Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0569%/8h= −62.3% APRpaid last 24h −0.094%

Price spread now: GRVT against GMX−0.020%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 GRVT

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 airdropGRVT: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and GRVT is 0.020% cheaper against GMX than usual: you would sell low and buy high (−$2 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]	93.335	L +0.0229% / S −0.0159%	pay 0.0029% / 1h	53m 26s	$82K	—	111x
Short	GRVT CL_USDT_Perp	93.316	−0.0340	pay 0.0170% / 4h	2h 53m	$58K	$649K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$119.52
Price spread: −0.020% → 0.000%: −$2.01
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$142.53
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; GRVT: live order book, 59 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 GRVT live order book, 59 min ago	1.08 bp	5.6 bp −$6	7.4 bp −$74	doesn't fit	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	−0.0714%	1h	93.250	−0.091%	$197K	$372K	15x	as long as short
GRVT CL_USDT_Perpshort	−0.0340%	4h	93.316	−0.020%	$58K	$649K	25x
Aster CLUSD1	−0.0292%	4h	93.353	+0.019%	$24.3M	$66.5M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.304	−0.033%	$282K	$961K	25x	as long as short
Binance CLUSDT	−0.0196%	4h	93.325	−0.011%	$246.4M	$936.9M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0182%	1h	93.260	−0.080%	$3.5M	$5.3M	20x	as long as short
Variational Omni CL	−0.0180%	4h	93.309	−0.028%	$13.3M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0135%	1h	93.334	−0.001%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0134%	4h	93.318	−0.018%	$42.1M	$43.1M	100x	as long as short
Nado WTI-PERP	−0.0123%	1h	93.378	+0.046%	$967K	$622K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0083%	1h	93.346	+0.012%	$184.6M	$215.4M	20x	as long as short
edgeX CLUSDC	−0.0077%	4h	93.325	−0.011%	$525K	$305K	30x	as long as short
Gate CL_USDT	−0.0074%	8h	93.270	−0.070%	$21.5M	$49.1M	100x	as long as short
OKX CL-USDT-SWAP	−0.0068%	4h	93.320	−0.016%	$42.6M	$102.6M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	−0.187%	$403K	$929K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.310	−0.027%	$2.3M	$2.1M	10x	as long as short
Lighter WTI	−0.0024%	1h	93.313	−0.024%	$11.2M	$9.8M	20x	as long as short
Paradex CL-USD-PERP	−0.0013%	8h	93.305	−0.032%	$16K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	93.329	−0.006%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.344	+0.010%	$27.0M	$79.9M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.373	+0.040%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.370	+0.037%	$37K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.337	+0.002%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.907	−0.459%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0024%	1h	93.370	+0.037%	$2.0M	$18.1M	10x	as long as short
KuCoin CLUSDTM	+0.0030%	4h	93.337	+0.002%	$7.1M	$2.4M	50x	as long as short
StandX CL-USD	+0.0040%	1h	93.280	−0.059%	$738K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.340	+0.005%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.318	−0.018%	$331K	$576K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.329	−0.006%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.285	−0.054%	$2.1M	$60K	20x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.290	−0.048%	$54K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.253	−0.088%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0175%	4h	93.320	−0.016%	$4.0M	$986K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.57	+9.897%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]long	L +0.0229% / S −0.0159%	1h	93.335	long leg	$82K	—	111x