Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0059%/8h= +6.5% APRpaid last 24h +0.005%

Price spread now: OKX against Ondo Perps+0.107%7-day average +0.070% · you sell dearer than you buy

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

Long on Ondo Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.180%−$18 on $10k

Price spread, last 7 days+0.173%+$17 · spread now +0.107%, 7d avg +0.070%

Together, before fees−0.006%+ Points / potential airdropOndo Perps: Active · farm board−$1 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 OKX is 0.037% dearer against Ondo Perps than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.070%. Mind the row above: over the last 7 days funding on this pair cost −0.180%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps WTI-USD.P	93.260	−0.0122	get 0.0015% / 1h	30m 26s	$3.5M	$5.4M	20x
Short	OKX CL-USDT-SWAP	93.360	−0.0063	pay 0.0032% / 4h	2h 30m	$42.6M	$102.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.107%Rate

Funding earned: $12.43
Price spread: +0.107% → +0.070%: $3.72
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: $1.15
Costs to cover: 0.150%
Break-even: 6.4 days

Slippage unknown: Ondo Perps: no order-book sample; OKX: live order book, 3 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 OKX live order book, 3 min ago	0.54 bp	5.5 bp −$6	6.2 bp −$62	12.3 bp −$1,234	128.2 bp −$64.1K

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	−0.0607%	1h	93.310	+0.054%	$197K	$373K	15x	as long as short
GRVT CL_USDT_Perp	−0.0330%	4h	93.298	+0.040%	$58K	$639K	25x	as long as short
Aster CLUSD1	−0.0305%	4h	93.370	+0.118%	$24.4M	$65.2M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.350	+0.097%	$284K	$962K	25x	as long as short
Binance CLUSDT	−0.0193%	4h	93.348	+0.094%	$246.3M	$930.6M	100x	as long as short
Variational Omni CL	−0.0184%	4h	93.331	+0.076%	$13.3M	$10.8M	—	as long as short
Aftermath Perps WTIUSD	−0.0150%	1h	93.333	+0.079%	$2K	$26K	5x	as long as short
Nado WTI-PERP	−0.0134%	1h	93.404	+0.154%	$966K	$617K	10x	as long as short
Bitget CLUSDT	−0.0134%	4h	93.348	+0.094%	$42.1M	$42.8M	100x	as long as short
Ondo Perps WTI-USD.Plong	−0.0122%	1h	93.260	long leg	$3.5M	$5.4M	20x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0078%	4h	93.321	+0.065%	$525K	$306K	30x	as long as short
Gate CL_USDT	−0.0075%	8h	93.280	+0.021%	$21.8M	$49.6M	100x	as long as short
tradeXYZ xyz:CL	−0.0069%	1h	93.350	+0.097%	$184.5M	$214.4M	20x	as long as short
OKX CL-USDT-SWAPshort	−0.0063%	4h	93.360	+0.107%	$42.6M	$102.5M	50x
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	−0.107%	$403K	$929K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.370	+0.118%	$2.3M	$2.3M	10x	as long as short
Lighter WTI	0.0000%	1h	93.351	+0.098%	$11.2M	$9.9M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.410	+0.161%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.380	+0.129%	$27.1M	$79.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.404	+0.154%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.380	+0.129%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.346	+0.092%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.901	−0.385%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0002%	8h	93.335	+0.080%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.385	+0.134%	$2.0M	$17.4M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.330	+0.075%	$738K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.350	+0.097%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.364	+0.111%	$332K	$576K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.342	+0.088%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.345	+0.091%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0054%	4h	93.370	+0.118%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.400	+0.150%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.310	+0.053%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0175%	4h	93.350	+0.097%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.60	+10.018%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0236% / S −0.0168%	1h	93.345	+0.091%	$84K	—	111x	as long as short