Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0203%/8h= −22.2% APRpaid last 24h −0.094%

Price spread now: Variational Omni against GMX−0.077%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 Variational Omni

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 airdropVariational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Variational Omni is 0.077% cheaper against GMX than usual: you would sell low and buy high (−$8 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]	91.905	L +0.0203% / S −0.0127%	pay 0.0025% / 1h	30m 49s	$76K	—	29x
Short	Variational Omni CL	91.834	0	get 0.0000% / 4h	1h 30m	$13.4M	$13.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.077%Rate

Funding earned: −$42.67
Price spread: −0.077% → 0.000%: −$7.68
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$62.35
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Variational Omni: RFQ quote, 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 Variational Omni RFQ quote, 3 min ago	2.28 bp	doesn't fit	2.3 bp −$23	6.8 bp −$682	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
Lighter WTI	−0.0320%	1h	91.884	−0.023%	$11.0M	$11.2M	20x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0294%	1h	91.930	+0.027%	$95K	$260K	15x	as long as short
Aftermath Perps WTIUSD	−0.0208%	1h	91.886	−0.021%	$2K	$30K	5x	as long as short
Nado WTI-PERP	−0.0190%	1h	91.980	+0.081%	$922K	$750K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0186%	1h	91.840	−0.071%	$3.5M	$6.4M	20x	as long as short
tradeXYZ xyz:CL	−0.0163%	1h	91.937	+0.035%	$185.0M	$284.0M	20x	as long as short
Bullet WTIOIL-USD	−0.0150%	1h	91.906	+0.001%	$19K	$240K	10x	as long as short
Paradex CL-USD-PERP	−0.0099%	8h	91.887	−0.020%	$15K	$367	5x	as long as short
GRVT CL_USDT_Perp	−0.0064%	4h	91.841	−0.070%	$58K	$726K	25x	as long as short
Aster CLUSD1	−0.0059%	4h	91.940	+0.038%	$23.9M	$78.5M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended WTI-USD	−0.0040%	1h	91.985	+0.087%	$2.0M	$29.1M	10x	as long as short
Polymarket Perps WTIOIL-USD	−0.0023%	1h	91.907	+0.002%	$1.6M	$1.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	91.939	+0.037%	$8K	$3K	5x	as long as short
Binance CLUSDT	0.0000%	4h	91.910	+0.005%	$245.4M	$1.12B	100x	as long as short
Bybit CLUSDT	0.0000%	8h	91.931	+0.028%	$25.3M	$97.5M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	91.900	−0.005%	$43.1M	$114.1M	50x	as long as short
QFEX CL-USD	0.0000%	1h	91.880	−0.027%	$2.4M	$2.5M	10x	as long as short
Gate CL_USDT	0.0000%	8h	91.860	−0.049%	$21.2M	$59.1M	100x	as long as short
Bitget CLUSDT	0.0000%	4h	91.913	+0.009%	$42.0M	$56.4M	100x	as long as short
Variational Omni CLshort	0.0000%	4h	91.834	−0.077%	$13.4M	$13.6M	—
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.510	−0.430%	$4K	—	150x	as long as short
ApeX Omni CLUSDT	+0.0003%	1h	91.850	−0.060%	$55K	$266K	50x	as long as short
StandX CL-USD	+0.0008%	1h	91.890	−0.016%	$722K	$3.1M	40x	as long as short
Phoenix WTIOIL	+0.0009%	1h	91.920	+0.016%	$37K	$99K	20x	as long as short
edgeX CLUSDC	+0.0040%	4h	91.919	+0.016%	$529K	$342K	30x	as long as short
Vest CL-PERP	+0.0046%	1h	92.010	+0.114%	—	$243K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	91.905	0.000%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	91.909	+0.005%	$330K	$575K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	91.930	+0.027%	$7.3M	$2.1M	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.880	−0.027%	$4K	—	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0112%	1h	91.720	−0.201%	$384K	$1.2M	15x	as long as short
Injective WTI/USDC PERP	+0.0172%	1h	100.99	+9.888%	$19K	$18K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]long	L +0.0203% / S −0.0127%	1h	91.905	long leg	$76K	—	29x
BloFin CL-USDT	+0.0240%	4h	91.900	−0.005%	$4.0M	$1.5M	50x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0451%	1h	91.916	+0.012%	$259K	$1.2M	25x	as long as short
RISEx CL/USDC	+0.0977%	1h	92.025	+0.130%	$3.2M	$2.8M	20x	as long as short