Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against Bybit+0.074%49s7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$3as 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−$530.534% of the position

Long on Bybit Short on ApeX Omni

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)−0.066%−$7 · spread now +0.074%, 7d avg +0.001%

Together, before fees+0.437%+$44 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 ApeX Omni is 0.073% dearer against Bybit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.001%. The two prices were read 49 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	Bybit CLUSDT	92.901	0	get 0.0000% / 8h	5h 12m	$26.5M	$81.0M	150x
Short	ApeX Omni CLUSDT	92.970	0.0100	get 0.0013% / 1h	12m 40s	$56K	$265K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now +0.074%Rate

Funding earned: $21
Price spread: +0.074% → +0.001%: $7.29
Slippage, 4 orders: −$32.41
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$25.12
Costs to cover: 0.534%
Break-even: 15.4 days

Slippage from Bybit: live order book, 1 min ago; ApeX Omni: live order book, 49 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 Bybit live order book, 1 min ago	0.54 bp	6.0 bp −$6	7.2 bp −$72	15.3 bp −$1,529	90.2 bp −$45.1K
Sell ApeX Omni live order book, 49 min ago	8.62 bp	20.2 bp −$20	210.6 bp −$2,106	doesn't fit	doesn't fit

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	−0.0718%	1h	92.880	−0.023%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0257%	4h	92.895	−0.006%	$24.0M	$67.9M	20x	as long as short
GRVT CL_USDT_Perp	−0.0238%	4h	92.910	+0.009%	$53K	$635K	25x	as long as short
Binance CLUSDT	−0.0205%	4h	92.895	−0.007%	$244.7M	$952.3M	100x	as long as short
Variational Omni CL	−0.0195%	4h	92.857	−0.047%	$13.5M	$11.2M	—	as long as short
Ondo Perps WTI-USD.P	−0.0162%	1h	92.860	−0.044%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0155%	1h	92.980	+0.085%	$961K	$658K	10x	as long as short
OKX CL-USDT-SWAP	−0.0075%	4h	92.890	−0.012%	$42.9M	$102.0M	50x	as long as short
Gate CL_USDT	−0.0071%	8h	92.840	−0.066%	$20.9M	$53.0M	100x	as long as short
tradeXYZ xyz:CL	−0.0071%	1h	92.891	−0.011%	$184.4M	$217.5M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended WTI-USD	−0.0064%	1h	92.940	+0.042%	$2.1M	$22.3M	10x	as long as short
Aftermath Perps WTIUSD	−0.0063%	1h	92.897	−0.005%	$2K	$27K	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.163%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	92.890	−0.012%	$2.5M	$1.7M	10x	as long as short
edgeX CLUSDC	−0.0015%	4h	92.902	+0.001%	$529K	$303K	30x	as long as short
Lighter WTI	0.0000%	1h	92.901	0.000%	$11.2M	$10.5M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.937	+0.038%	$8K	$3K	5x	as long as short
Bybit CLUSDTlong	0.0000%	8h	92.901	long leg	$26.5M	$81.0M	150x
Bitget CLUSDT	0.0000%	4h	92.884	−0.018%	$42.1M	$43.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.950	+0.053%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.918	+0.018%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.499	−0.433%	$5K	—	150x	as long as short
KuCoin CLUSDTM	+0.0010%	4h	92.877	−0.026%	$7.3M	$2.3M	50x	as long as short
Paradex CL-USD-PERP	+0.0011%	8h	92.889	−0.013%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	92.870	−0.033%	$732K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.940	+0.042%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.926	+0.027%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.905	+0.004%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	92.988	+0.093%	$3.1M	$2.9M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.893	−0.008%	$331K	$619K	10x	as long as short
ApeX Omni CLUSDTshort	+0.0100%	1h	92.970	+0.074%	$56K	$265K	50x
Aevo WTIOIL-PERP	+0.0104%	1h	92.874	−0.029%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.939	+0.041%	$274K	$872K	25x	as long as short
BloFin CL-USDT	+0.0168%	4h	92.900	−0.001%	$4.1M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.915	+0.015%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.10	+9.900%	$19K	$11K	30x	as long as short