Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0241%/8h= −26.4% APRpaid last 24h −0.018%

Price spread now: GRVT against Ondo Perps+0.011%53s7-day average +0.041% · you sell dearer than you buy

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

Long on Ondo Perps Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.298%−$30 on $10k

Price spread, last 4 days (all we have)+0.072%+$7 · spread now +0.011%, 7d avg +0.041%

Together, before fees−0.226%+ Points / potential airdropOndo Perps: Active · GRVT: Active · farm board−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and GRVT is 0.030% cheaper against Ondo Perps than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.041%). Swap the legs. The two prices were read 53 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	Ondo Perps WTI-USD.P	93.200	−0.0031	get 0.0004% / 1h	38m 32s	$3.6M	$5.3M	20x
Short	GRVT CL_USDT_Perp	93.210	−0.0272	pay 0.0136% / 4h	38m 32s	$75K	$636K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Ondo Perps. 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 Ondo PerpsbpFee GRVTbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$50.57
Price spread: +0.011% → +0.041%: −$3
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$67.57
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; GRVT: live order book, 64 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell GRVT live order book, 64 min ago	1.07 bp	5.6 bp −$6	8.1 bp −$81	doesn't fit	doesn't fit

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 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	93.200	0.000%	$195K	$393K	15x	as long as short
Aster CLUSD1	−0.0287%	4h	93.236	+0.039%	$24.7M	$64.3M	20x	as long as short
GRVT CL_USDT_Perpshort	−0.0272%	4h	93.210	+0.011%	$75K	$636K	25x
Kraken Futures PF_WTIOILUSD	−0.0209%	1h	93.249	+0.052%	$275K	$938K	25x	as long as short
Binance CLUSDT	−0.0163%	4h	93.201	+0.001%	$246.9M	$919.3M	100x	as long as short
Variational Omni CL	−0.0151%	4h	93.187	−0.014%	$13.4M	$10.6M	—	as long as short
Gate CL_USDT	−0.0130%	8h	93.160	−0.043%	$22.9M	$49.0M	100x	as long as short
Bitget CLUSDT	−0.0124%	4h	93.195	−0.005%	$42.2M	$41.6M	100x	as long as short
Aftermath Perps WTIUSD	−0.0112%	1h	93.275	+0.081%	$2K	$26K	5x	as long as short
Nado WTI-PERP	−0.0090%	1h	93.258	+0.062%	$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-SWAP	−0.0066%	4h	93.180	−0.021%	$42.7M	$102.7M	50x	as long as short
QFEX CL-USD	−0.0038%	1h	93.210	+0.011%	$2.3M	$2.4M	10x	as long as short
Ondo Perps WTI-USD.Plong	−0.0031%	1h	93.200	long leg	$3.6M	$5.3M	20x
tradeXYZ xyz:CL	−0.0030%	1h	93.228	+0.030%	$184.1M	$199.4M	20x	as long as short
Lighter WTI	−0.0024%	1h	93.212	+0.013%	$11.2M	$9.1M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.365%	$405K	$810K	15x	as long as short
Paradex CL-USD-PERP	−0.0003%	8h	93.195	−0.006%	$16K	$367	5x	as long as short
edgeX CLUSDC	−0.0001%	4h	93.217	+0.018%	$524K	$304K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	93.266	+0.071%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.200	0.000%	$26.7M	$79.1M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.252	+0.055%	$3.0M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.410	+0.225%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.236	+0.039%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.809	−0.420%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0016%	1h	93.260	+0.064%	$1.6M	$15.0M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.290	+0.097%	$739K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.210	+0.011%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.192	−0.009%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.241	+0.044%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.227	+0.029%	$348K	$593K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.270	+0.075%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.200	0.000%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.218	+0.019%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0176%	4h	93.210	+0.011%	$4.0M	$983K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.83	+10.335%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0254% / S −0.0190%	1h	93.245	+0.048%	$84K	—	111x	as long as short