Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0387%/8h= +42.4% APRpaid last 24h +0.095%

Price spread now: GMX against Variational Omni+0.016%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$12 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CL	92.710	−0.0256	get 0.0128% / 4h	2h 25m	$13.3M	$11.1M	—
Short	GMX WTIOIL/USD [ETH-USDC]	92.725	L +0.0206% / S −0.0131%	get 0.0016% / 1h	25m 44s	$78K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Variational Omni. 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 Variational OmnibpFee GMXbpOrdersPrice spread, now +0.016%Rate

Funding earned: $81.26
Price spread: +0.016% → 0.000%: $1.65
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $70.91
Costs to cover: 0.120%
Break-even: 0.9 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; GMX: no order-book sample. Net counts fees only.

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 Variational Omni RFQ quote, 3 min ago	2.26 bp	doesn't fit	2.3 bp −$23	5.9 bp −$593	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CL on 35 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	92.690	−0.021%	$198K	$365K	15x	as long as short
Aster CLUSD1	−0.0311%	4h	92.760	+0.054%	$23.9M	$73.9M	20x	as long as short
GRVT CL_USDT_Perp	−0.0268%	4h	92.770	+0.065%	$53K	$631K	25x	as long as short
Binance CLUSDT	−0.0260%	4h	92.740	+0.033%	$244.1M	$983.1M	100x	as long as short
Variational Omni CLlong	−0.0256%	4h	92.710	long leg	$13.3M	$11.1M	—
Gate CL_USDT	−0.0126%	8h	92.690	−0.021%	$20.8M	$53.5M	100x	as long as short
tradeXYZ xyz:CL	−0.0057%	1h	92.752	+0.046%	$184.3M	$223.0M	20x	as long as short
Nado WTI-PERP	−0.0052%	1h	92.812	+0.110%	$965K	$678K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	+0.043%	$402K	$946K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0043%	1h	92.690	−0.021%	$3.5M	$5.7M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.772	+0.067%	$271K	$874K	25x	as long as short
QFEX CL-USD	−0.0033%	1h	92.730	+0.022%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0014%	4h	92.750	+0.043%	$42.7M	$105.5M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.757	+0.052%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.760	+0.054%	$26.9M	$82.7M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.737	+0.029%	$41.9M	$44.2M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.770	+0.065%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.757	+0.051%	$17K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.289	−0.454%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0026%	8h	92.740	+0.033%	$16K	$367	5x	as long as short
Aftermath Perps WTIUSD	+0.0030%	1h	92.786	+0.083%	$2K	$28K	5x	as long as short
Lighter WTI	+0.0032%	1h	92.744	+0.037%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.800	+0.097%	$2.1M	$24.8M	10x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.868	+0.171%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.350	−0.388%	$726K	$3.0M	40x	as long as short
edgeX CLUSDC	+0.0041%	4h	92.783	+0.079%	$534K	$296K	30x	as long as short
Vest CL-PERP	+0.0046%	1h	92.780	+0.076%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.752	+0.046%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.725	+0.016%	$2.1M	$61K	20x	as long as short
KuCoin CLUSDTM	+0.0074%	4h	92.758	+0.052%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.753	+0.046%	$331K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.770	+0.065%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.699	−0.011%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]short	L +0.0206% / S −0.0131%	1h	92.725	+0.016%	$78K	—	111x
Injective WTI/USDC PERP	+0.0220%	1h	101.83	+9.841%	$19K	$11K	30x	as long as short