Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h −0.014%

Price spread now: tradeXYZ against OKX−0.015%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$300.299% of the position

Long on OKX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 7 days−0.006%−$1 · spread now −0.015%, 7d avg −0.022%

Together, before fees+0.048%+ Points / potential airdroptradeXYZ: Active · farm board+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.022%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.054%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CL-USDT-SWAP	92.890	−0.0012	get 0.0006% / 4h	2h 13m	$42.9M	$104.9M	50x
Short	tradeXYZ xyz:CL	92.876	−0.0043	pay 0.0005% / 1h	13m 10s	$184.5M	$220.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$6.54
Price spread: −0.015% → −0.022%: $0.71
Slippage, 4 orders: −$1.89
Fee OKX: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$35.72
Costs to cover: 0.299%
Break-even: never at this rate

Slippage from OKX: live order book, 6 min ago; tradeXYZ: live order book, 7 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, 6 min ago	0.54 bp	5.5 bp −$6	6.7 bp −$67	13.5 bp −$1,354	doesn't fit
Sell tradeXYZ live order book, 7 min ago	0.16 bp	9.3 bp −$9	9.5 bp −$95	doesn't fit	doesn't fit

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	−0.0288%	1h	92.860	−0.032%	$198K	$365K	15x	as long as short
Aster CLUSD1	−0.0280%	4h	92.904	+0.016%	$24.0M	$72.2M	20x	as long as short
GRVT CL_USDT_Perp	−0.0242%	4h	92.921	+0.034%	$53K	$631K	25x	as long as short
Variational Omni CL	−0.0240%	4h	92.898	+0.008%	$13.4M	$11.0M	—	as long as short
Binance CLUSDT	−0.0239%	4h	92.890	0.000%	$244.9M	$974.7M	100x	as long as short
Gate CL_USDT	−0.0101%	8h	92.830	−0.065%	$20.9M	$54.0M	100x	as long as short
edgeX CLUSDC	−0.0090%	4h	92.933	+0.046%	$529K	$304K	30x	as long as short
Nado WTI-PERP	−0.0069%	1h	92.962	+0.077%	$964K	$675K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.151%	$402K	$946K	15x	as long as short
tradeXYZ xyz:CLshort	−0.0043%	1h	92.876	−0.015%	$184.5M	$220.6M	20x

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	92.916	+0.028%	$273K	$884K	25x	as long as short
QFEX CL-USD	−0.0033%	1h	92.850	−0.043%	$2.5M	$1.7M	10x	as long as short
Ondo Perps WTI-USD.P	−0.0024%	1h	92.900	+0.011%	$3.5M	$5.7M	20x	as long as short
OKX CL-USDT-SWAPlong	−0.0012%	4h	92.890	long leg	$42.9M	$104.9M	50x
dYdX WTI-USD	0.0000%	1h	92.911	+0.023%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.905	+0.016%	$27.0M	$82.1M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.882	−0.009%	$42.0M	$43.9M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.920	+0.032%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.879	−0.012%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.420	−0.506%	$5K	—	150x	as long as short
Aftermath Perps WTIUSD	+0.0012%	1h	92.892	+0.002%	$2K	$28K	5x	as long as short
Paradex CL-USD-PERP	+0.0031%	8h	92.860	−0.032%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	92.883	−0.008%	$11.2M	$10.4M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.900	+0.011%	$2.1M	$24.2M	10x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.987	+0.104%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.370	−0.560%	$726K	$3.0M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.900	+0.011%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.874	−0.017%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.880	−0.011%	$2.1M	$61K	20x	as long as short
KuCoin CLUSDTM	+0.0084%	4h	92.888	−0.002%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.914	+0.026%	$332K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.000	+0.118%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.844	−0.049%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.875	−0.016%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.04	+9.846%	$19K	$11K	30x	as long as short