Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0147%/8h= +16.1% APRpaid last 24h +0.036%

Price spread now: ApeX Omni against OKX−0.279%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$520.516% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.309%+$31 on $10k

Price spread, last 4 days (all we have)+0.279%+$28 · spread now −0.279%, 7d avg −0.004%

Together, before fees+0.589%+$59 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.276% cheaper against OKX than usual: you would sell low and buy high (spread −0.279% now, against its 7-day average of −0.004%). If the spread goes back, that is −$28 on $10k: about 6.3 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	OKX CL-USDT-SWAP	93.030	−0.0047	get 0.0023% / 4h	3h 29m	$42.5M	$102.7M	50x
Short	ApeX Omni CLUSDT	92.770	0.0100	get 0.0013% / 1h	29m 13s	$54K	$266K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now −0.279%Rate

Funding earned: $30.83
Price spread: −0.279% → −0.004%: −$27.56
Slippage, 4 orders: −$31.59
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$48.32
Costs to cover: 0.516%
Break-even: 18.0 days

Slippage from OKX: live order book, 5 min ago; ApeX Omni: 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 OKX live order book, 5 min ago	0.54 bp	6.5 bp −$7	7.4 bp −$74	15.9 bp −$1,585	doesn't fit
Sell ApeX Omni live order book, 3 min ago	8.63 bp	20.3 bp −$20	201.3 bp −$2,013	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	−0.0502%	1h	93.000	−0.032%	$188K	$410K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0313%	1h	93.014	−0.017%	$272K	$938K	25x	as long as short
Aster CLUSD1	−0.0226%	4h	93.054	+0.026%	$25.0M	$60.2M	20x	as long as short
Binance CLUSDT	−0.0123%	4h	93.039	+0.010%	$246.3M	$928.8M	100x	as long as short
Variational Omni CL	−0.0109%	4h	92.750	−0.301%	$13.5M	$10.7M	—	as long as short
Gate CL_USDT	−0.0102%	8h	92.990	−0.043%	$23.5M	$49.8M	100x	as long as short
Nado WTI-PERP	−0.0102%	1h	92.967	−0.067%	$952K	$598K	10x	as long as short
GRVT CL_USDT_Perp	−0.0094%	4h	92.724	−0.329%	$74K	$601K	25x	as long as short
edgeX CLUSDC	−0.0091%	4h	92.745	−0.306%	$541K	$343K	30x	as long as short
Bitget CLUSDT	−0.0074%	4h	93.048	+0.019%	$42.3M	$41.6M	100x	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	−0.0071%	1h	92.844	−0.200%	$1K	$27K	5x	as long as short
OKX CL-USDT-SWAPlong	−0.0047%	4h	93.030	long leg	$42.5M	$102.7M	50x
QFEX CL-USD	−0.0026%	1h	92.980	−0.054%	$2.3M	$2.4M	10x	as long as short
tradeXYZ xyz:CL	−0.0013%	1h	93.065	+0.038%	$184.7M	$192.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.988	−0.045%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.080	+0.054%	$27.5M	$81.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.017	−0.014%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.000	−0.032%	$18K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.549	−0.517%	$5K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.750	−0.301%	$37K	$39K	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	92.610	−0.451%	$412K	$814K	15x	as long as short
Paradex CL-USD-PERP	+0.0016%	8h	92.949	−0.087%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	93.008	−0.024%	$11.3M	$8.8M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.010	−0.021%	$1.7M	$14.2M	10x	as long as short
Ondo Perps WTI-USD.P	+0.0038%	1h	92.940	−0.097%	$3.6M	$5.2M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.930	−0.107%	$731K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.950	−0.086%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.982	−0.052%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.015	−0.016%	$2.1M	$69K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.001	−0.031%	$346K	$584K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.040	+0.011%	$7.1M	$2.5M	50x	as long as short
ApeX Omni CLUSDTshort	+0.0100%	1h	92.770	−0.279%	$54K	$266K	50x
Aevo WTIOIL-PERP	+0.0104%	1h	92.993	−0.040%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0166% / S −0.0007%	1h	92.935	−0.102%	$80K	—	111x	as long as short
BloFin CL-USDT	+0.0193%	4h	92.930	−0.107%	$4.1M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.786%	$19K	$5K	30x	as long as short