Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0337%/8h= +36.9% APRpaid last 24h +0.073%

Price spread now: GMX against Variational Omni+0.071%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and GMX is 0.071% dearer against Variational Omni than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CL	93.349	−0.0163	get 0.0081% / 4h	2h 04m	$13.4M	$10.9M	—
Short	GMX WTIOIL/USD [ETH-USDC]	93.415	L +0.0241% / S −0.0174%	get 0.0022% / 1h	4m 17s	$84K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Variational Omni. 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 Variational OmnibpFee GMXbpOrdersPrice spread, now +0.071%Rate

Funding earned: $70.72
Price spread: +0.071% → 0.000%: $7.11
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $65.83
Costs to cover: 0.120%
Break-even: 0.5 days

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; GMX: 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 Variational Omni RFQ quote, 5 min ago	2.26 bp	doesn't fit	2.3 bp −$23	7.0 bp −$702	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
Deribit WTIOIL_USDC-PERPETUAL	−0.0285%	1h	93.390	+0.044%	$196K	$377K	15x	as long as short
Aster CLUSD1	−0.0274%	4h	93.436	+0.093%	$24.4M	$64.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0274%	4h	93.368	+0.020%	$58K	$629K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.437	+0.095%	$285K	$959K	25x	as long as short
Binance CLUSDT	−0.0169%	4h	93.412	+0.067%	$246.3M	$931.3M	100x	as long as short
Variational Omni CLlong	−0.0163%	4h	93.349	long leg	$13.4M	$10.9M	—
Aftermath Perps WTIUSD	−0.0148%	1h	93.406	+0.061%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0120%	4h	93.381	+0.035%	$42.1M	$42.7M	100x	as long as short
Nado WTI-PERP	−0.0105%	1h	93.458	+0.117%	$971K	$630K	10x	as long as short
Gate CL_USDT	−0.0083%	8h	93.340	−0.009%	$22.1M	$50.4M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps WTI-USD.P	−0.0077%	1h	93.310	−0.041%	$3.5M	$5.4M	20x	as long as short
tradeXYZ xyz:CL	−0.0076%	1h	93.406	+0.061%	$184.8M	$212.3M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.500	+0.162%	$404K	$931K	15x	as long as short
OKX CL-USDT-SWAP	−0.0037%	4h	93.400	+0.055%	$42.6M	$101.9M	50x	as long as short
QFEX CL-USD	−0.0032%	1h	93.400	+0.055%	$2.3M	$2.5M	10x	as long as short
edgeX CLUSDC	−0.0001%	4h	93.375	+0.029%	$525K	$306K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	93.405	+0.061%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.420	+0.076%	$27.0M	$79.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.463	+0.123%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.540	+0.205%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.422	+0.079%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.961	−0.415%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0021%	8h	93.393	+0.048%	$16K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	93.413	+0.069%	$11.3M	$10.0M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.450	+0.109%	$2.0M	$16.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.410	+0.066%	$739K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.400	+0.055%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.407	+0.063%	$332K	$577K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.403	+0.058%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.418	+0.074%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0098%	4h	93.430	+0.087%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.460	+0.119%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.384	+0.038%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0202%	4h	93.370	+0.023%	$4.0M	$988K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.64	+9.959%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]short	L +0.0241% / S −0.0174%	1h	93.415	+0.071%	$84K	—	111x