Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0246%/8h= −26.9% APRpaid last 24h −0.046%

Price spread now: GRVT against RISEx−0.101%55s7-day average −0.050% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.220% of the position

Long on RISEx Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.157%−$16 on $10k

Price spread, last 4 days (all we have)+0.097%+$10 · spread now −0.101%, 7d avg −0.050%

Together, before fees−0.061%+ Points / potential airdropGRVT: Active · farm board−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and GRVT is 0.051% cheaper against RISEx than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.050%). Swap the legs. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx CL/USDC	93.014	0	get 0.0000% / 1h	18m 20s	$3.0M	$2.9M	20x
Short	GRVT CL_USDT_Perp	92.920	−0.0246	pay 0.0123% / 4h	18m 20s	$77K	$622K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against RISEx. 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 RISExbpFee GRVTbpOrdersPrice spread, now −0.101%Rate

Funding earned: −$51.66
Price spread: −0.101% → −0.050%: −$5.07
Slippage, 4 orders: −$6.96
Fee RISEx: 3 bp × 2 orders: −$6
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$78.69
Costs to cover: 0.220%
Break-even: never at this rate

Slippage from RISEx: live order book, 1 min ago; GRVT: live order book, 20 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 RISEx live order book, 1 min ago	0.91 bp	3.9 bp −$4	5.7 bp −$57	doesn't fit	doesn't fit
Sell GRVT live order book, 20 min ago	0.54 bp	6.1 bp −$6	9.5 bp −$95	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	−0.0503%	1h	92.900	−0.123%	$194K	$396K	15x	as long as short
Aster CLUSD1	−0.0278%	4h	92.983	−0.033%	$24.7M	$63.4M	20x	as long as short
GRVT CL_USDT_Perpshort	−0.0246%	4h	92.920	−0.101%	$77K	$622K	25x
Kraken Futures PF_WTIOILUSD	−0.0210%	1h	92.962	−0.056%	$275K	$930K	25x	as long as short
Binance CLUSDT	−0.0156%	4h	92.960	−0.058%	$246.8M	$922.8M	100x	as long as short
Variational Omni CL	−0.0144%	4h	92.909	−0.113%	$13.5M	$10.7M	—	as long as short
Gate CL_USDT	−0.0135%	8h	92.900	−0.123%	$23.0M	$50.1M	100x	as long as short
Bitget CLUSDT	−0.0120%	4h	92.922	−0.099%	$42.2M	$41.6M	100x	as long as short
Nado WTI-PERP	−0.0110%	1h	93.024	+0.010%	$954K	$618K	10x	as long as short
Aftermath Perps WTIUSD	−0.0097%	1h	92.977	−0.040%	$2K	$26K	5x	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	−0.0081%	4h	92.920	−0.101%	$42.7M	$102.8M	50x	as long as short
edgeX CLUSDC	−0.0057%	4h	92.965	−0.052%	$523K	$305K	30x	as long as short
QFEX CL-USD	−0.0038%	1h	92.990	−0.026%	$2.3M	$2.4M	10x	as long as short
tradeXYZ xyz:CL	−0.0020%	1h	92.964	−0.054%	$184.1M	$198.0M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0017%	1h	92.940	−0.080%	$3.6M	$5.3M	20x	as long as short
Lighter WTI	−0.0016%	1h	92.977	−0.040%	$11.2M	$9.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.566%	$405K	$810K	15x	as long as short
dYdX WTI-USD	0.0000%	1h	92.986	−0.030%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.944	−0.075%	$26.7M	$79.4M	150x	as long as short
RISEx CL/USDClong	0.0000%	1h	93.014	long leg	$3.0M	$2.9M	20x
Phoenix WTIOIL	0.0000%	1h	92.990	−0.026%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.958	−0.061%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.505	−0.547%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0002%	8h	92.968	−0.049%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	92.950	−0.069%	$1.7M	$15.2M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.990	−0.026%	$737K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.970	−0.047%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.967	−0.050%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.922	−0.099%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.996	−0.019%	$347K	$591K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.001	−0.014%	$7.0M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.940	−0.080%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.905	−0.118%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0158%	4h	92.920	−0.101%	$4.1M	$982K	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0164% / S −0.0012%	1h	92.955	−0.063%	$80K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.45	+10.145%	$19K	$11K	30x	as long as short