Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0016%/8h= +1.7% APRpaid last 24h +0.008%

Price spread now: StandX against Bybit−0.140%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs+$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$300.300% of the position

Long on Bybit Short on StandX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.531%+$53 on $10k

Price spread, last 7 days+0.099%+$10 · spread now −0.140%, 7d avg −0.017%

Together, before fees+0.630%+ Points / potential airdropStandX: Active · farm board+$63 on $10k · with fees, hour by hour

Funding pays, the price is against you. StandX is 0.123% cheaper against Bybit than usual: you would sell low and buy high (spread −0.140% now, against its 7-day average of −0.017%). If the spread goes back, that is −$12 on $10k: about 26 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.531% in total) that is about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CLUSDT	92.069	0	get 0.0000% / 8h	1h 20m	$25.4M	$97.5M	150x
Short	StandX CL-USD	91.940	0.0016	get 0.0002% / 1h	20m 03s	$723K	$3.0M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX 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 StandXbpOrdersPrice spread, now −0.140%Rate

Funding earned: $3.31
Price spread: −0.140% → −0.017%: −$12.28
Slippage, 4 orders: −$11.03
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee StandX: 4 bp × 2 orders: −$8
Net: −$38.99
Costs to cover: 0.300%
Break-even: 89.5 days

Slippage from Bybit: live order book, 4 min ago; StandX: live order book, 4 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, 4 min ago	0.54 bp	6.2 bp −$6	8.1 bp −$81	18.2 bp −$1,818	doesn't fit
Sell StandX live order book, 4 min ago	4.89 bp	8.9 bp −$9	12.1 bp −$121	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
Lighter WTI	−0.0312%	1h	91.949	−0.130%	$11.0M	$11.3M	20x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0293%	1h	91.990	−0.086%	$95K	$220K	15x	as long as short
Aftermath Perps WTIUSD	−0.0184%	1h	91.966	−0.112%	$2K	$30K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0173%	1h	91.950	−0.129%	$3.5M	$6.4M	20x	as long as short
Nado WTI-PERP	−0.0169%	1h	92.054	−0.017%	$923K	$747K	10x	as long as short
tradeXYZ xyz:CL	−0.0145%	1h	91.997	−0.078%	$185.1M	$279.8M	20x	as long as short
GRVT CL_USDT_Perp	−0.0144%	4h	91.880	−0.205%	$58K	$715K	25x	as long as short
Bullet WTIOIL-USD	−0.0128%	1h	91.970	−0.108%	$18K	$240K	10x	as long as short
Paradex CL-USD-PERP	−0.0105%	8h	91.962	−0.116%	$15K	$367	5x	as long as short
Aster CLUSD1	−0.0100%	4h	92.070	+0.001%	$23.9M	$78.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps WTIOIL-USD	−0.0007%	1h	91.985	−0.091%	$1.6M	$1.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.024	−0.049%	$8K	$3K	5x	as long as short
Binance CLUSDT	0.0000%	4h	91.980	−0.097%	$245.5M	$1.12B	100x	as long as short
Bybit CLUSDTlong	0.0000%	8h	92.069	long leg	$25.4M	$97.5M	150x
OKX CL-USDT-SWAP	0.0000%	4h	92.050	−0.021%	$43.1M	$114.1M	50x	as long as short
QFEX CL-USD	0.0000%	1h	91.960	−0.118%	$2.4M	$2.6M	10x	as long as short
Gate CL_USDT	0.0000%	8h	91.920	−0.162%	$21.2M	$59.2M	100x	as long as short
Bitget CLUSDT	0.0000%	4h	91.970	−0.108%	$42.0M	$53.5M	100x	as long as short
Variational Omni CL	0.0000%	4h	91.944	−0.136%	$13.4M	$13.4M	—	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.568	−0.544%	$4K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	91.960	−0.118%	$37K	$99K	20x	as long as short
StandX CL-USDshort	+0.0016%	1h	91.940	−0.140%	$723K	$3.0M	40x
Extended WTI-USD	+0.0016%	1h	92.040	−0.031%	$2.0M	$28.9M	10x	as long as short
Vest CL-PERP	+0.0046%	1h	92.080	+0.012%	—	$243K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	91.971	−0.106%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0090%	4h	91.918	−0.164%	$529K	$341K	30x	as long as short
Pacifica CL	+0.0100%	1h	91.982	−0.094%	$332K	$579K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	91.991	−0.085%	$7.3M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	91.870	−0.216%	$55K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.950	−0.130%	$4K	—	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0112%	1h	91.920	−0.162%	$397K	$1.2M	15x	as long as short
Injective WTI/USDC PERP	+0.0172%	1h	100.99	+9.693%	$19K	$18K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	91.975	−0.102%	$76K	—	111x	as long as short
BloFin CL-USDT	+0.0240%	4h	91.950	−0.129%	$4.0M	$1.5M	50x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0450%	1h	91.996	−0.079%	$260K	$1.2M	25x	as long as short
RISEx CL/USDC	+0.0977%	1h	92.102	+0.035%	$3.2M	$2.7M	20x	as long as short