Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0022%/8h= −2.4% APRpaid last 24h −0.010%

Price spread now: Ondo Perps against Bybit−0.072%7-day average −0.055% · you buy dearer than you sell

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

Long on Bybit Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.378%+$38 on $10k

Price spread, last 7 days+0.246%+$25 · spread now −0.072%, 7d avg −0.055%

Together, before fees+0.624%+ Points / potential airdropOndo Perps: Active · farm board+$62 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.055%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.378%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CLUSDT	92.937	0	get 0.0000% / 8h	7h 47m	$27.4M	$80.8M	150x
Short	Ondo Perps WTI-USD.P	92.870	−0.0022	pay 0.0003% / 1h	47m 24s	$3.6M	$5.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.072%Rate

Funding earned: −$4.54
Price spread: −0.072% → −0.055%: −$1.67
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$22.21
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; Ondo Perps: 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	6.2 bp −$6	7.8 bp −$78	15.4 bp −$1,540	85.4 bp −$42.7K
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Deribit WTIOIL_USDC-PERPETUAL	−0.0503%	1h	92.930	−0.008%	$188K	$407K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0313%	1h	92.984	+0.050%	$270K	$931K	25x	as long as short
Aster CLUSD1	−0.0241%	4h	92.950	+0.014%	$24.7M	$61.7M	20x	as long as short
GRVT CL_USDT_Perp	−0.0238%	4h	92.945	+0.008%	$74K	$614K	25x	as long as short
Gate CL_USDT	−0.0180%	8h	92.860	−0.083%	$23.3M	$48.9M	100x	as long as short
Binance CLUSDT	−0.0138%	4h	92.920	−0.018%	$246.5M	$929.6M	100x	as long as short
Variational Omni CL	−0.0127%	4h	92.920	−0.019%	$13.5M	$10.7M	—	as long as short
Nado WTI-PERP	−0.0111%	1h	92.971	+0.037%	$951K	$611K	10x	as long as short
Bitget CLUSDT	−0.0090%	4h	92.910	−0.029%	$42.0M	$41.7M	100x	as long as short
Aftermath Perps WTIUSD	−0.0077%	1h	92.984	+0.051%	$1K	$27K	5x	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	−0.0059%	4h	92.910	−0.029%	$42.6M	$103.1M	50x	as long as short
tradeXYZ xyz:CL	−0.0054%	1h	92.934	−0.003%	$184.1M	$196.0M	20x	as long as short
edgeX CLUSDC	−0.0046%	4h	92.938	+0.001%	$542K	$343K	30x	as long as short
QFEX CL-USD	−0.0026%	1h	92.910	−0.029%	$2.3M	$2.5M	10x	as long as short
Ondo Perps WTI-USD.Pshort	−0.0022%	1h	92.870	−0.072%	$3.6M	$5.2M	20x
dYdX WTI-USD	0.0000%	1h	92.953	+0.017%	$8K	$3K	5x	as long as short
Bybit CLUSDTlong	0.0000%	8h	92.937	long leg	$27.4M	$80.8M	150x
RISEx CL/USDC	0.0000%	1h	93.002	+0.070%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.917	−0.022%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.508	−0.462%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0007%	8h	92.931	−0.006%	$16K	$367	5x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.960	+0.025%	$37K	$39K	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	93.160	+0.240%	$404K	$808K	15x	as long as short
Lighter WTI	+0.0024%	1h	92.950	+0.014%	$11.3M	$8.6M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.990	+0.057%	$1.7M	$14.8M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.930	−0.008%	$732K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.940	+0.003%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.934	−0.003%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.956	+0.020%	$2.1M	$62K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.978	+0.044%	$346K	$586K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.934	−0.003%	$7.0M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.020	+0.089%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.933	−0.004%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0166% / S 0.0000%	1h	92.955	+0.019%	$85K	—	111x	as long as short
BloFin CL-USDT	+0.0176%	4h	92.950	+0.014%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.896%	$19K	$5K	30x	as long as short