Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.072%

Price spread now: Bybit against BloFin+0.011%72s7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$260.263% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.700%−$70 on $10k

Price spread, last 3 days (all we have)+0.065%+$6 · spread now +0.011%, 7d avg +0.012%

Together, before fees−0.636%−$64 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.012%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin CL-USDT	92.020	0.0240	pay 0.0120% / 4h	48m 00s	$4.0M	$1.4M	50x
Short	Bybit CLUSDT	92.030	0	get 0.0000% / 8h	48m 00s	$25.6M	$94.8M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BloFin. 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 BloFinbpFee BybitbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$50.4
Price spread: +0.011% → +0.012%: −$0.16
Slippage, 4 orders: −$3.26
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$76.82
Costs to cover: 0.263%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 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 BloFin live order book, 5 min ago	1.09 bp	7.1 bp −$7	8.9 bp −$89	13.9 bp −$1,387	23.2 bp −$11.6K
Sell Bybit live order book, 1 min ago	0.54 bp	6.0 bp −$6	7.6 bp −$76	17.7 bp −$1,770	114.5 bp −$57.3K

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
Kraken Futures PF_WTIOILUSD	−0.0450%	1h	92.035	+0.016%	$275K	$1.2M	25x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0293%	1h	92.030	+0.011%	$96K	$189K	15x	as long as short
GRVT CL_USDT_Perp	−0.0282%	4h	92.000	−0.022%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0214%	4h	92.023	+0.004%	$23.9M	$77.6M	20x	as long as short
Nado WTI-PERP	−0.0171%	1h	92.080	+0.065%	$923K	$744K	10x	as long as short
Lighter WTI	−0.0136%	1h	92.018	−0.002%	$11.1M	$10.9M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0135%	1h	91.990	−0.033%	$3.5M	$6.4M	20x	as long as short
Binance CLUSDT	−0.0128%	4h	92.010	−0.011%	$245.2M	$1.10B	100x	as long as short
tradeXYZ xyz:CL	−0.0109%	1h	92.038	+0.020%	$185.6M	$275.7M	20x	as long as short
Paradex CL-USD-PERP	−0.0104%	8h	92.002	−0.019%	$15K	$367	5x	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	−0.0096%	4h	91.994	−0.029%	$13.4M	$13.0M	—	as long as short
Bullet WTIOIL-USD	−0.0075%	1h	92.015	−0.005%	$19K	$241K	10x	as long as short
QFEX CL-USD	−0.0054%	1h	92.000	−0.022%	$2.4M	$2.6M	10x	as long as short
Pacifica CL	−0.0020%	1h	92.017	−0.003%	$332K	$576K	10x	as long as short
Gate CL_USDT	−0.0020%	8h	91.960	−0.065%	$21.3M	$57.5M	100x	as long as short
dYdX WTI-USD	0.0000%	1h	92.108	+0.095%	$8K	$3K	5x	as long as short
Bybit CLUSDTshort	0.0000%	8h	92.030	+0.011%	$25.6M	$94.8M	150x
OKX CL-USDT-SWAP	0.0000%	4h	92.010	−0.011%	$43.1M	$113.1M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.129	+0.118%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.005	−0.016%	$41.9M	$51.8M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.080	+0.065%	$37K	$101K	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	+0.011%	$399K	$987K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.608	−0.448%	$4K	—	150x	as long as short
edgeX CLUSDC	+0.0009%	4h	92.033	+0.014%	$529K	$335K	30x	as long as short
Polymarket Perps WTIOIL-USD	+0.0026%	1h	92.018	−0.002%	$1.6M	$1.4M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.090	+0.076%	$2.0M	$27.5M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.000	−0.022%	$723K	$3.1M	40x	as long as short
Aftermath Perps WTIUSD	+0.0041%	1h	92.027	+0.008%	$2K	$29K	5x	as long as short
Vest CL-PERP	+0.0046%	1h	92.080	+0.065%	—	$308K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.015	−0.005%	$2.0M	$39K	20x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.015	−0.005%	$7.3M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.050	+0.033%	$55K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.978	−0.045%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	92.005	−0.016%	$76K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.28	+10.058%	$19K	$11K	30x	as long as short
BloFin CL-USDTlong	+0.0240%	4h	92.020	long leg	$4.0M	$1.4M	50x