Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0165%/8h= −18.0% APRpaid last 24h −0.033%

Price spread now: OKX against ApeX Omni+0.011%80s7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$84as 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−$540.535% of the position

Long on ApeX Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.306%−$31 on $10k

Price spread, last 4 days (all we have)−0.021%−$2 · spread now +0.011%, 7d avg +0.002%

Together, before fees−0.327%−$33 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.002%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate. The two prices were read 80 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	ApeX Omni CLUSDT	93.260	0.0100	pay 0.0013% / 1h	46m 04s	$54K	$266K	50x
Short	OKX CL-USDT-SWAP	93.270	−0.0065	pay 0.0032% / 4h	46m 04s	$42.7M	$102.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against ApeX 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 ApeX OmnibpFee OKXbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$34.56
Price spread: +0.011% → +0.002%: $0.83
Slippage, 4 orders: −$33.53
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$87.26
Costs to cover: 0.535%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 56 min ago; OKX: live order book, 3 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 ApeX Omni live order book, 56 min ago	8.55 bp	21.2 bp −$21	185.5 bp −$1,855	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.54 bp	6.5 bp −$7	7.9 bp −$79	14.9 bp −$1,494	106.9 bp −$53.4K

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	−0.0607%	1h	93.250	−0.011%	$195K	$391K	15x	as long as short
Aster CLUSD1	−0.0288%	4h	93.310	+0.054%	$24.7M	$64.2M	20x	as long as short
GRVT CL_USDT_Perp	−0.0286%	4h	93.419	+0.171%	$75K	$636K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0209%	1h	93.275	+0.016%	$275K	$942K	25x	as long as short
Binance CLUSDT	−0.0165%	4h	93.280	+0.021%	$247.7M	$917.1M	100x	as long as short
Variational Omni CL	−0.0155%	4h	93.397	+0.147%	$13.4M	$10.6M	—	as long as short
Gate CL_USDT	−0.0128%	8h	93.230	−0.032%	$22.9M	$48.8M	100x	as long as short
Bitget CLUSDT	−0.0124%	4h	93.288	+0.030%	$42.3M	$41.5M	100x	as long as short
Aftermath Perps WTIUSD	−0.0119%	1h	93.393	+0.143%	$2K	$26K	5x	as long as short
Nado WTI-PERP	−0.0082%	1h	93.297	+0.039%	$957K	$624K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAPshort	−0.0065%	4h	93.270	+0.011%	$42.7M	$102.8M	50x
QFEX CL-USD	−0.0038%	1h	93.240	−0.021%	$2.3M	$2.5M	10x	as long as short
Lighter WTI	−0.0032%	1h	93.278	+0.019%	$11.2M	$9.1M	20x	as long as short
edgeX CLUSDC	−0.0031%	4h	93.422	+0.173%	$525K	$305K	30x	as long as short
Ondo Perps WTI-USD.P	−0.0026%	1h	93.200	−0.064%	$3.6M	$5.4M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.300%	$405K	$810K	15x	as long as short
tradeXYZ xyz:CL	−0.0015%	1h	93.303	+0.046%	$184.4M	$202.4M	20x	as long as short
Paradex CL-USD-PERP	−0.0001%	8h	93.217	−0.046%	$16K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	93.275	+0.016%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.290	+0.032%	$26.8M	$79.1M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.284	+0.026%	$3.0M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.370	+0.118%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.270	+0.011%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.844	−0.446%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0024%	1h	93.330	+0.075%	$1.6M	$15.2M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.290	+0.032%	$739K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.250	−0.011%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.241	−0.020%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.280	+0.021%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.241	−0.020%	$348K	$593K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.298	+0.041%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDTlong	+0.0100%	1h	93.260	long leg	$54K	$266K	50x
Aevo WTIOIL-PERP	+0.0104%	1h	93.254	−0.006%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0178%	4h	93.200	−0.064%	$4.0M	$982K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.83	+10.264%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0253% / S −0.0188%	1h	93.295	+0.038%	$84K	—	111x	as long as short