Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0153%/8h= +16.8% APRpaid last 24h +0.022%

Price spread now: QFEX against GRVT+0.017%57s7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$280.282% of the position

Long on GRVT Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.015%−$1 on $10k

Price spread, last 4 days (all we have)−0.043%−$4 · spread now +0.017%, 7d avg −0.015%

Together, before fees−0.058%+ Points / potential airdropGRVT: Active · farm board−$6 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 QFEX is 0.032% dearer against GRVT than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.015%. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT CL_USDT_Perp	93.024	−0.0186	get 0.0093% / 4h	3h 52m	$54K	$658K	25x
Short	QFEX CL-USD	93.040	−0.0033	pay 0.0004% / 1h	52m 04s	$2.3M	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.017%Rate

Funding earned: $32.19
Price spread: +0.017% → −0.015%: $3.19
Slippage, 4 orders: −$9.16
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee QFEX: 5 bp × 2 orders: −$10
Net: $7.22
Costs to cover: 0.282%
Break-even: 5.4 days

Slippage from GRVT: live order book, 1 min ago; QFEX: 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, 1 min ago	1.08 bp	8.6 bp −$9	12.2 bp −$122	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	1.61 bp	6.6 bp −$7	6.6 bp −$66	8.5 bp −$848	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	−0.0287%	1h	93.040	+0.017%	$198K	$370K	15x	as long as short
Aster CLUSD1	−0.0266%	4h	93.080	+0.060%	$24.1M	$66.6M	20x	as long as short
GRVT CL_USDT_Perplong	−0.0186%	4h	93.024	long leg	$54K	$658K	25x
Binance CLUSDT	−0.0176%	4h	93.050	+0.029%	$244.8M	$942.4M	100x	as long as short
Variational Omni CL	−0.0168%	4h	93.019	−0.005%	$13.5M	$10.8M	—	as long as short
Bitget CLUSDT	−0.0126%	4h	93.038	+0.015%	$42.0M	$43.3M	100x	as long as short
Nado WTI-PERP	−0.0118%	1h	93.114	+0.097%	$964K	$645K	10x	as long as short
Aftermath Perps WTIUSD	−0.0109%	1h	93.031	+0.008%	$2K	$27K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0092%	1h	93.020	−0.004%	$3.5M	$5.3M	20x	as long as short
edgeX CLUSDC	−0.0082%	4h	93.040	+0.018%	$527K	$303K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.083	+0.064%	$268K	$935K	25x	as long as short
Gate CL_USDT	−0.0046%	8h	93.010	−0.015%	$20.9M	$50.7M	100x	as long as short
OKX CL-USDT-SWAP	−0.0044%	4h	93.060	+0.039%	$42.6M	$102.5M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.930	−0.101%	$399K	$926K	15x	as long as short
QFEX CL-USDshort	−0.0033%	1h	93.040	+0.017%	$2.3M	$1.8M	10x
KuCoin CLUSDTM	−0.0020%	4h	93.068	+0.047%	$7.1M	$2.4M	50x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.050	+0.028%	$37K	$41K	20x	as long as short
tradeXYZ xyz:CL	−0.0004%	1h	93.058	+0.037%	$184.6M	$218.6M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.030	+0.007%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.080	+0.060%	$26.5M	$80.4M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.136	+0.121%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.067	+0.046%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.602	−0.453%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0010%	8h	93.051	+0.029%	$16K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	93.051	+0.029%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.090	+0.071%	$2.0M	$19.8M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.020	−0.004%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.070	+0.050%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.066	+0.045%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.059	+0.038%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.069	+0.048%	$330K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.030	+0.007%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.025	+0.001%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0194%	4h	93.030	+0.007%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0218% / S −0.0146%	1h	93.055	+0.034%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.17	+9.828%	$19K	$11K	30x	as long as short