Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0024%/8h= +2.6% APRpaid last 24h +0.008%

Price spread now: Extended against Bybit+0.026%7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs+$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$190.191% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.396%+$40 on $10k

Price spread, last 7 days−0.056%−$6 · spread now +0.026%, 7d avg −0.021%

Together, before fees+0.340%+ Points / potential airdropExtended: Active · farm board+$34 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Extended is 0.047% dearer against Bybit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CLUSDT	93.356	0	get 0.0000% / 8h	3h 00m	$26.9M	$80.0M	150x
Short	Extended WTI-USD	93.380	0.0024	get 0.0003% / 1h	0m 09s	$2.0M	$18.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.026%Rate

Funding earned: $5.04
Price spread: +0.026% → −0.021%: $4.69
Slippage, 4 orders: −$3.07
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$9.34
Costs to cover: 0.191%
Break-even: 20.0 days

Slippage from Bybit: live order book, 4 min ago; Extended: live order book, 4 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, 4 min ago	0.54 bp	6.2 bp −$6	7.6 bp −$76	16.4 bp −$1,635	83.5 bp −$41.7K
Sell Extended live order book, 4 min ago	0.32 bp	3.6 bp −$4	6.3 bp −$63	24.8 bp −$2,485	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	−0.0714%	1h	93.310	−0.049%	$198K	$372K	15x	as long as short
GRVT CL_USDT_Perp	−0.0332%	4h	93.330	−0.027%	$58K	$654K	25x	as long as short
Aster CLUSD1	−0.0287%	4h	93.370	+0.015%	$24.3M	$66.1M	20x	as long as short
Binance CLUSDT	−0.0190%	4h	93.342	−0.015%	$246.4M	$939.0M	100x	as long as short
Variational Omni CL	−0.0176%	4h	93.299	−0.061%	$13.3M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0142%	1h	93.350	−0.006%	$2K	$26K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0130%	1h	93.250	−0.114%	$3.5M	$5.3M	20x	as long as short
Bitget CLUSDT	−0.0130%	4h	93.337	−0.020%	$42.1M	$43.2M	100x	as long as short
Nado WTI-PERP	−0.0104%	1h	93.380	+0.025%	$967K	$625K	10x	as long as short
edgeX CLUSDC	−0.0097%	4h	93.350	−0.006%	$525K	$306K	30x	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	−0.0072%	8h	93.280	−0.081%	$21.5M	$51.6M	100x	as long as short
OKX CL-USDT-SWAP	−0.0064%	4h	93.330	−0.028%	$42.7M	$103.1M	50x	as long as short
tradeXYZ xyz:CL	−0.0063%	1h	93.350	−0.006%	$184.7M	$217.2M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.356	0.000%	$282K	$961K	25x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	−0.210%	$403K	$929K	15x	as long as short
QFEX CL-USD	−0.0033%	1h	93.320	−0.039%	$2.3M	$2.0M	10x	as long as short
Paradex CL-USD-PERP	−0.0016%	8h	93.311	−0.048%	$16K	$367	5x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.360	+0.004%	$37K	$41K	20x	as long as short
Lighter WTI	0.0000%	1h	93.346	−0.011%	$11.2M	$10.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.329	−0.028%	$8K	$3K	5x	as long as short
Bybit CLUSDTlong	0.0000%	8h	93.356	long leg	$26.9M	$80.0M	150x
RISEx CL/USDC	0.0000%	1h	93.381	+0.026%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.337	−0.020%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.897	−0.492%	$5K	—	150x	as long as short
Extended WTI-USDshort	+0.0024%	1h	93.380	+0.026%	$2.0M	$18.2M	10x
KuCoin CLUSDTM	+0.0026%	4h	93.364	+0.009%	$7.1M	$2.4M	50x	as long as short
StandX CL-USD	+0.0040%	1h	93.310	−0.049%	$738K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.330	−0.028%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.323	−0.035%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.336	−0.021%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.325	−0.033%	$331K	$579K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.400	+0.047%	$54K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.306	−0.054%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0175%	4h	93.320	−0.039%	$4.0M	$987K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.37	+9.657%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0225% / S −0.0153%	1h	93.335	−0.022%	$81K	—	111x	as long as short