Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0490%/8h= −53.6% APRpaid last 24h −0.099%

Price spread now: Binance against GMX+0.005%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Binance

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—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$15 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX WTIOIL/USD [ETH-USDC]	92.675	L +0.0206% / S −0.0131%	pay 0.0026% / 1h	0m 59s	$78K	—	111x
Short	Binance CLUSDT	92.680	−0.0284	pay 0.0142% / 4h	3h 00m	$244.5M	$1.02B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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 GMXbpFee BinancebpOrdersPrice spread, now +0.005%Rate

Funding earned: −$102.88
Price spread: +0.005% → 0.000%: $0.54
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$124.35
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Binance: live order book, 13 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 13 min ago	0.54 bp	5.5 bp −$6	5.5 bp −$55	8.6 bp −$863	22.3 bp −$11.1K

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
GRVT CL_USDT_Perp	−0.0346%	4h	92.649	−0.028%	$58K	$630K	25x	as long as short
Aster CLUSD1	−0.0338%	4h	92.680	+0.005%	$23.9M	$75.0M	20x	as long as short
Binance CLUSDTshort	−0.0284%	4h	92.680	+0.005%	$244.5M	$1.02B	100x
Variational Omni CL	−0.0273%	4h	92.659	−0.017%	$13.3M	$11.4M	—	as long as short
Gate CL_USDT	−0.0189%	8h	92.600	−0.081%	$21.3M	$55.6M	100x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0181%	1h	92.670	−0.005%	$123K	$274K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.695	+0.021%	$275K	$912K	25x	as long as short
Ondo Perps WTI-USD.P	−0.0053%	1h	92.670	−0.005%	$3.5M	$5.9M	20x	as long as short
Nado WTI-PERP	−0.0051%	1h	92.717	+0.046%	$935K	$701K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.696%	$399K	$956K	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	92.650	−0.027%	$2.4M	$1.7M	10x	as long as short
tradeXYZ xyz:CL	−0.0031%	1h	92.682	+0.008%	$186.0M	$233.6M	20x	as long as short
OKX CL-USDT-SWAP	−0.0003%	4h	92.660	−0.016%	$42.9M	$108.5M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.742	+0.072%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.680	+0.005%	$26.4M	$87.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.783	+0.116%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.678	+0.003%	$42.1M	$47.9M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.740	+0.070%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.676	+0.001%	$18K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.220	−0.491%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0008%	1h	92.710	+0.038%	$2.3M	$25.5M	10x	as long as short
Paradex CL-USD-PERP	+0.0011%	8h	92.649	−0.028%	$15K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	92.674	−0.001%	$11.2M	$10.3M	20x	as long as short
edgeX CLUSDC	+0.0035%	4h	92.691	+0.017%	$533K	$300K	30x	as long as short
StandX CL-USD	+0.0040%	1h	92.360	−0.340%	$722K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.700	+0.027%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.678	+0.003%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.668	−0.008%	$2.1M	$59K	20x	as long as short
KuCoin CLUSDTM	+0.0078%	4h	92.683	+0.009%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.668	−0.008%	$354K	$605K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.780	+0.113%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.640	−0.038%	$4K	—	10x	as long as short
Aftermath Perps WTIUSD	+0.0118%	1h	92.701	+0.029%	$2K	$28K	5x	as long as short
GMX WTIOIL/USD [ETH-USDC]long	L +0.0206% / S −0.0131%	1h	92.675	long leg	$78K	—	111x
Injective WTI/USDC PERP	+0.0220%	1h	101.69	+9.728%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0238%	4h	92.660	−0.016%	$4.0M	$1.2M	50x	as long as short