Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0132%/8h= −14.5% APRpaid last 24h −0.008%

Price spread now: Bitget against Bybit−0.044%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$270.275% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.145%+$15 on $10k

Price spread, last 7 days+0.057%+$6 · spread now −0.044%, 7d avg +0.012%

Together, before fees+0.203%+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bitget is 0.056% cheaper against Bybit than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.012%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.145%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CLUSDT	93.480	0	get 0.0000% / 8h	2h 22m	$27.1M	$79.6M	150x
Short	Bitget CLUSDT	93.439	−0.0132	pay 0.0066% / 4h	2h 22m	$42.1M	$42.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.044%Rate

Funding earned: −$27.72
Price spread: −0.044% → +0.012%: −$5.6
Slippage, 4 orders: −$4.46
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$60.78
Costs to cover: 0.275%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Bitget: 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 Bybit live order book, 1 min ago	0.54 bp	6.0 bp −$6	7.2 bp −$72	14.6 bp −$1,459	87.5 bp −$43.7K
Sell Bitget live order book, 1 min ago	0.48 bp	7.4 bp −$7	9.4 bp −$94	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	−0.0499%	1h	93.400	−0.086%	$197K	$375K	15x	as long as short
GRVT CL_USDT_Perp	−0.0304%	4h	93.510	+0.032%	$58K	$629K	25x	as long as short
Aster CLUSD1	−0.0298%	4h	93.483	+0.004%	$24.4M	$65.0M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.429	−0.055%	$285K	$958K	25x	as long as short
Binance CLUSDT	−0.0187%	4h	93.457	−0.024%	$246.2M	$933.1M	100x	as long as short
Variational Omni CL	−0.0182%	4h	93.450	−0.033%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0152%	1h	93.393	−0.093%	$2K	$26K	5x	as long as short
Bitget CLUSDTshort	−0.0132%	4h	93.439	−0.044%	$42.1M	$42.8M	100x
Nado WTI-PERP	−0.0129%	1h	93.483	+0.003%	$967K	$615K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0110%	1h	93.340	−0.150%	$3.5M	$5.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0079%	8h	93.380	−0.107%	$21.9M	$49.8M	100x	as long as short
edgeX CLUSDC	−0.0074%	4h	93.495	+0.016%	$526K	$305K	30x	as long as short
tradeXYZ xyz:CL	−0.0066%	1h	93.467	−0.014%	$184.9M	$213.4M	20x	as long as short
OKX CL-USDT-SWAP	−0.0056%	4h	93.450	−0.032%	$42.6M	$102.7M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.500	+0.021%	$404K	$931K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.420	−0.064%	$2.3M	$2.4M	10x	as long as short
dYdX WTI-USD	0.0000%	1h	93.482	+0.002%	$8K	$3K	5x	as long as short
Bybit CLUSDTlong	0.0000%	8h	93.480	long leg	$27.1M	$79.6M	150x
RISEx CL/USDC	0.0000%	1h	93.483	+0.003%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.550	+0.075%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.424	−0.060%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.973	−0.542%	$5K	—	150x	as long as short
Lighter WTI	+0.0008%	1h	93.469	−0.012%	$11.2M	$9.9M	20x	as long as short
Paradex CL-USD-PERP	+0.0008%	8h	93.385	−0.101%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.450	−0.032%	$2.0M	$17.2M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.450	−0.032%	$740K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.430	−0.053%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.420	−0.065%	$332K	$576K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.421	−0.063%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.420	−0.064%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0066%	4h	93.445	−0.037%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.410	−0.075%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.399	−0.087%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0184%	4h	93.450	−0.032%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.60	+9.759%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0237% / S −0.0170%	1h	93.425	−0.059%	$84K	—	111x	as long as short