Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0275%/8h= +30.1% APRpaid last 24h +0.016%

Price spread now: tradeXYZ against GRVT+0.042%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$350.349% of the position

Long on GRVT Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.173%+$17 on $10k

Price spread, last 4 days (all we have)−0.040%−$4 · spread now +0.042%, 7d avg +0.003%

Together, before fees+0.133%+ Points / potential airdropGRVT: Active · tradeXYZ: Active · farm board+$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and tradeXYZ is 0.039% dearer against GRVT than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.003%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.173% in total (about 9.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT CL_USDT_Perp	93.320	−0.0346	get 0.0173% / 4h	2h 46m	$58K	$649K	25x
Short	tradeXYZ xyz:CL	93.359	−0.0071	pay 0.0009% / 1h	46m 55s	$184.6M	$215.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.042%Rate

Funding earned: $57.67
Price spread: +0.042% → +0.003%: $3.88
Slippage, 4 orders: −$7.91
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $26.64
Costs to cover: 0.349%
Break-even: 3.8 days

Slippage from GRVT: live order book, 1 min ago; tradeXYZ: live order book, 3 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	0.54 bp	10.7 bp −$11	13.8 bp −$138	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 3 min ago	0.05 bp	9.3 bp −$9	9.9 bp −$99	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	−0.0714%	1h	93.310	−0.011%	$197K	$372K	15x	as long as short
GRVT CL_USDT_Perplong	−0.0346%	4h	93.320	long leg	$58K	$649K	25x
Aster CLUSD1	−0.0299%	4h	93.372	+0.056%	$24.4M	$66.5M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.378	+0.062%	$283K	$962K	25x	as long as short
Binance CLUSDT	−0.0198%	4h	93.352	+0.035%	$246.5M	$935.4M	100x	as long as short
Variational Omni CL	−0.0185%	4h	93.329	+0.009%	$13.3M	$10.9M	—	as long as short
Ondo Perps WTI-USD.P	−0.0155%	1h	93.310	−0.011%	$3.5M	$5.4M	20x	as long as short
Aftermath Perps WTIUSD	−0.0140%	1h	93.325	+0.006%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0134%	4h	93.346	+0.028%	$42.1M	$43.1M	100x	as long as short
Nado WTI-PERP	−0.0131%	1h	93.403	+0.089%	$967K	$621K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0075%	4h	93.307	−0.014%	$524K	$306K	30x	as long as short
Gate CL_USDT	−0.0074%	8h	93.310	−0.011%	$21.6M	$49.2M	100x	as long as short
tradeXYZ xyz:CLshort	−0.0071%	1h	93.359	+0.042%	$184.6M	$215.5M	20x
OKX CL-USDT-SWAP	−0.0068%	4h	93.360	+0.043%	$42.6M	$102.6M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	−0.171%	$403K	$929K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.340	+0.021%	$2.3M	$2.1M	10x	as long as short
Paradex CL-USD-PERP	−0.0011%	8h	93.330	+0.011%	$16K	$367	5x	as long as short
Lighter WTI	−0.0008%	1h	93.357	+0.040%	$11.2M	$9.8M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.329	+0.010%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.360	+0.043%	$27.1M	$79.8M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.403	+0.089%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.390	+0.075%	$37K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.358	+0.041%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.907	−0.443%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	93.380	+0.064%	$2.0M	$17.9M	10x	as long as short
KuCoin CLUSDTM	+0.0034%	4h	93.367	+0.050%	$7.1M	$2.4M	50x	as long as short
StandX CL-USD	+0.0040%	1h	93.320	0.000%	$738K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.360	+0.043%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.352	+0.034%	$331K	$576K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.344	+0.026%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.355	+0.038%	$2.1M	$60K	20x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.420	+0.107%	$54K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.322	+0.002%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0172%	4h	93.350	+0.032%	$4.0M	$984K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.57	+9.914%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0232% / S −0.0164%	1h	93.365	+0.048%	$84K	—	111x	as long as short