Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0150%/8h= −16.4% APRpaid last 24h −0.029%

Price spread now: GRVT against Bybit+0.325%80s7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as 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−$260.262% of the position

Long on Bybit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 4 days (all we have)−0.299%−$30 · spread now +0.325%, 7d avg −0.002%

Together, before fees−0.220%+ Points / potential airdropGRVT: Active · farm board−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GRVT is 0.327% dearer against Bybit than usual: you sell high and buy low (spread +0.325% now, against its 7-day average of −0.002%): +$33 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 7.3 days. Mind the row above: over the last 7 days funding on this pair paid +0.079%, so the current rate has only just turned against you. The two prices were read 80 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	92.880	0	get 0.0000% / 8h	7h 54m	$27.0M	$80.4M	150x
Short	GRVT CL_USDT_Perp	93.182	−0.0150	pay 0.0075% / 4h	3h 54m	$75K	$614K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.325%Rate

Funding earned: −$31.5
Price spread: +0.325% → −0.002%: $32.7
Slippage, 4 orders: −$6.21
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$25.01
Costs to cover: 0.262%
Break-even: from the start

Slippage from Bybit: live order book, 5 min ago; GRVT: live order book, 44 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, 5 min ago	0.54 bp	6.0 bp −$6	7.7 bp −$77	16.6 bp −$1,663	90.5 bp −$45.2K
Sell GRVT live order book, 44 min ago	0.54 bp	6.1 bp −$6	9.5 bp −$95	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	−0.0611%	1h	92.830	−0.054%	$187K	$406K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0313%	1h	92.905	+0.027%	$271K	$930K	25x	as long as short
Aster CLUSD1	−0.0244%	4h	92.900	+0.021%	$24.7M	$61.5M	20x	as long as short
Gate CL_USDT	−0.0211%	8h	92.800	−0.086%	$23.3M	$48.6M	100x	as long as short
GRVT CL_USDT_Perpshort	−0.0150%	4h	93.182	+0.325%	$75K	$614K	25x
Binance CLUSDT	−0.0137%	4h	92.880	0.000%	$245.7M	$928.9M	100x	as long as short
Nado WTI-PERP	−0.0124%	1h	92.973	+0.101%	$952K	$612K	10x	as long as short
Variational Omni CL	−0.0122%	4h	92.970	+0.097%	$13.5M	$10.7M	—	as long as short
Bitget CLUSDT	−0.0096%	4h	92.859	−0.023%	$42.0M	$41.6M	100x	as long as short
tradeXYZ xyz:CL	−0.0090%	1h	92.901	+0.023%	$184.0M	$195.5M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps WTIUSD	−0.0083%	1h	93.039	+0.172%	$2K	$27K	5x	as long as short
OKX CL-USDT-SWAP	−0.0064%	4h	92.870	−0.011%	$42.4M	$103.0M	50x	as long as short
Ondo Perps WTI-USD.P	−0.0046%	1h	92.940	+0.065%	$3.6M	$5.3M	20x	as long as short
QFEX CL-USD	−0.0026%	1h	92.920	+0.043%	$2.3M	$2.5M	10x	as long as short
edgeX CLUSDC	−0.0020%	4h	93.079	+0.214%	$534K	$332K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	92.953	+0.079%	$8K	$3K	5x	as long as short
Bybit CLUSDTlong	0.0000%	8h	92.880	long leg	$27.0M	$80.4M	150x
RISEx CL/USDC	0.0000%	1h	92.984	+0.113%	$3.0M	$2.8M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.120	+0.258%	$37K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.890	+0.011%	$18K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.457	−0.455%	$5K	—	150x	as long as short
Lighter WTI	+0.0008%	1h	92.865	−0.016%	$11.2M	$8.6M	20x	as long as short
Paradex CL-USD-PERP	+0.0008%	8h	92.911	+0.033%	$16K	$367	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	93.160	+0.301%	$404K	$808K	15x	as long as short
Extended WTI-USD	+0.0032%	1h	92.910	+0.032%	$1.7M	$14.9M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.070	+0.205%	$734K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.920	+0.043%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.911	+0.033%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.875	−0.005%	$2.1M	$62K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.950	+0.075%	$346K	$587K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.886	+0.006%	$7.0M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.260	+0.409%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.851	−0.031%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0166% / S 0.0000%	1h	92.865	−0.016%	$85K	—	111x	as long as short
BloFin CL-USDT	+0.0175%	4h	92.930	+0.054%	$4.1M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.963%	$19K	$5K	30x	as long as short