Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0241%/8h= −26.4% APRpaid last 24h −0.065%

Price spread now: Bybit against GMX+0.005%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Bybit

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—needs 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: −$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX WTIOIL/USD [ETH-USDC]	93.415	L +0.0241% / S −0.0174%	pay 0.0030% / 1h	3m 43s	$84K	—	111x
Short	Bybit CLUSDT	93.420	0	get 0.0000% / 8h	2h 03m	$27.0M	$79.5M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against GMX. 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 GMXbpFee BybitbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$50.54
Price spread: +0.005% → 0.000%: $0.54
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$73.01
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bybit: live order book, 5 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 5 min ago	0.54 bp	6.0 bp −$6	7.6 bp −$76	17.9 bp −$1,790	115.9 bp −$58.0K

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 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	−0.0285%	1h	93.390	−0.027%	$196K	$377K	15x	as long as short
GRVT CL_USDT_Perp	−0.0274%	4h	93.368	−0.051%	$58K	$629K	25x	as long as short
Aster CLUSD1	−0.0274%	4h	93.430	+0.016%	$24.4M	$64.5M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.437	+0.024%	$285K	$959K	25x	as long as short
Binance CLUSDT	−0.0168%	4h	93.400	−0.016%	$246.3M	$930.9M	100x	as long as short
Variational Omni CL	−0.0163%	4h	93.349	−0.071%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0148%	1h	93.406	−0.010%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0120%	4h	93.382	−0.035%	$42.1M	$42.7M	100x	as long as short
Nado WTI-PERP	−0.0105%	1h	93.458	+0.046%	$971K	$630K	10x	as long as short
Gate CL_USDT	−0.0083%	8h	93.320	−0.102%	$22.1M	$50.4M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps WTI-USD.P	−0.0076%	1h	93.370	−0.048%	$3.5M	$5.4M	20x	as long as short
tradeXYZ xyz:CL	−0.0076%	1h	93.390	−0.027%	$184.8M	$212.3M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.500	+0.091%	$404K	$931K	15x	as long as short
OKX CL-USDT-SWAP	−0.0036%	4h	93.400	−0.016%	$42.6M	$101.8M	50x	as long as short
QFEX CL-USD	−0.0032%	1h	93.400	−0.016%	$2.3M	$2.5M	10x	as long as short
edgeX CLUSDC	−0.0001%	4h	93.375	−0.043%	$525K	$306K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	93.405	−0.010%	$8K	$3K	5x	as long as short
Bybit CLUSDTshort	0.0000%	8h	93.420	+0.005%	$27.0M	$79.5M	150x
RISEx CL/USDC	0.0000%	1h	93.425	+0.011%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.540	+0.134%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.422	+0.007%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.961	−0.486%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0021%	8h	93.383	−0.035%	$16K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	93.401	−0.015%	$11.3M	$10.0M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.420	+0.005%	$2.0M	$16.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.410	−0.005%	$739K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.400	−0.016%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.405	−0.011%	$332K	$577K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.403	−0.013%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.418	+0.003%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.417	+0.002%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.460	+0.048%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.384	−0.033%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0202%	4h	93.370	−0.048%	$4.0M	$988K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.64	+9.881%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]long	L +0.0241% / S −0.0174%	1h	93.415	long leg	$84K	—	111x