Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0294%/8h= −32.1% APRpaid last 24h −0.071%

Price spread now: edgeX against GMX−0.094%50s7-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 edgeX

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—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and edgeX is 0.094% cheaper against GMX than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 50 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	GMX WTIOIL/USD [ETH-USDC]	93.585	L +0.0242% / S −0.0176%	pay 0.0030% / 1h	57m 36s	$84K	—	111x
Short	edgeX CLUSDC	93.497	−0.0051	pay 0.0026% / 4h	1h 57m	$526K	$305K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.094%Rate

Funding earned: −$61.64
Price spread: −0.094% → 0.000%: −$9.35
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$92
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; edgeX: live order book, 51 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 edgeX live order book, 51 min ago	10.07 bp	14.6 bp −$15	14.7 bp −$147	21.3 bp −$2,126	doesn't fit

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	−0.0391%	1h	93.550	−0.037%	$197K	$379K	15x	as long as short
Aster CLUSD1	−0.0273%	4h	93.610	+0.027%	$24.5M	$64.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0272%	4h	93.479	−0.113%	$58K	$629K	25x	as long as short
Binance CLUSDT	−0.0163%	4h	93.580	−0.005%	$246.5M	$930.5M	100x	as long as short
Variational Omni CL	−0.0158%	4h	93.468	−0.125%	$13.4M	$10.8M	—	as long as short
Aftermath Perps WTIUSD	−0.0146%	1h	93.481	−0.112%	$2K	$26K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0137%	1h	93.568	−0.018%	$286K	$959K	25x	as long as short
Bitget CLUSDT	−0.0116%	4h	93.573	−0.013%	$42.2M	$42.8M	100x	as long as short
Gate CL_USDT	−0.0086%	8h	93.510	−0.080%	$22.2M	$48.0M	100x	as long as short
edgeX CLUSDCshort	−0.0051%	4h	93.497	−0.094%	$526K	$305K	30x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps WTI-USD.P	−0.0038%	1h	93.520	−0.069%	$3.5M	$5.4M	20x	as long as short
tradeXYZ xyz:CL	−0.0037%	1h	93.572	−0.014%	$184.9M	$212.5M	20x	as long as short
OKX CL-USDT-SWAP	−0.0034%	4h	93.580	−0.005%	$42.7M	$101.9M	50x	as long as short
Nado WTI-PERP	−0.0029%	1h	93.620	+0.037%	$972K	$629K	10x	as long as short
QFEX CL-USD	−0.0023%	1h	93.560	−0.027%	$2.3M	$2.5M	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0008%	1h	93.500	−0.091%	$404K	$931K	15x	as long as short
dYdX WTI-USD	0.0000%	1h	93.589	+0.004%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.610	+0.027%	$27.2M	$79.4M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.633	+0.052%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.480	−0.112%	$38K	$38K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.556	−0.031%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.113	−0.504%	$5K	—	150x	as long as short
Lighter WTI	+0.0016%	1h	93.577	−0.009%	$11.3M	$9.6M	20x	as long as short
Paradex CL-USD-PERP	+0.0024%	8h	93.557	−0.030%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.620	+0.037%	$2.0M	$16.4M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.500	−0.091%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.540	−0.048%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.535	−0.053%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.570	−0.016%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.579	−0.006%	$333K	$577K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.598	+0.014%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.540	−0.048%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.539	−0.049%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0206%	4h	93.480	−0.112%	$4.0M	$979K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.64	+9.681%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]long	L +0.0242% / S −0.0176%	1h	93.585	long leg	$84K	—	111x