Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0111%/8h= +12.2% APRpaid last 24h +0.018%

Price spread now: SoDEX against OKX−0.070%46s7-day average −0.013% · 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—prices read too far apart to compare

costs, in and out, $10k−$500.496% of the position

Long on OKX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.087%+$9 on $10k

Price spread, last 4 days (all we have)−0.031%−$3 · spread now −0.070%, 7d avg −0.013%

Together, before fees+0.056%+$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. SoDEX is 0.056% cheaper against OKX than usual: you would sell low and buy high (spread −0.070% now, against its 7-day average of −0.013%). If the spread goes back, that is −$6 on $10k: about 40 hours of funding at the current rate (+$3 a day). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CL-USDT-SWAP	93.480	−0.0061	get 0.0030% / 4h	1h 00m	$42.9M	$102.3M	50x
Short	SoDEX CL-USD	93.415	0.0050	get 0.0006% / 1h	0m 31s	$2.1M	$60K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.070%Rate

Funding earned: $23.31
Price spread: −0.070% → −0.013%: −$5.62
Slippage, 4 orders: −$31.6
Fee OKX: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$31.91
Costs to cover: 0.496%
Break-even: 16.6 days

Slippage from OKX: live order book, 3 min ago; SoDEX: 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, 3 min ago	0.54 bp	5.5 bp −$6	6.7 bp −$67	13.2 bp −$1,322	doesn't fit
Sell SoDEX live order book, 3 min ago	0.54 bp	18.8 bp −$19	96.9 bp −$969	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	−0.0499%	1h	93.380	−0.107%	$195K	$387K	15x	as long as short
GRVT CL_USDT_Perp	−0.0306%	4h	93.372	−0.115%	$53K	$607K	25x	as long as short
Aster CLUSD1	−0.0298%	4h	93.522	+0.045%	$24.7M	$65.2M	20x	as long as short
Binance CLUSDT	−0.0170%	4h	93.498	+0.019%	$247.8M	$919.3M	100x	as long as short
Variational Omni CL	−0.0159%	4h	93.419	−0.066%	$13.4M	$10.7M	—	as long as short
Kraken Futures PF_WTIOILUSD	−0.0137%	1h	93.421	−0.063%	$276K	$969K	25x	as long as short
Ondo Perps WTI-USD.P	−0.0136%	1h	93.380	−0.107%	$3.5M	$5.3M	20x	as long as short
Aftermath Perps WTIUSD	−0.0134%	1h	93.468	−0.013%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0128%	4h	93.523	+0.046%	$42.4M	$42.1M	100x	as long as short
Gate CL_USDT	−0.0125%	8h	93.420	−0.064%	$22.7M	$50.8M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0091%	4h	93.408	−0.077%	$525K	$305K	30x	as long as short
Nado WTI-PERP	−0.0083%	1h	93.543	+0.067%	$962K	$631K	10x	as long as short
tradeXYZ xyz:CL	−0.0082%	1h	93.555	+0.080%	$184.9M	$204.1M	20x	as long as short
OKX CL-USDT-SWAPlong	−0.0061%	4h	93.480	long leg	$42.9M	$102.3M	50x
QFEX CL-USD	−0.0023%	1h	93.460	−0.021%	$2.3M	$2.4M	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0008%	1h	93.540	+0.064%	$405K	$917K	15x	as long as short
Lighter WTI	0.0000%	1h	93.490	+0.011%	$11.3M	$9.7M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.521	+0.044%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.503	+0.025%	$26.8M	$79.2M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.522	+0.045%	$3.0M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.440	−0.043%	$37K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.546	+0.071%	$19K	$240K	10x	as long as short
Paradex CL-USD-PERP	0.0000%	8h	93.468	−0.013%	$16K	$367	5x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.961	−0.555%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	93.550	+0.075%	$2.0M	$14.7M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.470	−0.011%	$741K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.500	+0.021%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.505	+0.027%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USDshort	+0.0050%	1h	93.415	−0.070%	$2.1M	$60K	20x
Pacifica CL	+0.0100%	1h	93.490	+0.011%	$332K	$572K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.509	+0.031%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.460	−0.021%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.378	−0.109%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0179%	4h	93.400	−0.086%	$4.1M	$969K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.82	+9.990%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0250% / S −0.0185%	1h	93.405	−0.080%	$84K	—	111x	as long as short