Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0289%/8h= −31.6% APRpaid last 24h −0.089%

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

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

Long on GMX Short on Gate

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: −$9 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]	93.155	L +0.0223% / S −0.0151%	pay 0.0028% / 1h	18m 29s	$81K	—	111x
Short	Gate CL_USDT	93.150	−0.0066	pay 0.0066% / 8h	3h 18m	$21.3M	$51.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.005%Rate

Funding earned: −$60.65
Price spread: −0.005% → 0.000%: −$0.54
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$88.19
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Gate: 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 Gate live order book, 5 min ago	0.54 bp	9.4 bp −$9	12.7 bp −$127	27.4 bp −$2,744	34.5 bp −$17.2K

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	−0.0608%	1h	93.130	−0.027%	$199K	$370K	15x	as long as short
GRVT CL_USDT_Perp	−0.0326%	4h	93.123	−0.035%	$54K	$645K	25x	as long as short
Aster CLUSD1	−0.0278%	4h	93.230	+0.081%	$24.3M	$66.0M	20x	as long as short
Binance CLUSDT	−0.0185%	4h	93.201	+0.049%	$246.0M	$940.3M	100x	as long as short
Variational Omni CL	−0.0167%	4h	93.119	−0.039%	$13.3M	$10.9M	—	as long as short
Ondo Perps WTI-USD.P	−0.0133%	1h	93.140	−0.016%	$3.5M	$5.4M	20x	as long as short
Bitget CLUSDT	−0.0132%	4h	93.201	+0.049%	$42.0M	$43.2M	100x	as long as short
Aftermath Perps WTIUSD	−0.0127%	1h	93.197	+0.045%	$2K	$27K	5x	as long as short
Nado WTI-PERP	−0.0119%	1h	93.279	+0.133%	$965K	$630K	10x	as long as short
Gate CL_USDTshort	−0.0066%	8h	93.150	−0.005%	$21.3M	$51.5M	100x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.163	+0.009%	$280K	$957K	25x	as long as short
OKX CL-USDT-SWAP	−0.0060%	4h	93.210	+0.059%	$42.6M	$102.8M	50x	as long as short
tradeXYZ xyz:CL	−0.0054%	1h	93.212	+0.061%	$184.5M	$217.6M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	+0.005%	$403K	$929K	15x	as long as short
QFEX CL-USD	−0.0033%	1h	93.190	+0.038%	$2.3M	$1.9M	10x	as long as short
Paradex CL-USD-PERP	−0.0027%	8h	93.198	+0.046%	$16K	$367	5x	as long as short
edgeX CLUSDC	−0.0025%	4h	93.146	−0.010%	$524K	$306K	30x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.210	+0.059%	$37K	$41K	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.255	+0.107%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.220	+0.070%	$26.8M	$80.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.273	+0.126%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.208	+0.056%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.787	−0.395%	$5K	—	150x	as long as short
KuCoin CLUSDTM	+0.0004%	4h	93.223	+0.073%	$7.1M	$2.4M	50x	as long as short
Lighter WTI	+0.0008%	1h	93.216	+0.065%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0016%	1h	93.270	+0.123%	$2.0M	$18.7M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.140	−0.016%	$736K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.220	+0.070%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.214	+0.063%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.158	+0.003%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.217	+0.066%	$331K	$579K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.220	+0.070%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.122	−0.035%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0183%	4h	93.140	−0.016%	$4.0M	$999K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.51	+10.042%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]long	L +0.0223% / S −0.0151%	1h	93.155	long leg	$81K	—	111x