Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0151%/8h= −16.6% APRpaid last 24h −0.014%

Price spread now: tradeXYZ against Bybit−0.030%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs+$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$310.312% of the position

Long on Bybit Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.429%+$43 on $10k

Price spread, last 7 days−0.005%−$1 · spread now −0.030%, 7d avg −0.007%

Together, before fees+0.423%+ Points / potential airdroptradeXYZ: Active · farm board+$42 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and tradeXYZ is 0.024% cheaper against Bybit than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.007%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.429%, 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	91.950	0	get 0.0000% / 8h	1h 23m	$25.3M	$97.4M	150x
Short	tradeXYZ xyz:CL	91.922	−0.0151	pay 0.0019% / 1h	23m 59s	$184.8M	$279.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$31.8
Price spread: −0.030% → −0.007%: −$2.37
Slippage, 4 orders: −$2.2
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$65.37
Costs to cover: 0.312%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; tradeXYZ: live order book, 6 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, 5 min ago	0.54 bp	6.0 bp −$6	7.3 bp −$73	17.8 bp −$1,780	doesn't fit
Sell tradeXYZ live order book, 6 min ago	0.27 bp	9.6 bp −$10	10.6 bp −$106	doesn't fit	doesn't fit

CL on 35 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	91.870	−0.087%	$11.0M	$11.2M	20x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0294%	1h	91.910	−0.044%	$95K	$260K	15x	as long as short
Aftermath Perps WTIUSD	−0.0199%	1h	91.923	−0.029%	$2K	$30K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0179%	1h	91.890	−0.065%	$3.5M	$6.4M	20x	as long as short
Nado WTI-PERP	−0.0175%	1h	91.964	+0.015%	$923K	$748K	10x	as long as short
tradeXYZ xyz:CLshort	−0.0151%	1h	91.922	−0.030%	$184.8M	$279.4M	20x
Bullet WTIOIL-USD	−0.0136%	1h	91.892	−0.063%	$19K	$240K	10x	as long as short
GRVT CL_USDT_Perp	−0.0114%	4h	91.887	−0.069%	$58K	$726K	25x	as long as short
Paradex CL-USD-PERP	−0.0106%	8h	91.872	−0.085%	$15K	$367	5x	as long as short
Aster CLUSD1	−0.0091%	4h	91.930	−0.022%	$23.9M	$78.4M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps WTIOIL-USD	−0.0014%	1h	91.899	−0.055%	$1.6M	$1.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	91.939	−0.012%	$8K	$3K	5x	as long as short
Extended WTI-USD	0.0000%	1h	91.960	+0.011%	$2.0M	$29.0M	10x	as long as short
Binance CLUSDT	0.0000%	4h	91.903	−0.051%	$245.5M	$1.12B	100x	as long as short
Bybit CLUSDTlong	0.0000%	8h	91.950	long leg	$25.3M	$97.4M	150x
OKX CL-USDT-SWAP	0.0000%	4h	91.930	−0.022%	$43.1M	$113.9M	50x	as long as short
QFEX CL-USD	0.0000%	1h	91.890	−0.065%	$2.4M	$2.6M	10x	as long as short
Gate CL_USDT	0.0000%	8h	91.840	−0.120%	$21.2M	$59.1M	100x	as long as short
Bitget CLUSDT	0.0000%	4h	91.902	−0.052%	$42.0M	$53.9M	100x	as long as short
Variational Omni CL	0.0000%	4h	91.874	−0.083%	$13.4M	$13.5M	—	as long as short
StandX CL-USD	+0.0004%	1h	91.900	−0.054%	$722K	$3.1M	40x	as long as short
Phoenix WTIOIL	+0.0009%	1h	91.970	+0.022%	$37K	$99K	20x	as long as short
edgeX CLUSDC	+0.0013%	4h	91.933	−0.018%	$529K	$340K	30x	as long as short
Vest CL-PERP	+0.0046%	1h	92.000	+0.054%	—	$243K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	91.895	−0.060%	$2.0M	$39K	20x	as long as short
ApeX Omni CLUSDT	+0.0065%	1h	91.870	−0.087%	$55K	$266K	50x	as long as short
Pacifica CL	+0.0100%	1h	91.908	−0.046%	$332K	$579K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	91.936	−0.015%	$7.3M	$2.1M	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.879	−0.077%	$4K	—	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0112%	1h	91.920	−0.033%	$397K	$1.2M	15x	as long as short
Injective WTI/USDC PERP	+0.0172%	1h	100.99	+9.835%	$19K	$18K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	91.895	−0.060%	$76K	—	111x	as long as short
BloFin CL-USDT	+0.0240%	4h	91.900	−0.054%	$4.0M	$1.5M	50x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0451%	1h	91.917	−0.036%	$260K	$1.2M	25x	as long as short
RISEx CL/USDC	+0.0977%	1h	92.013	+0.068%	$3.2M	$2.8M	20x	as long as short