CL

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	PhemexXTIUSDT	100.91	0	0.0000% / 4h	1h 07m	$802K	$80K	100x	Long Phemex
SHORT	GMXWTIOIL/USD [ETH-USDC]	101.09	L −0.0241S +0.0399	pay 0.0050% / 1h	7m 41s	$129K	$136K	100x	Short GMX5% off

Price gap+0.183%

Funding gap−0.0399% /8h

The gap pays +$7 on $10k if it goes back to its 7d average, but funding costs $12 a day and eats that in about 14 hours. At the last 7 days' pace that is about 49 days.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding−$1−0.0399% /8h now · paid −0.010% over the last 7D

Price+$7spread +0.183% now, avg +0.115% → +0.068% if it goes back

Costsno datano order book for GMX

Result, before costs+$6+0.06%no pointscosts unknown: no order book for GMX · What the last 7D really paid, hour by hour → backtest

The current funding rate is far below what this pair has been paying: over the last 7 days it paid −0.010% in total, about −0.0005%/8h on average.

Price and funding

1h · history

Price spread

Prices

Fundingper 8h

PRICE SPREAD · 7D

Now+0.183%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

CL on 46 exchanges

lowest funding first

Before you open

1 ok · 3 to watch

Note: Order book unknown—
No order-book sample for GMX: its slippage is not counted.
Note: Margin at max leverage$100 + $100
Phemex 100x, GMX 100x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
Watch: Payment intervals differ4h / 1h
Payments land at different times. Close right after the slower leg pays.
Next 24h at the current rates, on $10k a leg: −$11.96Long Phemex: 6 payments, $0.00; short GMX: 24 payments, −$11.96.
OK: Entry gap works for you+0.183% vs +0.115%
You short the dearer leg. If the gap goes back to average, the short gains.
Watch: Short leg is thinner$129K vs $802K OI
GMX sets your exit cost. Check its book before closing.
Note: No points program—
Neither exchange runs points right now.
Watch: KYCPhemex Yes · GMX No
KYC unlocks spot and futures trading; an unverified account cannot withdraw at all.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned−0.0005%/8h × 21 periods−$0.97

Price spread+0.183% → +0.115% (7d avg)+$6.79

Slippage, 4 ordersno data for GMX—

Fee Phemex bp × 2 orders−$12.00

Fee GMX bp × 2 orders−$12.00

Net, fees only · 7 days · $10k−$18.17

Costs to cover0.240%Break-evennever at this rate

Slippage: Phemex: live order book, 8 min ago; GMX: no order-book sample

Cost to enter

taker + slippage from mid, one side

BUY · LONGPhemex0.5064.4 bp−$64162.1 bp−$1,621doesn’t fitdoesn’t fit

SELL · SHORTGMX—————

Closing costs about the same again.
GMX: no data.

CL news

posts that mention CL or Crude oil (WTI), from every exchangeSearch all news →

10-23 19:28	Markets by Kinetiq	Other	WTI Crude Oil is back above $100, up 6% this week. Houthi strikes on Saudi Arabia are escalating, ship attacks near Hormuz just hit a record month, and US crude stocks have fallen three weeks straight. @Markets_xyz on X ↗
10-23 10:17	SoDEX	Other	🛢️ $CL: Will Oil Keep Rising? 🔥 Middle East tensions are heating up! Where will oil prices head next? 👀 ✅ Vote below ✅ Share your $CL position ✅ Comment your prediction! 📊 POLL: Where will $CL be by Dec 31, 2026? @sodex_official on X ↗
10-22 15:08	BingX	Other	When commodities make headlines, depth matters 📊 Trade GOLD, WTI, BRENT, and SILVER perpetuals with deeper order books on #BingXTradFi. Up to 5.1x the depth vs No.2 (GOLD-USDT, 100 bps). See the breakdown 👇 @BingXOfficial on X ↗
10-20 08:13	ApeX Omni	Other	Oil cracked. WTI -4.7% is the biggest move on the tape. bitcoin:native $81,703 -1.3%, ethereum:native $2,395 -1.5%, while $NDAQ added 1.1%. $527M went into spot bitcoin ETFs, the best day since September, with IBIT alone taking $665M. Fear and greed 55. @OfficialApeXdex on X ↗
10-19 19:35	BingX	Other	Brent topped $110, WTI broke $100, and diesel hit records as Hormuz attacks escalate. Energy rallied while the Nasdaq fell 4.5%. Oil is back driving inflation and rate fears 🛢️ @BingXOfficial on X ↗
10-19 10:35	Phemex	Other	WTI just printed below $97 while Brent holds ~$108. Oil’s pullback after Friday’s spike is more technical + Russia supply hope than a clean demand collapse. For crypto traders, lower energy costs can ease inflation pressure — but geopolitics still keep the floor elevated. Execution quality matters more than the narrative when macro signals flip. @Phemex_official on X ↗

CL