Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h −0.009%

Price spread now: Bybit against Extended−0.054%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$200.198% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.397%−$40 on $10k

Price spread, last 7 days+0.072%+$7 · spread now −0.054%, 7d avg +0.021%

Together, before fees−0.326%+ Points / potential airdropExtended: Active · farm board−$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.075% cheaper against Extended than usual: you would sell low and buy high (spread −0.054% now, against its 7-day average of +0.021%). If the spread goes back, that is −$8 on $10k: about 4.5 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.397%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended WTI-USD	92.930	−0.0056	get 0.0007% / 1h	14m 57s	$2.1M	$22.3M	10x
Short	Bybit CLUSDT	92.880	0	get 0.0000% / 8h	5h 14m	$26.5M	$81.0M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now −0.054%Rate

Funding earned: $11.76
Price spread: −0.054% → +0.021%: −$7.51
Slippage, 4 orders: −$3.82
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$15.57
Costs to cover: 0.198%
Break-even: 16.3 days

Slippage from Extended: live order book, 4 min ago; Bybit: 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 Extended live order book, 4 min ago	0.05 bp	3.6 bp −$4	5.8 bp −$58	20.5 bp −$2,050	doesn't fit
Sell Bybit live order book, 4 min ago	0.54 bp	6.5 bp −$6	7.6 bp −$76	18.0 bp −$1,800	109.0 bp −$54.5K

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	−0.0611%	1h	92.840	−0.097%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0255%	4h	92.876	−0.058%	$23.9M	$68.0M	20x	as long as short
GRVT CL_USDT_Perp	−0.0238%	4h	92.910	−0.022%	$53K	$635K	25x	as long as short
Binance CLUSDT	−0.0203%	4h	92.872	−0.062%	$244.6M	$952.2M	100x	as long as short
Variational Omni CL	−0.0195%	4h	92.857	−0.079%	$13.5M	$11.2M	—	as long as short
Ondo Perps WTI-USD.P	−0.0160%	1h	92.810	−0.129%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0155%	1h	92.934	+0.004%	$960K	$659K	10x	as long as short
Gate CL_USDT	−0.0070%	8h	92.820	−0.118%	$20.9M	$52.9M	100x	as long as short
tradeXYZ xyz:CL	−0.0070%	1h	92.876	−0.058%	$184.4M	$217.5M	20x	as long as short
OKX CL-USDT-SWAP	−0.0069%	4h	92.850	−0.086%	$42.8M	$101.9M	50x	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	−0.0060%	1h	92.897	−0.036%	$2K	$27K	5x	as long as short
Extended WTI-USDlong	−0.0056%	1h	92.930	long leg	$2.1M	$22.3M	10x
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.194%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	92.850	−0.086%	$2.5M	$1.7M	10x	as long as short
edgeX CLUSDC	−0.0015%	4h	92.902	−0.030%	$529K	$303K	30x	as long as short
Lighter WTI	0.0000%	1h	92.877	−0.057%	$11.2M	$10.5M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.937	+0.007%	$8K	$3K	5x	as long as short
Bybit CLUSDTshort	0.0000%	8h	92.880	−0.054%	$26.5M	$81.0M	150x
Bitget CLUSDT	0.0000%	4h	92.866	−0.069%	$42.1M	$43.5M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.950	+0.022%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.881	−0.053%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.441	−0.526%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0014%	8h	92.872	−0.063%	$16K	$367	5x	as long as short
KuCoin CLUSDTM	+0.0016%	4h	92.863	−0.072%	$7.3M	$2.3M	50x	as long as short
StandX CL-USD	+0.0040%	1h	92.900	−0.032%	$733K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.900	−0.032%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.890	−0.043%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.868	−0.067%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	92.966	+0.039%	$3.1M	$2.9M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.873	−0.061%	$331K	$619K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.970	+0.043%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.836	−0.101%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.892	−0.041%	$273K	$872K	25x	as long as short
BloFin CL-USDT	+0.0172%	4h	92.860	−0.075%	$4.1M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.865	−0.070%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.10	+9.865%	$19K	$11K	30x	as long as short