Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0372%/8h= −40.7% APRpaid last 24h −0.032%

Price spread now: GRVT against SoDEX−0.065%74s7-day average +0.025% · 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−$520.522% of the position

Long on SoDEX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.076%−$8 on $10k

Price spread, last 3 days (all we have)+0.145%+$15 · spread now −0.065%, 7d avg +0.025%

Together, before fees+0.070%+ Points / potential airdropGRVT: Active · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and GRVT is 0.090% cheaper against SoDEX than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.025%). Swap the legs. The two prices were read 74 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.076% in total (about -8.6% 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	SoDEX CL-USD	92.780	0.0050	pay 0.0006% / 1h	44m 04s	$2.1M	$61K	20x
Short	GRVT CL_USDT_Perp	92.720	−0.0322	pay 0.0161% / 4h	2h 44m	$50K	$632K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against SoDEX. 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 SoDEXbpFee GRVTbpOrdersPrice spread, now −0.065%Rate

Funding earned: −$78.12
Price spread: −0.065% → +0.025%: −$8.99
Slippage, 4 orders: −$35.24
Fee SoDEX: 4 bp × 2 orders: −$8
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$139.35
Costs to cover: 0.522%
Break-even: never at this rate

Slippage from SoDEX: live order book, 5 min ago; GRVT: live order book, 24 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 SoDEX live order book, 5 min ago	1.56 bp	20.3 bp −$20	85.9 bp −$859	doesn't fit	doesn't fit
Sell GRVT live order book, 24 min ago	0.54 bp	5.0 bp −$5	6.5 bp −$65	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	−0.0612%	1h	92.720	−0.065%	$198K	$366K	15x	as long as short
Aster CLUSD1	−0.0335%	4h	92.792	+0.013%	$24.0M	$74.8M	20x	as long as short
GRVT CL_USDT_Perpshort	−0.0322%	4h	92.720	−0.065%	$50K	$632K	25x
Binance CLUSDT	−0.0279%	4h	92.790	+0.011%	$244.6M	$1.00B	100x	as long as short
Variational Omni CL	−0.0272%	4h	92.751	−0.032%	$13.3M	$11.2M	—	as long as short
Gate CL_USDT	−0.0160%	8h	92.730	−0.054%	$20.9M	$52.9M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0079%	1h	92.740	−0.043%	$3.5M	$5.8M	20x	as long as short
tradeXYZ xyz:CL	−0.0062%	1h	92.775	−0.005%	$185.4M	$225.0M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.030	−0.808%	$399K	$942K	15x	as long as short
Nado WTI-PERP	−0.0047%	1h	92.837	+0.061%	$935K	$684K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.807	+0.029%	$275K	$883K	25x	as long as short
QFEX CL-USD	−0.0033%	1h	92.770	−0.011%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0013%	4h	92.790	+0.011%	$42.9M	$106.7M	50x	as long as short
Extended WTI-USD	−0.0008%	1h	92.810	+0.032%	$2.1M	$25.1M	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.832	+0.056%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.804	+0.026%	$26.4M	$83.5M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.780	0.000%	$42.0M	$46.3M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	+0.011%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.774	−0.006%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.317	−0.499%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0021%	8h	92.787	+0.008%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	92.789	+0.010%	$11.2M	$10.1M	20x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.919	+0.150%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.370	−0.442%	$726K	$3.0M	40x	as long as short
edgeX CLUSDC	+0.0041%	4h	92.772	−0.009%	$533K	$300K	30x	as long as short
Vest CL-PERP	+0.0046%	1h	92.790	+0.011%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.781	+0.001%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USDlong	+0.0050%	1h	92.780	long leg	$2.1M	$61K	20x
Aftermath Perps WTIUSD	+0.0062%	1h	92.776	−0.005%	$2K	$28K	5x	as long as short
KuCoin CLUSDTM	+0.0072%	4h	92.826	+0.050%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.791	+0.012%	$331K	$616K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.740	−0.043%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.740	−0.043%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.765	−0.016%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.93	+9.865%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0228%	4h	92.730	−0.054%	$4.0M	$1.2M	50x	as long as short