Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h +0.015%

Price spread now: SoDEX against OKX+0.046%7-day average −0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$500.497% of the position

Long on OKX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.081%+$8 on $10k

Price spread, last 3 days (all we have)−0.136%−$14 · spread now +0.046%, 7d avg −0.014%

Together, before fees−0.055%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and SoDEX is 0.060% dearer against OKX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CL-USDT-SWAP	92.870	−0.0010	get 0.0005% / 4h	1h 49m	$42.8M	$102.4M	50x
Short	SoDEX CL-USD	92.913	0.0050	get 0.0006% / 1h	49m 35s	$2.1M	$61K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.046%Rate

Funding earned: $12.67
Price spread: +0.046% → −0.014%: $6.05
Slippage, 4 orders: −$31.67
Fee OKX: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$30.95
Costs to cover: 0.497%
Break-even: 24.1 days

Slippage from OKX: live order book, 4 min ago; SoDEX: live order book, 4 min ago.

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, 4 min ago	0.54 bp	5.5 bp −$6	6.4 bp −$64	11.9 bp −$1,194	doesn't fit
Sell SoDEX live order book, 4 min ago	0.54 bp	18.8 bp −$19	96.4 bp −$964	doesn't fit	doesn't fit

CL on 35 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	−0.0611%	1h	92.870	0.000%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0237%	4h	92.907	+0.039%	$24.0M	$70.4M	20x	as long as short
GRVT CL_USDT_Perp	−0.0208%	4h	92.953	+0.089%	$61K	$633K	25x	as long as short
Binance CLUSDT	−0.0205%	4h	92.876	+0.007%	$244.6M	$958.8M	100x	as long as short
Variational Omni CL	−0.0200%	4h	92.927	+0.061%	$13.5M	$11.1M	—	as long as short
Ondo Perps WTI-USD.P	−0.0125%	1h	92.820	−0.054%	$3.5M	$5.7M	20x	as long as short
Nado WTI-PERP	−0.0120%	1h	92.995	+0.135%	$963K	$668K	10x	as long as short
Gate CL_USDT	−0.0098%	8h	92.830	−0.043%	$20.9M	$52.2M	100x	as long as short
tradeXYZ xyz:CL	−0.0047%	1h	92.882	+0.013%	$184.7M	$218.5M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.129%	$402K	$944K	15x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0032%	1h	92.870	0.000%	$2.5M	$1.7M	10x	as long as short
Aftermath Perps WTIUSD	−0.0017%	1h	92.922	+0.056%	$2K	$28K	5x	as long as short
OKX CL-USDT-SWAPlong	−0.0010%	4h	92.870	long leg	$42.8M	$102.4M	50x
edgeX CLUSDC	−0.0008%	4h	92.823	−0.051%	$529K	$302K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	92.998	+0.138%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.902	+0.034%	$26.9M	$81.2M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.866	−0.004%	$41.9M	$43.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.880	+0.011%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.925	+0.059%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.471	−0.430%	$5K	—	150x	as long as short
Lighter WTI	+0.0016%	1h	92.892	+0.024%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.920	+0.054%	$2.1M	$23.3M	10x	as long as short
Paradex CL-USD-PERP	+0.0035%	8h	92.865	−0.006%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	92.470	−0.431%	$727K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.940	+0.075%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.944	+0.080%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USDshort	+0.0050%	1h	92.913	+0.046%	$2.1M	$61K	20x
RISEx CL/USDC	+0.0066%	1h	92.993	+0.133%	$3.3M	$2.7M	20x	as long as short
KuCoin CLUSDTM	+0.0072%	4h	92.901	+0.033%	$7.3M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.886	+0.017%	$332K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.940	+0.075%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.890	+0.021%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.917	+0.051%	$273K	$882K	25x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.905	+0.038%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.15	+9.989%	$19K	$11K	30x	as long as short