Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0017%/8h= −1.9% APRpaid last 24h −0.017%

Price spread now: Nado against Bybit−0.054%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$230.231% of the position

Long on Bybit Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.023%−$2 on $10k

Price spread, last 7 days+0.040%+$4 · spread now −0.054%, 7d avg +0.002%

Together, before fees+0.018%+ Points / potential airdropNado: Active · farm board+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Nado 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 +0.002%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CLUSDT	93.595	0	get 0.0000% / 8h	1h 57m	$27.2M	$79.5M	150x
Short	Nado WTI-PERP	93.544	−0.0017	pay 0.0002% / 1h	57m 56s	$971K	$630K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.054%Rate

Funding earned: −$3.67
Price spread: −0.054% → +0.002%: −$5.63
Slippage, 4 orders: −$5.11
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$32.41
Costs to cover: 0.231%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Nado: live order book, 50 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	7.5 bp −$8	8.6 bp −$86	16.3 bp −$1,631	82.3 bp −$41.1K
Sell Nado live order book, 50 min ago	0.05 bp	4.5 bp −$5	8.4 bp −$84	28.1 bp −$2,808	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	−0.0391%	1h	93.550	−0.048%	$197K	$379K	15x	as long as short
Aster CLUSD1	−0.0273%	4h	93.592	−0.003%	$24.5M	$64.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0272%	4h	93.479	−0.124%	$58K	$629K	25x	as long as short
Binance CLUSDT	−0.0164%	4h	93.578	−0.019%	$246.5M	$930.6M	100x	as long as short
Variational Omni CL	−0.0158%	4h	93.468	−0.136%	$13.4M	$10.8M	—	as long as short
Aftermath Perps WTIUSD	−0.0146%	1h	93.481	−0.122%	$2K	$26K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0137%	1h	93.568	−0.029%	$286K	$959K	25x	as long as short
Bitget CLUSDT	−0.0118%	4h	93.570	−0.027%	$42.2M	$42.8M	100x	as long as short
Gate CL_USDT	−0.0085%	8h	93.490	−0.112%	$22.2M	$48.0M	100x	as long as short
tradeXYZ xyz:CL	−0.0038%	1h	93.560	−0.037%	$184.9M	$212.5M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAP	−0.0034%	4h	93.570	−0.027%	$42.7M	$102.1M	50x	as long as short
QFEX CL-USD	−0.0023%	1h	93.520	−0.080%	$2.3M	$2.5M	10x	as long as short
edgeX CLUSDC	−0.0023%	4h	93.451	−0.154%	$525K	$307K	30x	as long as short
Ondo Perps WTI-USD.P	−0.0021%	1h	93.460	−0.144%	$3.5M	$5.4M	20x	as long as short
Nado WTI-PERPshort	−0.0017%	1h	93.544	−0.054%	$971K	$630K	10x
Coinbase International WTIOIL-PERP-INTX	−0.0008%	1h	93.500	−0.102%	$404K	$931K	15x	as long as short
dYdX WTI-USD	0.0000%	1h	93.500	−0.101%	$8K	$3K	5x	as long as short
Bybit CLUSDTlong	0.0000%	8h	93.595	long leg	$27.2M	$79.5M	150x
RISEx CL/USDC	0.0000%	1h	93.545	−0.053%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.480	−0.123%	$38K	$38K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.556	−0.042%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.113	−0.515%	$5K	—	150x	as long as short
Lighter WTI	+0.0016%	1h	93.561	−0.036%	$11.3M	$9.6M	20x	as long as short
Paradex CL-USD-PERP	+0.0024%	8h	93.484	−0.119%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.600	+0.005%	$2.0M	$16.4M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.470	−0.134%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.540	−0.059%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.535	−0.064%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.570	−0.027%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.505	−0.096%	$332K	$577K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.586	−0.010%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.540	−0.059%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.539	−0.060%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0206%	4h	93.480	−0.123%	$4.0M	$979K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.64	+9.669%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0242% / S −0.0176%	1h	93.585	−0.011%	$84K	—	111x	as long as short