Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0172%/8h= +18.8% APRpaid last 24h +0.043%

Price spread now: Injective against Bybit+9.871%48s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Injective is 9.871% dearer against Bybit than usual: you sell high and buy low: +$987 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 48 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	91.920	0	get 0.0000% / 8h	1h 32m	$25.3M	$97.5M	150x
Short	Injective WTI/USDC PERP	100.99	0.0172	get 0.0022% / 1h	32m 28s	$19K	$18K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +9.871%Rate

Funding earned: $36.14
Price spread: +9.871% → 0.000%: $987.05
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $1,012.18
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 2 min ago; Injective: no order-book sample. Net counts fees only.

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, 2 min ago	0.54 bp	6.0 bp −$6	7.8 bp −$78	18.0 bp −$1,803	126.0 bp −$63.0K
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Lighter WTI	−0.0320%	1h	91.861	−0.064%	$11.0M	$11.2M	20x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0294%	1h	91.900	−0.022%	$95K	$260K	15x	as long as short
Aftermath Perps WTIUSD	−0.0205%	1h	91.877	−0.047%	$2K	$30K	5x	as long as short
Nado WTI-PERP	−0.0193%	1h	91.983	+0.068%	$922K	$761K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0187%	1h	91.840	−0.087%	$3.5M	$6.4M	20x	as long as short
tradeXYZ xyz:CL	−0.0166%	1h	91.925	+0.005%	$185.0M	$284.0M	20x	as long as short
Bullet WTIOIL-USD	−0.0153%	1h	91.877	−0.047%	$19K	$240K	10x	as long as short
Paradex CL-USD-PERP	−0.0099%	8h	91.877	−0.047%	$15K	$367	5x	as long as short
GRVT CL_USDT_Perp	−0.0064%	4h	91.841	−0.086%	$58K	$726K	25x	as long as short
Aster CLUSD1	−0.0053%	4h	91.908	−0.013%	$23.9M	$78.5M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended WTI-USD	−0.0048%	1h	91.960	+0.044%	$2.0M	$29.1M	10x	as long as short
ApeX Omni CLUSDT	−0.0035%	1h	91.930	+0.011%	$55K	$266K	50x	as long as short
Polymarket Perps WTIOIL-USD	−0.0024%	1h	91.897	−0.025%	$1.6M	$1.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	91.939	+0.021%	$8K	$3K	5x	as long as short
Binance CLUSDT	0.0000%	4h	91.890	−0.033%	$245.3M	$1.12B	100x	as long as short
Bybit CLUSDTlong	0.0000%	8h	91.920	long leg	$25.3M	$97.5M	150x
OKX CL-USDT-SWAP	0.0000%	4h	91.900	−0.022%	$43.1M	$114.1M	50x	as long as short
QFEX CL-USD	0.0000%	1h	91.870	−0.054%	$2.4M	$2.5M	10x	as long as short
Gate CL_USDT	0.0000%	8h	91.840	−0.087%	$21.2M	$59.0M	100x	as long as short
Bitget CLUSDT	0.0000%	4h	91.890	−0.033%	$42.0M	$56.9M	100x	as long as short
Variational Omni CL	0.0000%	4h	91.834	−0.093%	$13.4M	$13.6M	—	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.469	−0.491%	$4K	—	10x	as long as short
Phoenix WTIOIL	+0.0009%	1h	91.920	0.000%	$37K	$99K	20x	as long as short
StandX CL-USD	+0.0013%	1h	91.860	−0.065%	$722K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.000	+0.087%	—	$243K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	91.885	−0.038%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0087%	4h	91.881	−0.043%	$528K	$342K	30x	as long as short
Pacifica CL	+0.0100%	1h	91.910	−0.011%	$330K	$575K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	91.922	+0.002%	$7.3M	$2.1M	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.851	−0.075%	$4K	—	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0112%	1h	91.720	−0.218%	$384K	$1.2M	15x	as long as short
Injective WTI/USDC PERPshort	+0.0172%	1h	100.99	+9.871%	$19K	$18K	30x
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	91.865	−0.060%	$76K	—	29x	as long as short
BloFin CL-USDT	+0.0240%	4h	91.890	−0.033%	$4.0M	$1.5M	50x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0451%	1h	91.883	−0.040%	$259K	$1.2M	25x	as long as short
RISEx CL/USDC	+0.0977%	1h	92.013	+0.101%	$3.2M	$2.8M	20x	as long as short