Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0038%/8h= −4.1% APRpaid last 24h −0.002%

Price spread now: Ondo Perps against OKX−0.011%48s7-day average −0.067% · you buy dearer than you sell

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

Long on OKX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.225%+$22 on $10k

Price spread, last 7 days+0.035%+$3 · spread now −0.011%, 7d avg −0.067%

Together, before fees+0.259%+ Points / potential airdropOndo Perps: Active · farm board+$26 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Ondo Perps is 0.056% dearer against OKX than usual: you sell high and buy low (spread −0.011% now, against its 7-day average of −0.067%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.0 days. Mind the row above: over the last 7 days funding on this pair paid +0.225%, so the current rate has only just turned against you. The two prices were read 48 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	92.180	0	get 0.0000% / 4h	12m 56s	$42.9M	$112.5M	50x
Short	Ondo Perps WTI-USD.P	92.170	−0.0038	pay 0.0005% / 1h	12m 56s	$3.5M	$6.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$7.9
Price spread: −0.011% → −0.067%: $5.61
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$17.29
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 1 min ago; Ondo Perps: 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, 1 min ago	0.54 bp	5.5 bp −$6	7.4 bp −$74	15.2 bp −$1,520	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Kraken Futures PF_WTIOILUSD	−0.0449%	1h	92.228	+0.052%	$273K	$1.2M	25x	as long as short
GRVT CL_USDT_Perp	−0.0310%	4h	92.191	+0.012%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0270%	4h	92.231	+0.055%	$23.9M	$77.6M	20x	as long as short
Binance CLUSDT	−0.0191%	4h	92.199	+0.021%	$244.4M	$1.09B	100x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0184%	1h	92.210	+0.033%	$96K	$189K	15x	as long as short
Variational Omni CL	−0.0173%	4h	92.192	+0.013%	$13.3M	$12.7M	—	as long as short
Nado WTI-PERP	−0.0132%	1h	92.264	+0.091%	$925K	$737K	10x	as long as short
Lighter WTI	−0.0072%	1h	92.197	+0.018%	$11.2M	$10.9M	20x	as long as short
QFEX CL-USD	−0.0054%	1h	92.200	+0.022%	$2.4M	$2.2M	10x	as long as short
Paradex CL-USD-PERP	−0.0048%	8h	92.191	+0.012%	$15K	$367	5x	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	−0.0045%	1h	92.224	+0.048%	$186.4M	$275.3M	20x	as long as short
Ondo Perps WTI-USD.Pshort	−0.0038%	1h	92.170	−0.011%	$3.5M	$6.3M	20x
Gate CL_USDT	−0.0032%	8h	92.130	−0.054%	$21.3M	$58.0M	100x	as long as short
Pacifica CL	−0.0020%	1h	92.197	+0.019%	$333K	$576K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.274	+0.102%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.190	+0.011%	$26.0M	$94.4M	150x	as long as short
OKX CL-USDT-SWAPlong	0.0000%	4h	92.180	long leg	$42.9M	$112.5M	50x
RISEx CL/USDC	0.0000%	1h	92.320	+0.151%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.189	+0.010%	$42.0M	$51.6M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.240	+0.065%	$37K	$101K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.197	+0.018%	$19K	$241K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	−0.163%	$399K	$963K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.772	−0.443%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	92.250	+0.076%	$2.0M	$26.7M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.210	+0.033%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.250	+0.076%	—	$308K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.200	+0.022%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.195	+0.016%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0082%	4h	92.220	+0.043%	$530K	$326K	30x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.203	+0.025%	$7.3M	$2.2M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.280	+0.108%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.180	0.000%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0205% / S −0.0130%	1h	92.195	+0.016%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.34	+9.933%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.200	+0.022%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0379%	1h	92.225	+0.049%	$2K	$29K	5x	as long as short