Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0031%/8h= −3.3% APRpaid last 24h −0.020%

Price spread now: OKX against RISEx−0.134%46s7-day average −0.038% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$210.205% of the position

Long on RISEx Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.156%−$16 on $10k

Price spread, last 7 days+0.107%+$11 · spread now −0.134%, 7d avg −0.038%

Together, before fees−0.049%−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.097% cheaper against RISEx than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.038%). Swap the legs. The two prices were read 46 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	RISEx CL/USDC	93.376	0	get 0.0000% / 1h	38m 52s	$3.1M	$2.9M	20x
Short	OKX CL-USDT-SWAP	93.250	−0.0031	pay 0.0015% / 4h	3h 38m	$42.6M	$103.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against RISEx. 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 RISExbpFee OKXbpOrdersPrice spread, now −0.134%Rate

Funding earned: −$6.42
Price spread: −0.134% → −0.038%: −$9.66
Slippage, 4 orders: −$4.5
Fee RISEx: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$36.58
Costs to cover: 0.205%
Break-even: never at this rate

Slippage from RISEx: live order book, 5 min ago; OKX: live order book, 5 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 RISEx live order book, 5 min ago	1.61 bp	4.6 bp −$5	5.3 bp −$53	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.54 bp	5.5 bp −$6	7.1 bp −$71	14.5 bp −$1,452	117.5 bp −$58.7K

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	−0.0393%	1h	93.290	−0.092%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0260%	4h	93.281	−0.101%	$24.1M	$66.2M	20x	as long as short
GRVT CL_USDT_Perp	−0.0246%	4h	93.265	−0.119%	$54K	$645K	25x	as long as short
Binance CLUSDT	−0.0173%	4h	93.270	−0.113%	$245.5M	$942.0M	100x	as long as short
Variational Omni CL	−0.0159%	4h	93.269	−0.114%	$13.4M	$10.9M	—	as long as short
Nado WTI-PERP	−0.0130%	1h	93.363	−0.014%	$965K	$636K	10x	as long as short
Bitget CLUSDT	−0.0122%	4h	93.252	−0.132%	$42.0M	$43.3M	100x	as long as short
Aftermath Perps WTIUSD	−0.0116%	1h	93.262	−0.122%	$2K	$27K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0114%	1h	93.250	−0.134%	$3.5M	$5.4M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.310	−0.070%	$277K	$960K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0058%	4h	93.273	−0.110%	$524K	$305K	30x	as long as short
Gate CL_USDT	−0.0053%	8h	93.200	−0.188%	$21.1M	$51.1M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.190	−0.199%	$401K	$927K	15x	as long as short
QFEX CL-USD	−0.0033%	1h	93.290	−0.092%	$2.3M	$1.8M	10x	as long as short
OKX CL-USDT-SWAPshort	−0.0031%	4h	93.250	−0.134%	$42.6M	$103.0M	50x
Phoenix WTIOIL	−0.0009%	1h	93.300	−0.081%	$37K	$41K	20x	as long as short
tradeXYZ xyz:CL	−0.0008%	1h	93.277	−0.105%	$184.7M	$217.8M	20x	as long as short
KuCoin CLUSDTM	−0.0006%	4h	93.268	−0.115%	$7.1M	$2.4M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	93.352	−0.025%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.280	−0.102%	$26.9M	$80.6M	150x	as long as short
RISEx CL/USDClong	0.0000%	1h	93.376	long leg	$3.1M	$2.9M	20x
Bullet WTIOIL-USD	0.0000%	1h	93.315	−0.065%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.867	−0.545%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0018%	8h	93.299	−0.082%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	93.264	−0.119%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.290	−0.092%	$2.0M	$19.3M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.210	−0.177%	$737K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.320	−0.059%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.308	−0.072%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.279	−0.103%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.313	−0.067%	$331K	$597K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.290	−0.092%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.272	−0.111%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0209%	4h	93.280	−0.102%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.17	+9.414%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0220% / S −0.0148%	1h	93.315	−0.065%	$81K	—	111x	as long as short