Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0107%/8h= +11.7% APRpaid last 24h +0.007%

Price spread now: Bybit against Binance+0.032%7-day average −0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$230.232% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.361%−$36 on $10k

Price spread, last 2 days (all we have)−0.068%−$7 · spread now +0.032%, 7d avg −0.014%

Together, before fees−0.429%−$43 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bybit is 0.046% dearer against Binance than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.014%. Mind the row above: over the last 7 days funding on this pair cost −0.361%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CLUSDT	91.990	−0.0107	get 0.0053% / 4h	53m 28s	$244.4M	$1.11B	100x
Short	Bybit CLUSDT	92.020	0	get 0.0000% / 8h	53m 28s	$25.5M	$95.0M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now +0.032%Rate

Funding earned: $22.42
Price spread: +0.032% → −0.014%: $4.6
Slippage, 4 orders: −$2.17
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $3.85
Costs to cover: 0.232%
Break-even: 5.8 days

Slippage from Binance: live order book, 6 min ago; Bybit: live order book, 6 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 Binance live order book, 6 min ago	0.54 bp	5.5 bp −$6	5.5 bp −$55	7.5 bp −$747	22.4 bp −$11.2K
Sell Bybit live order book, 6 min ago	0.54 bp	6.0 bp −$6	7.7 bp −$77	17.0 bp −$1,704	116.9 bp −$58.5K

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
Kraken Futures PF_WTIOILUSD	−0.0451%	1h	92.013	+0.025%	$275K	$1.2M	25x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0293%	1h	92.000	+0.011%	$95K	$189K	15x	as long as short
GRVT CL_USDT_Perp	−0.0266%	4h	92.040	+0.054%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0197%	4h	92.010	+0.021%	$24.0M	$77.6M	20x	as long as short
Nado WTI-PERP	−0.0152%	1h	92.058	+0.074%	$923K	$746K	10x	as long as short
Lighter WTI	−0.0144%	1h	91.987	−0.004%	$11.1M	$10.9M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0110%	1h	91.960	−0.033%	$3.5M	$6.4M	20x	as long as short
Binance CLUSDTlong	−0.0107%	4h	91.990	long leg	$244.4M	$1.11B	100x
Paradex CL-USD-PERP	−0.0098%	8h	91.963	−0.029%	$15K	$367	5x	as long as short
tradeXYZ xyz:CL	−0.0092%	1h	92.008	+0.019%	$185.5M	$275.6M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni CL	−0.0071%	4h	92.063	+0.079%	$13.4M	$13.3M	—	as long as short
Bullet WTIOIL-USD	−0.0061%	1h	91.985	−0.006%	$19K	$241K	10x	as long as short
QFEX CL-USD	−0.0054%	1h	91.980	−0.011%	$2.4M	$2.6M	10x	as long as short
Pacifica CL	−0.0020%	1h	91.997	+0.008%	$332K	$578K	10x	as long as short
Gate CL_USDT	−0.0019%	8h	91.930	−0.065%	$21.3M	$57.4M	100x	as long as short
dYdX WTI-USD	0.0000%	1h	92.108	+0.128%	$8K	$3K	5x	as long as short
Bybit CLUSDTshort	0.0000%	8h	92.020	+0.032%	$25.5M	$95.0M	150x
OKX CL-USDT-SWAP	0.0000%	4h	91.980	−0.011%	$43.0M	$113.2M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.114	+0.134%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	91.984	−0.007%	$41.9M	$52.2M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.060	+0.076%	$37K	$101K	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	+0.043%	$399K	$998K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.595	−0.430%	$4K	—	150x	as long as short
Aftermath Perps WTIUSD	+0.0024%	1h	92.027	+0.040%	$2K	$29K	5x	as long as short
Extended WTI-USD	+0.0032%	1h	92.050	+0.065%	$2.0M	$27.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.050	+0.065%	$724K	$3.1M	40x	as long as short
Polymarket Perps WTIOIL-USD	+0.0043%	1h	91.989	−0.001%	$1.6M	$1.4M	20x	as long as short
Vest CL-PERP	+0.0046%	1h	92.060	+0.076%	—	$308K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	91.985	−0.006%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0052%	4h	92.091	+0.109%	$530K	$334K	30x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	91.995	+0.005%	$7.3M	$2.0M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.150	+0.174%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.964	−0.029%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	91.985	−0.006%	$76K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.28	+10.093%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.080	+0.098%	$4.0M	$1.4M	50x	as long as short