Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0036%/8h= −4.0% APRpaid last 24h −0.028%

Price spread now: GRVT against tradeXYZ−0.186%86s7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

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

costs, in and out, $10k−$320.317% of the position

Long on tradeXYZ Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.185%−$19 on $10k

Price spread, last 4 days (all we have)+0.181%+$18 · spread now −0.186%, 7d avg +0.007%

Together, before fees−0.004%+ Points / potential airdroptradeXYZ: Active · GRVT: Active · farm board$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and GRVT is 0.193% cheaper against tradeXYZ than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.007%). Swap the legs. The two prices were read 86 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	tradeXYZ xyz:CL	89.596	−0.0070	get 0.0009% / 1h	45m 59s	$167.5M	$244.9M	20x
Short	GRVT CL_USDT_Perp	89.429	−0.0106	pay 0.0053% / 4h	1h 45m	$66K	$632K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against tradeXYZ. 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 tradeXYZbpFee GRVTbpOrdersPrice spread, now −0.186%Rate

Funding earned: −$7.62
Price spread: −0.186% → +0.007%: −$19.25
Slippage, 4 orders: −$4.69
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$58.56
Costs to cover: 0.317%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 7 min ago; GRVT: live order book, 64 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 tradeXYZ live order book, 7 min ago	0.22 bp	9.2 bp −$9	9.2 bp −$92	10.3 bp −$1,025	doesn't fit
Sell GRVT live order book, 64 min ago	1.10 bp	5.6 bp −$6	7.2 bp −$72	doesn't fit	doesn't fit

CL on 36 exchanges

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
Kraken Futures PF_WTIOILUSD	−0.0342%	1h	89.486	−0.122%	$319K	$1.8M	25x	as long as short
Aster CLUSD1	−0.0130%	4h	89.728	+0.147%	$24.4M	$71.9M	20x	as long as short
Bitget CLUSDT	−0.0110%	4h	89.651	+0.061%	$40.8M	$57.2M	100x	as long as short
GRVT CL_USDT_Perpshort	−0.0106%	4h	89.429	−0.186%	$66K	$632K	25x
Deribit WTIOIL_USDC-PERPETUAL	−0.0085%	1h	89.510	−0.096%	$39K	$655K	15x	as long as short
Binance CLUSDT	−0.0082%	4h	89.698	+0.114%	$241.5M	$1.21B	100x	as long as short
tradeXYZ xyz:CLlong	−0.0070%	1h	89.596	long leg	$167.5M	$244.9M	20x
Ondo Perps WTI-USD.P	−0.0068%	1h	89.370	−0.252%	$3.4M	$6.3M	20x	as long as short
Variational Omni CL	−0.0066%	4h	89.342	−0.283%	$12.6M	$11.3M	—	as long as short
Aftermath Perps WTIUSD	−0.0064%	1h	89.439	−0.175%	$1K	$26K	5x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended WTI-USD	−0.0056%	1h	89.700	+0.116%	$1.3M	$14.5M	10x	as long as short
Gate CL_USDT	−0.0051%	8h	89.540	−0.063%	$23.1M	$53.9M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	89.320	−0.308%	$408K	$1.5M	15x	as long as short
edgeX CLUSDC	−0.0037%	4h	89.403	−0.216%	$494K	$384K	30x	as long as short
QFEX CL-USD	−0.0025%	1h	89.420	−0.196%	$2.2M	$2.8M	10x	as long as short
OKX CL-USDT-SWAP	−0.0023%	4h	89.690	+0.105%	$39.9M	$133.3M	50x	as long as short
Nado WTI-PERP	−0.0021%	1h	89.439	−0.175%	$872K	$689K	10x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	88.906	−0.770%	$605	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	89.540	−0.063%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	89.710	+0.127%	$26.9M	$109.1M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	89.457	−0.155%	$2.8M	$3.1M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	89.380	−0.241%	$32K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	89.493	−0.114%	$17K	$237K	10x	as long as short
Paradex CL-USD-PERP	+0.0016%	8h	89.415	−0.202%	$15K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	89.493	−0.115%	$10.5M	$10.4M	20x	as long as short
StandX CL-USD	+0.0040%	1h	89.390	−0.230%	$689K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	89.420	−0.196%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	89.437	−0.177%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	89.510	−0.096%	$2.0M	$84K	20x	as long as short
Pacifica CL	+0.0100%	1h	89.425	−0.191%	$299K	$737K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	89.702	+0.118%	$6.9M	$3.0M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	89.320	−0.308%	$52K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	89.495	−0.113%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0165% / S −0.0004%	1h	89.505	−0.102%	$77K	—	111x	as long as short
BloFin CL-USDT	+0.0217%	4h	89.470	−0.141%	$3.9M	$1.1M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	90.137	+0.604%	$16K	$5K	30x	as long as short