Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0185%/8h= −20.2% APRpaid last 24h −0.075%

Price spread now: Paradex against GMX−0.024%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 Paradex

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 airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Paradex is 0.024% 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]	92.745	L +0.0207% / S −0.0131%	pay 0.0026% / 1h	41m 59s	$78K	—	111x
Short	Paradex CL-USD-PERP	92.723	0.0022	get 0.0022% / 8h	6h 41m	$16K	$367	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$38.83
Price spread: −0.024% → 0.000%: −$2.36
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$57.19
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Paradex: no order-book sample. 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 Paradex no order-book sample	—	—	—	—	—

GMX and Paradex: 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	−0.0504%	1h	92.740	−0.005%	$198K	$366K	15x	as long as short
Aster CLUSD1	−0.0335%	4h	92.794	+0.053%	$23.9M	$74.8M	20x	as long as short
GRVT CL_USDT_Perp	−0.0310%	4h	92.743	−0.002%	$50K	$632K	25x	as long as short
Binance CLUSDT	−0.0276%	4h	92.780	+0.038%	$244.6M	$997.9M	100x	as long as short
Variational Omni CL	−0.0272%	4h	92.751	+0.006%	$13.3M	$11.2M	—	as long as short
Gate CL_USDT	−0.0163%	8h	92.720	−0.027%	$20.9M	$52.9M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0070%	1h	92.730	−0.016%	$3.5M	$5.8M	20x	as long as short
tradeXYZ xyz:CL	−0.0065%	1h	92.778	+0.036%	$185.3M	$225.1M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.030	−0.771%	$399K	$942K	15x	as long as short
Nado WTI-PERP	−0.0040%	1h	92.768	+0.025%	$934K	$680K	10x	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	−0.0038%	1h	92.774	+0.031%	$275K	$871K	25x	as long as short
QFEX CL-USD	−0.0033%	1h	92.700	−0.049%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0012%	4h	92.780	+0.038%	$42.8M	$106.4M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.754	+0.009%	$8K	$3K	5x	as long as short
Extended WTI-USD	0.0000%	1h	92.820	+0.081%	$2.1M	$25.1M	10x	as long as short
Bybit CLUSDT	0.0000%	8h	92.797	+0.056%	$26.4M	$83.2M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.777	+0.035%	$42.0M	$46.0M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	+0.049%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.733	−0.013%	$18K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.309	−0.470%	$5K	—	150x	as long as short
Paradex CL-USD-PERPshort	+0.0022%	8h	92.723	−0.024%	$16K	$367	5x
Lighter WTI	+0.0032%	1h	92.777	+0.035%	$11.2M	$10.1M	20x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.824	+0.085%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.350	−0.426%	$726K	$3.0M	40x	as long as short
edgeX CLUSDC	+0.0041%	4h	92.772	+0.029%	$533K	$300K	30x	as long as short
Vest CL-PERP	+0.0046%	1h	92.760	+0.016%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.728	−0.018%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.760	+0.016%	$2.1M	$61K	20x	as long as short
Aftermath Perps WTIUSD	+0.0058%	1h	92.784	+0.042%	$2K	$28K	5x	as long as short
KuCoin CLUSDTM	+0.0070%	4h	92.825	+0.086%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.733	−0.013%	$331K	$616K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.740	−0.005%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.721	−0.026%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]long	L +0.0207% / S −0.0131%	1h	92.745	long leg	$78K	—	111x
Injective WTI/USDC PERP	+0.0220%	1h	101.93	+9.907%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0228%	4h	92.730	−0.016%	$4.0M	$1.2M	50x	as long as short