Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0073%/8h= −8.0% APRpaid last 24h −0.011%

Price spread now: OKX against Extended−0.043%7-day average +0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$190.188% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.199%−$20 on $10k

Price spread, last 7 days+0.092%+$9 · spread now −0.043%, 7d avg +0.037%

Together, before fees−0.107%+ Points / potential airdropExtended: Active · farm board−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and OKX is 0.080% cheaper against Extended than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.037%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended WTI-USD	93.380	0.0008	pay 0.0001% / 1h	6m 59s	$2.0M	$18.3M	10x
Short	OKX CL-USDT-SWAP	93.340	−0.0065	pay 0.0033% / 4h	3h 06m	$42.7M	$103.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Extended. 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 ExtendedbpFee OKXbpOrdersPrice spread, now −0.043%Rate

Funding earned: −$15.4
Price spread: −0.043% → +0.037%: −$7.96
Slippage, 4 orders: −$3.78
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$42.14
Costs to cover: 0.188%
Break-even: never at this rate

Slippage from Extended: live order book, 2 min ago; OKX: live order book, 2 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 Extended live order book, 2 min ago	0.05 bp	3.8 bp −$4	6.5 bp −$65	25.1 bp −$2,508	doesn't fit
Sell OKX live order book, 2 min ago	0.54 bp	6.5 bp −$7	7.3 bp −$73	14.0 bp −$1,401	113.0 bp −$56.5K

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
Deribit WTIOIL_USDC-PERPETUAL	−0.0500%	1h	93.320	−0.064%	$198K	$371K	15x	as long as short
GRVT CL_USDT_Perp	−0.0334%	4h	93.324	−0.060%	$58K	$654K	25x	as long as short
Aster CLUSD1	−0.0284%	4h	93.360	−0.021%	$24.3M	$65.9M	20x	as long as short
Binance CLUSDT	−0.0189%	4h	93.340	−0.043%	$246.5M	$940.0M	100x	as long as short
Variational Omni CL	−0.0173%	4h	93.308	−0.077%	$13.3M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0141%	1h	93.300	−0.085%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0130%	4h	93.320	−0.064%	$42.0M	$43.2M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0129%	1h	93.280	−0.107%	$3.5M	$5.4M	20x	as long as short
Nado WTI-PERP	−0.0110%	1h	93.403	+0.025%	$966K	$629K	10x	as long as short
edgeX CLUSDC	−0.0079%	4h	93.332	−0.052%	$525K	$306K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0069%	8h	93.280	−0.107%	$21.4M	$51.5M	100x	as long as short
OKX CL-USDT-SWAPshort	−0.0065%	4h	93.340	−0.043%	$42.7M	$103.1M	50x
tradeXYZ xyz:CL	−0.0061%	1h	93.335	−0.048%	$184.7M	$217.1M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.368	−0.013%	$282K	$961K	25x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	−0.236%	$403K	$929K	15x	as long as short
QFEX CL-USD	−0.0033%	1h	93.330	−0.054%	$2.3M	$2.0M	10x	as long as short
Paradex CL-USD-PERP	−0.0022%	8h	93.321	−0.063%	$16K	$367	5x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.370	−0.011%	$37K	$41K	20x	as long as short
Lighter WTI	0.0000%	1h	93.337	−0.046%	$11.2M	$10.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.329	−0.054%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.358	−0.024%	$26.9M	$80.1M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.408	+0.030%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.351	−0.031%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.903	−0.511%	$5K	—	150x	as long as short
Extended WTI-USDlong	+0.0008%	1h	93.380	long leg	$2.0M	$18.3M	10x
KuCoin CLUSDTM	+0.0016%	4h	93.372	−0.009%	$7.1M	$2.4M	50x	as long as short
StandX CL-USD	+0.0040%	1h	93.180	−0.214%	$737K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.360	−0.021%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.347	−0.035%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.348	−0.034%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.350	−0.032%	$331K	$579K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.400	+0.021%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.314	−0.070%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0175%	4h	93.350	−0.032%	$4.0M	$990K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.37	+9.628%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0225% / S −0.0152%	1h	93.355	−0.027%	$81K	—	111x	as long as short