Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0166%/8h= +18.2% APRpaid last 24h +0.029%

Price spread now: Coinbase International against GRVT−0.024%7-day average −0.122% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$290.290% of the position

Long on GRVT Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)−0.041%−$4 · spread now −0.024%, 7d avg −0.122%

Together, before fees−0.031%+ Points / potential airdropGRVT: Active · farm board−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Coinbase International is 0.098% dearer against GRVT than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.122%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT CL_USDT_Perp	93.182	−0.0150	get 0.0075% / 4h	3h 54m	$75K	$614K	25x
Short	Coinbase International WTIOIL-PERP-INTX	93.160	0.0016	get 0.0002% / 1h	54m 42s	$404K	$808K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against GRVT. 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 GRVTbpFee Coinbase InternationalbpOrdersPrice spread, now −0.024%Rate

Funding earned: $34.86
Price spread: −0.024% → −0.122%: $9.82
Slippage, 4 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $15.68
Costs to cover: 0.290%
Break-even: 3.9 days

Slippage from GRVT: live order book, 43 min ago; Coinbase International: live order book, 19 min ago.

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 GRVT live order book, 43 min ago	0.54 bp	8.0 bp −$8	11.2 bp −$112	doesn't fit	doesn't fit
Sell Coinbase International live order book, 19 min ago	1.08 bp	8.2 bp −$8	9.8 bp −$98	doesn't fit	doesn't fit

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	−0.0718%	1h	92.870	−0.335%	$188K	$406K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0313%	1h	92.926	−0.275%	$271K	$931K	25x	as long as short
Aster CLUSD1	−0.0244%	4h	92.958	−0.240%	$24.7M	$61.6M	20x	as long as short
Gate CL_USDT	−0.0216%	8h	92.860	−0.346%	$23.3M	$48.6M	100x	as long as short
GRVT CL_USDT_Perplong	−0.0150%	4h	93.182	long leg	$75K	$614K	25x
Binance CLUSDT	−0.0137%	4h	92.940	−0.260%	$245.9M	$928.6M	100x	as long as short
Nado WTI-PERP	−0.0124%	1h	92.966	−0.232%	$952K	$613K	10x	as long as short
Variational Omni CL	−0.0122%	4h	92.970	−0.228%	$13.5M	$10.7M	—	as long as short
Bitget CLUSDT	−0.0096%	4h	92.931	−0.270%	$42.0M	$41.6M	100x	as long as short
tradeXYZ xyz:CL	−0.0090%	1h	92.924	−0.277%	$184.0M	$195.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps WTIUSD	−0.0080%	1h	93.088	−0.101%	$2K	$26K	5x	as long as short
OKX CL-USDT-SWAP	−0.0066%	4h	92.930	−0.271%	$42.5M	$103.1M	50x	as long as short
Ondo Perps WTI-USD.P	−0.0051%	1h	92.920	−0.281%	$3.6M	$5.3M	20x	as long as short
QFEX CL-USD	−0.0026%	1h	92.930	−0.271%	$2.3M	$2.5M	10x	as long as short
edgeX CLUSDC	−0.0020%	4h	93.079	−0.111%	$534K	$332K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	92.953	−0.246%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.936	−0.264%	$27.1M	$80.4M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.979	−0.218%	$3.0M	$2.8M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.120	−0.067%	$37K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.916	−0.286%	$18K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.491	−0.742%	$5K	—	150x	as long as short
Lighter WTI	+0.0008%	1h	92.931	−0.270%	$11.2M	$8.6M	20x	as long as short
Paradex CL-USD-PERP	+0.0009%	8h	92.943	−0.257%	$16K	$367	5x	as long as short
Coinbase International WTIOIL-PERP-INTXshort	+0.0016%	1h	93.160	−0.024%	$404K	$808K	15x
Extended WTI-USD	+0.0032%	1h	92.960	−0.238%	$1.7M	$14.9M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.070	−0.120%	$734K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.950	−0.249%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.921	−0.280%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.898	−0.305%	$2.1M	$62K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.950	−0.249%	$346K	$587K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.914	−0.288%	$7.0M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.260	+0.084%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.890	−0.314%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0166% / S 0.0000%	1h	92.905	−0.297%	$85K	—	111x	as long as short
BloFin CL-USDT	+0.0175%	4h	92.930	−0.271%	$4.1M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.607%	$19K	$5K	30x	as long as short