Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0212%/8h= −23.2% APRpaid last 24h −0.081%

Price spread now: OKX against GMX−0.005%52s7-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 OKX

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: −$6 a day on $10k at the current rate. The two prices were read 52 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	GMX WTIOIL/USD [ETH-USDC]	92.815	L +0.0207% / S −0.0131%	pay 0.0026% / 1h	57m 34s	$78K	—	111x
Short	OKX CL-USDT-SWAP	92.810	−0.0005	pay 0.0003% / 4h	2h 57m	$43.1M	$108.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.005%Rate

Funding earned: −$44.52
Price spread: −0.005% → 0.000%: −$0.54
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$67.06
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; OKX: live order book, 1 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 OKX live order book, 1 min ago	0.54 bp	5.5 bp −$6	6.6 bp −$66	14.6 bp −$1,464	115.3 bp −$57.6K

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	−0.0719%	1h	92.760	−0.059%	$192K	$358K	15x	as long as short
Aster CLUSD1	−0.0336%	4h	92.840	+0.027%	$24.0M	$74.9M	20x	as long as short
GRVT CL_USDT_Perp	−0.0328%	4h	92.784	−0.033%	$58K	$630K	25x	as long as short
Binance CLUSDT	−0.0282%	4h	92.810	−0.005%	$244.9M	$1.02B	100x	as long as short
Variational Omni CL	−0.0273%	4h	92.659	−0.168%	$13.3M	$11.4M	—	as long as short
Gate CL_USDT	−0.0190%	8h	92.780	−0.038%	$21.2M	$52.2M	100x	as long as short
Nado WTI-PERP	−0.0080%	1h	92.873	+0.062%	$935K	$696K	10x	as long as short
tradeXYZ xyz:CL	−0.0063%	1h	92.794	−0.023%	$186.4M	$234.7M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.030	−0.846%	$399K	$956K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0041%	1h	92.790	−0.027%	$3.5M	$5.9M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.833	+0.019%	$274K	$906K	25x	as long as short
QFEX CL-USD	−0.0033%	1h	92.830	+0.016%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAPshort	−0.0005%	4h	92.810	−0.005%	$43.1M	$108.3M	50x
dYdX WTI-USD	0.0000%	1h	92.832	+0.018%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.822	+0.008%	$26.4M	$86.4M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.807	−0.009%	$42.3M	$47.3M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.860	+0.048%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.795	−0.022%	$19K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.389	−0.459%	$5K	—	150x	as long as short
Lighter WTI	+0.0008%	1h	92.839	+0.026%	$11.2M	$10.0M	20x	as long as short
Paradex CL-USD-PERP	+0.0014%	8h	92.802	−0.014%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0016%	1h	92.860	+0.048%	$2.1M	$25.5M	10x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.939	+0.134%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.380	−0.469%	$723K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.820	+0.005%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.814	−0.001%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.825	+0.011%	$2.1M	$58K	20x	as long as short
KuCoin CLUSDTM	+0.0076%	4h	92.830	+0.016%	$7.2M	$2.3M	50x	as long as short
edgeX CLUSDC	+0.0089%	4h	92.726	−0.096%	$533K	$300K	30x	as long as short
Pacifica CL	+0.0100%	1h	92.839	+0.026%	$355K	$605K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.870	+0.059%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.782	−0.036%	$4K	—	10x	as long as short
Aftermath Perps WTIUSD	+0.0107%	1h	92.738	−0.083%	$2K	$28K	5x	as long as short
GMX WTIOIL/USD [ETH-USDC]long	L +0.0207% / S −0.0131%	1h	92.815	long leg	$78K	—	111x
Injective WTI/USDC PERP	+0.0220%	1h	101.69	+9.562%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0237%	4h	92.680	−0.145%	$4.0M	$1.2M	50x	as long as short