Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0098%/8h= −10.7% APRpaid last 24h −0.020%

Price spread now: Gate against OKX−0.043%7-day average −0.075% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

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

costs, in and out, $10k−$300.298% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.232%−$23 on $10k

Price spread, last 7 days−0.085%−$9 · spread now −0.043%, 7d avg −0.075%

Together, before fees−0.317%−$32 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.032% dearer against OKX than usual: you sell high and buy low (spread −0.043% now, against its 7-day average of −0.075%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CL-USDT-SWAP	92.850	−0.0020	get 0.0010% / 4h	2h 19m	$42.8M	$104.9M	50x
Short	Gate CL_USDT	92.810	−0.0118	pay 0.0118% / 8h	6h 19m	$20.9M	$53.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.043%Rate

Funding earned: −$20.54
Price spread: −0.043% → −0.075%: $3.23
Slippage, 4 orders: −$4.82
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$47.12
Costs to cover: 0.298%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Gate: 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 OKX live order book, 4 min ago	0.54 bp	5.5 bp −$6	6.7 bp −$67	13.3 bp −$1,334	doesn't fit
Sell Gate live order book, 4 min ago	0.54 bp	9.6 bp −$10	13.7 bp −$137	26.7 bp −$2,673	32.8 bp −$16.4K

CL on 35 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	−0.0504%	1h	92.720	−0.140%	$198K	$365K	15x	as long as short
Aster CLUSD1	−0.0301%	4h	92.870	+0.022%	$24.0M	$72.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0266%	4h	92.727	−0.132%	$53K	$631K	25x	as long as short
Binance CLUSDT	−0.0253%	4h	92.850	0.000%	$244.5M	$977.5M	100x	as long as short
Variational Omni CL	−0.0250%	4h	92.718	−0.142%	$13.3M	$11.0M	—	as long as short
Gate CL_USDTshort	−0.0118%	8h	92.810	−0.043%	$20.9M	$53.7M	100x
Nado WTI-PERP	−0.0065%	1h	92.878	+0.030%	$966K	$674K	10x	as long as short
tradeXYZ xyz:CL	−0.0051%	1h	92.852	+0.002%	$184.5M	$220.4M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.108%	$402K	$946K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0039%	1h	92.690	−0.172%	$3.5M	$5.7M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.792	−0.063%	$268K	$879K	25x	as long as short
QFEX CL-USD	−0.0033%	1h	92.810	−0.043%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAPlong	−0.0020%	4h	92.850	long leg	$42.8M	$104.9M	50x
dYdX WTI-USD	0.0000%	1h	92.836	−0.015%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.870	+0.022%	$26.9M	$82.3M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.857	+0.008%	$42.0M	$44.1M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	−0.065%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.846	−0.005%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.392	−0.493%	$5K	—	150x	as long as short
Aftermath Perps WTIUSD	+0.0021%	1h	92.790	−0.065%	$2K	$28K	5x	as long as short
Paradex CL-USD-PERP	+0.0028%	8h	92.820	−0.032%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	92.810	−0.043%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.870	+0.022%	$2.1M	$24.5M	10x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.951	+0.109%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.370	−0.517%	$726K	$3.0M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.860	+0.011%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.864	+0.015%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.751	−0.107%	$2.1M	$61K	20x	as long as short
KuCoin CLUSDTM	+0.0072%	4h	92.855	+0.005%	$7.2M	$2.3M	50x	as long as short
edgeX CLUSDC	+0.0089%	4h	92.738	−0.121%	$533K	$298K	30x	as long as short
Pacifica CL	+0.0100%	1h	92.834	−0.018%	$331K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.740	−0.118%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.720	−0.140%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.755	−0.102%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.83	+9.675%	$19K	$11K	30x	as long as short