Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0047%/8h= −5.1% APRpaid last 24h +0.006%

Price spread now: Bybit against QFEX+0.027%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$280.281% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.042%−$4 on $10k

Price spread, last 7 days−0.005%−$1 · spread now +0.027%, 7d avg +0.010%

Together, before fees−0.047%−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.010%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CL-USD	92.240	−0.0040	get 0.0005% / 1h	58m 19s	$2.4M	$2.3M	10x
Short	Bybit CLUSDT	92.265	−0.0086	pay 0.0086% / 8h	7h 58m	$26.0M	$94.1M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against QFEX. 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 QFEXbpFee BybitbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$9.79
Price spread: +0.027% → +0.010%: $1.67
Slippage, 4 orders: −$7.13
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$36.24
Costs to cover: 0.281%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; Bybit: live order book, 11 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 QFEX live order book, 4 min ago	2.17 bp	7.2 bp −$7	7.2 bp −$72	8.7 bp −$869	doesn't fit
Sell Bybit live order book, 11 min ago	0.54 bp	6.1 bp −$6	7.8 bp −$78	17.1 bp −$1,710	104.5 bp −$52.2K

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
GRVT CL_USDT_Perp	−0.0328%	4h	92.193	−0.051%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0300%	4h	92.281	+0.044%	$23.9M	$77.7M	20x	as long as short
Binance CLUSDT	−0.0226%	4h	92.255	+0.016%	$244.5M	$1.08B	100x	as long as short
Variational Omni CL	−0.0206%	4h	92.193	−0.051%	$13.2M	$12.7M	—	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0183%	1h	92.290	+0.054%	$96K	$189K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.291	+0.055%	$273K	$1.2M	25x	as long as short
Nado WTI-PERP	−0.0110%	1h	92.286	+0.049%	$925K	$733K	10x	as long as short
Bybit CLUSDTshort	−0.0086%	8h	92.265	+0.027%	$26.0M	$94.1M	150x
Ondo Perps WTI-USD.P	−0.0040%	1h	92.210	−0.033%	$3.5M	$6.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.228%	$399K	$962K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USDlong	−0.0040%	1h	92.240	long leg	$2.4M	$2.3M	10x
Lighter WTI	−0.0032%	1h	92.250	+0.011%	$11.2M	$9.9M	20x	as long as short
Paradex CL-USD-PERP	−0.0029%	8h	92.207	−0.035%	$15K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	92.269	+0.031%	$8K	$3K	5x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.240	0.000%	$43.0M	$111.5M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.367	+0.138%	$3.3M	$2.7M	20x	as long as short
Gate CL_USDT	0.0000%	8h	92.180	−0.065%	$21.3M	$53.9M	100x	as long as short
Bitget CLUSDT	0.0000%	4h	92.274	+0.037%	$42.0M	$51.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.300	+0.065%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.247	+0.008%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.842	−0.431%	$5K	—	150x	as long as short
tradeXYZ xyz:CL	+0.0014%	1h	92.272	+0.035%	$186.2M	$267.3M	20x	as long as short
edgeX CLUSDC	+0.0021%	4h	92.241	+0.001%	$530K	$326K	30x	as long as short
Extended WTI-USD	+0.0032%	1h	92.320	+0.087%	$2.0M	$26.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.230	−0.011%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.290	+0.054%	—	$308K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.264	+0.026%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.270	+0.033%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.229	−0.011%	$353K	$596K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.244	+0.004%	$7.3M	$2.2M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.220	−0.022%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.238	−0.003%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.265	+0.027%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.34	+9.861%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.220	−0.022%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0505%	1h	92.111	−0.140%	$2K	$29K	5x	as long as short