Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.002%

Price spread now: Ondo Perps against OKX−0.098%7-day average −0.065% · you buy dearer than you sell

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

Long on OKX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.194%+$19 on $10k

Price spread, last 7 days+0.185%+$18 · spread now −0.098%, 7d avg −0.065%

Together, before fees+0.379%+ Points / potential airdropOndo Perps: Active · farm board+$38 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.033% cheaper against OKX than usual: you would sell low and buy high (spread −0.098% now, against its 7-day average of −0.065%). If the spread goes back, that is −$3 on $10k: about 2.2 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CL-USDT-SWAP	91.930	0	get 0.0000% / 4h	2h 05m	$43.0M	$116.6M	50x
Short	Ondo Perps WTI-USD.P	91.840	0.0050	get 0.0006% / 1h	5m 27s	$3.5M	$6.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.098%Rate

Funding earned: $10.58
Price spread: −0.098% → −0.065%: −$3.31
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$7.73
Costs to cover: 0.150%
Break-even: 12.1 days

Slippage unknown: OKX: live order book, 4 min ago; Ondo Perps: no order-book sample. 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 OKX live order book, 4 min ago	0.54 bp	5.6 bp −$6	8.0 bp −$80	19.6 bp −$1,960	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
QFEX CL-USD	−0.0019%	1h	91.940	+0.011%	$2.4M	$2.6M	10x	as long as short
Aster CLUSD1	0.0000%	4h	91.959	+0.032%	$24.5M	$77.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	91.937	+0.008%	$8K	$3K	5x	as long as short
Binance CLUSDT	0.0000%	4h	91.970	+0.044%	$246.4M	$1.14B	100x	as long as short
Bybit CLUSDT	0.0000%	8h	91.950	+0.022%	$25.2M	$99.9M	150x	as long as short
OKX CL-USDT-SWAPlong	0.0000%	4h	91.930	long leg	$43.0M	$116.6M	50x
Gate CL_USDT	0.0000%	8h	91.890	−0.044%	$21.2M	$63.4M	100x	as long as short
Bitget CLUSDT	0.0000%	4h	91.945	+0.016%	$42.1M	$67.3M	100x	as long as short
Variational Omni CL	0.0000%	4h	91.913	−0.019%	$13.6M	$16.1M	—	as long as short
GRVT CL_USDT_Perp	0.0000%	4h	91.871	−0.065%	$58K	$774K	25x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet WTIOIL-USD	0.0000%	1h	91.948	+0.020%	$17K	$241K	10x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	0.0000%	1h	91.980	+0.054%	$95K	$260K	15x	as long as short
Aftermath Perps WTIUSD	+0.0003%	1h	91.865	−0.071%	$2K	$31K	5x	as long as short
Phoenix WTIOIL	+0.0009%	1h	91.990	+0.065%	$33K	$99K	20x	as long as short
Paradex CL-USD-PERP	+0.0012%	8h	91.932	+0.003%	$15K	$367	5x	as long as short
edgeX CLUSDC	+0.0022%	4h	91.866	−0.069%	$528K	$341K	30x	as long as short
Lighter WTI	+0.0032%	1h	91.877	−0.058%	$11.0M	$12.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	91.959	+0.032%	$2.0M	$29.5M	10x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	91.880	−0.054%	$17K	$18K	30x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0040%	1h	91.970	+0.044%	$257K	$1.3M	25x	as long as short
StandX CL-USD	+0.0040%	1h	91.970	+0.044%	$725K	$3.1M	40x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0040%	1h	92.080	+0.163%	$393K	$1.3M	15x	as long as short
Vest CL-PERP	+0.0046%	1h	92.020	+0.098%	—	$243K	10x	as long as short
tradeXYZ xyz:CL	+0.0050%	1h	91.941	+0.012%	$182.5M	$289.8M	20x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	91.933	+0.003%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	91.943	+0.014%	$2.0M	$39K	20x	as long as short
Ondo Perps WTI-USD.Pshort	+0.0050%	1h	91.840	−0.098%	$3.5M	$6.5M	20x
Pacifica CL	+0.0100%	1h	91.957	+0.030%	$336K	$573K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	91.924	−0.007%	$7.3M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	91.910	−0.022%	$55K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.911	−0.021%	$4K	—	10x	as long as short
Nado WTI-PERP	+0.0181%	1h	91.947	+0.018%	$881K	$788K	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0212% / S −0.0127%	1h	91.955	+0.027%	$76K	—	29x	as long as short
BloFin CL-USDT	+0.0240%	4h	91.910	−0.022%	$4.0M	$1.5M	50x	as long as short
RISEx CL/USDC	+0.0266%	1h	92.072	+0.155%	$3.2M	$2.7M	20x	as long as short