Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0066%/8h= −7.2% APRpaid last 24h −0.045%

Price spread now: KuCoin against GMX+0.006%74s7-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 KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 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: −$2 a day on $10k at the current rate. The two prices were read 74 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]	92.935	L +0.0166% / S 0.0000%	pay 0.0021% / 1h	41m 05s	$85K	—	111x
Short	KuCoin CLUSDTM	92.941	0.0100	get 0.0050% / 4h	3h 41m	$7.0M	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$13.88
Price spread: +0.006% → 0.000%: $0.65
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$37.23
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 7 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 KuCoin live order book, 7 min ago	1.67 bp	10.3 bp −$10	doesn't fit	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	−0.0503%	1h	92.900	−0.038%	$188K	$409K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0313%	1h	92.940	+0.006%	$270K	$930K	25x	as long as short
Aster CLUSD1	−0.0234%	4h	92.960	+0.027%	$24.7M	$61.2M	20x	as long as short
Gate CL_USDT	−0.0165%	8h	92.850	−0.091%	$23.4M	$49.2M	100x	as long as short
Binance CLUSDT	−0.0134%	4h	92.990	+0.059%	$246.4M	$930.4M	100x	as long as short
GRVT CL_USDT_Perp	−0.0124%	4h	93.007	+0.078%	$74K	$614K	25x	as long as short
Variational Omni CL	−0.0120%	4h	92.980	+0.048%	$13.6M	$10.7M	—	as long as short
Nado WTI-PERP	−0.0102%	1h	92.912	−0.025%	$951K	$608K	10x	as long as short
Bitget CLUSDT	−0.0088%	4h	92.915	−0.022%	$42.0M	$41.7M	100x	as long as short
Aftermath Perps WTIUSD	−0.0069%	1h	92.982	+0.050%	$2K	$27K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAP	−0.0053%	4h	92.930	−0.005%	$42.6M	$103.2M	50x	as long as short
tradeXYZ xyz:CL	−0.0027%	1h	92.931	−0.004%	$184.3M	$196.5M	20x	as long as short
QFEX CL-USD	−0.0026%	1h	92.900	−0.038%	$2.3M	$2.4M	10x	as long as short
edgeX CLUSDC	−0.0020%	4h	92.998	+0.068%	$542K	$343K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	92.960	+0.027%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.962	+0.029%	$27.5M	$80.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.942	+0.008%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.934	−0.001%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.507	−0.461%	$5K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.930	−0.005%	$37K	$39K	20x	as long as short
Paradex CL-USD-PERP	+0.0010%	8h	92.873	−0.066%	$16K	$367	5x	as long as short
Ondo Perps WTI-USD.P	+0.0014%	1h	92.880	−0.059%	$3.6M	$5.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	93.160	+0.242%	$404K	$794K	15x	as long as short
Lighter WTI	+0.0032%	1h	92.932	−0.003%	$11.3M	$8.8M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.960	+0.027%	$1.7M	$14.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.020	+0.091%	$733K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.920	−0.016%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.920	−0.016%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.935	0.000%	$2.1M	$64K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.906	−0.032%	$346K	$586K	10x	as long as short
KuCoin CLUSDTMshort	+0.0100%	4h	92.941	+0.006%	$7.0M	$2.4M	50x
ApeX Omni CLUSDT	+0.0100%	1h	92.960	+0.027%	$54K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.909	−0.028%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]long	L +0.0166% / S 0.0000%	1h	92.935	long leg	$85K	—	111x
BloFin CL-USDT	+0.0187%	4h	92.880	−0.059%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.898%	$19K	$5K	30x	as long as short