Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h −0.017%

Price spread now: OKX against RISEx−0.075%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$200.198% of the position

Long on RISEx Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.153%−$15 on $10k

Price spread, last 7 days+0.033%+$3 · spread now −0.075%, 7d avg −0.038%

Together, before fees−0.120%−$12 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 0.037% cheaper against RISEx than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.038%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx CL/USDC	92.960	0	get 0.0000% / 1h	10m 39s	$3.1M	$2.9M	20x
Short	OKX CL-USDT-SWAP	92.890	−0.0055	pay 0.0028% / 4h	10m 39s	$42.4M	$102.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against RISEx. 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 RISExbpFee OKXbpOrdersPrice spread, now −0.075%Rate

Funding earned: −$11.55
Price spread: −0.075% → −0.038%: −$3.72
Slippage, 4 orders: −$3.76
Fee RISEx: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$35.03
Costs to cover: 0.198%
Break-even: never at this rate

Slippage from RISEx: live order book, 3 min ago; OKX: live order book, 3 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 RISEx live order book, 3 min ago	0.75 bp	3.8 bp −$4	4.5 bp −$45	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.54 bp	5.5 bp −$6	6.9 bp −$69	14.0 bp −$1,397	118.7 bp −$59.3K

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	−0.0611%	1h	92.860	−0.107%	$198K	$370K	15x	as long as short
Aster CLUSD1	−0.0270%	4h	92.903	−0.061%	$24.0M	$66.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0242%	4h	93.000	+0.044%	$64K	$648K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0196%	1h	92.905	−0.059%	$273K	$874K	25x	as long as short
Binance CLUSDT	−0.0188%	4h	92.900	−0.064%	$244.5M	$945.3M	100x	as long as short
Variational Omni CL	−0.0179%	4h	92.888	−0.077%	$13.5M	$10.8M	—	as long as short
Bitget CLUSDT	−0.0126%	4h	92.879	−0.087%	$42.0M	$43.6M	100x	as long as short
tradeXYZ xyz:CL	−0.0112%	1h	92.885	−0.080%	$187.8M	$217.6M	20x	as long as short
Aftermath Perps WTIUSD	−0.0104%	1h	92.973	+0.014%	$2K	$26K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0090%	1h	92.850	−0.118%	$3.5M	$5.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0076%	4h	93.007	+0.051%	$530K	$301K	30x	as long as short
OKX CL-USDT-SWAPshort	−0.0055%	4h	92.890	−0.075%	$42.4M	$102.7M	50x
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.226%	$402K	$944K	15x	as long as short
Gate CL_USDT	−0.0047%	8h	92.830	−0.139%	$20.8M	$52.2M	100x	as long as short
QFEX CL-USD	−0.0043%	1h	92.900	−0.064%	$2.3M	$1.8M	10x	as long as short
Nado WTI-PERP	−0.0029%	1h	92.953	−0.007%	$963K	$648K	10x	as long as short
KuCoin CLUSDTM	−0.0028%	4h	92.903	−0.061%	$7.1M	$2.4M	50x	as long as short
Lighter WTI	0.0000%	1h	92.892	−0.073%	$11.2M	$10.6M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.937	−0.025%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.890	−0.075%	$26.6M	$80.4M	150x	as long as short
RISEx CL/USDClong	0.0000%	1h	92.960	long leg	$3.1M	$2.9M	20x
Phoenix WTIOIL	0.0000%	1h	92.950	−0.010%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.915	−0.048%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.463	−0.534%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0008%	8h	92.875	−0.091%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	92.940	−0.021%	$2.0M	$20.3M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.900	−0.064%	$734K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.920	−0.043%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.906	−0.058%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.894	−0.071%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0068%	1h	92.898	−0.066%	$330K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.030	+0.076%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.871	−0.095%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0186%	4h	92.930	−0.032%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0216% / S −0.0143%	1h	92.895	−0.070%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.25	+9.995%	$19K	$11K	30x	as long as short