Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h −0.004%

Price spread now: gTrade (Gains Network) against OKX−0.349%7-day average — · you buy dearer than you sell

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

Long on OKX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 2 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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and gTrade (Gains Network) is 0.349% cheaper against OKX than usual: you would sell low and buy high (−$35 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CL-USDT-SWAP	89.690	0	get 0.0000% / 4h	58m 26s	$40.4M	$134.2M	50x
Short	gTrade (Gains Network) WTI/USD	89.377	L −0.0001% / S +0.0036%	pay 0.0004% / 1h	58m 26s	$608	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against OKX. 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 OKXbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.349%Rate

Funding earned: −$7.5
Price spread: −0.349% → 0.000%: −$34.9
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 4 bp × 2 orders: −$8
Net: −$60.4
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 4 min ago; gTrade (Gains Network): 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 OKX live order book, 4 min ago	0.56 bp	5.6 bp −$6	6.7 bp −$67	13.1 bp −$1,315	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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 exchanges

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
Kraken Futures PF_WTIOILUSD	−0.0232%	1h	89.720	+0.033%	$307K	$1.9M	25x	as long as short
Aftermath Perps WTIUSD	−0.0145%	1h	89.479	−0.235%	$1K	$26K	5x	as long as short
tradeXYZ xyz:CL	−0.0108%	1h	89.708	+0.020%	$174.4M	$249.7M	20x	as long as short
GRVT CL_USDT_Perp	−0.0106%	4h	89.344	−0.386%	$67K	$645K	25x	as long as short
Nado WTI-PERP	−0.0101%	1h	89.751	+0.068%	$886K	$704K	10x	as long as short
Bitget CLUSDT	−0.0090%	4h	89.710	+0.022%	$40.8M	$56.6M	100x	as long as short
Aster CLUSD1	−0.0070%	4h	89.780	+0.100%	$24.3M	$72.3M	20x	as long as short
edgeX CLUSDC	−0.0052%	4h	89.331	−0.400%	$497K	$375K	30x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0024%	1h	89.760	+0.078%	$416K	$1.5M	15x	as long as short
Binance CLUSDT	−0.0022%	4h	89.720	+0.033%	$242.7M	$1.20B	100x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0017%	1h	89.710	+0.022%	$2.2M	$2.9M	10x	as long as short
Gate CL_USDT	−0.0013%	8h	89.690	0.000%	$23.9M	$54.3M	100x	as long as short
gTrade (Gains Network) WTI/USDshort	L −0.0001% / S +0.0036%	1h	89.377	−0.349%	$608	—	150x
dYdX WTI-USD	0.0000%	1h	89.803	+0.126%	$8K	$4K	5x	as long as short
Extended WTI-USD	0.0000%	1h	89.760	+0.078%	$1.3M	$13.4M	10x	as long as short
Bybit CLUSDT	0.0000%	8h	89.733	+0.048%	$28.9M	$109.8M	150x	as long as short
OKX CL-USDT-SWAPlong	0.0000%	4h	89.690	long leg	$40.4M	$134.2M	50x
RISEx CL/USDC	0.0000%	1h	89.803	+0.127%	$2.8M	$3.1M	20x	as long as short
Variational Omni CL	0.0000%	4h	89.331	−0.400%	$12.5M	$11.3M	—	as long as short
Phoenix WTIOIL	0.0000%	1h	89.390	−0.334%	$33K	$35K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	89.729	+0.043%	$18K	$235K	10x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	0.0000%	1h	89.690	0.000%	$39K	$647K	15x	as long as short
Paradex CL-USD-PERP	+0.0026%	8h	89.727	+0.041%	$15K	$458	5x	as long as short
Lighter WTI	+0.0032%	1h	89.713	+0.026%	$10.5M	$10.9M	20x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	90.137	+0.498%	$16K	$5K	30x	as long as short
StandX CL-USD	+0.0040%	1h	89.700	+0.011%	$691K	$2.7M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	89.690	0.000%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	89.698	+0.009%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	89.700	+0.011%	$2.0M	$85K	20x	as long as short
Ondo Perps WTI-USD.P	+0.0050%	1h	89.700	+0.011%	$3.3M	$6.4M	20x	as long as short
Pacifica CL	+0.0100%	1h	89.763	+0.081%	$307K	$744K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	89.742	+0.058%	$6.8M	$3.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	89.340	−0.390%	$52K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	89.661	−0.033%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0159% / S +0.0024%	1h	89.705	+0.017%	$71K	—	111x	as long as short
BloFin CL-USDT	+0.0240%	4h	89.600	−0.100%	$3.9M	$1.1M	50x	as long as short