Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h −0.001%

Price spread now: OKX against Paradex−0.050%50s7-day average — · you buy dearer than you sell

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

Long on Paradex Short on OKX

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—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.050% cheaper against Paradex than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 50 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	Paradex CL-USD-PERP	92.937	0.0030	pay 0.0030% / 8h	6h 13m	$16K	$367	5x
Short	OKX CL-USDT-SWAP	92.890	−0.0014	pay 0.0007% / 4h	2h 13m	$42.8M	$104.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Paradex. 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 ParadexbpFee OKXbpOrdersPrice spread, now −0.050%Rate

Funding earned: −$9.29
Price spread: −0.050% → 0.000%: −$5.01
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee OKX: 5 bp × 2 orders: −$10
Net: −$28.3
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; OKX: live order book, 5 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 Paradex no order-book sample	—	—	—	—	—
Sell OKX live order book, 5 min ago	0.54 bp	5.5 bp −$6	6.8 bp −$68	15.0 bp −$1,501	125.4 bp −$62.7K

Paradex: 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 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	−0.0396%	1h	92.860	−0.082%	$198K	$365K	15x	as long as short
Aster CLUSD1	−0.0283%	4h	92.930	−0.007%	$24.0M	$72.3M	20x	as long as short
GRVT CL_USDT_Perp	−0.0258%	4h	92.840	−0.104%	$53K	$631K	25x	as long as short
Binance CLUSDT	−0.0243%	4h	92.890	−0.050%	$244.9M	$975.4M	100x	as long as short
Variational Omni CL	−0.0240%	4h	92.898	−0.042%	$13.4M	$11.0M	—	as long as short
Gate CL_USDT	−0.0110%	8h	92.840	−0.104%	$20.9M	$53.9M	100x	as long as short
Nado WTI-PERP	−0.0070%	1h	92.995	+0.063%	$964K	$675K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.201%	$402K	$946K	15x	as long as short
tradeXYZ xyz:CL	−0.0044%	1h	92.894	−0.046%	$184.5M	$220.5M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.941	+0.005%	$274K	$884K	25x	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	−0.0033%	1h	92.900	−0.039%	$2.5M	$1.7M	10x	as long as short
Ondo Perps WTI-USD.P	−0.0028%	1h	92.900	−0.039%	$3.5M	$5.7M	20x	as long as short
OKX CL-USDT-SWAPshort	−0.0014%	4h	92.890	−0.050%	$42.8M	$104.9M	50x
dYdX WTI-USD	0.0000%	1h	92.911	−0.027%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.910	−0.029%	$27.0M	$82.1M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.881	−0.060%	$42.0M	$43.9M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.920	−0.018%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.908	−0.031%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.438	−0.536%	$5K	—	150x	as long as short
Aftermath Perps WTIUSD	+0.0012%	1h	92.889	−0.051%	$2K	$28K	5x	as long as short
Paradex CL-USD-PERPlong	+0.0030%	8h	92.937	long leg	$16K	$367	5x
Lighter WTI	+0.0032%	1h	92.894	−0.046%	$11.2M	$10.4M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.920	−0.018%	$2.1M	$24.2M	10x	as long as short
RISEx CL/USDC	+0.0037%	1h	93.049	+0.120%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.370	−0.610%	$726K	$3.0M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.920	−0.018%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.923	−0.015%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.891	−0.049%	$2.1M	$61K	20x	as long as short
edgeX CLUSDC	+0.0061%	4h	92.816	−0.130%	$528K	$303K	30x	as long as short
KuCoin CLUSDTM	+0.0080%	4h	92.928	−0.009%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.960	+0.026%	$332K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.840	−0.104%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.875	−0.066%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.895	−0.045%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.04	+9.791%	$19K	$11K	30x	as long as short