Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0238%/8h= −26.1% APRpaid last 24h −0.042%

Price spread now: OKX against Injective−8.939%7-day average — · you buy dearer than you sell

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

Long on Injective Short on OKX

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—needs both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and OKX is 8.939% cheaper against Injective than usual: you would sell low and buy high (−$894 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective WTI/USDC PERP	101.83	0.0220	pay 0.0028% / 1h	21m 25s	$19K	$11K	30x
Short	OKX CL-USDT-SWAP	92.730	−0.0018	pay 0.0009% / 4h	2h 21m	$42.8M	$105.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Injective. 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 InjectivebpFee OKXbpOrdersPrice spread, now −8.939%Rate

Funding earned: −$50.02
Price spread: −8.939% → 0.000%: −$893.91
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: −$953.95
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; OKX: live order book, 3 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell OKX live order book, 3 min ago	0.54 bp	5.5 bp −$6	6.4 bp −$64	13.2 bp −$1,317	110.2 bp −$55.1K

Injective: 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 35 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	−0.0504%	1h	92.720	−8.949%	$198K	$365K	15x	as long as short
Aster CLUSD1	−0.0303%	4h	92.774	−8.896%	$23.9M	$72.9M	20x	as long as short
GRVT CL_USDT_Perp	−0.0266%	4h	92.727	−8.942%	$53K	$631K	25x	as long as short
Binance CLUSDT	−0.0256%	4h	92.740	−8.929%	$244.2M	$978.3M	100x	as long as short
Variational Omni CL	−0.0256%	4h	92.710	−8.959%	$13.3M	$11.1M	—	as long as short
Gate CL_USDT	−0.0124%	8h	92.680	−8.988%	$20.8M	$53.7M	100x	as long as short
Nado WTI-PERP	−0.0060%	1h	92.777	−8.893%	$965K	$676K	10x	as long as short
tradeXYZ xyz:CL	−0.0053%	1h	92.747	−8.922%	$184.3M	$220.4M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−8.920%	$402K	$946K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0040%	1h	92.690	−8.978%	$3.5M	$5.7M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.777	−8.893%	$270K	$877K	25x	as long as short
QFEX CL-USD	−0.0033%	1h	92.730	−8.939%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAPshort	−0.0018%	4h	92.730	−8.939%	$42.8M	$105.0M	50x
dYdX WTI-USD	0.0000%	1h	92.757	−8.912%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.758	−8.912%	$26.8M	$82.5M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.734	−8.935%	$41.9M	$44.2M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	−8.880%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.737	−8.932%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.303	−9.358%	$5K	—	150x	as long as short
Aftermath Perps WTIUSD	+0.0027%	1h	92.781	−8.889%	$2K	$28K	5x	as long as short
Paradex CL-USD-PERP	+0.0027%	8h	92.730	−8.939%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	92.746	−8.923%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.790	−8.880%	$2.1M	$24.6M	10x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.862	−8.809%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.350	−9.312%	$726K	$3.0M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.760	−8.910%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.742	−8.927%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.745	−8.924%	$2.1M	$61K	20x	as long as short
edgeX CLUSDC	+0.0058%	4h	92.744	−8.926%	$533K	$297K	30x	as long as short
KuCoin CLUSDTM	+0.0074%	4h	92.744	−8.925%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.729	−8.940%	$331K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.820	−8.851%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.705	−8.964%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.735	−8.934%	$78K	—	111x	as long as short
Injective WTI/USDC PERPlong	+0.0220%	1h	101.83	long leg	$19K	$11K	30x