Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0038%/8h= −4.1% APRpaid last 24h −0.007%

Price spread now: QFEX against Bybit+0.085%7-day average −0.010% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$280.277% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.038%+$4 on $10k

Price spread, last 7 days−0.068%−$7 · spread now +0.085%, 7d avg −0.010%

Together, before fees−0.029%−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.095% dearer against Bybit than usual: you sell high and buy low (spread +0.085% now, against its 7-day average of −0.010%): +$10 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CLUSDT	93.131	0	get 0.0000% / 8h	37m 57s	$26.7M	$79.1M	150x
Short	QFEX CL-USD	93.210	−0.0038	pay 0.0005% / 1h	37m 57s	$2.3M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.085%Rate

Funding earned: −$7.88
Price spread: +0.085% → −0.010%: $9.5
Slippage, 4 orders: −$6.75
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$26.13
Costs to cover: 0.277%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; QFEX: live order book, 5 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	6.1 bp −$6	8.0 bp −$80	16.2 bp −$1,620	80.9 bp −$40.5K
Sell QFEX live order book, 5 min ago	1.61 bp	7.4 bp −$7	7.7 bp −$77	9.2 bp −$915	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	−0.0608%	1h	93.170	+0.042%	$195K	$393K	15x	as long as short
Aster CLUSD1	−0.0287%	4h	93.207	+0.082%	$24.7M	$64.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0272%	4h	93.210	+0.085%	$75K	$636K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0209%	1h	93.204	+0.078%	$275K	$938K	25x	as long as short
Binance CLUSDT	−0.0163%	4h	93.131	0.000%	$246.7M	$920.4M	100x	as long as short
Variational Omni CL	−0.0151%	4h	93.187	+0.060%	$13.4M	$10.6M	—	as long as short
Gate CL_USDT	−0.0130%	8h	93.130	−0.001%	$22.9M	$49.0M	100x	as long as short
Bitget CLUSDT	−0.0124%	4h	93.114	−0.018%	$42.2M	$41.6M	100x	as long as short
Aftermath Perps WTIUSD	−0.0112%	1h	93.269	+0.148%	$2K	$26K	5x	as long as short
Nado WTI-PERP	−0.0090%	1h	93.258	+0.136%	$957K	$623K	10x	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	−0.0067%	4h	93.110	−0.023%	$42.7M	$102.7M	50x	as long as short
QFEX CL-USDshort	−0.0038%	1h	93.210	+0.085%	$2.3M	$2.4M	10x
Ondo Perps WTI-USD.P	−0.0031%	1h	93.200	+0.074%	$3.6M	$5.3M	20x	as long as short
tradeXYZ xyz:CL	−0.0031%	1h	93.194	+0.068%	$184.1M	$199.4M	20x	as long as short
Lighter WTI	−0.0024%	1h	93.187	+0.060%	$11.2M	$9.1M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.439%	$405K	$810K	15x	as long as short
Paradex CL-USD-PERP	−0.0003%	8h	93.195	+0.068%	$16K	$367	5x	as long as short
edgeX CLUSDC	−0.0001%	4h	93.217	+0.092%	$524K	$304K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	93.266	+0.145%	$8K	$3K	5x	as long as short
Bybit CLUSDTlong	0.0000%	8h	93.131	long leg	$26.7M	$79.1M	150x
RISEx CL/USDC	0.0000%	1h	93.252	+0.130%	$3.0M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.410	+0.300%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.192	+0.065%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.747	−0.412%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0008%	1h	93.170	+0.042%	$1.6M	$15.0M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.290	+0.171%	$739K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.210	+0.085%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.192	+0.065%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.192	+0.065%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.227	+0.103%	$348K	$593K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.219	+0.094%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.200	+0.074%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.171	+0.043%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0176%	4h	93.210	+0.085%	$4.0M	$983K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.83	+10.417%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0254% / S −0.0190%	1h	93.195	+0.069%	$83K	—	111x	as long as short