Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0019%/8h= −2.1% APRpaid last 24h −0.006%

Price spread now: QFEX against OKX−0.032%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$280.281% of the position

Long on OKX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.006%−$1 on $10k

Price spread, last 7 days+0.005%+$1 · spread now −0.032%, 7d avg −0.026%

Together, before fees−0.001%$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.026%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CL-USDT-SWAP	92.760	−0.0015	get 0.0007% / 4h	2h 47m	$43.0M	$106.8M	50x
Short	QFEX CL-USD	92.730	−0.0033	pay 0.0004% / 1h	47m 30s	$2.5M	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.032%Rate

Funding earned: −$3.95
Price spread: −0.032% → −0.026%: −$0.61
Slippage, 4 orders: −$8.07
Fee OKX: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$32.62
Costs to cover: 0.281%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; QFEX: live order book, 10 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	6.7 bp −$67	13.6 bp −$1,364	doesn't fit
Sell QFEX live order book, 10 min ago	2.15 bp	8.8 bp −$9	9.3 bp −$93	11.3 bp −$1,126	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	−0.0612%	1h	92.760	0.000%	$198K	$366K	15x	as long as short
Aster CLUSD1	−0.0339%	4h	92.760	0.000%	$23.9M	$74.7M	20x	as long as short
GRVT CL_USDT_Perp	−0.0322%	4h	92.720	−0.043%	$50K	$632K	25x	as long as short
Binance CLUSDT	−0.0282%	4h	92.740	−0.022%	$244.6M	$1.00B	100x	as long as short
Variational Omni CL	−0.0275%	4h	92.851	+0.098%	$13.3M	$11.3M	—	as long as short
Gate CL_USDT	−0.0172%	8h	92.680	−0.086%	$20.9M	$52.8M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0092%	1h	92.740	−0.022%	$3.5M	$5.8M	20x	as long as short
tradeXYZ xyz:CL	−0.0061%	1h	92.733	−0.029%	$185.3M	$224.9M	20x	as long as short
Nado WTI-PERP	−0.0051%	1h	92.822	+0.067%	$936K	$686K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.030	−0.787%	$399K	$942K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.830	+0.075%	$275K	$883K	25x	as long as short
QFEX CL-USDshort	−0.0033%	1h	92.730	−0.032%	$2.5M	$1.7M	10x
Extended WTI-USD	−0.0016%	1h	92.790	+0.032%	$2.1M	$25.2M	10x	as long as short
OKX CL-USDT-SWAPlong	−0.0015%	4h	92.760	long leg	$43.0M	$106.8M	50x
dYdX WTI-USD	0.0000%	1h	92.832	+0.077%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.744	−0.017%	$26.3M	$84.2M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.725	−0.038%	$42.1M	$46.5M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.890	+0.140%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.733	−0.029%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.299	−0.497%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0019%	8h	92.745	−0.016%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	92.781	+0.023%	$11.2M	$10.1M	20x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.866	+0.114%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.330	−0.464%	$726K	$3.0M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.780	+0.022%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.749	−0.012%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.794	+0.037%	$2.1M	$61K	20x	as long as short
KuCoin CLUSDTM	+0.0070%	4h	92.792	+0.034%	$7.2M	$2.3M	50x	as long as short
Aftermath Perps WTIUSD	+0.0072%	1h	92.780	+0.022%	$2K	$28K	5x	as long as short
edgeX CLUSDC	+0.0075%	4h	92.751	−0.010%	$533K	$299K	30x	as long as short
Pacifica CL	+0.0100%	1h	92.798	+0.041%	$331K	$616K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.760	0.000%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.757	−0.003%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.735	−0.027%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.93	+9.889%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0228%	4h	92.730	−0.032%	$4.0M	$1.2M	50x	as long as short