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: BloFin against Bybit−0.004%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs+$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$290.289% of the position

Long on Bybit Short on BloFin

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)−0.209%−$21 · spread now −0.004%, 7d avg −0.011%

Together, before fees+0.491%+$49 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.011%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CLUSDT	91.864	0	get 0.0000% / 8h	2h 09m	$25.1M	$100.0M	150x
Short	BloFin CL-USDT	91.860	0.0240	get 0.0120% / 4h	2h 09m	$4.0M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.004%Rate

Funding earned: $50.4
Price spread: −0.004% → −0.011%: $0.71
Slippage, 4 orders: −$5.87
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BloFin: 6 bp × 2 orders: −$12
Net: $22.25
Costs to cover: 0.289%
Break-even: 3.9 days

Slippage from Bybit: live order book, 10 min ago; BloFin: live order book, 9 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, 10 min ago	0.55 bp	7.0 bp −$7	10.4 bp −$104	26.4 bp −$2,644	doesn't fit
Sell BloFin live order book, 9 min ago	1.09 bp	7.1 bp −$7	11.0 bp −$110	17.4 bp −$1,740	68.1 bp −$34.1K

CL on 35 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
QFEX CL-USD	−0.0019%	1h	91.880	+0.017%	$2.4M	$2.6M	10x	as long as short
Aster CLUSD1	0.0000%	4h	91.962	+0.106%	$24.5M	$77.2M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	91.854	−0.011%	$8K	$3K	5x	as long as short
Binance CLUSDT	0.0000%	4h	91.880	+0.017%	$246.1M	$1.14B	100x	as long as short
Bybit CLUSDTlong	0.0000%	8h	91.864	long leg	$25.1M	$100.0M	150x
OKX CL-USDT-SWAP	0.0000%	4h	91.870	+0.007%	$42.9M	$116.5M	50x	as long as short
Gate CL_USDT	0.0000%	8h	91.810	−0.059%	$21.2M	$63.4M	100x	as long as short
Bitget CLUSDT	0.0000%	4h	91.856	−0.009%	$42.1M	$67.5M	100x	as long as short
Variational Omni CL	0.0000%	4h	91.913	+0.053%	$13.6M	$16.1M	—	as long as short
GRVT CL_USDT_Perp	0.0000%	4h	91.915	+0.055%	$58K	$774K	25x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet WTIOIL-USD	0.0000%	1h	91.877	+0.014%	$17K	$241K	10x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	0.0000%	1h	91.900	+0.039%	$95K	$260K	15x	as long as short
Aftermath Perps WTIUSD	+0.0003%	1h	91.900	+0.040%	$2K	$31K	5x	as long as short
Phoenix WTIOIL	+0.0009%	1h	91.990	+0.137%	$33K	$99K	20x	as long as short
Paradex CL-USD-PERP	+0.0017%	8h	91.872	+0.009%	$15K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	91.838	−0.028%	$11.0M	$12.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	91.965	+0.110%	$2.0M	$29.6M	10x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	91.880	+0.017%	$17K	$18K	30x	as long as short
edgeX CLUSDC	+0.0035%	4h	91.900	+0.039%	$528K	$341K	30x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0040%	1h	91.890	+0.028%	$257K	$1.3M	25x	as long as short
StandX CL-USD	+0.0040%	1h	91.920	+0.061%	$725K	$3.1M	40x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0040%	1h	92.080	+0.235%	$393K	$1.3M	15x	as long as short
Vest CL-PERP	+0.0046%	1h	92.020	+0.170%	—	$243K	10x	as long as short
tradeXYZ xyz:CL	+0.0050%	1h	91.872	+0.009%	$182.4M	$289.7M	20x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	91.879	+0.016%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	91.874	+0.011%	$2.0M	$39K	20x	as long as short
Ondo Perps WTI-USD.P	+0.0050%	1h	91.860	−0.004%	$3.5M	$6.5M	20x	as long as short
Pacifica CL	+0.0100%	1h	91.882	+0.020%	$336K	$573K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	91.870	+0.007%	$7.3M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	91.930	+0.072%	$55K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.854	−0.011%	$4K	—	10x	as long as short
Nado WTI-PERP	+0.0189%	1h	91.865	+0.002%	$880K	$788K	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0212% / S −0.0127%	1h	91.875	+0.012%	$76K	—	29x	as long as short
BloFin CL-USDTshort	+0.0240%	4h	91.860	−0.004%	$4.0M	$1.5M	50x
RISEx CL/USDC	+0.0266%	1h	91.999	+0.146%	$3.2M	$2.7M	20x	as long as short