Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0119%/8h= −13.0% APRpaid last 24h −0.018%

Price spread now: OKX against SoDEX−0.024%7-day average +0.015% · 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−$54as in the Price arb table

costs, in and out, $10k−$500.504% of the position

Long on SoDEX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.087%−$9 on $10k

Price spread, last 4 days (all we have)+0.113%+$11 · spread now −0.024%, 7d avg +0.015%

Together, before fees+0.026%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and OKX is 0.038% cheaper against SoDEX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.015%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX CL-USD	93.162	0.0050	pay 0.0006% / 1h	36m 13s	$2.1M	$60K	20x
Short	OKX CL-USDT-SWAP	93.140	−0.0069	pay 0.0034% / 4h	36m 13s	$42.7M	$102.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$24.92
Price spread: −0.024% → +0.015%: −$3.83
Slippage, 4 orders: −$32.41
Fee SoDEX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$79.16
Costs to cover: 0.504%
Break-even: never at this rate

Slippage from SoDEX: 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 SoDEX live order book, 3 min ago	0.54 bp	19.9 bp −$20	84.8 bp −$848	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.54 bp	6.2 bp −$6	7.3 bp −$73	14.2 bp −$1,416	111.4 bp −$55.7K

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	−0.0394%	1h	93.150	−0.013%	$195K	$394K	15x	as long as short
Aster CLUSD1	−0.0288%	4h	93.201	+0.042%	$24.7M	$64.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0272%	4h	93.210	+0.052%	$75K	$636K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0210%	1h	93.169	+0.008%	$275K	$938K	25x	as long as short
Binance CLUSDT	−0.0161%	4h	93.167	+0.006%	$246.8M	$921.4M	100x	as long as short
Variational Omni CL	−0.0151%	4h	93.187	+0.027%	$13.4M	$10.6M	—	as long as short
Gate CL_USDT	−0.0128%	8h	93.100	−0.067%	$22.9M	$49.1M	100x	as long as short
Bitget CLUSDT	−0.0124%	4h	93.151	−0.012%	$42.2M	$41.6M	100x	as long as short
Aftermath Perps WTIUSD	−0.0112%	1h	93.237	+0.081%	$2K	$26K	5x	as long as short
edgeX CLUSDC	−0.0095%	4h	93.207	+0.048%	$524K	$305K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado WTI-PERP	−0.0091%	1h	93.219	+0.061%	$955K	$623K	10x	as long as short
OKX CL-USDT-SWAPshort	−0.0069%	4h	93.140	−0.024%	$42.7M	$102.7M	50x
QFEX CL-USD	−0.0038%	1h	93.170	+0.009%	$2.3M	$2.4M	10x	as long as short
tradeXYZ xyz:CL	−0.0030%	1h	93.153	−0.010%	$184.0M	$199.5M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0018%	1h	93.170	+0.009%	$3.6M	$5.3M	20x	as long as short
Lighter WTI	−0.0016%	1h	93.168	+0.006%	$11.2M	$9.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.406%	$405K	$810K	15x	as long as short
Paradex CL-USD-PERP	−0.0002%	8h	93.146	−0.017%	$16K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	93.162	0.000%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.162	0.000%	$26.7M	$79.1M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.200	+0.041%	$3.0M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.290	+0.137%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.156	−0.007%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.701	−0.495%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0016%	1h	93.190	+0.030%	$1.6M	$14.9M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.220	+0.062%	$739K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.170	+0.009%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.156	−0.006%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USDlong	+0.0050%	1h	93.162	long leg	$2.1M	$60K	20x
Pacifica CL	+0.0100%	1h	93.173	+0.012%	$348K	$593K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.205	+0.046%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.200	+0.041%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.132	−0.032%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0173%	4h	93.180	+0.019%	$4.0M	$983K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.45	+9.970%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0255% / S −0.0190%	1h	93.155	−0.008%	$83K	—	111x	as long as short