Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0614%/8h= +67.2% APRpaid last 24h +0.013%

Price spread now: OKX against Deribit+0.054%7-day average −0.010% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$230.234% of the position

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.028%−$3 on $10k

Price spread, last 3 days (all we have)+0.023%+$2 · spread now +0.054%, 7d avg −0.010%

Together, before fees−0.005%$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and OKX is 0.064% dearer against Deribit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.010%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.028% in total (about -2.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit WTIOIL_USDC-PERPETUAL	92.510	−0.0614	get 0.0077% / 1h	25m 10s	$108K	$234K	15x
Short	OKX CL-USDT-SWAP	92.560	0	get 0.0000% / 4h	3h 25m	$43.0M	$111.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Deribit. 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 DeribitbpFee OKXbpOrdersPrice spread, now +0.054%Rate

Funding earned: $128.94
Price spread: +0.054% → −0.010%: $6.44
Slippage, 4 orders: −$6.41
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: $111.97
Costs to cover: 0.234%
Break-even: 0.9 days

Slippage from Deribit: live order book, 48 min ago; OKX: live order book, 4 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 Deribit live order book, 48 min ago	0.54 bp	4.0 bp −$4	5.7 bp −$57	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.54 bp	5.5 bp −$6	6.2 bp −$62	13.5 bp −$1,346	99.6 bp −$49.8K

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-PERPETUALlong	−0.0614%	1h	92.510	long leg	$108K	$234K	15x
GRVT CL_USDT_Perp	−0.0350%	4h	92.486	−0.026%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0333%	4h	92.566	+0.061%	$24.0M	$78.7M	20x	as long as short
Binance CLUSDT	−0.0272%	4h	92.560	+0.054%	$245.3M	$1.06B	100x	as long as short
Variational Omni CL	−0.0265%	4h	92.480	−0.033%	$13.1M	$12.2M	—	as long as short
Gate CL_USDT	−0.0212%	8h	92.490	−0.022%	$21.3M	$55.1M	100x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.577	+0.073%	$274K	$1.1M	25x	as long as short
Nado WTI-PERP	−0.0067%	1h	92.608	+0.106%	$933K	$732K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0047%	1h	92.500	−0.011%	$3.5M	$6.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.519%	$399K	$959K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0040%	1h	92.540	+0.032%	$2.4M	$2.1M	10x	as long as short
tradeXYZ xyz:CL	−0.0024%	1h	92.561	+0.055%	$186.7M	$257.2M	20x	as long as short
Paradex CL-USD-PERP	−0.0006%	8h	92.546	+0.039%	$15K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	92.582	+0.077%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.570	+0.065%	$26.4M	$92.1M	150x	as long as short
OKX CL-USDT-SWAPshort	0.0000%	4h	92.560	+0.054%	$43.0M	$111.1M	50x
RISEx CL/USDC	0.0000%	1h	92.679	+0.183%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.540	+0.032%	$42.1M	$50.7M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.500	−0.011%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.561	+0.055%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.109	−0.433%	$5K	—	150x	as long as short
edgeX CLUSDC	+0.0015%	4h	92.485	−0.027%	$532K	$298K	30x	as long as short
Lighter WTI	+0.0016%	1h	92.558	+0.052%	$11.2M	$10.1M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.590	+0.086%	$2.3M	$26.7M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.380	−0.141%	$723K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.560	+0.054%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.570	+0.065%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.555	+0.049%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.561	+0.056%	$356K	$603K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.582	+0.078%	$7.2M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.560	+0.054%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.519	+0.009%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.555	+0.049%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.56	+9.778%	$19K	$11K	30x	as long as short
Aftermath Perps WTIUSD	+0.0233%	1h	92.511	+0.001%	$2K	$28K	5x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.480	−0.032%	$4.0M	$1.4M	50x	as long as short