.4M	10x	as long as short
Ondo Perps WTI-USD.P	−0.0030%	1h	93.140	−0.005%	$3.6M	$5.3M	20x	as long as short
tradeXYZ xyz:CL	−0.0024%	1h	93.172	+0.029%	$184.1M	$202.4M	20x	as long as short
Lighter WTI	−0.0024%	1h	93.164	+0.020%	$11.2M	$9.1M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.424%	$405K	$810K	15x	as long as short
Paradex CL-USD-PERP	−0.0002%	8h	93.148	+0.003%	$16K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	93.176	+0.034%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.172	+0.029%	$26.7M	$79.2M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.213	+0.074%	$3.0M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.410	+0.285%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.216	+0.076%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.705	−0.472%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0016%	1h	93.220	+0.081%	$1.6M	$15.0M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.430	+0.306%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.230	+0.091%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.194	+0.053%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.190	+0.048%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.173	+0.030%	$348K	$593K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.189	+0.047%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.350	+0.220%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.177	+0.035%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0175%	4h	93.200	+0.059%	$4.0M	$982K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.83	+10.400%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]long	L +0.0254% / S −0.0189%	1h	93.145	long leg	$83K	—	111x