Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.008%

Price spread now: OKX against StandX−0.043%49s7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

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

costs, in and out, $10k−$320.321% of the position

Long on StandX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.204%−$20 on $10k

Price spread, last 7 days+0.070%+$7 · spread now −0.043%, 7d avg +0.033%

Together, before fees−0.134%+ Points / potential airdropStandX: Active · farm board−$13 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 0.076% cheaper against StandX than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.033%). Swap the legs. The two prices were read 49 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	StandX CL-USD	92.210	0.0040	pay 0.0005% / 1h	12m 47s	$721K	$3.1M	40x
Short	OKX CL-USDT-SWAP	92.170	0	get 0.0000% / 4h	12m 47s	$42.9M	$112.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against StandX. 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 StandXbpFee OKXbpOrdersPrice spread, now −0.043%Rate

Funding earned: −$8.4
Price spread: −0.043% → +0.033%: −$7.65
Slippage, 4 orders: −$14.1
Fee StandX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$48.15
Costs to cover: 0.321%
Break-even: never at this rate

Slippage from StandX: live order book, 1 min ago; OKX: live order book, 1 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 StandX live order book, 1 min ago	6.51 bp	10.5 bp −$11	13.7 bp −$137	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.54 bp	5.5 bp −$6	6.1 bp −$61	12.9 bp −$1,291	93.0 bp −$46.5K

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	+0.019%	$273K	$1.2M	25x	as long as short
GRVT CL_USDT_Perp	−0.0310%	4h	92.191	−0.020%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0272%	4h	92.225	+0.016%	$23.9M	$77.6M	20x	as long as short
Binance CLUSDT	−0.0194%	4h	92.180	−0.033%	$244.4M	$1.09B	100x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0184%	1h	92.210	0.000%	$96K	$189K	15x	as long as short
Variational Omni CL	−0.0173%	4h	92.192	−0.020%	$13.3M	$12.7M	—	as long as short
Nado WTI-PERP	−0.0132%	1h	92.264	+0.059%	$925K	$737K	10x	as long as short
Lighter WTI	−0.0072%	1h	92.183	−0.029%	$11.2M	$10.9M	20x	as long as short
QFEX CL-USD	−0.0054%	1h	92.200	−0.011%	$2.4M	$2.2M	10x	as long as short
Paradex CL-USD-PERP	−0.0048%	8h	92.191	−0.020%	$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	92.213	+0.003%	$186.4M	$275.3M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0038%	1h	92.170	−0.043%	$3.5M	$6.3M	20x	as long as short
Gate CL_USDT	−0.0032%	8h	92.130	−0.087%	$21.3M	$58.0M	100x	as long as short
Pacifica CL	−0.0020%	1h	92.197	−0.014%	$333K	$576K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.274	+0.070%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.180	−0.033%	$26.0M	$94.4M	150x	as long as short
OKX CL-USDT-SWAPshort	0.0000%	4h	92.170	−0.043%	$42.9M	$112.5M	50x
RISEx CL/USDC	0.0000%	1h	92.320	+0.119%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.180	−0.033%	$42.0M	$51.6M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.240	+0.033%	$37K	$101K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.197	−0.014%	$19K	$241K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	−0.195%	$399K	$963K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.772	−0.475%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	92.250	+0.043%	$2.0M	$26.7M	10x	as long as short
StandX CL-USDlong	+0.0040%	1h	92.210	long leg	$721K	$3.1M	40x
Vest CL-PERP	+0.0046%	1h	92.250	+0.043%	—	$308K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.200	−0.011%	$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	+0.011%	$530K	$326K	30x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.203	−0.008%	$7.3M	$2.2M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.280	+0.076%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.180	−0.032%	$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	+9.897%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.200	−0.011%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0379%	1h	92.225	+0.016%	$2K	$29K	5x	as long as short