Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0246%/8h= +26.9% APRpaid last 24h +0.017%

Price spread now: Bybit against GRVT+0.066%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$270.274% of the position

Long on GRVT Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 4 days (all we have)−0.104%−$10 · spread now +0.066%, 7d avg −0.006%

Together, before fees−0.196%+ Points / potential airdropGRVT: Active · farm board−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Bybit is 0.072% dearer against GRVT than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.006%. Mind the row above: over the last 7 days funding on this pair cost −0.091%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.091% in total (about -4.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT CL_USDT_Perp	92.909	−0.0246	get 0.0123% / 4h	3h 59m	$56K	$656K	25x
Short	Bybit CLUSDT	92.970	0	get 0.0000% / 8h	3h 59m	$26.6M	$80.5M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against GRVT. 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 GRVTbpFee BybitbpOrdersPrice spread, now +0.066%Rate

Funding earned: $51.66
Price spread: +0.066% → −0.006%: $7.2
Slippage, 4 orders: −$7.41
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $31.45
Costs to cover: 0.274%
Break-even: 2.7 days

Slippage from GRVT: live order book, 59 min ago; Bybit: 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 GRVT live order book, 59 min ago	0.54 bp	9.3 bp −$9	14.0 bp −$140	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.54 bp	6.0 bp −$6	7.1 bp −$71	15.8 bp −$1,579	108.6 bp −$54.3K

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	−0.0395%	1h	92.950	+0.045%	$198K	$370K	15x	as long as short
Aster CLUSD1	−0.0272%	4h	92.997	+0.096%	$24.0M	$66.3M	20x	as long as short
GRVT CL_USDT_Perplong	−0.0246%	4h	92.909	long leg	$56K	$656K	25x
Binance CLUSDT	−0.0180%	4h	92.970	+0.066%	$244.8M	$944.3M	100x	as long as short
Variational Omni CL	−0.0172%	4h	92.899	−0.011%	$13.5M	$10.8M	—	as long as short
Bitget CLUSDT	−0.0130%	4h	92.952	+0.047%	$41.9M	$43.5M	100x	as long as short
Aftermath Perps WTIUSD	−0.0106%	1h	92.952	+0.046%	$2K	$27K	5x	as long as short
Nado WTI-PERP	−0.0065%	1h	93.004	+0.103%	$963K	$647K	10x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.039	+0.140%	$267K	$929K	25x	as long as short
OKX CL-USDT-SWAP	−0.0051%	4h	92.970	+0.066%	$42.5M	$102.8M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0044%	8h	92.910	+0.002%	$20.8M	$50.4M	100x	as long as short
QFEX CL-USD	−0.0043%	1h	92.940	+0.034%	$2.3M	$1.8M	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.930	+0.023%	$399K	$948K	15x	as long as short
KuCoin CLUSDTM	−0.0026%	4h	92.998	+0.096%	$7.1M	$2.4M	50x	as long as short
edgeX CLUSDC	−0.0024%	4h	92.888	−0.022%	$526K	$304K	30x	as long as short
Lighter WTI	0.0000%	1h	92.958	+0.053%	$11.2M	$10.3M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.937	+0.030%	$8K	$3K	5x	as long as short
Bybit CLUSDTshort	0.0000%	8h	92.970	+0.066%	$26.6M	$80.5M	150x
RISEx CL/USDC	0.0000%	1h	93.029	+0.129%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.980	+0.077%	$37K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.986	+0.084%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.529	−0.409%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0004%	8h	92.948	+0.042%	$16K	$367	5x	as long as short
tradeXYZ xyz:CL	+0.0009%	1h	92.956	+0.051%	$184.5M	$219.7M	20x	as long as short
Ondo Perps WTI-USD.P	+0.0021%	1h	92.920	+0.012%	$3.5M	$5.4M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.000	+0.098%	$2.0M	$20.1M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.940	+0.034%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.980	+0.077%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.980	+0.077%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.970	+0.066%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0068%	1h	92.966	+0.061%	$330K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.900	−0.009%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.957	+0.052%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0187%	4h	92.970	+0.066%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0217% / S −0.0145%	1h	92.985	+0.082%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.25	+10.056%	$19K	$11K	30x	as long as short