Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0308%/8h= −33.7% APRpaid last 24h −0.022%

Price spread now: GRVT against QFEX+0.007%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$310.306% of the position

Long on QFEX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now +0.007%, 7d avg +0.014%

Together, before fees+0.012%+ Points / potential airdropGRVT: Active · farm board+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.003% in total (about 0.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CL-USD	93.310	−0.0032	get 0.0004% / 1h	53m 19s	$2.3M	$2.1M	10x
Short	GRVT CL_USDT_Perp	93.316	−0.0340	pay 0.0170% / 4h	2h 53m	$58K	$649K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against QFEX. 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 QFEXbpFee GRVTbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$64.61
Price spread: +0.007% → +0.014%: −$0.71
Slippage, 4 orders: −$11.56
Fee QFEX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$95.88
Costs to cover: 0.306%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; GRVT: live order book, 60 min ago.

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 QFEX live order book, 4 min ago	3.21 bp	8.2 bp −$8	8.2 bp −$82	10.4 bp −$1,035	doesn't fit
Sell GRVT live order book, 60 min ago	1.08 bp	5.6 bp −$6	7.4 bp −$74	doesn't fit	doesn't fit

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	−0.0821%	1h	93.290	−0.021%	$197K	$372K	15x	as long as short
GRVT CL_USDT_Perpshort	−0.0340%	4h	93.316	+0.007%	$58K	$649K	25x
Aster CLUSD1	−0.0292%	4h	93.366	+0.060%	$24.3M	$66.5M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.342	+0.034%	$282K	$961K	25x	as long as short
Binance CLUSDT	−0.0196%	4h	93.341	+0.033%	$246.4M	$937.0M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0182%	1h	93.260	−0.054%	$3.5M	$5.3M	20x	as long as short
Variational Omni CL	−0.0180%	4h	93.309	−0.001%	$13.3M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0135%	1h	93.334	+0.026%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0134%	4h	93.343	+0.035%	$42.1M	$43.1M	100x	as long as short
Nado WTI-PERP	−0.0123%	1h	93.378	+0.073%	$967K	$622K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0083%	1h	93.346	+0.039%	$184.6M	$215.4M	20x	as long as short
edgeX CLUSDC	−0.0077%	4h	93.325	+0.016%	$525K	$305K	30x	as long as short
Gate CL_USDT	−0.0074%	8h	93.290	−0.021%	$21.5M	$49.1M	100x	as long as short
OKX CL-USDT-SWAP	−0.0068%	4h	93.320	+0.011%	$42.6M	$102.6M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	−0.161%	$403K	$929K	15x	as long as short
QFEX CL-USDlong	−0.0032%	1h	93.310	long leg	$2.3M	$2.1M	10x
Lighter WTI	−0.0024%	1h	93.338	+0.030%	$11.2M	$9.8M	20x	as long as short
Paradex CL-USD-PERP	−0.0013%	8h	93.305	−0.005%	$16K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	93.329	+0.021%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.359	+0.053%	$27.0M	$79.9M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.373	+0.067%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.370	+0.064%	$37K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.337	+0.029%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.907	−0.432%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0024%	1h	93.390	+0.086%	$2.0M	$18.1M	10x	as long as short
KuCoin CLUSDTM	+0.0030%	4h	93.337	+0.029%	$7.1M	$2.4M	50x	as long as short
StandX CL-USD	+0.0040%	1h	93.280	−0.032%	$738K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.340	+0.032%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.318	+0.009%	$331K	$576K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.329	+0.020%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.331	+0.023%	$2.1M	$60K	20x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.290	−0.021%	$54K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.304	−0.007%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0173%	4h	93.300	−0.011%	$4.0M	$985K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.57	+9.926%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0229% / S −0.0159%	1h	93.335	+0.027%	$82K	—	111x	as long as short