Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0037%/8h= +4.0% APRpaid last 24h −0.017%

Price spread now: BloFin against GMX−0.005%7-day average — · you buy dearer than you sell

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

Long on GMX Short on BloFin

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX WTIOIL/USD [ETH-USDC]	92.005	L +0.0203% / S −0.0127%	pay 0.0025% / 1h	16m 59s	$76K	—	111x
Short	BloFin CL-USDT	92.000	0.0240	get 0.0120% / 4h	1h 16m	$4.0M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.005%Rate

Funding earned: $7.75
Price spread: −0.005% → 0.000%: −$0.54
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$16.8
Costs to cover: 0.240%
Break-even: 22.2 days

Slippage unknown: GMX: no order-book sample; BloFin: live order book, 6 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 BloFin live order book, 6 min ago	1.63 bp	9.8 bp −$10	10.8 bp −$108	14.2 bp −$1,415	29.3 bp −$14.7K

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
Lighter WTI	−0.0304%	1h	91.987	−0.020%	$11.1M	$11.4M	20x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0293%	1h	92.020	+0.016%	$95K	$208K	15x	as long as short
GRVT CL_USDT_Perp	−0.0172%	4h	91.968	−0.040%	$58K	$715K	25x	as long as short
Ondo Perps WTI-USD.P	−0.0170%	1h	91.960	−0.049%	$3.5M	$6.4M	20x	as long as short
Nado WTI-PERP	−0.0168%	1h	92.079	+0.081%	$923K	$748K	10x	as long as short
Aftermath Perps WTIUSD	−0.0165%	1h	92.037	+0.035%	$2K	$30K	5x	as long as short
tradeXYZ xyz:CL	−0.0145%	1h	92.019	+0.015%	$185.3M	$280.0M	20x	as long as short
Bullet WTIOIL-USD	−0.0124%	1h	92.006	+0.002%	$18K	$240K	10x	as long as short
Aster CLUSD1	−0.0113%	4h	92.028	+0.025%	$23.9M	$78.4M	20x	as long as short
Paradex CL-USD-PERP	−0.0107%	8h	91.992	−0.014%	$15K	$367	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	−0.0015%	4h	92.000	−0.005%	$245.3M	$1.12B	100x	as long as short
Polymarket Perps WTIOIL-USD	−0.0004%	1h	92.008	+0.003%	$1.6M	$1.4M	20x	as long as short
Gate CL_USDT	−0.0002%	8h	91.960	−0.049%	$21.3M	$59.4M	100x	as long as short
dYdX WTI-USD	0.0000%	1h	92.108	+0.112%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.018	+0.014%	$25.4M	$97.3M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	91.990	−0.016%	$43.2M	$113.8M	50x	as long as short
QFEX CL-USD	0.0000%	1h	91.990	−0.016%	$2.4M	$2.6M	10x	as long as short
Bitget CLUSDT	0.0000%	4h	91.984	−0.023%	$42.1M	$52.6M	100x	as long as short
Variational Omni CL	0.0000%	4h	91.944	−0.067%	$13.4M	$13.4M	—	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.601	−0.439%	$4K	—	150x	as long as short
Extended WTI-USD	+0.0008%	1h	92.070	+0.071%	$2.0M	$28.9M	10x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.040	+0.038%	$37K	$99K	20x	as long as short
StandX CL-USD	+0.0013%	1h	91.980	−0.027%	$723K	$3.0M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.120	+0.125%	—	$243K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.000	−0.005%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0062%	4h	91.969	−0.039%	$529K	$341K	30x	as long as short
Pacifica CL	+0.0100%	1h	92.007	+0.002%	$332K	$579K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.007	+0.002%	$7.2M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	91.970	−0.038%	$55K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.982	−0.024%	$4K	—	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0112%	1h	92.020	+0.016%	$398K	$1.1M	15x	as long as short
Injective WTI/USDC PERP	+0.0172%	1h	101.16	+9.949%	$19K	$18K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]long	L +0.0203% / S −0.0127%	1h	92.005	long leg	$76K	—	111x
BloFin CL-USDTshort	+0.0240%	4h	92.000	−0.005%	$4.0M	$1.5M	50x
Kraken Futures PF_WTIOILUSD	+0.0450%	1h	91.996	−0.010%	$275K	$1.2M	25x	as long as short
RISEx CL/USDC	+0.0977%	1h	92.131	+0.137%	$3.2M	$2.7M	20x	as long as short