Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0230%/8h= −25.2% APRpaid last 24h −0.017%

Price spread now: GRVT against Phoenix−0.075%7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.287%−$29 on $10k

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

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

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and GRVT is 0.075% cheaper against Phoenix than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix WTIOIL	92.790	0	get 0.0000% / 1h	34m 29s	$37K	$42K	20x
Short	GRVT CL_USDT_Perp	92.720	−0.0230	pay 0.0115% / 4h	1h 34m	$61K	$633K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Phoenix. 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 PhoenixbpFee GRVTbpOrdersPrice spread, now −0.075%Rate

Funding earned: −$48.3
Price spread: −0.075% → 0.000%: −$7.54
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$71.84
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; GRVT: live order book, 28 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 Phoenix no order-book sample	—	—	—	—	—
Sell GRVT live order book, 28 min ago	0.54 bp	6.0 bp −$6	8.6 bp −$86	doesn't fit	doesn't fit

Phoenix: 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	−0.0612%	1h	92.710	−0.086%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0249%	4h	92.760	−0.032%	$23.9M	$68.8M	20x	as long as short
GRVT CL_USDT_Perpshort	−0.0230%	4h	92.720	−0.075%	$61K	$633K	25x
Binance CLUSDT	−0.0210%	4h	92.741	−0.053%	$244.6M	$955.8M	100x	as long as short
Variational Omni CL	−0.0204%	4h	92.697	−0.100%	$13.5M	$11.1M	—	as long as short
Ondo Perps WTI-USD.P	−0.0171%	1h	92.690	−0.108%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0148%	1h	92.817	+0.029%	$960K	$664K	10x	as long as short
Gate CL_USDT	−0.0091%	8h	92.680	−0.119%	$20.9M	$52.5M	100x	as long as short
tradeXYZ xyz:CL	−0.0071%	1h	92.771	−0.020%	$184.4M	$218.2M	20x	as long as short
edgeX CLUSDC	−0.0056%	4h	92.750	−0.043%	$528K	$302K	30x	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	−0.0043%	4h	92.730	−0.065%	$42.7M	$101.9M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.043%	$402K	$944K	15x	as long as short
Aftermath Perps WTIUSD	−0.0037%	1h	92.760	−0.032%	$2K	$27K	5x	as long as short
QFEX CL-USD	−0.0032%	1h	92.770	−0.022%	$2.5M	$1.7M	10x	as long as short
Lighter WTI	0.0000%	1h	92.756	−0.037%	$11.2M	$10.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.761	−0.031%	$8K	$3K	5x	as long as short
Extended WTI-USD	0.0000%	1h	92.800	+0.011%	$2.1M	$22.9M	10x	as long as short
Bybit CLUSDT	0.0000%	8h	92.750	−0.043%	$26.4M	$81.3M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.742	−0.052%	$41.9M	$43.3M	100x	as long as short
Phoenix WTIOILlong	0.0000%	1h	92.790	long leg	$37K	$42K	20x
Bullet WTIOIL-USD	0.0000%	1h	92.756	−0.036%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.325	−0.501%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0019%	8h	92.738	−0.056%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	92.490	−0.323%	$727K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.780	−0.011%	—	$310K	10x	as long as short
KuCoin CLUSDTM	+0.0048%	4h	92.764	−0.028%	$7.3M	$2.3M	50x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.756	−0.037%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.745	−0.048%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	92.861	+0.077%	$3.3M	$2.7M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.745	−0.049%	$331K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.670	−0.129%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.708	−0.089%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.751	−0.042%	$273K	$872K	25x	as long as short
BloFin CL-USDT	+0.0204%	4h	92.740	−0.054%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.755	−0.038%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.95	+9.876%	$19K	$11K	30x	as long as short