Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0095%/8h= −10.4% APRpaid last 24h −0.021%

Price spread now: OKX against SoDEX−0.008%7-day average +0.015% · 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−$51as in the Price arb table

costs, in and out, $10k−$490.489% of the position

Long on SoDEX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.091%−$9 on $10k

Price spread, last 4 days (all we have)+0.361%+$36 · spread now −0.008%, 7d avg +0.015%

Together, before fees+0.270%+$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and OKX is 0.022% cheaper against SoDEX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.015%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX CL-USD	92.467	0.0050	pay 0.0006% / 1h	20m 36s	$2.1M	$69K	20x
Short	OKX CL-USDT-SWAP	92.460	−0.0045	pay 0.0023% / 4h	3h 20m	$42.5M	$102.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against SoDEX. 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 SoDEXbpFee OKXbpOrdersPrice spread, now −0.008%Rate

Funding earned: −$19.97
Price spread: −0.008% → +0.015%: −$2.24
Slippage, 4 orders: −$30.88
Fee SoDEX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$71.09
Costs to cover: 0.489%
Break-even: never at this rate

Slippage from SoDEX: 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 SoDEX live order book, 3 min ago	0.54 bp	18.7 bp −$19	87.1 bp −$871	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.54 bp	5.7 bp −$6	7.1 bp −$71	14.4 bp −$1,443	79.6 bp −$39.8K

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	−0.0614%	1h	92.460	−0.008%	$187K	$412K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0315%	1h	92.487	+0.021%	$268K	$948K	25x	as long as short
Aster CLUSD1	−0.0216%	4h	92.543	+0.082%	$24.9M	$59.7M	20x	as long as short
Binance CLUSDT	−0.0123%	4h	92.494	+0.029%	$245.6M	$930.7M	100x	as long as short
Variational Omni CL	−0.0105%	4h	92.432	−0.038%	$13.5M	$10.7M	—	as long as short
Gate CL_USDT	−0.0103%	8h	92.420	−0.051%	$23.7M	$50.4M	100x	as long as short
Nado WTI-PERP	−0.0100%	1h	92.541	+0.080%	$946K	$596K	10x	as long as short
GRVT CL_USDT_Perp	−0.0080%	4h	92.622	+0.167%	$74K	$611K	25x	as long as short
Bitget CLUSDT	−0.0076%	4h	92.467	0.000%	$42.1M	$41.9M	100x	as long as short
Aftermath Perps WTIUSD	−0.0066%	1h	92.698	+0.249%	$1K	$27K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAPshort	−0.0045%	4h	92.460	−0.008%	$42.5M	$102.7M	50x
edgeX CLUSDC	−0.0031%	4h	92.632	+0.179%	$540K	$342K	30x	as long as short
QFEX CL-USD	−0.0026%	1h	92.480	+0.014%	$2.3M	$2.5M	10x	as long as short
tradeXYZ xyz:CL	−0.0010%	1h	92.517	+0.054%	$183.8M	$190.9M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.579	+0.121%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.530	+0.068%	$27.5M	$82.8M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.555	+0.095%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.475	+0.009%	$19K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.158	−0.334%	$5K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.660	+0.209%	$37K	$39K	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	92.590	+0.133%	$427K	$869K	15x	as long as short
Paradex CL-USD-PERP	+0.0017%	8h	92.477	+0.011%	$15K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	92.502	+0.038%	$11.3M	$8.9M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.530	+0.068%	$1.7M	$14.0M	10x	as long as short
Ondo Perps WTI-USD.P	+0.0032%	1h	92.470	+0.003%	$3.6M	$5.2M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.590	+0.133%	$728K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.500	+0.036%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.555	+0.095%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USDlong	+0.0050%	1h	92.467	long leg	$2.1M	$69K	20x
Pacifica CL	+0.0100%	1h	92.508	+0.044%	$344K	$584K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.512	+0.049%	$7.0M	$2.5M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.710	+0.263%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.452	−0.016%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0165% / S −0.0007%	1h	92.465	−0.002%	$80K	—	111x	as long as short
BloFin CL-USDT	+0.0195%	4h	92.520	+0.057%	$4.1M	$999K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+10.455%	$19K	$5K	30x	as long as short