Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.016%

Price spread now: OKX against RISEx−0.156%46s7-day average −0.037% · 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−$180.182% of the position

Long on RISEx Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.152%−$15 on $10k

Price spread, last 7 days+0.089%+$9 · spread now −0.156%, 7d avg −0.037%

Together, before fees−0.063%−$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.119% cheaper against RISEx than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.037%. The two prices were read 46 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	92.264	0	get 0.0000% / 1h	50m 51s	$3.3M	$2.7M	20x
Short	OKX CL-USDT-SWAP	92.120	0	get 0.0000% / 4h	3h 50m	$42.8M	$111.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.156%Rate

Funding earned: $0
Price spread: −0.156% → −0.037%: −$11.91
Slippage, 4 orders: −$2.17
Fee RISEx: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$30.08
Costs to cover: 0.182%
Break-even: never at this rate

Slippage from RISEx: live order book, 3 min ago; OKX: live order book, 3 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, 3 min ago	0.05 bp	3.1 bp −$3	3.7 bp −$37	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.54 bp	5.5 bp −$6	6.6 bp −$66	13.3 bp −$1,333	85.6 bp −$42.8K

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
GRVT CL_USDT_Perp	−0.0536%	4h	92.166	−0.106%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0315%	4h	92.160	−0.113%	$23.8M	$79.4M	20x	as long as short
Gate CL_USDT	−0.0268%	8h	92.070	−0.210%	$21.3M	$54.3M	100x	as long as short
Binance CLUSDT	−0.0245%	4h	92.150	−0.123%	$245.1M	$1.09B	100x	as long as short
Variational Omni CL	−0.0236%	4h	92.101	−0.177%	$13.2M	$12.7M	—	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0184%	1h	92.150	−0.123%	$96K	$189K	15x	as long as short
Bybit CLUSDT	−0.0157%	8h	92.150	−0.123%	$26.0M	$93.8M	150x	as long as short
Nado WTI-PERP	−0.0127%	1h	92.201	−0.068%	$923K	$732K	10x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.161	−0.111%	$273K	$1.2M	25x	as long as short
Ondo Perps WTI-USD.P	−0.0091%	1h	92.180	−0.091%	$3.5M	$6.2M	20x	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	−0.0063%	1h	92.163	−0.109%	$186.1M	$261.6M	20x	as long as short
Lighter WTI	−0.0040%	1h	92.133	−0.142%	$11.2M	$9.9M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.253%	$399K	$960K	15x	as long as short
QFEX CL-USD	−0.0040%	1h	92.150	−0.123%	$2.4M	$2.2M	10x	as long as short
Paradex CL-USD-PERP	−0.0033%	8h	92.136	−0.138%	$15K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	92.235	−0.031%	$8K	$3K	5x	as long as short
OKX CL-USDT-SWAPshort	0.0000%	4h	92.120	−0.156%	$42.8M	$111.2M	50x
RISEx CL/USDClong	0.0000%	1h	92.264	long leg	$3.3M	$2.7M	20x
Bitget CLUSDT	0.0000%	4h	92.151	−0.122%	$41.9M	$51.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.260	−0.004%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.118	−0.158%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.707	−0.604%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	92.200	−0.069%	$2.0M	$26.7M	10x	as long as short
edgeX CLUSDC	+0.0036%	4h	92.162	−0.110%	$530K	$306K	30x	as long as short
StandX CL-USD	+0.0040%	1h	92.190	−0.080%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.200	−0.069%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.151	−0.122%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.125	−0.151%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.146	−0.127%	$353K	$596K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.168	−0.104%	$7.2M	$2.3M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.240	−0.026%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.143	−0.132%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.125	−0.151%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.38	+9.883%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.100	−0.178%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0435%	1h	92.171	−0.101%	$2K	$29K	5x	as long as short