Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0018%/8h= −2.0% APRpaid last 24h +0.006%

Price spread now: OKX against tradeXYZ+0.021%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on tradeXYZ Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 7 days+0.014%+$1 · spread now +0.021%, 7d avg +0.022%

Together, before fees−0.043%+ Points / potential airdroptradeXYZ: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.022%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:CL	90.911	−0.0018	get 0.0002% / 1h	54m 20s	$177.1M	$206.3M	20x
Short	OKX CL-USDT-SWAP	90.930	−0.0036	pay 0.0018% / 4h	2h 54m	$41.1M	$112.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.021%Rate

Funding earned: −$3.78
Price spread: +0.021% → +0.022%: −$0.15
Slippage, 4 orders: −$2.75
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee OKX: 5 bp × 2 orders: −$10
Net: −$34.68
Costs to cover: 0.308%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 6 min ago; OKX: live order book, 5 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, 6 min ago	0.39 bp	9.4 bp −$9	9.4 bp −$94	11.0 bp −$1,103	doesn't fit
Sell OKX live order book, 5 min ago	0.55 bp	6.4 bp −$6	7.5 bp −$75	17.2 bp −$1,722	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
Kraken Futures PF_WTIOILUSD	−0.0364%	1h	90.848	−0.069%	$267K	$1.0M	25x	as long as short
ApeX Omni CLUSDT	−0.0289%	1h	90.470	−0.485%	$53K	$266K	50x	as long as short
Aster CLUSD1	−0.0194%	4h	90.950	+0.043%	$24.5M	$61.6M	20x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0190%	1h	90.840	−0.078%	$182K	$416K	15x	as long as short
Binance CLUSDT	−0.0116%	4h	90.945	+0.038%	$246.1M	$1.05B	100x	as long as short
Bitget CLUSDT	−0.0096%	4h	90.901	−0.011%	$40.9M	$46.3M	100x	as long as short
Variational Omni CL	−0.0091%	4h	90.607	−0.334%	$13.0M	$11.0M	—	as long as short
Gate CL_USDT	−0.0069%	8h	90.870	−0.045%	$23.0M	$50.9M	100x	as long as short
Nado WTI-PERP	−0.0060%	1h	90.969	+0.063%	$939K	$634K	10x	as long as short
edgeX CLUSDC	−0.0045%	4h	90.565	−0.381%	$518K	$357K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT CL_USDT_Perp	−0.0040%	4h	90.480	−0.474%	$70K	$617K	25x	as long as short
OKX CL-USDT-SWAPshort	−0.0036%	4h	90.930	+0.021%	$41.1M	$112.3M	50x
Aftermath Perps WTIUSD	−0.0035%	1h	90.667	−0.268%	$1K	$27K	5x	as long as short
QFEX CL-USD	−0.0023%	1h	90.890	−0.023%	$2.2M	$2.9M	10x	as long as short
tradeXYZ xyz:CLlong	−0.0018%	1h	90.911	long leg	$177.1M	$206.3M	20x
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	89.952	−1.055%	$1K	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	90.874	−0.041%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	90.960	+0.054%	$26.4M	$92.1M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	90.967	+0.062%	$2.9M	$3.0M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	90.919	+0.009%	$18K	$238K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0008%	1h	90.590	−0.353%	$408K	$1.0M	15x	as long as short
Phoenix WTIOIL	+0.0009%	1h	90.620	−0.320%	$36K	$37K	20x	as long as short
Paradex CL-USD-PERP	+0.0018%	8h	90.836	−0.083%	$15K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	90.906	−0.005%	$11.0M	$9.0M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	90.940	+0.032%	$1.6M	$13.7M	10x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	102.13	+12.345%	$19K	$5K	30x	as long as short
StandX CL-USD	+0.0040%	1h	90.530	−0.419%	$704K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	90.850	−0.067%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	90.903	−0.009%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	90.866	−0.049%	$2.0M	$81K	20x	as long as short
Ondo Perps WTI-USD.P	+0.0050%	1h	90.880	−0.034%	$3.5M	$5.2M	20x	as long as short
Pacifica CL	+0.0100%	1h	90.899	−0.013%	$335K	$573K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	90.923	+0.013%	$6.9M	$2.8M	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	90.864	−0.052%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0199%	4h	90.800	−0.122%	$4.0M	$1.0M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0255% / S −0.0185%	1h	90.825	−0.095%	$84K	—	111x	as long as short