Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0065%/8h= −7.1% APRpaid last 24h +0.039%

Price spread now: GMX against Paradex+0.112%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. GMX is 0.112% dearer against Paradex than usual: you sell high and buy low (spread +0.112% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CL-USD-PERP	89.305	0.0010	pay 0.0010% / 8h	5h 54m	$15K	$367	5x
Short	GMX WTIOIL/USD [ETH-USDC]	89.405	L +0.0166% / S +0.0055%	pay 0.0007% / 1h	54m 51s	$73K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Paradex. 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 ParadexbpFee GMXbpOrdersPrice spread, now +0.112%Rate

Funding earned: −$13.64
Price spread: +0.112% → 0.000%: $11.24
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee GMX: 6 bp × 2 orders: −$12
Net: −$18.4
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; GMX: 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 Paradex no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Paradex and GMX: 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 exchanges

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
Kraken Futures PF_WTIOILUSD	−0.0342%	1h	89.375	+0.079%	$318K	$1.8M	25x	as long as short
Aster CLUSD1	−0.0148%	4h	89.450	+0.163%	$24.4M	$71.0M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0129%	1h	89.270	−0.039%	$3.4M	$6.1M	20x	as long as short
Bitget CLUSDT	−0.0120%	4h	89.409	+0.117%	$40.6M	$55.9M	100x	as long as short
tradeXYZ xyz:CL	−0.0119%	1h	89.416	+0.125%	$169.8M	$245.8M	20x	as long as short
GRVT CL_USDT_Perp	−0.0108%	4h	89.526	+0.248%	$73K	$632K	25x	as long as short
Binance CLUSDT	−0.0102%	4h	89.410	+0.118%	$238.8M	$1.20B	100x	as long as short
Extended WTI-USD	−0.0088%	1h	89.450	+0.163%	$1.2M	$14.7M	10x	as long as short
edgeX CLUSDC	−0.0080%	4h	89.515	+0.236%	$495K	$383K	30x	as long as short
Variational Omni CL	−0.0080%	4h	89.432	+0.143%	$12.6M	$11.3M	—	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0071%	8h	89.370	+0.073%	$22.9M	$53.1M	100x	as long as short
Aftermath Perps WTIUSD	−0.0048%	1h	89.779	+0.532%	$1K	$27K	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	89.640	+0.376%	$409K	$1.5M	15x	as long as short
Nado WTI-PERP	−0.0039%	1h	89.380	+0.084%	$869K	$682K	10x	as long as short
OKX CL-USDT-SWAP	−0.0034%	4h	89.400	+0.107%	$39.9M	$130.0M	50x	as long as short
Lighter WTI	−0.0032%	1h	89.413	+0.121%	$10.6M	$10.1M	20x	as long as short
QFEX CL-USD	−0.0025%	1h	89.310	+0.006%	$2.2M	$2.8M	10x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	89.147	−0.177%	$606	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	89.333	+0.032%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	89.411	+0.119%	$26.7M	$108.3M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	89.532	+0.254%	$2.8M	$3.1M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	89.354	+0.055%	$17K	$238K	10x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	0.0000%	1h	89.420	+0.129%	$69K	$628K	15x	as long as short
Paradex CL-USD-PERPlong	+0.0010%	8h	89.305	long leg	$15K	$367	5x
StandX CL-USD	+0.0040%	1h	89.510	+0.230%	$691K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	89.370	+0.073%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	89.309	+0.005%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	89.428	+0.138%	$2.0M	$82K	20x	as long as short
Phoenix WTIOIL	+0.0053%	1h	89.500	+0.219%	$32K	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	89.351	+0.052%	$299K	$729K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	89.451	+0.164%	$6.9M	$3.0M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	89.600	+0.331%	$52K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	89.380	+0.084%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]short	L +0.0166% / S +0.0055%	1h	89.405	+0.112%	$73K	—	111x
BloFin CL-USDT	+0.0210%	4h	89.380	+0.084%	$3.9M	$1.1M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	90.137	+0.932%	$16K	$5K	30x	as long as short