Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0276%/8h= +30.2% APRpaid last 24h +0.086%

Price spread now: GMX against GRVT+0.219%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GRVT Short on GMX

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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and GMX is 0.219% dearer against GRVT than usual: you sell high and buy low: +$22 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT CL_USDT_Perp	90.248	−0.0092	get 0.0046% / 4h	3h 03m	$70K	$616K	25x
Short	GMX WTIOIL/USD [ETH-USDC]	90.445	L +0.0254% / S −0.0184%	get 0.0023% / 1h	3m 05s	$84K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.219%Rate

Funding earned: $57.92
Price spread: +0.219% → 0.000%: $21.88
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: $58.8
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: GRVT: live order book, 30 min ago; GMX: 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 GRVT live order book, 30 min ago	0.54 bp	9.2 bp −$9	10.9 bp −$109	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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
Kraken Futures PF_WTIOILUSD	−0.0321%	1h	90.539	+0.323%	$266K	$1.0M	25x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0302%	1h	90.450	+0.224%	$181K	$415K	15x	as long as short
Aster CLUSD1	−0.0209%	4h	90.481	+0.258%	$24.6M	$60.5M	20x	as long as short
Binance CLUSDT	−0.0126%	4h	90.494	+0.273%	$245.7M	$1.01B	100x	as long as short
Gate CL_USDT	−0.0103%	8h	90.400	+0.169%	$23.0M	$52.9M	100x	as long as short
Bitget CLUSDT	−0.0102%	4h	90.446	+0.220%	$40.7M	$45.3M	100x	as long as short
Variational Omni CL	−0.0102%	4h	90.380	+0.147%	$13.1M	$10.9M	—	as long as short
Nado WTI-PERP	−0.0093%	1h	90.623	+0.416%	$935K	$600K	10x	as long as short
GRVT CL_USDT_Perplong	−0.0092%	4h	90.248	long leg	$70K	$616K	25x
edgeX CLUSDC	−0.0071%	4h	90.283	+0.039%	$527K	$342K	30x	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	−0.0051%	4h	90.460	+0.235%	$41.3M	$109.9M	50x	as long as short
Aftermath Perps WTIUSD	−0.0039%	1h	90.815	+0.628%	$1K	$27K	5x	as long as short
QFEX CL-USD	−0.0026%	1h	90.580	+0.368%	$2.2M	$2.9M	10x	as long as short
tradeXYZ xyz:CL	−0.0023%	1h	90.453	+0.228%	$177.2M	$204.2M	20x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	90.102	−0.161%	$1K	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	90.574	+0.362%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	90.464	+0.240%	$25.9M	$89.8M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	90.625	+0.418%	$2.9M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	90.525	+0.307%	$18K	$238K	10x	as long as short
Phoenix WTIOIL	+0.0009%	1h	90.590	+0.379%	$36K	$39K	20x	as long as short
Paradex CL-USD-PERP	+0.0016%	8h	90.523	+0.305%	$15K	$367	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	90.300	+0.058%	$406K	$1.0M	15x	as long as short
Lighter WTI	+0.0024%	1h	90.403	+0.172%	$11.0M	$9.4M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	90.500	+0.280%	$1.6M	$13.6M	10x	as long as short
Ondo Perps WTI-USD.P	+0.0034%	1h	90.550	+0.335%	$3.5M	$5.1M	20x	as long as short
StandX CL-USD	+0.0040%	1h	90.620	+0.413%	$705K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	90.540	+0.324%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	90.558	+0.344%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	90.430	+0.202%	$2.0M	$79K	20x	as long as short
Pacifica CL	+0.0100%	1h	90.558	+0.344%	$335K	$573K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	90.462	+0.238%	$6.9M	$2.8M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	90.430	+0.202%	$53K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	90.457	+0.232%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0190%	4h	90.480	+0.258%	$4.1M	$997K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+13.171%	$19K	$5K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]short	L +0.0254% / S −0.0184%	1h	90.445	+0.219%	$84K	—	111x