Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Bybit against ApeX Omni+0.054%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$520.518% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.503%−$50 on $10k

Price spread, last 4 days (all we have)−0.071%−$7 · spread now +0.054%, 7d avg −0.003%

Together, before fees−0.574%−$57 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.057% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.054% now, against its 7-day average of −0.003%): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 46 hours. At the pace of the last 7 days (−0.503% in total) that is about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni CLUSDT	92.720	0.0100	pay 0.0013% / 1h	23m 00s	$56K	$265K	50x
Short	Bybit CLUSDT	92.770	0	get 0.0000% / 8h	6h 23m	$26.8M	$82.5M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against ApeX Omni. 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 ApeX OmnibpFee BybitbpOrdersPrice spread, now +0.054%Rate

Funding earned: −$21
Price spread: +0.054% → −0.003%: $5.74
Slippage, 4 orders: −$30.75
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$67.01
Costs to cover: 0.518%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 44 min ago; Bybit: live order book, 1 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 ApeX Omni live order book, 44 min ago	8.63 bp	19.3 bp −$19	176.9 bp −$1,769	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.54 bp	6.5 bp −$6	7.6 bp −$76	15.8 bp −$1,583	103.0 bp −$51.5K

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	−0.0505%	1h	92.700	−0.022%	$198K	$365K	15x	as long as short
Aster CLUSD1	−0.0308%	4h	92.770	+0.054%	$23.9M	$73.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0266%	4h	92.740	+0.022%	$53K	$631K	25x	as long as short
Binance CLUSDT	−0.0259%	4h	92.756	+0.039%	$244.1M	$980.0M	100x	as long as short
Variational Omni CL	−0.0256%	4h	92.710	−0.011%	$13.3M	$11.1M	—	as long as short
Gate CL_USDT	−0.0124%	8h	92.700	−0.022%	$20.8M	$53.6M	100x	as long as short
Nado WTI-PERP	−0.0057%	1h	92.788	+0.074%	$965K	$677K	10x	as long as short
tradeXYZ xyz:CL	−0.0054%	1h	92.763	+0.046%	$184.4M	$220.4M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	+0.032%	$402K	$946K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0041%	1h	92.720	0.000%	$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	92.777	+0.061%	$270K	$877K	25x	as long as short
QFEX CL-USD	−0.0033%	1h	92.730	+0.011%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0018%	4h	92.740	+0.022%	$42.7M	$105.4M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.757	+0.040%	$8K	$3K	5x	as long as short
Bybit CLUSDTshort	0.0000%	8h	92.770	+0.054%	$26.8M	$82.5M	150x
Bitget CLUSDT	0.0000%	4h	92.752	+0.035%	$41.9M	$44.2M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.780	+0.065%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.738	+0.019%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.292	−0.462%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0027%	8h	92.719	−0.001%	$16K	$367	5x	as long as short
Aftermath Perps WTIUSD	+0.0027%	1h	92.787	+0.072%	$2K	$28K	5x	as long as short
Lighter WTI	+0.0032%	1h	92.743	+0.025%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.790	+0.075%	$2.1M	$24.6M	10x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.859	+0.149%	$3.3M	$2.7M	20x	as long as short
edgeX CLUSDC	+0.0038%	4h	92.754	+0.036%	$533K	$297K	30x	as long as short
StandX CL-USD	+0.0040%	1h	92.340	−0.410%	$726K	$3.0M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.760	+0.043%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.746	+0.028%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.735	+0.016%	$2.1M	$61K	20x	as long as short
KuCoin CLUSDTM	+0.0074%	4h	92.767	+0.051%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.738	+0.019%	$331K	$618K	10x	as long as short
ApeX Omni CLUSDTlong	+0.0100%	1h	92.720	long leg	$56K	$265K	50x
Aevo WTIOIL-PERP	+0.0104%	1h	92.697	−0.025%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.735	+0.016%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.83	+9.829%	$19K	$11K	30x	as long as short