Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0278%/8h= −30.5% APRpaid last 24h −0.089%

Price spread now: Gate against GMX−0.048%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 Gate

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

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Gate is 0.048% cheaper against GMX than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX WTIOIL/USD [ETH-USDC]	93.175	L +0.0221% / S −0.0149%	pay 0.0028% / 1h	30m 55s	$81K	—	111x
Short	Gate CL_USDT	93.130	−0.0057	pay 0.0057% / 8h	3h 30m	$21.2M	$51.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.048%Rate

Funding earned: −$58.4
Price spread: −0.048% → 0.000%: −$4.83
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$90.23
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Gate: 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 Gate live order book, 3 min ago	0.54 bp	9.6 bp −$10	13.4 bp −$134	27.0 bp −$2,699	37.9 bp −$18.9K

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	93.140	−0.038%	$199K	$370K	15x	as long as short
GRVT CL_USDT_Perp	−0.0272%	4h	93.220	+0.049%	$54K	$645K	25x	as long as short
Aster CLUSD1	−0.0261%	4h	93.210	+0.038%	$24.1M	$66.6M	20x	as long as short
Binance CLUSDT	−0.0173%	4h	93.180	+0.005%	$245.5M	$942.3M	100x	as long as short
Variational Omni CL	−0.0156%	4h	93.159	−0.017%	$13.4M	$10.9M	—	as long as short
Nado WTI-PERP	−0.0124%	1h	93.273	+0.105%	$964K	$631K	10x	as long as short
Bitget CLUSDT	−0.0124%	4h	93.165	−0.011%	$41.9M	$43.3M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0118%	1h	93.220	+0.048%	$3.5M	$5.4M	20x	as long as short
Aftermath Perps WTIUSD	−0.0115%	1h	93.205	+0.032%	$2K	$27K	5x	as long as short
edgeX CLUSDC	−0.0074%	4h	93.201	+0.028%	$524K	$306K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.174	−0.001%	$277K	$958K	25x	as long as short
Gate CL_USDTshort	−0.0057%	8h	93.130	−0.048%	$21.2M	$51.3M	100x
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.190	+0.016%	$401K	$927K	15x	as long as short
OKX CL-USDT-SWAP	−0.0039%	4h	93.160	−0.016%	$42.7M	$102.8M	50x	as long as short
QFEX CL-USD	−0.0033%	1h	93.210	+0.038%	$2.3M	$1.8M	10x	as long as short
tradeXYZ xyz:CL	−0.0031%	1h	93.176	+0.001%	$184.4M	$217.9M	20x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.260	+0.091%	$37K	$41K	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.263	+0.094%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.190	+0.016%	$26.9M	$80.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.287	+0.120%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.174	−0.001%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.736	−0.471%	$5K	—	150x	as long as short
KuCoin CLUSDTM	+0.0004%	4h	93.238	+0.068%	$7.1M	$2.4M	50x	as long as short
Paradex CL-USD-PERP	+0.0015%	8h	93.218	+0.046%	$16K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	93.184	+0.010%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0024%	1h	93.220	+0.048%	$2.0M	$19.0M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.170	−0.005%	$736K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.210	+0.038%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.180	+0.005%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.177	+0.002%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.215	+0.043%	$331K	$597K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.240	+0.070%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.156	−0.021%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0204%	4h	93.230	+0.059%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.51	+10.019%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]long	L +0.0221% / S −0.0149%	1h	93.175	long leg	$81K	—	111x