Funding arb · Price arb / RWA

CL

RWAAll CL markets →

LONGBybit▾Aftermath Perps −0.0966%Deribit −0.0305%edgeX −0.0091%Lighter −0.0064%RISEx −0.0035%QFEX −0.0002%Aster 0.0000%dYdX 0.0000%Binance 0.0000%Bybit 0.0000%OKX 0.0000%Gate 0.0000%KuCoin 0.0000%Bitget 0.0000%Variational Omni 0.0000%GRVT 0.0000%Bullet 0.0000%Nado +0.0003%Phoenix +0.0009%Extended +0.0032%Injective +0.0033%gTrade (Gains Network) +0.0037%StandX +0.0040%Vest Markets +0.0046%Popdex +0.0048%tradeXYZ +0.0050%Polymarket Perps +0.0050%SoDEX +0.0050%Ondo Perps +0.0050%Paradex +0.0054%Kraken Futures +0.0055%Coinbase International +0.0080%Pacifica +0.0100%ApeX Omni +0.0100%Aevo +0.0104%BloFin +0.0240%GMX +0.0464%

⇄⇅

SHORTAvantis▾BloFin +0.0240%GMX −0.0225%Aevo +0.0104%Pacifica +0.0100%ApeX Omni +0.0100%Coinbase International +0.0080%Kraken Futures +0.0055%Paradex +0.0054%Ondo Perps +0.0050%tradeXYZ +0.0050%Polymarket Perps +0.0050%SoDEX +0.0050%Popdex +0.0048%Vest Markets +0.0046%StandX +0.0040%Injective +0.0033%Extended +0.0032%Phoenix +0.0009%Nado +0.0003%Aster 0.0000%dYdX 0.0000%Binance 0.0000%OKX 0.0000%Gate 0.0000%KuCoin 0.0000%Bitget 0.0000%Variational Omni 0.0000%GRVT 0.0000%Bullet 0.0000%QFEX −0.0002%RISEx −0.0035%Lighter −0.0064%edgeX −0.0091%Deribit −0.0305%Avantis +0.0913%Aftermath Perps −0.0966%gTrade (Gains Network) +0.3572%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	BybitCLUSDT	90.031	0	0.0000% / 8h	7h 59m	$34.7M	$106.8M	150x	Long Bybit
SHORT	AvantisWTI/USD	90.012	L +0.0023S +0.0913	pay 0.0114% / 1h	59m 27s	$56K	—	25x	Short Avantis

Price gap−0.021%

Funding gap−0.0913% /8h

Both sides work against this direction now: funding costs $27 a day on $10k and the gap is 0.021% under zero (no 7-day history yet). Swap the legs.

The current funding rate is far below what this pair has been paying: over the last 7 days it paid −0.297% in total, about −0.0142%/8h on average.

Price and funding

Price spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Price spread?

Prices?

Funding?per 8h

PRICE SPREAD · 7D

Now−0.021%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

BybitAvantis

CL on 38 exchanges

lowest funding first

Before you open

1 ok · 3 to watch

• i
  Note: Order book unknown—

  No order-book sample for Avantis: its slippage is not counted.
• i
  Note: Margin at max leverage$67 + $400

  Bybit 150x, Avantis 25x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• !
  Watch: Payment intervals differ8h / 1h

  Payments land at different times. Close right after the slower leg pays.

  Long Bybit · 8h$0.00

  Short Avantis · 1h−$27.40

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: −$27.40Long Bybit: 3 payments, $0.00; short Avantis: 24 payments, −$27.40.
• i
  Note: No 7-day spread history−0.021%

  The gap cannot be compared with its average yet.
• !
  Watch: Short leg is thinner$56K vs $34.7M OI

  Avantis sets your exit cost. Check its book before closing.
• ✓
  OK: Points on a legAvantis Season 3

  Volume here counts toward the points program.
• !
  Watch: KYCBybit Yes · Avantis No

  Standard verification is mandatory for every product.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned−0.0142%/8h × 21 periods−$29.72

Price spread−0.021% → 0−$2.07

Slippage, 4 ordersno data for Avantis—

Fee Bybit bp × 2 orders−$11.00

Fee Avantis bp × 2 orders−$20.00

Net, fees only · 7 days · $10k−$62.79

Costs to cover0.310%Break-evennever at this rate

Slippage: Bybit: live order book, 1 min ago; Avantis: no order-book sample

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGBybit0.566.7 bp−$78.2 bp−$8217.3 bp−$1,73052.9 bp−$26.5K

SELL · SHORTAvantis—————

Closing costs about the same again.
Avantis: no data.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

CL news

posts that mention CL or Crude oil (WTI), from every exchangeSearch all news →

09-25 16:46	Kalshi	Other	BREAKING: WTI oil down nearly 3% in the last 1 hour as Al Jazeera reports US-Iran talks have entered "technical stage" @Kalshi on X ↗
09-25 13:31	Vest Markets	Other	At the open, $CL is down around 2%, with Iran proposing on Thursday to reopen the Strait of Hormuz within seven days. Negotiators are exploring a phased arrangement in which Tehran reopens the strait and Washington lifts its economic blockade of Iran, per Reuters. Trade $CL volatility with a Vest Capital funded account and access up to $25k in trading capital. @VestExchange on X ↗