Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0075%/8h= +8.2% APRpaid last 24h +0.011%

Price spread now: Extended against OKX+0.054%7-day average −0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs+$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$180.182% of the position

Long on OKX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.200%+$20 on $10k

Price spread, last 7 days−0.102%−$10 · spread now +0.054%, 7d avg −0.036%

Together, before fees+0.098%+ Points / potential airdropExtended: Active · farm board+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Extended is 0.090% dearer against OKX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CL-USDT-SWAP	93.120	−0.0067	get 0.0033% / 4h	37m 54s	$42.7M	$102.7M	50x
Short	Extended WTI-USD	93.170	0.0008	get 0.0001% / 1h	37m 54s	$1.6M	$15.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.054%Rate

Funding earned: $15.74
Price spread: +0.054% → −0.036%: $8.96
Slippage, 4 orders: −$3.21
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $6.49
Costs to cover: 0.182%
Break-even: 4.1 days

Slippage from OKX: live order book, 1 min ago; Extended: live order book, 6 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, 1 min ago	0.54 bp	5.5 bp −$6	6.2 bp −$62	14.0 bp −$1,404	doesn't fit
Sell Extended live order book, 6 min ago	0.05 bp	2.7 bp −$3	6.5 bp −$65	25.8 bp −$2,580	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	−0.0608%	1h	93.170	+0.054%	$195K	$393K	15x	as long as short
Aster CLUSD1	−0.0287%	4h	93.165	+0.048%	$24.7M	$64.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0272%	4h	93.210	+0.097%	$75K	$636K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0209%	1h	93.204	+0.090%	$275K	$938K	25x	as long as short
Binance CLUSDT	−0.0163%	4h	93.130	+0.011%	$246.7M	$920.5M	100x	as long as short
Variational Omni CL	−0.0151%	4h	93.187	+0.072%	$13.4M	$10.6M	—	as long as short
Gate CL_USDT	−0.0130%	8h	93.070	−0.054%	$22.9M	$49.0M	100x	as long as short
Bitget CLUSDT	−0.0124%	4h	93.158	+0.041%	$42.2M	$41.6M	100x	as long as short
Aftermath Perps WTIUSD	−0.0112%	1h	93.269	+0.160%	$2K	$26K	5x	as long as short
Nado WTI-PERP	−0.0090%	1h	93.258	+0.148%	$957K	$623K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAPlong	−0.0067%	4h	93.120	long leg	$42.7M	$102.7M	50x
QFEX CL-USD	−0.0038%	1h	93.210	+0.097%	$2.3M	$2.4M	10x	as long as short
tradeXYZ xyz:CL	−0.0031%	1h	93.179	+0.063%	$184.0M	$199.4M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0031%	1h	93.200	+0.086%	$3.6M	$5.3M	20x	as long as short
Lighter WTI	−0.0024%	1h	93.187	+0.072%	$11.2M	$9.1M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.451%	$405K	$810K	15x	as long as short
Paradex CL-USD-PERP	−0.0003%	8h	93.195	+0.080%	$16K	$367	5x	as long as short
edgeX CLUSDC	−0.0001%	4h	93.217	+0.104%	$524K	$304K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	93.266	+0.157%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.130	+0.011%	$26.7M	$79.1M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.252	+0.141%	$3.0M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.410	+0.311%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.192	+0.077%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.747	−0.401%	$5K	—	150x	as long as short
Extended WTI-USDshort	+0.0008%	1h	93.170	+0.054%	$1.6M	$15.0M	10x
StandX CL-USD	+0.0040%	1h	93.290	+0.183%	$739K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.210	+0.097%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.192	+0.077%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.192	+0.077%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.227	+0.115%	$348K	$593K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.199	+0.085%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.200	+0.086%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.171	+0.054%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0176%	4h	93.210	+0.097%	$4.0M	$983K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.83	+10.430%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0254% / S −0.0190%	1h	93.195	+0.081%	$83K	—	111x	as long as short