Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h −0.010%

Price spread now: gTrade (Gains Network) against OKX−0.451%7-day average — · you buy dearer than you sell

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

Long on OKX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and gTrade (Gains Network) is 0.451% cheaper against OKX than usual: you would sell low and buy high (−$45 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CL-USDT-SWAP	92.230	0	get 0.0000% / 4h	3h 45m	$42.9M	$111.2M	50x
Short	gTrade (Gains Network) WTI/USD	91.814	L 0.0000% / S +0.0036%	pay 0.0004% / 1h	45m 50s	$5K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against OKX. 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 OKXbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.451%Rate

Funding earned: −$7.5
Price spread: −0.451% → 0.000%: −$45.1
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 4 bp × 2 orders: −$8
Net: −$70.61
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 3 min ago; gTrade (Gains Network): 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 OKX live order book, 3 min ago	0.54 bp	5.5 bp −$6	6.1 bp −$61	13.2 bp −$1,318	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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
GRVT CL_USDT_Perp	−0.0532%	4h	92.209	−0.023%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0325%	4h	92.270	+0.043%	$23.9M	$80.4M	20x	as long as short
Gate CL_USDT	−0.0266%	8h	92.190	−0.043%	$21.3M	$54.5M	100x	as long as short
Binance CLUSDT	−0.0256%	4h	92.260	+0.033%	$244.9M	$1.08B	100x	as long as short
Variational Omni CL	−0.0246%	4h	92.241	+0.012%	$13.2M	$12.2M	—	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.291	+0.066%	$273K	$1.1M	25x	as long as short
Nado WTI-PERP	−0.0106%	1h	92.296	+0.072%	$925K	$733K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0090%	1h	92.200	−0.033%	$3.5M	$6.2M	20x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0075%	1h	92.260	+0.033%	$96K	$189K	15x	as long as short
Bybit CLUSDT	−0.0054%	8h	92.260	+0.033%	$26.1M	$93.6M	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0043%	1h	92.266	+0.039%	$186.3M	$261.7M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.217%	$399K	$960K	15x	as long as short
QFEX CL-USD	−0.0040%	1h	92.240	+0.011%	$2.4M	$2.2M	10x	as long as short
Paradex CL-USD-PERP	−0.0031%	8h	92.239	+0.010%	$15K	$367	5x	as long as short
Lighter WTI	−0.0024%	1h	92.256	+0.028%	$11.2M	$10.0M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.235	+0.006%	$8K	$3K	5x	as long as short
OKX CL-USDT-SWAPlong	0.0000%	4h	92.230	long leg	$42.9M	$111.2M	50x
RISEx CL/USDC	0.0000%	1h	92.360	+0.140%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.242	+0.013%	$42.0M	$51.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.210	−0.022%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.258	+0.030%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USDshort	L 0.0000% / S +0.0036%	1h	91.814	−0.451%	$5K	—	150x
edgeX CLUSDC	+0.0020%	4h	92.197	−0.036%	$530K	$307K	30x	as long as short
Extended WTI-USD	+0.0032%	1h	92.270	+0.043%	$2.1M	$27.0M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.160	−0.076%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.280	+0.054%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.264	+0.037%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.249	+0.021%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.262	+0.035%	$353K	$596K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.275	+0.049%	$7.2M	$2.3M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.180	−0.054%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.221	−0.009%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.255	+0.027%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.38	+9.923%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.240	+0.011%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0397%	1h	92.223	−0.007%	$2K	$29K	5x	as long as short