Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0036%/8h= −4.0% APRpaid last 24h +0.006%

Price spread now: OKX against tradeXYZ+0.005%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$300.305% of the position

Long on tradeXYZ Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 7 days+0.030%+$3 · spread now +0.005%, 7d avg +0.022%

Together, before fees−0.028%+ Points / potential airdroptradeXYZ: Active · farm board−$3 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.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:CL	92.735	−0.0015	get 0.0002% / 1h	34m 02s	$184.1M	$192.2M	20x
Short	OKX CL-USDT-SWAP	92.740	−0.0051	pay 0.0026% / 4h	3h 34m	$42.5M	$102.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against tradeXYZ. 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 tradeXYZbpFee OKXbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$7.63
Price spread: +0.005% → +0.022%: −$1.7
Slippage, 4 orders: −$2.5
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee OKX: 5 bp × 2 orders: −$10
Net: −$39.83
Costs to cover: 0.305%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 5 min ago; OKX: live order book, 5 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 tradeXYZ live order book, 5 min ago	0.48 bp	9.5 bp −$10	9.7 bp −$97	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.54 bp	5.6 bp −$6	6.9 bp −$69	14.3 bp −$1,432	83.2 bp −$41.6K

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	−0.0613%	1h	92.590	−0.156%	$187K	$410K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0314%	1h	92.669	−0.072%	$270K	$931K	25x	as long as short
Aster CLUSD1	−0.0228%	4h	92.756	+0.023%	$24.8M	$60.6M	20x	as long as short
Gate CL_USDT	−0.0200%	8h	92.650	−0.092%	$23.4M	$49.6M	100x	as long as short
Binance CLUSDT	−0.0126%	4h	92.739	+0.004%	$245.0M	$934.8M	100x	as long as short
Variational Omni CL	−0.0113%	4h	92.780	+0.048%	$13.5M	$10.7M	—	as long as short
GRVT CL_USDT_Perp	−0.0104%	4h	92.790	+0.060%	$75K	$624K	25x	as long as short
Nado WTI-PERP	−0.0098%	1h	92.656	−0.085%	$948K	$602K	10x	as long as short
Bitget CLUSDT	−0.0080%	4h	92.749	+0.015%	$42.1M	$41.7M	100x	as long as short
Aftermath Perps WTIUSD	−0.0073%	1h	92.842	+0.115%	$2K	$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	−0.0051%	4h	92.740	+0.005%	$42.5M	$102.8M	50x
QFEX CL-USD	−0.0026%	1h	92.700	−0.038%	$2.3M	$2.4M	10x	as long as short
tradeXYZ xyz:CLlong	−0.0015%	1h	92.735	long leg	$184.1M	$192.2M	20x
edgeX CLUSDC	−0.0007%	4h	92.845	+0.119%	$542K	$342K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	92.748	+0.014%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.780	+0.049%	$27.4M	$81.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.726	−0.010%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.699	−0.039%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.334	−0.432%	$5K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.850	+0.124%	$37K	$39K	20x	as long as short
Paradex CL-USD-PERP	+0.0015%	8h	92.693	−0.046%	$15K	$367	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	92.610	−0.135%	$412K	$806K	15x	as long as short
Lighter WTI	+0.0032%	1h	92.674	−0.066%	$11.3M	$8.8M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.770	+0.038%	$1.7M	$14.3M	10x	as long as short
Ondo Perps WTI-USD.P	+0.0033%	1h	92.650	−0.092%	$3.6M	$5.2M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.880	+0.156%	$732K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.720	−0.016%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.730	−0.005%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.651	−0.091%	$2.1M	$69K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.711	−0.026%	$345K	$589K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.679	−0.060%	$7.0M	$2.5M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.860	+0.135%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.627	−0.116%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0166% / S −0.0007%	1h	92.685	−0.054%	$80K	—	111x	as long as short
BloFin CL-USDT	+0.0191%	4h	92.710	−0.027%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+10.135%	$19K	$5K	30x	as long as short