Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.042%

Price spread now: Injective against OKX+9.719%68s7-day average — · you sell dearer than you buy

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

Long on OKX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Injective is 9.719% dearer against OKX than usual: you sell high and buy low: +$972 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 68 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	OKX CL-USDT-SWAP	92.560	0	get 0.0000% / 4h	3h 24m	$43.1M	$111.3M	50x
Short	Injective WTI/USDC PERP	101.56	0.0220	get 0.0028% / 1h	24m 07s	$19K	$11K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +9.719%Rate

Funding earned: $46.2
Price spread: +9.719% → 0.000%: $971.91
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,008.09
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: OKX: live order book, 5 min ago; Injective: 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, 5 min ago	0.54 bp	6.6 bp −$7	7.3 bp −$73	14.2 bp −$1,423	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0614%	1h	92.530	−0.032%	$123K	$275K	15x	as long as short
GRVT CL_USDT_Perp	−0.0350%	4h	92.486	−0.080%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0333%	4h	92.579	+0.020%	$24.0M	$78.6M	20x	as long as short
Binance CLUSDT	−0.0272%	4h	92.570	+0.011%	$245.2M	$1.06B	100x	as long as short
Variational Omni CL	−0.0265%	4h	92.480	−0.087%	$13.1M	$12.2M	—	as long as short
Gate CL_USDT	−0.0212%	8h	92.500	−0.065%	$21.3M	$55.1M	100x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.590	+0.033%	$274K	$1.1M	25x	as long as short
Nado WTI-PERP	−0.0065%	1h	92.618	+0.062%	$933K	$732K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0048%	1h	92.520	−0.043%	$3.5M	$6.1M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.573%	$399K	$959K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0040%	1h	92.550	−0.011%	$2.4M	$2.1M	10x	as long as short
tradeXYZ xyz:CL	−0.0024%	1h	92.577	+0.018%	$186.8M	$235.7M	20x	as long as short
Paradex CL-USD-PERP	−0.0005%	8h	92.551	−0.010%	$15K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	92.582	+0.023%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.590	+0.032%	$26.4M	$92.2M	150x	as long as short
OKX CL-USDT-SWAPlong	0.0000%	4h	92.560	long leg	$43.1M	$111.3M	50x
RISEx CL/USDC	0.0000%	1h	92.677	+0.127%	$3.3M	$2.8M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.562	+0.002%	$42.1M	$50.7M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.500	−0.065%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.568	+0.009%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.124	−0.471%	$5K	—	150x	as long as short
edgeX CLUSDC	+0.0015%	4h	92.485	−0.081%	$532K	$298K	30x	as long as short
Lighter WTI	+0.0016%	1h	92.568	+0.009%	$11.2M	$10.1M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.610	+0.054%	$2.3M	$26.7M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.400	−0.173%	$723K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.580	+0.022%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.578	+0.019%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.568	+0.009%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.569	+0.010%	$356K	$603K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.592	+0.035%	$7.2M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.560	0.000%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.530	−0.032%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.565	+0.005%	$78K	—	111x	as long as short
Injective WTI/USDC PERPshort	+0.0220%	1h	101.56	+9.719%	$19K	$11K	30x
Aftermath Perps WTIUSD	+0.0226%	1h	92.526	−0.037%	$2K	$28K	5x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.480	−0.086%	$4.0M	$1.4M	50x	as long as short