Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0105%/8h= −11.5% APRpaid last 24h −0.030%

Price spread now: Variational Omni against Bybit+0.507%7-day average −0.011% · you sell dearer than you buy

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.011%+$1 on $10k

Price spread, last 7 days−0.482%−$48 · spread now +0.507%, 7d avg −0.011%

Together, before fees−0.471%+ Points / potential airdropVariational Omni: Active · farm board−$47 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.518% dearer against Bybit than usual: you sell high and buy low (spread +0.507% now, against its 7-day average of −0.011%): +$52 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 17 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CLUSDT	91.965	0	get 0.0000% / 8h	7h 16m	$26.9M	$84.1M	150x
Short	Variational Omni CL	92.432	−0.0105	pay 0.0052% / 4h	3h 16m	$13.5M	$10.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.507%Rate

Funding earned: −$21.96
Price spread: +0.507% → −0.011%: $51.84
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $18.87
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 3 min ago; Variational Omni: RFQ quote, 3 min ago. 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, 3 min ago	0.54 bp	6.0 bp −$6	7.4 bp −$74	16.4 bp −$1,636	101.0 bp −$50.5K
Sell Variational Omni RFQ quote, 3 min ago	2.27 bp	doesn't fit	2.5 bp −$25	6.8 bp −$680	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	−0.0728%	1h	91.910	−0.060%	$184K	$415K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0316%	1h	91.969	+0.004%	$257K	$944K	25x	as long as short
Aster CLUSD1	−0.0215%	4h	91.967	+0.003%	$24.8M	$59.3M	20x	as long as short
Binance CLUSDT	−0.0125%	4h	91.938	−0.029%	$248.0M	$943.4M	100x	as long as short
Variational Omni CLshort	−0.0105%	4h	92.432	+0.507%	$13.5M	$10.7M	—
Nado WTI-PERP	−0.0100%	1h	92.100	+0.147%	$945K	$599K	10x	as long as short
GRVT CL_USDT_Perp	−0.0098%	4h	92.300	+0.364%	$74K	$611K	25x	as long as short
edgeX CLUSDC	−0.0090%	4h	92.379	+0.450%	$539K	$343K	30x	as long as short
Bitget CLUSDT	−0.0078%	4h	91.976	+0.012%	$41.8M	$42.4M	100x	as long as short
Gate CL_USDT	−0.0071%	8h	91.900	−0.071%	$23.7M	$50.8M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps WTIUSD	−0.0054%	1h	92.429	+0.505%	$1K	$27K	5x	as long as short
OKX CL-USDT-SWAP	−0.0048%	4h	91.940	−0.027%	$42.3M	$103.4M	50x	as long as short
QFEX CL-USD	−0.0026%	1h	92.030	+0.071%	$2.3M	$2.5M	10x	as long as short
tradeXYZ xyz:CL	−0.0011%	1h	91.994	+0.032%	$182.9M	$192.9M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.089	+0.134%	$8K	$3K	5x	as long as short
Bybit CLUSDTlong	0.0000%	8h	91.965	long leg	$26.9M	$84.1M	150x
RISEx CL/USDC	0.0000%	1h	92.228	+0.286%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	91.948	−0.018%	$19K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.815	−0.163%	$5K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.520	+0.603%	$37K	$39K	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	92.040	+0.082%	$416K	$980K	15x	as long as short
Paradex CL-USD-PERP	+0.0018%	8h	92.093	+0.139%	$15K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	91.946	−0.021%	$11.2M	$9.0M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	91.980	+0.016%	$1.7M	$13.9M	10x	as long as short
Ondo Perps WTI-USD.P	+0.0037%	1h	92.000	+0.038%	$3.6M	$5.2M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.210	+0.266%	$724K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.080	+0.125%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.082	+0.127%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	91.955	−0.011%	$2.0M	$69K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.093	+0.139%	$341K	$574K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.005	+0.043%	$7.0M	$2.5M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.450	+0.527%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.890	−0.082%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0165% / S −0.0007%	1h	92.225	+0.283%	$80K	—	111x	as long as short
BloFin CL-USDT	+0.0195%	4h	92.230	+0.288%	$4.1M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+11.057%	$19K	$5K	30x	as long as short