Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0360%/8h= +39.4% APRpaid last 24h +0.010%

Price spread now: Extended against GRVT+0.072%7-day average −0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs+$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$190.195% of the position

Long on GRVT Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.302%+$30 on $10k

Price spread, last 3 days (all we have)−0.069%−$7 · spread now +0.072%, 7d avg −0.032%

Together, before fees+0.232%+ Points / potential airdropGRVT: Active · Extended: Active · farm board+$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Extended is 0.104% dearer against GRVT than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT CL_USDT_Perp	92.193	−0.0328	get 0.0164% / 4h	3h 59m	$58K	$702K	25x
Short	Extended WTI-USD	92.260	0.0032	get 0.0004% / 1h	59m 03s	$2.0M	$26.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.072%Rate

Funding earned: $75.6
Price spread: +0.072% → −0.032%: $10.45
Slippage, 4 orders: −$5.48
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $66.57
Costs to cover: 0.195%
Break-even: 0.8 days

Slippage from GRVT: live order book, 14 min ago; Extended: live order book, 5 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, 14 min ago	0.54 bp	7.7 bp −$8	10.4 bp −$104	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	0.22 bp	3.8 bp −$4	7.6 bp −$76	24.2 bp −$2,420	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
GRVT CL_USDT_Perplong	−0.0328%	4h	92.193	long leg	$58K	$702K	25x
Aster CLUSD1	−0.0299%	4h	92.230	+0.040%	$23.9M	$77.5M	20x	as long as short
Binance CLUSDT	−0.0223%	4h	92.220	+0.029%	$244.4M	$1.08B	100x	as long as short
Variational Omni CL	−0.0206%	4h	92.193	−0.001%	$13.2M	$12.7M	—	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0183%	1h	92.260	+0.072%	$96K	$189K	15x	as long as short
Nado WTI-PERP	−0.0131%	1h	92.294	+0.109%	$925K	$733K	10x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.278	+0.092%	$273K	$1.2M	25x	as long as short
QFEX CL-USD	−0.0054%	1h	92.240	+0.051%	$2.4M	$2.3M	10x	as long as short
Lighter WTI	−0.0048%	1h	92.256	+0.068%	$11.2M	$9.9M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.177%	$399K	$962K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0033%	8h	92.170	−0.025%	$21.3M	$53.9M	100x	as long as short
Paradex CL-USD-PERP	−0.0031%	8h	92.224	+0.034%	$15K	$367	5x	as long as short
Ondo Perps WTI-USD.P	−0.0027%	1h	92.180	−0.014%	$3.5M	$6.4M	20x	as long as short
Pacifica CL	−0.0020%	1h	92.246	+0.058%	$353K	$596K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.269	+0.082%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.210	+0.018%	$26.0M	$94.1M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.210	+0.018%	$43.0M	$111.5M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.356	+0.177%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.218	+0.027%	$42.0M	$51.5M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.300	+0.116%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.246	+0.057%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.816	−0.409%	$5K	—	150x	as long as short
tradeXYZ xyz:CL	+0.0019%	1h	92.241	+0.052%	$186.1M	$267.3M	20x	as long as short
edgeX CLUSDC	+0.0021%	4h	92.241	+0.052%	$530K	$326K	30x	as long as short
Extended WTI-USDshort	+0.0032%	1h	92.260	+0.072%	$2.0M	$26.6M	10x
StandX CL-USD	+0.0040%	1h	92.210	+0.018%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.280	+0.094%	—	$308K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.259	+0.071%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.246	+0.057%	$2.0M	$39K	20x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.251	+0.063%	$7.3M	$2.2M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.220	+0.029%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.225	+0.035%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0205% / S −0.0130%	1h	92.255	+0.067%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.34	+9.917%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.220	+0.029%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0514%	1h	92.256	+0.068%	$2K	$29K	5x	as long as short