Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0123%/8h= +13.4% APRpaid last 24h +0.040%

Price spread now: Phoenix against GRVT−0.197%7-day average — · you buy dearer than you sell

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

Long on GRVT Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.310%+$31 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Funding pays, the price is against you. Phoenix is 0.197% cheaper against GRVT than usual: you would sell low and buy high (spread −0.197% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$20 on $10k: about 5.4 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT CL_USDT_Perp	91.881	−0.0114	get 0.0057% / 4h	3h 12m	$73K	$611K	25x
Short	Phoenix WTIOIL	91.700	0.0009	get 0.0001% / 1h	12m 47s	$36K	$39K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.197%Rate

Funding earned: $25.74
Price spread: −0.197% → 0.000%: −$19.69
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$9.95
Costs to cover: 0.160%
Break-even: 9.7 days

Slippage unknown: GRVT: live order book, 20 min ago; Phoenix: 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, 20 min ago	0.54 bp	9.2 bp −$9	10.9 bp −$109	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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	−0.0733%	1h	91.510	−0.404%	$183K	$415K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0318%	1h	91.543	−0.368%	$256K	$945K	25x	as long as short
Aster CLUSD1	−0.0220%	4h	91.374	−0.551%	$24.6M	$59.3M	20x	as long as short
Binance CLUSDT	−0.0131%	4h	91.320	−0.610%	$246.4M	$955.3M	100x	as long as short
GRVT CL_USDT_Perplong	−0.0114%	4h	91.881	long leg	$73K	$611K	25x
Nado WTI-PERP	−0.0100%	1h	91.654	−0.247%	$941K	$600K	10x	as long as short
Variational Omni CL	−0.0099%	4h	91.922	+0.044%	$13.4M	$10.8M	—	as long as short
Gate CL_USDT	−0.0097%	8h	91.320	−0.610%	$23.6M	$51.2M	100x	as long as short
Bitget CLUSDT	−0.0094%	4h	91.260	−0.676%	$41.5M	$42.6M	100x	as long as short
OKX CL-USDT-SWAP	−0.0052%	4h	91.290	−0.643%	$42.2M	$103.9M	50x	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	−0.0051%	1h	92.135	+0.277%	$1K	$27K	5x	as long as short
edgeX CLUSDC	−0.0046%	4h	91.941	+0.065%	$536K	$343K	30x	as long as short
QFEX CL-USD	−0.0026%	1h	91.610	−0.295%	$2.3M	$2.5M	10x	as long as short
tradeXYZ xyz:CL	−0.0017%	1h	91.351	−0.577%	$181.4M	$193.8M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	91.710	−0.186%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	91.300	−0.632%	$26.2M	$85.1M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	91.654	−0.247%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	91.538	−0.373%	$19K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.183	−0.760%	$5K	—	150x	as long as short
Phoenix WTIOILshort	+0.0009%	1h	91.700	−0.197%	$36K	$39K	20x
Lighter WTI	+0.0016%	1h	91.339	−0.590%	$11.1M	$9.0M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	91.670	−0.230%	$400K	$992K	15x	as long as short
Paradex CL-USD-PERP	+0.0016%	8h	91.285	−0.649%	$15K	$367	5x	as long as short
Ondo Perps WTI-USD.P	+0.0029%	1h	91.300	−0.632%	$3.6M	$5.1M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	91.450	−0.469%	$1.7M	$13.8M	10x	as long as short
StandX CL-USD	+0.0040%	1h	91.800	−0.088%	$720K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	91.630	−0.273%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	91.616	−0.288%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	91.500	−0.415%	$2.0M	$69K	20x	as long as short
Pacifica CL	+0.0100%	1h	91.344	−0.584%	$338K	$574K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	91.320	−0.610%	$6.9M	$2.5M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	91.930	+0.053%	$53K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.500	−0.415%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0165% / S −0.0002%	1h	91.525	−0.387%	$78K	—	111x	as long as short
BloFin CL-USDT	+0.0190%	4h	91.500	−0.415%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+11.159%	$19K	$5K	30x	as long as short